This week, a lucky Californian won a staggering $1.765 billion in the Powerball lottery! After taxes, it’s a few hundred million less, but still an unbelievable amount of cash. Shockingly, it’s not even the biggest jackpot ever – that was $2.04 billion won in November 2022.
American lottery jackpots are getting bigger and bigger. They blow other lotteries out of the water – the EuroMillions jackpot seems like “peanuts” in comparison with the maximum win being a “paltry” £195 million.
America is well served by lottery “messenger” apps in more than states, which allow players to buy tickets and check results conveniently on their phones. But this convenience comes at a price, typically a 9-30% markup over a ticket’s $2.00 face value. Arguably, these apps are fuelling the giant jackpots, which is a very good thing for the states and the charities and good causes they support. There have already been more billion-dollar jackpots in 2023 than any other year.
While the additional fees may seem high, the benefits of not having to wait in line when jackpots are enormous, avoiding the winter cold to buy tickets, and, most importantly, not losing your ticket, are worth the extra cost.
Illinois, a pioneer in online play, has its own lottery site where you can play online for the $2.00 face value. It is reasonable to assume other states will follow suit given how straightforward creating an e-commerce site is and how this service can drive player participation.
But how much are non-Americans willing to pay to join the frenzy?
This week (ending 13 October, 2023), the costs to play from abroad ranged from $4.96 per ticket (but you had to buy at least three tickets) to an astronomical $12.20 per ticket! That’s correct – one major international lottery provider charged more than 600% of face value!
All along, Win Millions Lotto, was selling tickets at just $3.50, with a promise that no matter how big the jackpots get, the price would remain the same. And for those that want to join in and enjoy the fun and excitement, but are more than happy to win tens of millions instead of a billion or more, their site also offers a $1.00 “mini” version.
Clearly, Powerball and Mega Millions are just as popular outside of America as inside. People are willing to pay a premium for a shot at the mind-boggling jackpots and there seems no sign of slowing down anytime soon!
Disclaimer: Win Millions Lotto is a licensed and regulated online lottery site. Please play responsibly and adhere to the legal gambling age in your jurisdiction.
