Quote
Originally posted by: jatki99
I'm still scratching my head why they jacked 'em so much. My guess, they wanna be the first lottery to hit the billion mark maybe?
Originally posted by: jatki99
I'm still scratching my head why they jacked 'em so much. My guess, they wanna be the first lottery to hit the billion mark maybe?
Not a bad guess.
Over the years a question asked of the public about their lottery preferences has lead to an interesting analysis of public opinion.
To tweak a lottery to maximize revenue the lottery managers over the years have polled this question of the player pool: "Which would you prefer: i. a lottery with more winners but smaller jackpots or ii. a lottery with fewer winners but higher jackpots?"
Inevitably the overwhelming choice is more winners. smaller jackpots. See, . . . people are nice; they'd rather more folks share in the winnings of lots of small jackpots instead of one or two folks winning a rare huge jackpot.
But, when it comes time to buy a lottery ticket, . . . people buy lots and lots more tickets when the jackpot is huge. Sufficiently more that, as it turns out, the lottery manager who wishes to raise revenue would be wise to follow what people do with their money, i.e. prefer to spend it on a huge jackpot, . . . instead of following what people say to a pollster, i.e. small pots with more winners is better.
People lie. They really prefer a huge prize for themselves. DonDiego admits it; that's why he posted this.
This is a well-recognized phenomenon to the overall polling industry, which has learned to be aware of questions which may evoke a response not in agreement with people's actual behavior.
So, if there ever is a $Billion-Prize, sales will be off the charts.
Over the years a question asked of the public about their lottery preferences has lead to an interesting analysis of public opinion.
To tweak a lottery to maximize revenue the lottery managers over the years have polled this question of the player pool: "Which would you prefer: i. a lottery with more winners but smaller jackpots or ii. a lottery with fewer winners but higher jackpots?"
Inevitably the overwhelming choice is more winners. smaller jackpots. See, . . . people are nice; they'd rather more folks share in the winnings of lots of small jackpots instead of one or two folks winning a rare huge jackpot.
But, when it comes time to buy a lottery ticket, . . . people buy lots and lots more tickets when the jackpot is huge. Sufficiently more that, as it turns out, the lottery manager who wishes to raise revenue would be wise to follow what people do with their money, i.e. prefer to spend it on a huge jackpot, . . . instead of following what people say to a pollster, i.e. small pots with more winners is better.
People lie. They really prefer a huge prize for themselves. DonDiego admits it; that's why he posted this.
This is a well-recognized phenomenon to the overall polling industry, which has learned to be aware of questions which may evoke a response not in agreement with people's actual behavior.
So, if there ever is a $Billion-Prize, sales will be off the charts.
