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$325 MILLION: Mega Millions lottery nears record high

Topic closed. 19 replies. Last post 9 years ago by psykomo.

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Guru101's avatar - rw6jhh
Indiana
United States
Member #48725
January 7, 2007
1953 Posts
Offline
Posted: August 30, 2007, 2:36 pm - IP Logged

Does anyone know if there is a cap on MM jackpots? I had heard that either Powerball or MM had a cap in which other prizes would substantially grow in value should the cap limit be reached.

Yes, it's actually called the Match 5 Bonus prize. Here's a description of it from the PowerBall website:

Match 5 Bonus Prize

Whenever the Powerball jackpot reaches a record level, the amount of the jackpot prize is limited to increases for each draw of no more than $25 million. The prize money collected in excess of the maximum $25 million increase, will be placed into the Match 5 Bonus prize pool and will accumulate until there is a jackpot winner. When there is a jackpot winner, the Match 5 Bonus prize pool will be divided equally among all winners of the Match 5 prize. The prize will be paid in one cash lump sum.

The Match 5 Bonus prize is in addition to any Power Play prizes that may be won. The Match 5 Bonus prize is not multiplied. A Match 5 winner who also played the Power Play option will win the original $200,000, the amount paid under the Power Play multiplier option, and the new Match 5 Bonus effective bonus prize. Consider the following scenario: A player matches the five white numbers, another player hits the jackpot by matching all five white numbers plus the red Powerball, MUSL draws the Power Play number "4", and there is $385,000 available for each Match 5 winner as an additional Match 5 Bonus prize for the drawing. This player would then win $200,000 (the original Match 5 prize) + $600,000 (the extra monies created from the Power Play) + $385,000 (the actual Match 5 Bonus) for a total of $1,185,000. Put another way, the player has his $200,000 prize multiplied by 4, and then he also receives the additional $385,000 Match 5 Bonus prize.

Although it is unlikely, it is possible that no Match 5 winner will exist for a drawing where the jackpot is won and in where a Match 5 Bonus Prize pools exists. In this case, the Match 5 Bonus prize pool will be paid out to the Match 4+1 winners.

Mega Millions doesn't have this.

Gonna win.Big Smile

    Jill34786's avatar - Lottery-006.jpg
    Windermere, FL/Franklin, TN
    United States
    Member #50210
    March 1, 2007
    843 Posts
    Offline
    Posted: August 30, 2007, 3:00 pm - IP Logged

    Thanks for the quick reply! Smile

      Todd's avatar - Cylon 2.gif
      Chief Bottle Washer
      New Jersey
      United States
      Member #1
      May 31, 2000
      23260 Posts
      Online
      Posted: August 30, 2007, 4:31 pm - IP Logged

      Thanks for the quick reply! Smile

      Hopefully you saw the last sentence in the reply to you: "Mega Millions doesn't have this."

      The answer may have been confusing because you asked, "Does MM have a cap?" and the first word was "Yes" in the reply.

      Mega Millions does NOT have a cap on jackpot increases.  Only Powerball has such a cap.

       

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

       

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

        psykomo's avatar - animal shark.jpg

        United States
        Member #4877
        May 30, 2004
        5118 Posts
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        Posted: August 30, 2007, 4:58 pm - IP Logged

        Hopefully you saw the last sentence in the reply to you: "Mega Millions doesn't have this."

        The answer may have been confusing because you asked, "Does MM have a cap?" and the first word was "Yes" in the reply.

        Mega Millions does NOT have a cap on jackpot increases.  Only Powerball has such a cap.

        thanks Todd

        FOR the information on MM & PB............JACKPOT'$$$$$$$$$$$$$$$

        THIS is INFORMATION that could only HELP people like PSYKOMO !!!

        PSYKOMO is sey'n that MM will be WON on 8/31/07..........................

        ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,they will not drag this PUPPY >>>>>>>>>>>

        OUT to much $$$$$$$$$$$$$$$$$$$$$$

        (NOT many know a lot about the LOTTERY) Thank "YOU" TODD)

          psykomo's avatar - animal shark.jpg

          United States
          Member #4877
          May 30, 2004
          5118 Posts
          Offline
          Posted: August 30, 2007, 4:59 pm - IP Logged

          Hopefully you saw the last sentence in the reply to you: "Mega Millions doesn't have this."

          The answer may have been confusing because you asked, "Does MM have a cap?" and the first word was "Yes" in the reply.

          Mega Millions does NOT have a cap on jackpot increases.  Only Powerball has such a cap.

          thanks Todd

          FOR the information on MM & PB............JACKPOT'$$$$$$$$$$$$$$$

          THIS is INFORMATION that could only HELP people like PSYKOMO !!!

          PSYKOMO is sey'n that MM will be WON on 8/31/07..........................

          ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,they will not drag this PUPPY >>>>>>>>>>>

          OUT to much $$$$$$$$$$$$$$$$$$$$$$

          (NOT many know a lot about the LOTTERY) Thank "YOU" TODD)