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$218 MILLION: Powerball lottery jackpot increased

Topic closed. 81 replies. Last post 6 years ago by DC81.

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United States
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June 23, 2010
1325 Posts
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Posted: April 5, 2011, 12:31 pm - IP Logged

I didn't know that the Powerball continues to increase. I didn't know why the Powerball's lump sum is only about 50% of the announced jackpot versus about 60+% in Mega Millions.

    Guru101's avatar - rw6jhh
    Indiana
    United States
    Member #48725
    January 7, 2007
    1954 Posts
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    Posted: April 5, 2011, 12:44 pm - IP Logged

    I didn't know that the Powerball continues to increase. I didn't know why the Powerball's lump sum is only about 50% of the announced jackpot versus about 60+% in Mega Millions.

    They are 2 different games.

    Gonna win.Big Smile

      Avatar
      CT
      United States
      Member #62299
      June 23, 2008
      53 Posts
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      Posted: April 5, 2011, 12:55 pm - IP Logged

      I need to win this one. I'm going to throw a big party once I win. U all re invited & u got paid for coming to this party.

      Moet, Caviar and non stop music for a whole week. May the God's Will be seeing this party happen. Amen

      Guten Tag, Time Traveler, wie geht es Ihnen?

        joshuacloak's avatar - Money Swim-uncle-scrooge-mcduck-35997717-677-518.jpg

        United States
        Member #32537
        February 12, 2006
        698 Posts
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        Posted: April 5, 2011, 3:33 pm - IP Logged

        2 diff games indeed

        powerball and mega millions use to be epic enemys,  drawing battle lines across whole  states borders form each other states.

        now they moved in together! , and maybe 1 day will have a child born of their union, some higher odds , cost 2 buck a ticket 3rd lotto game they said maybe would happen.

         guest the lottery's are taking their sweet time doing backroom planning of it if it ever goes down.

        thro as of right now current 2 games  are filling my needs just fine for a high jackpot to bet on.  hope they keep it up.

         

        as for 218, if it rolls,  it should roll to about 255m to 265m range, guested by  must recent past history of powerball  sales data in 200m range

          starchild_45's avatar - spherewall2
          kent, washington
          United States
          Member #3509
          January 26, 2004
          465 Posts
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          Posted: April 5, 2011, 4:03 pm - IP Logged

          you got that right mightwin, always compare the cash, as powerball just puts their in govt bonds longer to appear bigger

           

          thro 109m cash jackpot m sure would be nice to bring to lawyers office , thro its nonething compared to  Mega millions Cash jackpots of 240m and 203m we just had this year

           

          by the way, powerball biggest ever cash jackpot  amount was 177.2m  cash , february 18, 2006,   yet marketed as $365 million,       rather sad when MM beats Powerball Cash Record Twice in 1 year within 3 months of each other at that LOL  , powerball even has a stupid Annuity Jackpot cap, once it hits 390m, or 25m over old recold, a Jackpot cap goes into effect, all that money that could of made it fly up to 400m range, or more, goes instand into the 5-0 winner pool, but that bonus prize only gets paid out on whatever draw their is jackpot winner.

          sure it be nice to win 5-0 and get even more money, but am playing for the jackpot, not 2nd's 

          if they ever do hit the jackpot cap 390m is when it actives, , And it rolls again somehow by pure insane luck , they are idiots, as they would of passed up marketing a 500m buck jackpot  only to market a 415m jackpot !

