Remember the last time we talked about Powerball?
I theorized that a powerball price hike to $2 would result in lost sales. There was one dynamic that I completely failed to foresee:
Megamillions is, according to this ticket here, 363 Million. Now, let’s say that you had an opportunity to purchase a lottery ticket at your local gas station.
Would you spend $2 on the chance to win $50 million or would you spend $1 on the chance to win $363 million?
Yeah, me too. As such, I’m pretty sure that the Powerball folks are thinking long and hard about the $2 price hike given the fact that nobody with the choice between the two is going to purchase Powerball until after Mega Millions is back down to its normal $10 million reset point.