The Changing Landscape of Lottery Games

Lottery tickets
Tuesday January 8, 2019 04:37 am

The Lottery Lab Staff

The lottery game is fun and exciting! The thrill of beating the odds and winning huge jackpots takes us to another level. The fun, fascinating and worldwide-engaging activity has successfully drawn a large number of players to it. Plus, the new era of lottery gaming is making it more thrilling than ever by eliminating the old days of technologically outdated lotteries.

 

Looking at the number of players playing lotteries across the world, it is safe to say that the lottery market is extremely lucrative right now. In the US lottery market alone, over the past 40 years,  revenue growth has increased by more than 30 times. Based on statistical data, total state and local lottery revenue in the US increased from $0.77 Billion to more than $25 Billion during the period from 1977 to 2015. Surprised?

 

Lottery commissions are making great changes in rules and the ways lotteries are played to keep their lotteries engaging. They have increased the number ranges of their lotteries, offering lottery players a wider pool of numbers to choose from. There are two significant reasons to do this.

 

First, to lower the odds of winning and keep the jackpot rolling, resulting in higher jackpots. The highest recorded Powerball jackpot so far was worth $1.5 billion and highest recorded Mega Millions jackpot so far was worth $1.6 Billion. A rough estimation is that around 280 million Mega Million tickets were sold before the winner of $1.6 billion worth jackpot was announced. Considering those numbers, it is safe to say that a wider pool of numbers as accomplished this goal just fine so far.

 

Second, lower odds prevents people from purchasing enough tickets to cover every possible combination and ensure that they win the big jackpot, as Stefan Mandel did. After Mandel’s case, Lottery commissions took various steps and increasing the number pool was one of them. After the winner of $1.6 billion jackpot was announced, the Mega Millions jackpot reset to $40 and at that point of the game, it became a bad bet as the value of a ticket was as low as 30 cents on the dollar. But the public excitement stayed high and kept sales up to make more money for the lottery commission.

 

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Today, lottery commissions are more sensitive towards their customers and concerned about their reputation at the same time. They are making rules in response to public demands.  These include allowing people to claim prizes anonymously (for the sake of their safety) and prohibiting fraudulent activities. It is fair to say that lottery games are evolving with time. With digitally printed lotteries and lottery mobile apps, it is the new era of lottery games.