Are BIG American Lottery Jackpots Too Big?

A very lucky Powerball lottery player is $245 million richer right now and they must be thanking their lucky stars that they forked out a few bucks on a ticket. 

The sole winning US Powerball lottery ticket for Saturday night's $245.6 million jackpot draw was purchased at a Stop & Shop on Staten Island.  The winning Powerball numbers for Saturday, August, 11 are 5, 43, 56, 62, 68, Powerball 24.

If the winner chooses to take the lump sum option, they'll be walking away with an estimated $147,844,558.62 after a 25 percent federal tax is applied.

With both the US Powerball lottery and the Mega Millions consistently offering lottery enthusiasts big jackpots, many New Yorkers are wondering if there should be a cap on lottery jackpots.

While there are lotto players who absolutely love playing the big American jackpots, there are also those who feel that by having a jackpot cap, more people would end up winning a life-changing jackpot win.

One lottery player by the name of Summer Fletcher said, “See, I'd take a thousand right now, honestly. That's just me.”

Jordan Michael said, “Even like $100,000 could be life changing depending on who you are.”

Asking them what they thought of capping the jackpots, some said:

“Yeah, why not have it so more people can win more?”

“I've always said $50 million, cut it off, start a second game. That's obscene.”

“You're storing millions and millions and millions of money away that you'll never touch. Like its crazy, man, it's crazy.”
 
“These enormous wins just continue to reinforce this idea that only one person gets to have all the wealth.”

“Before the result, they all want it. After the result, their thinking changes.”

However, speaking to a veteran lottery ticket seller, Fershid Hushmendy, who works at Coulson's News in Loudonville, he seems to think that incorporating a jackpot cap will create a Catch 22:

“If the Powerball is $600 million and Mega is $200 million, they will play only Powerball. They won’t even look at the $200 million.”

He continued saying that if the jackpot is figure is lower, fewer people would play and with ticket sales being less, the estimated rollover amount will naturally also be a lot less.

But there are still those seasoned lottery players, who yes, purchase fewer tickets and not that often, like Ed, who say, “I'd still play. I would play the same as I always do.”

Another player by the name of Michael even went as far as saying, “I would keep $45 million and give $200 million away.”

Big lottery jackpots But, like we’ve seen over the years, what someone says before a lottery jackpot win, and what they say after winning millions, is more often than not, completely different.

For the record, lottery officials are not considering a jackpot cap. Which is fabulous, as here at PlayUSALotteries.com – we love big jackpots!

For those who were entertained with our previous article entitled, “First World Problems Every Jackpot Lottery Winners Experiences,” you will be tickled to know that these big American jackpots have caused quite a problem when it comes to advertising them.

Remember the $1.6 billion Powerball jackpot? Well, it didn’t just break all the existing lottery jackpot records, it also broke signs!

Throughout the country, many of the billboards and electronic displays advertising the 23-year-old lottery game were definitely not equipped to display three-digit jackpot on offer, as the largest number they could display was a paltry $999 million.

Big jackpots breaking signs
Charlie McIntyre, executive director of the New Hampshire Lottery Commission said, “We’ve never experienced a jackpot of this size and our signage wasn’t designed to exceed three digits.”

What a fantastic problem to have!

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This post was written by
Jason L - who has written 2645 articles
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