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$291 MILLION: Mega Millions lottery jackpot enters top 25 list

Topic closed. 49 replies. Last post 3 years ago by KY Floyd.

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stunna6036's avatar - Lottery-033.jpg
chicago,il
United States
Member #141327
April 11, 2013
46 Posts
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Posted: December 6, 2013, 9:04 am - IP Logged

Good luck everyone. I'm in it to win it. Party

    Saylorgirl's avatar - Lottery-065.jpg
    Indiana
    United States
    Member #129225
    June 13, 2012
    546 Posts
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    Posted: December 6, 2013, 2:57 pm - IP Logged

    I do believe that the jackpot just took at jump to $297 million.  Cash Value is now at $158 million!

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      United States
      Member #24339
      October 21, 2005
      23 Posts
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      Posted: December 6, 2013, 3:17 pm - IP Logged

      I do believe that the jackpot just took at jump to $297 million.  Cash Value is now at $158 million!

      6 million jump in the annuity with only an 800 thousand jump in the cash value?  The after-tax value for the cash jackpot falls to 32.1% from 32.7% of the advertised annuity prize.

        LottoMetro's avatar - Lottery-024.jpg
        Happyland
        United States
        Member #146344
        September 1, 2013
        1129 Posts
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        Posted: December 6, 2013, 3:36 pm - IP Logged

        6 million jump in the annuity with only an 800 thousand jump in the cash value?  The after-tax value for the cash jackpot falls to 32.1% from 32.7% of the advertised annuity prize.

        This is because the annuity factor increased (1.85 to 1.869), which decreases the cash value required to fund the annuity jackpot. Prior cash support was only $155.6 million, not the $157.2 million advertised, which is why the cash value increase seems very small.

        If the chances of winning the jackpot are so slim, why play when the jackpot is so small? Your chances never change, but the potential payoff does.
        If a crystal ball showed you the future of the rest of your life, and in that future you will never win a jackpot, would you still play?

        2016: -48.28% (13 tickets) ||
        P&L % = Total Win($)/Total Wager($) - 1

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          NY
          United States
          Member #23835
          October 16, 2005
          3474 Posts
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          Posted: December 6, 2013, 6:27 pm - IP Logged

          6 million jump in the annuity with only an 800 thousand jump in the cash value?  The after-tax value for the cash jackpot falls to 32.1% from 32.7% of the advertised annuity prize.

          The bump to $297 million is just a parlor trick, enabled by a change in the interest rate that would be paid  on the annuity if a winner actually opted for the annuity. If the interest rates hadn't chnaged they wouldn't have announced such a small change until offering the final tally at drawing time. The change in interest rates just gave them an excuse to inflate the fake jackpot a bit more.