          , they are in truth only hurting their sells by a jackpot cap, and with their cash record of 177.2m vs 240m mega millions, They have no chance in hell of ever catching up to mega millions cash record.   

          they have higher odds too, so powerball a sick joke to have its cash record broken twice this year alone by mega millions with less odds

          MMs is the heavy weight, powerball the more clever one, its great at covering  up its weakness by looking bigger then it really is.

          plus i think some group of 8 won that one 177m to,  but their no way in hell am playing in a group LOL, if someone tryed to sue me, i would not fight them in court and i would kill them. as that's how i treat thefts who rob me"wrong person"

          say what you may about powerball. i have played both of them for years steadily and i have had more wins on powerball than i have ever on mega. i have never had a win of a hundred dollars on mega and several on powerball. my last big win on powerball was 406 dollars. i will take a jackpot from either one but i am luckier on powerball.

            starchild_45's avatar - spherewall2
            kent, washington
            United States
            Member #3509
            January 26, 2004
            465 Posts
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            Posted: April 5, 2011, 4:10 pm - IP Logged

            Guten Tag, Time Traveler, wie geht es Ihnen?

            i went to germany once and couldn't get anyone to tell me the rules in english so i could play a game. so sad.

            Angry

              BuyLow's avatar - palm tree.jpg
              Florida
              United States
              Member #61435
              May 22, 2008
              908 Posts
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              Posted: April 5, 2011, 4:32 pm - IP Logged

              I didn't know that the Powerball continues to increase. I didn't know why the Powerball's lump sum is only about 50% of the announced jackpot versus about 60+% in Mega Millions.

              Why do Mega Millions and Powerball show different Cash Option amounts for similar-sized jackpots?

              A fixed percentage of every Mega Millions and Powerball ticket sold goes into its CASH jackpot. The cash jackpot is all the money that the lottery has on hand from the sale of tickets in the game. If a player chooses the cash option, then the lottery will pay entire cash amount to the winner (less income tax withholding amounts required by federal and state laws).

              The lottery also offers an ANNUITY jackpot option that can help reduce taxes and offers the winner a 100% guaranteed income stream over time. The two games offer different types of annual income streams, giving the players more options. If a winner elects the annuity option, then the lottery will invest the entire cash amount before taxes are deducted. The difference between the CASH jackpot and the ANNUITY jackpot is the interest earnings that build over time. The Powerball annuity jackpot earns more interest for two reasons.

               

              1. The Powerball Annuity Jackpot invests more money for a longer period of time. The Powerball annuity is paid out in graduated amounts (rising by 4% per year to keep up with inflation) over 29 years (30 payments). The smallest payment is the first payment and the largest payment is the last payment. The Mega Millions annuity is paid out over 25 years (26 payments) and each payment is the same amount. In both cases, the first payment is an immediate cash payment.
              2. The Powerball Annuity Jackpot is invested in a wider variety of securities than the Mega Millions Jackpot, allowing more interest to be earned. All of the securities used to support both games' jackpots offer some level of U.S. Government backing. It is important to note that the lottery is invested in these securities, not the winner. The winner has a contract with the states to pay the annual prize payment, no matter what happens to the securities.

              Since the two games' jackpots are invested differently, if the CASH jackpots are the same, the Powerball jackpot will pay a larger ANNUITY over time than Mega Millions. If the ANNUITY value of the jackpots are the same, then Mega Millions' CASH jackpot will be larger than Powerball's CASH jackpot.

              The CASH jackpot amounts present the true present-day values of the prizes. A winner who wishes to take the CASH jackpot should compare only the CASH jackpot amounts. The ANNUITY jackpot amounts will be important for those winners who plan to select a long-term, fully guaranteed income stream.

                rdgrnr's avatar - walt
                Way back up in them dadgum hills, son!
                United States
                Member #73904
                April 28, 2009
                14903 Posts
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                Posted: April 5, 2011, 7:00 pm - IP Logged

                Why do Mega Millions and Powerball show different Cash Option amounts for similar-sized jackpots?

                A fixed percentage of every Mega Millions and Powerball ticket sold goes into its CASH jackpot. The cash jackpot is all the money that the lottery has on hand from the sale of tickets in the game. If a player chooses the cash option, then the lottery will pay entire cash amount to the winner (less income tax withholding amounts required by federal and state laws).

