Game odds and annuities

Comment #5

lakerben — Wed, 30 Sep 2020 02:10:42 GMT

I'll take whatever they give me!

Comment #4

Stack47 — Wed, 30 Sep 2020 00:56:38 GMT

Some states created new games and/or made existing games harder to win to compete with MM and PB. Can't remember the last time I played either game an won't until I believe it's a "must win" or the lower the ticket price or the odds.

Comment #3

Think — Tue, 29 Sep 2020 10:45:23 GMT

<br />MM and PowerBall are bad games. The multi state games ruined the games in each state and now the mult-state games are ruined.<br /><br />The Michigan 6/xx game started at 6/40 and went to 6/51 then back to 6/49 and has been 6/47 for 15 years now. PB and MM need to roll back their odds too.

Comment #2

Stack47 — Mon, 28 Sep 2020 17:41:33 GMT

<br />Many other much better investments if you take the cash.

Comment #1

Charloot — Mon, 28 Sep 2020 02:08:50 GMT

Ok, being at retirement age, my financial advisor said take the lump sum. Annuity is a sucker bet, period.

Original Blog Entry: Game odds and annuities

Stack47 — Fri, 25 Sep 2020 20:51:48 GMT

Currently both huge jackpot games, PB and MM start their annuities (30 pre-tax payments over 29 years) at $20 million. Some players are complaining because both games reduced the start-up from $40 million because of lower ticket sales when sales are about the same. The MUSL probably wanted to lower both the starting jackpot amounts and the minimum increase for a couple of years and used the pandemic as a reason most players could understand.

Some players believe ticket sales began dropping because winning jackpot drawings were few and far between and most were won by a single ticket. Others say it s because of the $2 ticket and the around 300 million to 1 chance of winning a jackpot. And because of the odds, it takes $150 million in sales to get a 25% chance of a jackpot being won. One ticket out of each 11 million tickets sold in each state should match 5 numbers, but most states don t have enough in sales to expect a 4 + 1 winning ticket.

Because of the odds, I won t even play until I believe there is a reasonable chance the jackpot will be won and will spend the extra buck to get PowerPlay.

Not very many financial advisers suggest getting the annuity or even purchasing one with cash winnings. And probably why most jackpot winners take the cash. It s now $2 for a dream and hopefully players understand a $100 million advertised jackpot translates into about $30 million in cash after the tax smoke clears.

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