1 00:00:01,800 --> 00:00:06,960 Speaker 1: Welcome to brain Stuff, a production of iHeart Radio. Hey 2 00:00:07,040 --> 00:00:12,320 Speaker 1: brain Stuff Lauren bobibam here. In August two, the Mega 3 00:00:12,320 --> 00:00:17,239 Speaker 1: Millions lottery jackpot hit one point three three seven billion dollars, 4 00:00:17,560 --> 00:00:21,239 Speaker 1: the second largest jackpot in the game's history. It had 5 00:00:21,320 --> 00:00:24,000 Speaker 1: a lot of people stepping up to buy tickets, because 6 00:00:24,360 --> 00:00:26,480 Speaker 1: even if you know for a fact that the odds 7 00:00:26,520 --> 00:00:29,560 Speaker 1: of winning that jackpot are just one in three hundred 8 00:00:29,720 --> 00:00:33,080 Speaker 1: two million, five hundred and seventy five thousand, three hundred 9 00:00:33,080 --> 00:00:36,760 Speaker 1: and fifty, even if you know logically that you're far 10 00:00:36,840 --> 00:00:40,280 Speaker 1: more likely to get eaten by a shark or elected president, 11 00:00:41,120 --> 00:00:43,560 Speaker 1: buying a two dollar ticket seems like a small price 12 00:00:43,600 --> 00:00:48,479 Speaker 1: to pay for the chance to be ridiculously rich. According 13 00:00:48,520 --> 00:00:53,040 Speaker 1: to calculations by the statistics nerds at, the number of 14 00:00:53,040 --> 00:00:57,120 Speaker 1: people who play lotteries like Mega Millions or Powerball increases 15 00:00:57,280 --> 00:01:01,279 Speaker 1: exponentially with the cash value of the act pot. In 16 00:01:01,320 --> 00:01:04,040 Speaker 1: other words, the bigger the payoff, the more suckers are 17 00:01:04,440 --> 00:01:09,320 Speaker 1: people play. Here's how it works today. We're going to 18 00:01:09,440 --> 00:01:12,920 Speaker 1: use Powerball as our example. Every time someone wins the 19 00:01:12,920 --> 00:01:16,479 Speaker 1: Powerball jackpot, that jackpot resets to a prize of forty 20 00:01:16,480 --> 00:01:21,200 Speaker 1: million dollars Apparently only die hard powerball players buy tickets 21 00:01:21,200 --> 00:01:24,320 Speaker 1: when the jackpot is below a hundred million, but above 22 00:01:24,360 --> 00:01:28,280 Speaker 1: that milestone, ticket sales begin to rise quickly, and the 23 00:01:28,319 --> 00:01:31,800 Speaker 1: real tipping point, however, according to five thirty eight, occurs 24 00:01:31,840 --> 00:01:36,000 Speaker 1: around two hundred and fifty million, when regular Joe office 25 00:01:36,000 --> 00:01:39,440 Speaker 1: workers start pooling cash and ticket sales inflate to more 26 00:01:39,480 --> 00:01:44,560 Speaker 1: than two hundred million tickets per drawing. For the article 27 00:01:44,600 --> 00:01:46,760 Speaker 1: this episode is based on, Has to Work, spoke with 28 00:01:46,760 --> 00:01:50,040 Speaker 1: Gary Miller, a spokesman for the Pennsylvania Lottery, back in 29 00:01:50,080 --> 00:01:53,760 Speaker 1: twenty nineteen. The Pennsylvania Lottery is one of forty five 30 00:01:53,800 --> 00:01:57,280 Speaker 1: state lotteries, along with lotteries in Washington, d C, Puerto Rico, 31 00:01:57,400 --> 00:02:00,280 Speaker 1: and the US Virgin Islands, that participate in the power 32 00:02:00,280 --> 00:02:04,880 Speaker 1: ball game. Miller said there is definitely a sweet spot 33 00:02:04,960 --> 00:02:08,680 Speaker 1: for jackpot size when it comes to motivating players. It 34 00:02:08,800 --> 00:02:11,240 Speaker 1: used to be in the two hundred million range, but 35 00:02:11,360 --> 00:02:14,320 Speaker 1: now players seem to really engage when a jackpot reaches 36 00:02:14,400 --> 00:02:20,200 Speaker 1: three hundred million or above. The lottery is a big business. 