                The lottery also offers an ANNUITY jackpot option that can help reduce taxes and offers the winner a 100% guaranteed income stream over time. The two games offer different types of annual income streams, giving the players more options. If a winner elects the annuity option, then the lottery will invest the entire cash amount before taxes are deducted. The difference between the CASH jackpot and the ANNUITY jackpot is the interest earnings that build over time. The Powerball annuity jackpot earns more interest for two reasons.

                 

                1. The Powerball Annuity Jackpot invests more money for a longer period of time. The Powerball annuity is paid out in graduated amounts (rising by 4% per year to keep up with inflation) over 29 years (30 payments). The smallest payment is the first payment and the largest payment is the last payment. The Mega Millions annuity is paid out over 25 years (26 payments) and each payment is the same amount. In both cases, the first payment is an immediate cash payment.
                2. The Powerball Annuity Jackpot is invested in a wider variety of securities than the Mega Millions Jackpot, allowing more interest to be earned. All of the securities used to support both games' jackpots offer some level of U.S. Government backing. It is important to note that the lottery is invested in these securities, not the winner. The winner has a contract with the states to pay the annual prize payment, no matter what happens to the securities.

                Since the two games' jackpots are invested differently, if the CASH jackpots are the same, the Powerball jackpot will pay a larger ANNUITY over time than Mega Millions. If the ANNUITY value of the jackpots are the same, then Mega Millions' CASH jackpot will be larger than Powerball's CASH jackpot.

                The CASH jackpot amounts present the true present-day values of the prizes. A winner who wishes to take the CASH jackpot should compare only the CASH jackpot amounts. The ANNUITY jackpot amounts will be important for those winners who plan to select a long-term, fully guaranteed income stream.

                "The winner has a contract with the states to pay the annual prize payment, no matter what happens to the securities."

                 

                That's a red flag in my book. I don't like the government's track record with handling money and I don't have complete faith in their guarantees as of late. Especially with a chief executive as unstable as the one we have now and state legislatures similarly comprised. When they declare a national or state emergency and suspend all obligations I don't intend to be under their thumb voluntarily.

                I'll take the cash.


                                                             
                                     
                                                         

                 

                 

                 

                 

                                                                                                                   

                "The only thing necessary for evil to triumph is for good men to do nothing"

                                                                                                            --Edmund Burke

                 

                 

                  sandia's avatar - disney24
                  TEXAS
                  United States
                  Member #107766
                  March 13, 2011
                  196 Posts
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                  Posted: April 5, 2011, 7:05 pm - IP Logged

                  "The winner has a contract with the states to pay the annual prize payment, no matter what happens to the securities."

                   

                  That's a red flag in my book. I don't like the government's track record with handling money and I don't have complete faith in their guarantees as of late. Especially with a chief executive as unstable as the one we have now and state legislatures similarly comprised. When they declare a national or state emergency and suspend all obligations I don't intend to be under their thumb voluntarily.

                  I'll take the cash.

                   I agree with you 100%. The deficit is in the trillions and the government needs band aids to seal the dam, well, not with my lottery winnings the wouldn't! GIMME THE CASH!

                   

                  ***We shall pay you in annuities, NO YOU WILL NOT!*****Stooges

                    rdgrnr's avatar - walt
                    Way back up in them dadgum hills, son!
                    United States
                    Member #73904
                    April 28, 2009
                    14903 Posts
                    Offline
                    Posted: April 5, 2011, 8:41 pm - IP Logged

                    I'm gonna make a point of going over to Cut N Shoot just to buy a ticket. It's just across the interstate from me. Actually, I planned on being that way Tuesday for an oil change. 

                    Next PB winner... ticket bought in Cut n Shoot, Texas. Dance (Nice to see so many Houstonians here) 

                     

                    As a side note, Kashi gives me indigestion. Every. Single. Thing I've eaten with the Kashi brand on it gave me a tummy ache. Blech.

                    Kashi makes a frozen pizza too, believe it or not (barf).

                    I'll be watchin for a winner in Cut n Shoot in the News Forum, Piaceri.

                    Good luck to ya!


