Powerball Sales Surge Following Mega Millions Ticket Price Increase

"...at least one of the losers might already be known: Mega Millions...."

"...as lottery tickets tend to do around ten-figured advertised prizes...."

"...a comparatively paltry $70 million...."

"...And it looks like lottery ticket buyers, at least, really care about that difference – especially in an economy where Americans, weary of the high cost of living, are holding onto every dollar...."

"...Powerball sales are likely being helped as lottery players have been reluctant to shell out the extra few bucks...."

"...Americans have been largely focused on value for dollar after prices have jumped on years of high inflation rates...."

"...But Powerball’s current sales jump isn’t as simple as one product pricing itself out of the market...."

"...Part of that is the shift in buying habits, part of it is bad luck for Mega Millions, which has not had as many long runs between big prizes that drives up the size of the jackpot...."

"...Matheson said the games’ odds suggest that the Mega Millions should rack up big jackpots more often than Powerball, even with bargain-hunting lottery players. But so far, it hasn’t worked out that way...."

"...I will say that Mega Millions has gotten a little unlucky at the same time Powerball has gotten lucky...."

"...That’s given it an edge on Mega Millions, which reached near $1 billion just once this year...."

"...But even then when Mega Millions had a big prize advantage, it frequently sold fewer tickets than Powerball...."

"...Mega Millions raised its price in the expectation that it would boast more frequent large jackpots and thus create greater sales...."

"...But because Mega Millions brings in so much more on each ticket, even at a slower sales pace, its long-term odds are fine, Matheson said...."

"...Much better, in fact, than the odds for Powerball ticket buyers this weekend...."