How does the Lotto people estimate the Jackpot so accuratly?

Question

I know they know it will be big if its a rollover and they know how much they have accumulated so far but how do they know how many tickets will sell the night or nights leading up to the draw? they are always so accurate!

Answer 1

Believe me, the Lottery, the RaceTrack, and The Casino are run by very smart Business people who  are wealthy and the wealthy people are wealthy because they do not tell their secrets. The older you get and the smarter you get, you do not tell your secrets. Please do not waste your money on the Lottery Ticket, The Casino, or The Race Track. If you want to go for an afternoon of good entertainment, just remember, it is entertainment. I know a guy I went to high school with who lost an inherited paid for house over gambling and  is poor and homeless still today, .. Stupidity...............

Answer 2

The close the machines down a little while before the draw.  Every lottery machine in the country is online and uploads its data to the main computers.  This information is collated in real time so they can predict where the jackpot will end up, and calculate the exact figure based on sales to date in time for the draw.

Answer 3

Also remember that whatever the lottery jackpot is, they dont pay that out.  If someone takes all cash, they reduce the jackpot by at least 30%.  If someone takes the money over 26 years, the lottery people get to put that money into an account and earn interest on the money that person won for the next 26 years.   For instance lets say you won 50 million dollars and decided to take the cash over 26 years.   They would pay you 1.92 million dollars per year, but they put that 50 million into something like a treasury bond or something earning 4% or so (and its tax free) and they are making about 2 million a year on that money.  So at the end of 26 years, they have paid you with the interest they earned on the 50 million plus they have about 52 million in their account in 26 years.  So it never really matters if they over estimate or underestimate.  They always make money.