37 00:02:20,760 --> 00:02:25,200 Speaker 1: In seen alone, Americans spent seventy one point eight billion 38 00:02:25,240 --> 00:02:28,639 Speaker 1: dollars on lottery games. That's about two hundred and twenty 39 00:02:28,639 --> 00:02:33,000 Speaker 1: dollars per adult American that year. But don't think for 40 00:02:33,040 --> 00:02:36,960 Speaker 1: a minute that the Multi State Lottery Association, which operates Powerball, 41 00:02:37,400 --> 00:02:41,799 Speaker 1: doesn't want us to spend even more. In October of 42 00:02:42,880 --> 00:02:46,040 Speaker 1: the Multi State Lottery Association announced some changes to its 43 00:02:46,080 --> 00:02:50,760 Speaker 1: Powerball gaming matrix, which substantially decreased the odds of winning 44 00:02:50,760 --> 00:02:54,240 Speaker 1: the Powerball Grand prize from a bit over one in 45 00:02:54,280 --> 00:02:56,840 Speaker 1: a hundred and seventy five million to one in two 46 00:02:56,960 --> 00:03:00,639 Speaker 1: hundred two million, two hundred and one thousand, three hundred 47 00:03:00,720 --> 00:03:04,160 Speaker 1: and thirty eight. And you see, the harder it is 48 00:03:04,200 --> 00:03:07,440 Speaker 1: to win the more the jackpot grows, and the more 49 00:03:07,480 --> 00:03:12,120 Speaker 1: the jackpot grows, the more people buy tickets. Miller confirmed 50 00:03:12,200 --> 00:03:14,960 Speaker 1: that the odds change was made because, quote, we do 51 00:03:15,080 --> 00:03:19,119 Speaker 1: know that powerball players are increasingly motivated by larger jackpots. 52 00:03:21,919 --> 00:03:25,440 Speaker 1: And let's not forget another compelling reason why more lottery 53 00:03:25,480 --> 00:03:28,920 Speaker 1: tickets are sold when there's a big, fat jackpot. Press 54 00:03:28,960 --> 00:03:32,919 Speaker 1: like this. Every time the Powerball or Mega Millions gets big, 55 00:03:33,000 --> 00:03:35,600 Speaker 1: the press pounces on the story, and when you hear 56 00:03:35,640 --> 00:03:38,320 Speaker 1: about it, you may know the odds of winning the 57 00:03:38,400 --> 00:03:40,840 Speaker 1: jackpot are roughly the same as pulling your name out 58 00:03:40,840 --> 00:03:43,080 Speaker 1: of a hat filled with the names of every man, woman, 59 00:03:43,080 --> 00:03:46,320 Speaker 1: and child in America. But if you don't buy a ticket, 60 00:03:46,440 --> 00:03:50,840 Speaker 1: your odds are infinitely worse. By the way, as of 61 00:03:50,920 --> 00:03:54,280 Speaker 1: this recording, the winner of that megabillion's jackpot, who bought 62 00:03:54,280 --> 00:03:58,200 Speaker 1: the ticket somewhere in Illinois, has not stepped forward. And 63 00:03:58,480 --> 00:04:01,600 Speaker 1: while that one point three three seven billion is nothing 64 00:04:01,640 --> 00:04:04,880 Speaker 1: to sneeze at, the largest winning lottery to date was 65 00:04:04,920 --> 00:04:09,080 Speaker 1: a one point five eight six billion dollar powerball jackpot, 66 00:04:09,360 --> 00:04:17,960 Speaker 1: which was split between three winners. In Today's episode is 67 00:04:17,960 --> 00:04:20,719 Speaker 1: based on the article the lottery tipping point, What size 68 00:04:20,800 --> 00:04:22,920 Speaker 1: jack pot makes you play on how stuff works dot 69 00:04:23,000 --> 00:04:25,880 Speaker 1: com written by Dave Rouse. Brain Stuff is production of 70 00:04:25,960 --> 00:04:28,320 Speaker 1: I Heart Radio and partnership with how stuff works dot Com, 71 00:04:28,400 --> 00:04:31,600 Speaker 1: and it's produced by Tyler Klang. Four more podcasts from 72 00:04:31,600 --> 00:04:34,760 Speaker 1: my heart Radio visit the heart Radio app, Apple Podcasts, 73 00:04:34,880 --> 00:04:36,719 Speaker 1: or wherever you listen to your favorite shows.