With a Record Powerball Jackpot, Media Across the Country Turn to Economics Professor for Expertise on Lottery

CNN | CBS MoneyWatch | The Economist | Boston Globe
January 14th, 2016 by 

Lottery ticket
Lottery ticket

While most of America was out buying their tickets for the $1.6 billion Powerball jackpot, reporters were calling Victor Matheson, professor of economics at the College of the Holy Cross, for his expertise on the game, which resulted in Matheson being quoted in more than 250 stories in media outlets across the county.

In three different CNN stories, Matheson talked about the odds of purchasing a winning ticket. There were 440 million tickets sold leading up to the previous drawing. According to Matheson “If you used those numbers, buying every combination, you’d guarantee yourself a victory, but you’d have just a 22% chance of buying the only winning ticket and keeping that jackpot all to yourself,” he told CNN. “You’d have a better chance (33%) of sharing with one other person or even two other people (25%). You’d also have a 12% chance of sharing it with three people and a 6% chance of splitting your winnings with four others.”

The story titled, “Could you guarantee yourself a Powerball jackpot?” garnered more than one million page views.

In another piece for CNN Money, Matheson talked about how Powerball entices the poor. According to the article, multiple studies in states such as Texas, Connecticut, South Carolina and Minnesota have shown that the majority of people who play instant lotto games have a below-average income. The reason? “Winning $5,000 on an instant game is a huge amount of money if you’re struggling financially — it can be life changing for someone just trying to get by,” said Matheson.

In a story for CBS MoneyWatch, Matheson said about $1.6 billion of the Powerball sales probably will go to fund the payouts of jackpots, with states getting another $1 billion or so. “The rest of the money will be spent on administrative costs, advertising and retailer commissions,” explains Matheson.

In The Economist, Matheson explained that sales are much more sensitive to the size of the jackpots than to the likelihood of winning. “After a particularly big prize is won, there is a halo effect, whereby ticket sales remain high even though the jackpot has reverted to the norm. So lottery designers go to great lengths to boost the size of the big prize,” he said.

In between interviews on the lottery, he was also fielding calls from the New York Times Yahoo! News, and Fortune Magazine about the NFL trying to move a team to L.A.

Select Media Coverage

For additional information, please contact Cristal Steuer at 508-793-2419.

| More

Comments are closed.

06/24/19 World Premiere of Osvaldo Golijov’s ‘Falling Out of Time’ on Oct. 31 at College of the Holy Cross
06/24/19 Holy Cross Professors Celebrated for Outstanding Scholarship and Student Advising
06/20/19 Holy Cross Professor Quoted in The New York Times on Antitrust Lessons From the Gilded Age
06/20/19 Why Do People Love ‘Dark Tourism’? Holy Cross Professor Shares Insight With BBC 5 Radio
See All

AJCU Service Learning Professionals Conference
6/25/2019
J.D. Power Center for Liberal Arts in the World
Henry M. Hogan Campus Center 406(07)
Open to the Public
See More >>


AJCU Service Learning Professionals Conference
6/25/2019
J.D. Power Center for Liberal Arts in the World
Henry M. Hogan Campus Center Suite B/C - 4th Fl
Open to the Public
See More >>


AJCU Service Learning Professionals Conference
6/25/2019
J.D. Power Center for Liberal Arts in the World
Henry M. Hogan Campus Center Suite A - 4th Fl
Open to the Public
See More >>


AJCU Service Learning Professionals Conference
6/26/2019
J.D. Power Center for Liberal Arts in the World
Henry M. Hogan Campus Center 406(08)
Open to the Public
See More >>


AJCU Service Learning Professionals Conference
6/26/2019
J.D. Power Center for Liberal Arts in the World
Henry M. Hogan Campus Center Suite B/C - 4th Fl
Open to the Public
See More >>


AJCU Service Learning Professionals Conference
6/26/2019
J.D. Power Center for Liberal Arts in the World
Henry M. Hogan Campus Center Suite A - 4th Fl
Open to the Public
See More >>


AJCU Service Learning Professionals Conference
6/27/2019
J.D. Power Center for Liberal Arts in the World
Henry M. Hogan Campus Center Suite A - 4th Fl
Open to the Public
See More >>


AJCU Service Learning Professionals Conference
6/27/2019
J.D. Power Center for Liberal Arts in the World
Henry M. Hogan Campus Center 406(08)
Open to the Public
See More >>


AJCU Service Learning Professionals Conference
6/27/2019
J.D. Power Center for Liberal Arts in the World
Henry M. Hogan Campus Center Suite B/C - 4th Fl
Open to the Public
See More >>


