Welcome Guest
Log In | Register )
The time is now 2:50 pm
You last visited October 24, 2014, 2:47 pm
All times shown are
Eastern Time (GMT-5:00)

USA Mega debuts Powerball lottery annuity calculator

PowerballPowerball: USA Mega debuts Powerball lottery annuity calculator

An Internet web site offering information about the United States' largest multi-state lottery games, Mega Millions and Powerball, today introduced a new feature for Powerball players.

USA Mega (www.usamega.com) created a new annuity calculation feature in response to the new Powerball rules regarding jackpot annuity payouts.

Prior to the August 31, 2005 Powerball drawing, jackpot winners who chose the annuity option would receive 30 equal-sized payouts, distributed over a 29-year period.

Starting with the August 31 drawing, annuity winners receive payouts according to an annually-increasing rate, starting with an initial payment of approximately 1.78% of the jackpot value, and ending with a final payment of approximately 5.56% of the jackpot value.

In the past, Powerball lottery players could use the USA Mega Jackpot Analysis page to calculate and compare after-tax prize payouts for both the annuity and cash options, but after the new payout schedule was introduced, players were left without a way to see what they would receive.

To alleviate player confusion caused by the new rate schedule, USA Mega created annuity rate calculation pages for each Powerball state, allowing players to see their annuity payout amounts on a year-to-year basis.

Additionally, the yearly payout information includes the federal and state tax information, so players can see their annual after-tax amounts.

According to the USA Mega web site, "Amounts shown are very close approximations to the amount a jackpot annuity winner would receive from the lottery every year."

The site also cautions players not to assume the amounts shown will be their final tax amount. 

USA Mega states, "[The amounts shown] are not intended to specify the final tax burden, which may vary depending on how the winner chooses to invest or dispense their prize money."

To exemplify the different ways a winner's final tax burden may differ, the site states, "For example, if the winner gave all their fortune to charity, they may actually end up getting money back that was initially withheld, whereas someone who buys a new mansion and a fleet of new cars would probably end up owing more taxes than shown [in the payout table]."

About USA Mega

USA Mega provides in-depth information about the United States' two largest multi-state lottery games, Mega Millions and Powerball.

Lottery players will find unique information not found on any other web site, including statistics, news, Jackpot Analysis, detailed prize payout information, past drawing information, powerful results search engine ("PowerSearch"), Frequently Asked Questions, and more.

One of the things making USA Mega so unique is that players can find all the information about the two games in one place, and in an easy-to-use manner.  Without USA Mega, players would need to track down the information from several different sources, or perform complicated calculations on their own.

USA Mega is a free web site, with no costs to access any part of the web site.

Lottery Post Staff

We'd love to see your comments here!  Register for a FREE membership — it takes just a few moments — and you'll be able to post comments here and on any of our forums. If you're already a member, you can Log In to post a comment.

32 comments. Last comment 9 years ago by CASH Only.
Page 1 of 3
dvdiva's avatar - 8ball

United States
Member #2338
September 17, 2003
2063 Posts
Offline
Posted: October 9, 2005, 12:57 pm - IP Logged

Yet another reason to check out www.usamega.com if you have questions about how much you will win. Thanks Todd.

    KyMystikal's avatar - Lottery-016.jpg
    Clarksville,Tennessee
    United States
    Member #8658
    November 13, 2004
    1930 Posts
    Online
    Posted: October 9, 2005, 1:06 pm - IP Logged

    I had thought before that if I ever won I would take payments but after looking at that payment schedule, I'm starting to feel like CashOnly. I'll take the Cash!!!!!!

    I love doubles and remember, it's just a game!!!!!!


      United States
      Member #22349
      September 23, 2005
      9 Posts
      Offline
      Posted: October 9, 2005, 6:08 pm - IP Logged

      I had thought before that if I ever won I would take payments but after looking at that payment schedule, I'm starting to feel like CashOnly. I'll take the Cash!!!!!!

      CAN People from california buy Powerball tickets in PTS??

        Avatar
        New Member

        United States
        Member #21961
        September 17, 2005
        17 Posts
        Offline
        Posted: October 9, 2005, 10:31 pm - IP Logged

        Smkkm1, I live outside the US, and I have been buying tickets from PTS for powerball and MM, for about two months.  I think they're in Spain, since I receive once a call from my bank to check some charges to my CC made in Spain.  I have won a couple a bucks, and used them in other transactions.  I will keep playing.

          Todd's avatar - Cylon 2.gif
          Chief Bottle Washer
          New Jersey
          United States
          Member #1
          May 31, 2000
          21582 Posts
          Online
          Posted: October 9, 2005, 11:27 pm - IP Logged

          I had thought before that if I ever won I would take payments but after looking at that payment schedule, I'm starting to feel like CashOnly. I'll take the Cash!!!!!!

          CAN People from california buy Powerball tickets in PTS??

          Yes and no.  PTS cannot SELL you lottery tickets, but if you use their service, you're entering into a partnership with them that essentially does the same thing.  It gives you 99% ownership of the ticket, which in my book is perfect.  I spent eight months researching all the available service companies, and they are the best I found.  In fact, they are one of the few that are not a scam.

