So I read an article today about the win of the mega millions jackpot, and that the prize pool was increased by the time of drawing. I am Australian where our lotteries work on a parimutuel basis where 60% of sales in a drawing are divided amongst the prize divisions. And the advertised division one prize is the minimum prize for that drawing and if they don’t sell enough entries to cover that the lottery operator has to eat it and cover the shortfall from their own funds if it is won.
In: 10
I think the question is why does the amount of the prize seem to increase throughout the evening until the the drawing above the posted amount?
If so, it’s because the posted amount is an estimate based on ticket sales. If sales exceed expectations by the drawing, then the larger gross receipts gets pooled into the potential winnings.
I.e. They post 1.2b prize. But lots and lots of tickets are sold, so by the drawing at 11pm, it’s actually 1.3B in prize money.
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