Odyssey 2023 Program Workshop
8/26/2019
Odyssey
Henry M. Hogan Campus Center Suite B - 4th Fl
Open to Campus Community Only
See More >>


Odyssey 2023 Program Workshop
8/26/2019
Odyssey
Henry M. Hogan Campus Center Suite C - 4th Fl
Open to Campus Community Only
See More >>


Odyssey 2023 Program Workshop
8/27/2019
Odyssey
Henry M. Hogan Campus Center 401
Open to Campus Community Only
See More >>


Odyssey 2023 Program Workshop
8/27/2019
Odyssey
Henry M. Hogan Campus Center Suite C - 4th Fl
Open to Campus Community Only
See More >>


Odyssey 2023 Program Workshop
8/27/2019
Odyssey
Henry M. Hogan Campus Center Suite A - 4th Fl
Open to Campus Community Only
See More >>


Odyssey 2023 Program Workshop
8/27/2019
Odyssey
Henry M. Hogan Campus Center Suite B - 4th Fl
Open to Campus Community Only
See More >>


Odyssey 2023 Program Workshop
8/27/2019
Odyssey
Henry M. Hogan Campus Center 407(09)
Open to Campus Community Only
See More >>


MPE Training
8/28/2019
Office of Multicultural Education
Henry M. Hogan Campus Center 401
Open to Campus Community Only
See More >>


Odyssey 2023 Program Workshop
8/29/2019
Odyssey
Henry M. Hogan Campus Center 407(09)
Open to Campus Community Only
See More >>


MPE Training
8/29/2019
Office of Multicultural Education
Henry M. Hogan Campus Center 401
Open to Campus Community Only
See More >>


Odyssey 2023 Program Workshop
8/30/2019
Odyssey
Henry M. Hogan Campus Center Suite A - 4th Fl
Open to Campus Community Only
See More >>


Odyssey 2023 Program Workshop
8/30/2019
Odyssey
Henry M. Hogan Campus Center 406(07)
Open to Campus Community Only
See More >>


MPE Training
8/30/2019
Office of Multicultural Education
Henry M. Hogan Campus Center 401
Open to Campus Community Only
See More >>


RHA Weekly Meeting
9/4/2019
Residence Life & Housing
Henry M. Hogan Campus Center 406(08)
RHA weekly meeting in which all hall councils are invited to share...
See More >>


Handshake on the Hoval
9/4/2019
Center for Career Development
Henry M. Hogan Campus Center Lobby Table 3
Stop by the Hoval to meet Handshake, the new career platform...
See More >>


Handshake on the Hoval
9/4/2019
Center for Career Development
Henry M. Hogan Campus Center Lobby Table 2
Stop by the Hoval to meet Handshake, the new career platform...
See More >>


Handshake on the Hoval - Rain Location
9/4/2019
Center for Career Development
Henry M. Hogan Campus Center Lobby Table 1
Stop by the Hoval to meet Handshake, the new career platform...
See More >>


Handshake on the Hoval
9/4/2019
Center for Career Development
Henry M. Hogan Campus Center Outdoor Oval
Stop by the Hoval to meet Handshake, the new career platform...
See More >>


Latinidad Identidad
9/9/2019
Office of Multicultural Education
Henry M. Hogan Campus Center 320
Open to Campus Community Only
See More >>


Eta Sigma Phi Weekly Meeting
9/10/2019
Classics
Henry M. Hogan Campus Center 407(08)
Open to Campus Community Only
See More >>


Latinidad Identidad
9/11/2019
Office of Multicultural Education
Henry M. Hogan Campus Center 401
Open to Campus Community Only
See More >>


RHA Weekly Meeting
9/11/2019
Residence Life & Housing
Henry M. Hogan Campus Center 406(08)
RHA weekly meeting in which all hall councils are invited to share...
See More >>


LibFest
9/12/2019
Holy Cross Libraries
Kimball Hall Kimball Quad
Open to Campus Community Only
See More >>


LibFest Rain Location
9/12/2019
Holy Cross Libraries
Henry M. Hogan Campus Center Crossroads Lounge
Open to Campus Community Only
See More >>


Latinidad Identidad
9/16/2019
Office of Multicultural Education
Henry M. Hogan Campus Center 320
Open to Campus Community Only
See More >>


Eta Sigma Phi Weekly Meeting
9/17/2019
Classics
Henry M. Hogan Campus Center 407(08)
Open to Campus Community Only
See More >>


