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$344 MILLION: Mega Millions lottery jackpot skyrockets

Topic closed. 102 replies. Last post 3 years ago by rdgrnr.

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Texas
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November 5, 2009
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Posted: December 7, 2013, 4:38 pm - IP Logged

I agree, too many numbers to choose from.  Players may have become disinterested.

    TheGameGrl's avatar - character catafly.jpg
    A long and winding road
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    Posted: December 7, 2013, 4:39 pm - IP Logged

    I've got odds that even if someone wins, the check wouldn't be cut til next year. 

    Personally after seeing the odds and the amount of low end winners in my state (PA), I'll stick to the one dollar play . It only takes a dollar to win the jackpot and the lower prizes just don't have enough incentive.

    I guestimate it to hit when its around the 600 million marker. (between two to three states will hit it)

    Thats my story and I'm sticking to it.

    ~~Is it true, Is it kind,Is it necessary. ~~~

     Thanks be to the giving numbers: 1621,912,119 02014

      Win$500Quick's avatar - Lottery-050.jpg
      Florida
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      Posted: December 7, 2013, 4:53 pm - IP Logged

      I've got odds that even if someone wins, the check wouldn't be cut til next year. 

      Personally after seeing the odds and the amount of low end winners in my state (PA), I'll stick to the one dollar play . It only takes a dollar to win the jackpot and the lower prizes just don't have enough incentive.

      I guestimate it to hit when its around the 600 million marker. (between two to three states will hit it)

      Thats my story and I'm sticking to it.

      I Agree! I am boycotting by spending $1 per draw. With these astronomical odds I rather spend my money on Florida Lottery Games such as Fantasy 5, Mega Money and Lotto which have better odds.

      Guess Who's Back?

        Win$500Quick's avatar - Lottery-050.jpg
        Florida
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        Posted: December 7, 2013, 4:56 pm - IP Logged

        The reason being that the majority of those people are simply playing for the jackpot and not the lowerprices. They want two chances at the jackpot insgead of one chance at it for the same price. For a second prize of 2 to 5 millions most people prefer to play the state lottery which has way better odds at winning those amounts. Hope that helped.

        I Agree!

        Guess Who's Back?

          Teddi's avatar - Lottery-008.jpg

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          Posted: December 7, 2013, 4:56 pm - IP Logged

          You also have to consider interest rates are near all time lows and nearly any economist or investor knows that low rates will not be here forever. The headline jackpot assumes investing risk-free at the current rate level. Rates are expected to rise over the next few years. Taking annuity right now is not prudent (including, as you said, current tax levels and seemingly the only way we will solve our deficits will include some raising of taxes)

          Like I said, I'm not a fan of annuities. I think that generally they are a rip off. Espcially since they are weighted for you to get more in the last few years than on the front end. But let's  just say the JP reaches a point where you can actually take home $30M per year, and the CV is somewhere around 50%, those 2 factors would give me pause.


          Simply something to consider since my usual way of thinking is never to take the annuity.

            savagegoose's avatar - ProfilePho
            adelaide sa
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            Posted: December 7, 2013, 5:00 pm - IP Logged

            Like I said, I'm not a fan of annuities. I think that generally they are a rip off. Espcially since they are weighted for you to get more in the last few years than on the front end. But let's  just say the JP reaches a point where you can actually take home $30M per year, and the CV is somewhere around 50%, those 2 factors would give me pause.


            Simply something to consider since my usual way of thinking is never to take the annuity.

            and the fact that $20 mill a year would be like wining the lotto every year anyhow. if you managed to save say %10 l a year of that and invest it, after the 30 years, yu would prob still be taking in 20 mill for ever.

            2014 = -1016; 2015= -1409; 2016 JAN = -106; FEB= -81; MAR= -131; APR= - 87: MAY= -91; JUN= -39; JUL=-134; AUG= -124; SEP = -123; OCT= -84  NOV=- 73 TOT= -3498

            keno historic = -2291 ; 2015= -603; 2016= JAN=-32, FEB= +12 , MAR= -86, APR = -77. MAY= -48, JUN= -29, JUL=-71; AUG = -52; SEPT= -43; OCT = +56 NOV = -33 TOT= -3297

              DDOH937's avatar - Lottery-062.jpg

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              Posted: December 7, 2013, 5:04 pm - IP Logged

              and the fact that $20 mill a year would be like wining the lotto every year anyhow. if you managed to save say %10 l a year of that and invest it, after the 30 years, yu would prob still be taking in 20 mill for ever.

              My point EXACTLY goose man. One would basically be winning the pot EVERY YEAR!!!!  Smash

              "It's good to have money and the things that money can buy, but it's good, too, to check up once in a while and make sure that you haven't lost the things that money can't buy." - George Lorimer


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                Posted: December 7, 2013, 6:20 pm - IP Logged

                I see four cheats got 5+0 on this one.

                  BBLL's avatar - audi r8-wallpaper-bla
                  Chicago
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                  Posted: December 7, 2013, 7:53 pm - IP Logged

                  Christmas jackpot Big Grin Santa

                    rdgrnr's avatar - walt
                    Way back up in them dadgum hills, son!
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                    Posted: December 7, 2013, 8:16 pm - IP Logged

                    I see four cheats got 5+0 on this one.

                    Well, I hope you notified the authorities.

                    They probably had cheat sheets.

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                      NY
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                      Posted: December 7, 2013, 9:06 pm - IP Logged

                      Looks like now the jackpot would have to be near a billion for the cash option to have an attempt to take the top spot

                      I think the record cash value was fairly close to $475 million. Based on that, the current annuity value will need to reach about $888 million to tie the record.

                      656 = 888.  There's some lottery math for you. If this run gets within 25% of setting a new record lottery officials will be hoarse from screaming about the new record they set.

                        golfer1960's avatar - Lottery-003.jpg
                        Eatontown, NJ
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                        Posted: December 7, 2013, 10:56 pm - IP Logged

                        If it gets to $900 million plus, would you opt for annuity or cash payout????

                        Wow, that's such a ridiculous amount of money. I think I'd opt for the annunity!! I think that would be around $30M per year for 30-yrs.


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                          Posted: December 7, 2013, 11:00 pm - IP Logged

                          Not cheat sheets, cheat codes.

                            LottoMetro's avatar - Lottery-024.jpg
                            Happyland
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                            Posted: December 7, 2013, 11:02 pm - IP Logged

                            Wow, that's such a ridiculous amount of money. I think I'd opt for the annunity!! I think that would be around $30M per year for 30-yrs.

                            With a $900M annuity, you wouldn't see the first gross $30M+ payment until 2030 (technically, 2031). Of course the average payment over the course of the annuity would be $30M, but the first gross payment would be less than $14M.

                            The annuity would have to be nearly $2 billion to see a gross $30M payment upfront. Crazy

                            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

                              golfer1960's avatar - Lottery-003.jpg
                              Eatontown, NJ
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                              Posted: December 7, 2013, 11:11 pm - IP Logged

                              With a $900M annuity, you wouldn't see the first gross $30M+ payment until 2030 (technically, 2031). Of course the average payment over the course of the annuity would be $30M, but the first gross payment would be less than $14M.

                              The annuity would have to be nearly $2 billion to see a gross $30M payment upfront. Crazy

                              Oh okay. Still lots of money eh, Metro? Would you take the cash or annuity?