What is a Lottery Rollover?
Since the 15th century the act of offering a possible prize for the drawing of lots, and today there are an extensive number of lotteries in action all over the world. While some governments have outlawed lotteries, others have endorsed it so much so that they have nationalised it.
When no one wins the jackpot in a draw, a lottery rollovers occurs. This means that the funds that would normally have been awarded to highest winning player are added to the jackpot for the following game instead.
When a jackpot rolls over twice it is referred to as a double rollover, and 3 times is referred to as a triple lottery rollover and so on. Each rollover has a fairly easy name depending on the number of times, however as many as 20 rollovers could occur in a single lottery (known as a vigintuple) and names could start to get a bit tricky.
Lotteries officially surfaced as early as the 15th century and have since evolved in an extensive way. They have, however, not been accepted by every country in the world over the past few centuries. In spite of the fact that lotteries were very common in the United States of America in the 19th century, they were almost completely illegal by the 20th century – displaying just how much the industry could change over time.
The ban on gambling in the US and most of Europe stuck until long after the second World War, before casinos and lotteries both began to reappear in the 1960s but this time as a way for governments to increase revenue without raising any taxes.
Types of Lotteries
There are many different ways in which a lottery can occur or run. For instance, the prize that is up for grabs could be a fixed amount of money or it can be a set number of goods. This format increases the organiser’s risk due to the fact that there could be an insufficient number of tickets sold.
It is more common to find a lottery that offers a prize that is calculated as a fixed percentage of the whole sum collected from ticket sales. Some organisers will offer a 50-50 draw, meaning that they will offer a prize of 50 per cent of the game’s revenue.
Most lotteries allow the players, or people who purchase the tickets, to select their preferred numbers on the ticket itself, which increases the possibility of having multiple winners. If none of those number are chosen by any one player, a lottery rollover will occur.
Lottery Rollover Cause and Effect
A lottery rollover essentially aids in pushing the jackpot higher than the original prize, due to the fact that ticket sales (as well as funds from the draw that was held previously) are added to the overall value of the lottery’s top prize.
While the prize subsequently increases, more and more people are prompted or enticed to buy lottery tickets in the hope to receive a far larger win. Logically speaking, the game would go stale if players were to play for the same amount every week, creating far less intrigue and excitement, and therefore far less ticket sales.