                                                                 
                                         
                                                             

                     

                     

                     

                     

                                                                                                                       

                    "The only thing necessary for evil to triumph is for good men to do nothing"

                                                                                                                --Edmund Burke

                     

                     

                      Avatar
                      Baton Rouge, LA
                      United States
                      Member #4602
                      May 7, 2004
                      699 Posts
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                      Posted: April 5, 2011, 10:21 pm - IP Logged

                      Office pool ready to go for this one...10 of us, so $109 million would do just fine!

                      I run an office pool of 13 and I work in a state government office in my state capital city!  If it worked for the MegaMillions, maybe it will work for us!  I've been running this pool for several years and it's about time we won.

                      Prisoner Six

                      "I am not a number, I am a free man!"

                        nickey t's avatar - necros
                        new york
                        United States
                        Member #108522
                        March 26, 2011
                        28 Posts
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                        Posted: April 6, 2011, 12:38 am - IP Logged

                        good luck to everyone for tonights drawing .. i plan on having a meet and greet for those daring enough to wear their lotterypost bikini's {in the tri-state area} [w/todd hosting] should i win

                        but a side of caution to those that just LOVE LOVE LOVE ANNUITY payments .. i spoke with someone in the finances and while this option was good for those playing lotteries in the early 80s .. not so the case now .. the states and the gov will be your bed-mates for life [you don't want that, they both have the gonorrhea and  chlamydia [respectively]] it will appear that you have the ultimate payoff but with the the yearly INCREASES of taxes, you will end up netting LESS than the seemingly low CASH OPTION payouts .. another thing, 1% of annuity winners actually can live and are content with that measly yearly payout ... but the funny thing is when you are THAT RICH some thing called common sense kicks in and you kinda want your money NOW to do fun things with [imagine, getting $1mil a year knowing that you have $189million out there that you can't touch] - what happens is that the remaining 99% end up borrowing against their future payouts - that's a third person in your sheets [this one has syphilis] .. so ... net net .. pound for pound .. dollar for dollar ... TAKE THE CASH PAYOUT - take a million and chop it up and invest where there's a promised 4% growth ...

                        just my two cents .. can you tell i don't trust the government No No

                        when i win - solo, my lawyer will be instructed to say "a group of 52 retired navy seals have won" -- you know, to get the haters off my butt .. Sulk Off

                          nickey t's avatar - necros
                          new york
                          United States
                          Member #108522
                          March 26, 2011
                          28 Posts
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                          Posted: April 6, 2011, 12:42 am - IP Logged

                          I run an office pool of 13 and I work in a state government office in my state capital city!  If it worked for the MegaMillions, maybe it will work for us!  I've been running this pool for several years and it's about time we won.

                          please tell us that you have a SIGNED copy of all the members that are included .. and have sorted out who the regular members are and those that won't pay but will get paid?

                          that'll be so sad to have a lotterypost winner - win but end up in court convincing the judge that there indeed are only 13 and not 18 like the other five [they'll pop up] are sure to contend

                          Group Hug

                          when i win - solo, my lawyer will be instructed to say "a group of 52 retired navy seals have won" -- you know, to get the haters off my butt .. Sulk Off

                            podder1's avatar - Lottery-012.jpg
                            New Member
                            Cleveland Heights,Ohio
                            United States
                            Member #105942
                            February 9, 2011
                            17 Posts
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                            Posted: April 6, 2011, 10:45 am - IP Logged

                            you mean there is no stopping me now i have  the winning ticket, been waiting for a long time, and mind you i do feel lucky

                             

                            good luck to my LP's

                              Time Traveler's avatar - a21e
                              New Member
                              Niedersachsen
                              Germany
                              Member #108910
                              April 2, 2011
                              8 Posts
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                              Posted: April 6, 2011, 11:05 am - IP Logged

                              Guten Tag, Time Traveler, wie geht es Ihnen?

                              Es könnte besser gehen - darum spiele ich ja auch Lotto wie zB. Powerball - aber man sollte ja nicht meckern. Viel Glück!