Latinidad Identidad
9/18/2019
Office of Multicultural Education
Henry M. Hogan Campus Center 401
Open to Campus Community Only
See More >>


RHA Weekly Meeting
9/18/2019
Residence Life & Housing
Henry M. Hogan Campus Center 406(08)
RHA weekly meeting in which all hall councils are invited to share...
See More >>


Latinidad Identidad
9/23/2019
Office of Multicultural Education
Henry M. Hogan Campus Center 320
Open to Campus Community Only
See More >>


GE Meet & Greet Session
9/23/2019
Center for Career Development
Henry M. Hogan Campus Center 406
Students selected to interview with GE will be invited to attend this...
See More >>


Eta Sigma Phi Weekly Meeting
9/24/2019
Classics
Henry M. Hogan Campus Center 407(08)
Open to Campus Community Only
See More >>


Latinidad Identidad
9/25/2019
Office of Multicultural Education
Henry M. Hogan Campus Center 401
Open to Campus Community Only
See More >>


RHA Weekly Meeting
9/25/2019
Residence Life & Housing
Henry M. Hogan Campus Center 406(07)
RHA weekly meeting in which all hall councils are invited to share...
See More >>


3rd Festival of the Arts at Holy Cross
9/27/2019
Music
Henry M. Hogan Campus Center Outdoor Oval
Open to the Public
See More >>


Holy Cross Chapel Artist Series-Ezequiel Menendez
9/29/2019
Music
St Joseph Memorial Chapel St Joseph Chapel
September 29th, 3:00 pmDr. Ezequiel MenendezHoly Cross' Organ...
See More >>


Latinidad Identidad
9/30/2019
Office of Multicultural Education
Henry M. Hogan Campus Center 320
Open to Campus Community Only
See More >>


Luncheon with Lauren Markham
9/30/2019
Latin American and Latino Studies
Henry M. Hogan Campus Center Suite A - 4th Fl
Open to Campus Community Only
See More >>


Eta Sigma Phi Weekly Meeting
10/1/2019
Classics
Henry M. Hogan Campus Center 407(08)
Open to Campus Community Only
See More >>


Latinidad Identidad
10/2/2019
Office of Multicultural Education
Henry M. Hogan Campus Center 401
Open to Campus Community Only
See More >>


RHA Weekly Meeting
10/2/2019
Residence Life & Housing
Henry M. Hogan Campus Center 406(08)
RHA weekly meeting in which all hall councils are invited to share...
See More >>


Latinidad Identidad
10/7/2019
Office of Multicultural Education
Henry M. Hogan Campus Center 320
Open to Campus Community Only
See More >>


Eta Sigma Phi Weekly Meeting
10/8/2019
Classics
Henry M. Hogan Campus Center 407(08)
Open to Campus Community Only
See More >>


Latinidad Identidad
10/9/2019
Office of Multicultural Education
Henry M. Hogan Campus Center 401
Open to Campus Community Only
See More >>


RHA Weekly Meeting
10/9/2019
Residence Life & Housing
Henry M. Hogan Campus Center 406(08)
RHA weekly meeting in which all hall councils are invited to share...
See More >>


Latinidad Identidad
10/16/2019
Office of Multicultural Education
Henry M. Hogan Campus Center 401
Open to Campus Community Only
See More >>


RHA Weekly Meeting
10/16/2019
Residence Life & Housing
Henry M. Hogan Campus Center 406(08)
RHA weekly meeting in which all hall councils are invited to share...
See More >>


Latinidad Identidad
10/21/2019
Office of Multicultural Education
Henry M. Hogan Campus Center 320
Open to Campus Community Only
See More >>


Eta Sigma Phi Weekly Meeting
10/22/2019
Classics
Henry M. Hogan Campus Center 407(08)
Open to Campus Community Only
See More >>


Latinidad Identidad
10/23/2019
Office of Multicultural Education
Henry M. Hogan Campus Center 401
Open to Campus Community Only
See More >>


RHA Weekly Meeting
10/23/2019
Residence Life & Housing
Henry M. Hogan Campus Center 406(08)
RHA weekly meeting in which all hall councils are invited to share...
See More >>


Latinidad Identidad
10/28/2019
Office of Multicultural Education
Henry M. Hogan Campus Center 320
Open to Campus Community Only
See More >>


Eta Sigma Phi Weekly Meeting
10/29/2019
Classics
Henry M. Hogan Campus Center 407(08)
Open to Campus Community Only
See More >>


