FOMO threshold increases with higher jackpots resulting in subsequent lower ticket sales...
P Morgan based its modelling on the US, where Powerball hit a record high jackpot of $US1.6 billion ($2.4 billion) in January 2016.
That initially caused a large spike in ticket sales, but also bumped up the ‘‘ FOMO point’ ’ from $US171 million to $US280 million. Ticket sales fell in the US from 2017 onwards.
‘‘ While there was an increase in ticket sales for the larger jackpots, this was not enough to compensate for the decrease in sales for lower-mid size jackpots due to jackpot fatigue,’’ Mr Carducci said.