Welcome Guest
( Log In | Register )
The time is now 3:54 am
All times shown are
Eastern Time (GMT-5:00)
Update your time zone

cash percentages for PB and MM?Previous TopicNext Topic

Topic closed. 4 replies. Last post 7 years ago by ryanm.

Page 1 of 1
PrintE-mailLink
WakeUpDifferen
Avatar

United States
Member #23316
October 5, 2005
23 Posts
Offline
Posted: October 5, 2005, 11:37 pm - IP Logged

Hey does anyone know the average percentage of the Jackpot for the cash values for powerball and Megamillions?  Powerball always seems lower.  I know this has a lot to do with bond values and annuity interest rates at the given time of drawing, but I was just wondering if Powerball was consistenly lower than MM why this would be?  Is more of the money being used for the state benificiaries?

 

Just curious

    Down
    Down's avatar - Sphere animated2.gif
    Riverside, Ca
    United States
    Member #22056
    September 14, 2005
    163 Posts
    Offline
    Posted: October 5, 2005, 11:43 pm - IP Logged

    i think its 50% of the announced jackpot give or take

      lchoro

      United States
      Member #5666
      July 11, 2004
      260 Posts
      Offline
      Posted: October 6, 2005, 12:08 am - IP Logged

      Powerball's annuity term is for 29/30 years/payments, which is longer than MegaMillions'.  Hence, it requires a smaller cash payout to advertise the same jackpot annuity value.

        WakeUpDifferen
        Avatar

        United States
        Member #23316
        October 5, 2005
        23 Posts
        Offline
        Posted: October 6, 2005, 12:13 am - IP Logged

        Aha I see, thanks!  I'm guessing that MM is like 26 years or so huh?

          ryanm
          Avatar
          Morrison, IL
          United States
          Member #4741
          May 13, 2004
          1736 Posts
          Offline
          Posted: October 6, 2005, 12:31 am - IP Logged

          Powerball's annuity term is for 29/30 years/payments, which is longer than MegaMillions'.  Hence, it requires a smaller cash payout to advertise the same jackpot annuity value.

            Also, Powerball adjusts its annuity jackpot for inflation, so that requires even less cash to pay a given annuity.  Mega Millions does not adjust its annuity for inflation.

             
            Page 1 of 1