Holy Cross Chapel Artist Series Halloween Concert with Matt Luca and Michelle Sacco
10/29/2019
Features
St Joseph Memorial Chapel St Joseph Chapel
A Hallowe'en ConcertHoly Cross' Organ Scholars Matt Luca...
See More >>


Latinidad Identidad
10/30/2019
Office of Multicultural Education
Henry M. Hogan Campus Center 401
Open to Campus Community Only
See More >>


RHA Weekly Meeting
10/30/2019
Residence Life & Housing
Henry M. Hogan Campus Center 406(08)
RHA weekly meeting in which all hall councils are invited to share...
See More >>


Poverty Simulation Workshop
10/30/2019
Office of Multicultural Education
Henry M. Hogan Campus Center Ballroom & Dunn
Open to Campus Community Only
See More >>


Latinidad Identidad
11/4/2019
Office of Multicultural Education
Henry M. Hogan Campus Center 320
Open to Campus Community Only
See More >>


Eta Sigma Phi Weekly Meeting
11/5/2019
Classics
Henry M. Hogan Campus Center 407(08)
Open to Campus Community Only
See More >>


Latinidad Identidad
11/6/2019
Office of Multicultural Education
Henry M. Hogan Campus Center 401
Open to Campus Community Only
See More >>


RHA Weekly Meeting
11/6/2019
Residence Life & Housing
Henry M. Hogan Campus Center 406(08)
RHA weekly meeting in which all hall councils are invited to share...
See More >>


Latinidad Identidad
11/11/2019
Office of Multicultural Education
Henry M. Hogan Campus Center 320
Open to Campus Community Only
See More >>


Eta Sigma Phi Weekly Meeting
11/12/2019
Classics
Henry M. Hogan Campus Center 407(08)
Open to Campus Community Only
See More >>


Resume Writing Workshop with Deloitte and the Center for Career Development
11/12/2019
Center for Career Development
Henry M. Hogan Campus Center 320
Open to all students! Create a resume the write way!Come hear from...
See More >>


Latinidad Identidad
11/13/2019
Office of Multicultural Education
Henry M. Hogan Campus Center 401
Open to Campus Community Only
See More >>


RHA Weekly Meeting
11/13/2019
Residence Life & Housing
Henry M. Hogan Campus Center 406(08)
RHA weekly meeting in which all hall councils are invited to share...
See More >>


Into the Deep: My Journey from Feminism to Catholicism
11/14/2019
Featured
Henry M. Hogan Campus Center Suite A - 4th Fl
Professor Abigail Favale, Director of the William Penn...
See More >>


Latinidad Identidad
11/18/2019
Office of Multicultural Education
Henry M. Hogan Campus Center 320
Open to Campus Community Only
See More >>


Eta Sigma Phi Weekly Meeting
11/19/2019
Classics
Henry M. Hogan Campus Center 409
Open to Campus Community Only
See More >>


Holy Cross Chapel Artist Series - Olivier Latry
11/19/2019
Music
St Joseph Memorial Chapel St Joseph Chapel
November 19th, 7:30 pm Olivier Latry, Titular Organist at...
See More >>


Latinidad Identidad
11/20/2019
Office of Multicultural Education
Henry M. Hogan Campus Center 401
Open to Campus Community Only
See More >>


RHA Weekly Meeting
11/20/2019
Residence Life & Housing
Henry M. Hogan Campus Center 406(08)
RHA weekly meeting in which all hall councils are invited to share...
See More >>


Eta Sigma Phi Weekly Meeting
12/3/2019
Classics
Henry M. Hogan Campus Center 409
Open to Campus Community Only
See More >>


RHA Weekly Meeting
12/4/2019
Residence Life & Housing
Henry M. Hogan Campus Center 406(08)
RHA weekly meeting in which all hall councils are invited to share...
See More >>


Holy Cross Concert Band Concert
12/8/2019
Music
Henry M. Hogan Campus Center Ballroom & 328
Open to the Public
See More >>


Eta Sigma Phi Weekly Meeting
12/10/2019
Classics
Henry M. Hogan Campus Center 409
Open to Campus Community Only
See More >>


Latinidad Identidad
1/27/2020
Office of Multicultural Education
Henry M. Hogan Campus Center 401
Open to Campus Community Only
See More >>


Multicultural Peer Educators Meeting
1/27/2020
Office of Multicultural Education
Henry M. Hogan Campus Center 320
Open to Campus Community Only
See More >>


Latinidad Identidad
1/29/2020
Office of Multicultural Education
Henry M. Hogan Campus Center 401
Open to Campus Community Only
See More >>

See All