By Kate Northrop
MARTINSVILLE, N.J. — Mega Millions and Powerball are the two biggest U.S. multi-state lottery games that offer players across the country the largest prizes imaginable, routinely holding the record for the largest jackpots in the world.
But how do these jackpots achieve such historically high figures? What causes the jackpot to grow faster for some drawings? Why is the cash value different than the annuity, and why is it always a different percentage of the annuity? Perhaps you might have even noticed that many times the jackpot changes right after the drawing takes place.
These are all questions we've heard from players time and time again. Our latest video aims to clear the air and explain just how these numbers are calculated with every draw.
There are several moving parts that determine the size of the advertised prize as well as how much a player gets when they win the lottery. If you've ever wondered where these absurdly high amounts of cash seem to magically appear from, this is the video for you.
For example, many players often think of the cash option as roughly half the annuity prize, but did you know that the annuity prize is actually based on the cash option itself?
In our latest video, we answer these questions and break down how lotteries quickly determine the next jackpot prize immediately following a drawing. To watch, visit Lottery Post's official YouTube channel, and feel free to leave a comment under the video about what other topics you think we should cover next.