           

          Check the State Lottery Report Card
          What grade did your lottery earn?

           

          Sign the Petition for True Lottery Drawings
          Help eliminate computerized drawings!

            Todd's avatar - Cylon 2.gif
            Chief Bottle Washer
            New Jersey
            United States
            Member #1
            May 31, 2000
            21582 Posts
            Online
            Posted: October 9, 2005, 11:36 pm - IP Logged

            Considering the number of people who requested this feature, the silence is deafening. 

             

            Check the State Lottery Report Card
            What grade did your lottery earn?

             

            Sign the Petition for True Lottery Drawings
            Help eliminate computerized drawings!

              wizeguy's avatar - animaniacs04

              United States
              Member #15143
              May 10, 2005
              389 Posts
              Offline
              Posted: October 9, 2005, 11:52 pm - IP Logged

              Considering the number of people who requested this feature, the silence is deafening. 

              It's a holiday weekend. I appreciate the feature but at my age I'd have to pass on annuity and take the cash.

               


                United States
                Member #22349
                September 23, 2005
                9 Posts
                Offline
                Posted: October 10, 2005, 12:43 am - IP Logged

                I had thought before that if I ever won I would take payments but after looking at that payment schedule, I'm starting to feel like CashOnly. I'll take the Cash!!!!!!

                CAN People from california buy Powerball tickets in PTS??

                Yes and no.  PTS cannot SELL you lottery tickets, but if you use their service, you're entering into a partnership with them that essentially does the same thing.  It gives you 99% ownership of the ticket, which in my book is perfect.  I spent eight months researching all the available service companies, and they are the best I found.  In fact, they are one of the few that are not a scam.

                lets say if somone wins this powerball of 240 million this wendsday (hopefully its me lol LOL) and if they use PTS .... what percent does PTS get out of it. and can I buy in CAlifornia???

                  dvdiva's avatar - 8ball

                  United States
                  Member #2338
                  September 17, 2003
                  2063 Posts
                  Offline
                  Posted: October 10, 2005, 12:57 am - IP Logged

                  I never considered Columbus Day a holiday. Smkkm1 - they have a 1% stake and California is a Megamillions state not a Powerball state.

                    Avatar
                    Sparta, NJ
                    United States
                    Member #18331
                    July 9, 2005
                    1977 Posts
                    Offline
                    Posted: October 10, 2005, 8:13 am - IP Logged

                    I am having a senior moment - actually several of them. Where is the calculator link?

                    Cheers

                    |||::> *'`*:-.,_,.-:*''*:--->>> Chewie  <<<---.*''*:-.,_,.-:*''* <:::|||

                    I only trust myself - and that's a questionable choice

                      Todd's avatar - Cylon 2.gif
                      Chief Bottle Washer
                      New Jersey
                      United States
                      Member #1
                      May 31, 2000
                      21582 Posts
                      Online
                      Posted: October 10, 2005, 8:17 am - IP Logged

                      At the bottom of the story above is a direct link to the Powerball Jackpot Analysis page.  Follow that link and then click on any state's link for the Annuity Payment Schedule.

                      Or, just go to www.usamega.com and click on Jackpot Analysis under the Powerball heading on the left.

                       

                      Check the State Lottery Report Card
                      What grade did your lottery earn?

                       

                      Sign the Petition for True Lottery Drawings
                      Help eliminate computerized drawings!

                        Avatar
                        Sparta, NJ
                        United States
                        Member #18331
                        July 9, 2005
                        1977 Posts
                        Offline
                        Posted: October 10, 2005, 8:22 am - IP Logged

                        At the bottom of the story above is a direct link to the Powerball Jackpot Analysis page.  Follow that link and then click on any state's link for the Annuity Payment Schedule.

                        Or, just go to www.usamega.com and click on Jackpot Analysis under the Powerball heading on the left.

                        Ahhhh. I normally don't go down the state listing. I buy in PA, and they have no taxes.

                        Found it. Thanks.

                        Cheers

                        |||::> *'`*:-.,_,.-:*''*:--->>> Chewie  <<<---.*''*:-.,_,.-:*''* <:::|||

                        I only trust myself - and that's a questionable choice

                          Avatar
                          New Mexico
                          United States
                          Member #12305
                          March 10, 2005
                          2984 Posts
                          Offline
                          Posted: October 10, 2005, 10:15 am - IP Logged

                          Nice calculator, as a matter of academic interest only for me.  I'd hate to think I'll live long enough to see the balloon at the end of the annuity payments.  The aches and pains would take the joy out of watching the balloon lift off.

                          Thanks Todd.

                          Jack

                          Absorb the good, ignore the bad, weigh the ugly.

                          It's about number behavior.

                          Egos don't count.

                           

                          Dedicated to the memory of Big Loooser

                           

                            Avatar
                            new delhi
                            India
                            Member #22145
                            September 20, 2005
                            174 Posts
                            Offline
                            Posted: October 10, 2005, 12:07 pm - IP Logged

                            I play your lottos occasionally and I always ask my sister in law in texas to buy the tickets as they have no state tax. Am debating whether to buy the PB this time ...240 is tempting..........