Mega Millions Jackpot Reset?

Reply #22

danisiri — Fri, 27 May 2005 06:34:26 GMT

I agree partly in that a jackpot too large really does not do a larger number of players any good. But, I would rather that I win (or another fine member or two from this forum) and be a good steward with the money rather than for someone win who cannot handle the money and squanders it flippantly and become another lottery horror story.

Reply #21

JAG331 — Thu, 26 May 2005 17:08:29 GMT

These are my jackpot predictions through the matrix change:5/27: $80m5/31: $93m6/3: $112m6/7: $132m6/10: $158m6/14: $185m6/17: $230m6/21: $300m6/24: First drawing with Cali and the new matrix. Without California, I think this jackpot could be $400 million....but all the hype of the first CA drawing could push it to $450-480m.Of course who expects Mega Millions to rollover another eight times

Reply #20

Rip Snorter — Thu, 26 May 2005 16:23:35 GMT

Good luck to you, then. If it's costing $400+M to get out of CA these days there's going to be a lot of competition for that Jackpot.I have some difficulties seeing any virtue to jackpots that size for most normal circumstances, but there are exceptions to everything. Jack

Reply #19

danisiri — Thu, 26 May 2005 13:12:51 GMT

True. It has never happened before. But there is always the first time

Reply #18

JAG331 — Thu, 26 May 2005 06:17:51 GMT

The $480 million was my best guess. I don't think anyone really knows because it's never happened before.

Reply #17

danisiri — Thu, 26 May 2005 06:15:31 GMT

I posted the original question, because I live in California and am hoping to win the jackpot on day one! True this state is not in the best shape financially, socially, governmentally, etc., but most of my family and friends are down here so I stick around. Though of course, if I won the MM jackpot on day one, I may consider moving out of state, perhaps moving some of my family with me...if I happen to win the rolled-over $480 million MM jackpot that was estimated early in this thread! It wo... [ More ]

Reply #16

Rip Snorter — Thu, 26 May 2005 02:28:23 GMT

Yeah, but you have to consider the consolation prize for everyone else of not having to be in California. Some blessings just can't be counted in dollars.Ahem.Jack

Reply #15

Tx_Mega_Player — Thu, 26 May 2005 02:18:26 GMT

My initial thought was that it doesn't seem fair to the match 5 winner that wins when the jackpot rolls, but after thinking it over, I guess there really isn't anything particularly unfair about this process.

Reply #14

RJOh — Thu, 26 May 2005 01:21:32 GMT

This is the explanation on the New Mexico WebsiteMatch 5 Bonus PrizeWhen the Grand Prize reaches a new high annuitized amount through a procedure as determined by the Multi-State Lottery Group (MUSL), the maximum amount to be allocated to the Grand Prize pool from the Grand Prize percentage shall be the previous high amount plus $25 million (annuitized) or as otherwise set by MUSL. Any amount of the Grand Prize percentage, which exceeds the $25 million (annuitized) increase, shall be added to th... [ More ]

Reply #13

RJOh — Thu, 26 May 2005 01:02:20 GMT

When the jackpot is won, the bonus pool money will be divided among players who win Powerball's second prize by matching the first five numbers but not the Powerball. I take that to mean that the bonus pool money continues to grow until the jackpot is won and then is divided among the second prize winners of that same drawing.RJOh

Reply #12

Tx_Mega_Player — Thu, 26 May 2005 00:41:02 GMT

When the jackpot is won, the bonus pool money will be divided among players who win Powerball's second prize by matching the first five numbers but not the Powerball. What happens to the bonus pool if the jackpot isn't won? In other words, what if it continues to roll several more times

Reply #11

Tx_Mega_Player — Thu, 26 May 2005 00:34:26 GMT

If I'm not the winner, it doesn't matter to me if the winner is from CA and it's their 1st time participating. I'd be creating bad karma for myself if I were to hope that the winner isn't from CA. And besides, the residents of CA will have plenty of opportunities to lose just as much money as the rest of us...

Reply #10

RJOh — Thu, 26 May 2005 00:06:50 GMT

I play PowerBall in Indiana and this how they explain it on their website. Match 5 Bonus PrizesAt no additional cost, Powerball offers a Match 5 Bonus Prize feature designed to share the wealth when the jackpot reaches a new record level. The Hoosier Lottery will announce when the new bonus feature becomes effective, but watch for it whenever Powerball is estimated to reach a jackpot level that is more than $25 million over the previous record. At these new levels, the jackpot will be increased... [ More ]

Reply #9

rabbitfoot — Wed, 25 May 2005 21:47:12 GMT

You have this well thought out. However, I'm with Todd. I would hate to see even $65-million or less end up in CA on their first contributions to the game.

Reply #8

JAG331 — Wed, 25 May 2005 18:43:09 GMT

For the jackpot to not get hit before California's inception, it would be around $480 million for the June 24th drawing. Of course that is unlikely, and if Mega Millions gets hit on any of its last 8 draws, it will not climb above $65 million for California's first draw.

Reply #7

CASH Only — Wed, 25 May 2005 17:14:31 GMT

The initial Mega Millions jackpot was originally set at $25 million, but was raised to $27 million due to sales from newcomers NY and OH.

Reply #6

Todd — Wed, 25 May 2005 06:16:34 GMT

True, and USA Mega has the cash option at $49 million.

Reply #5

JimmySand9 — Wed, 25 May 2005 05:31:58 GMT

$80,000,000 for Friday.

Reply #4

ryanm — Wed, 25 May 2005 04:42:46 GMT

That's the way the balls bounce.

Reply #3

Todd — Wed, 25 May 2005 03:00:33 GMT

Can you imagine if someone from California were to win that jackpot? Californians would not have contributed much to it, but all the money would flow into their state.

Reply #2

RJOh — Wed, 25 May 2005 02:57:47 GMT

When MegaMillions started on 05/17/02, the first jackpot was $50M which included the last BigGame jackpot of $42M. In the past if the jackpot under the old format was not won then it was rolled over into the new format. The same thing will happen this time.RJOh

Reply #1

orangeman — Wed, 25 May 2005 02:09:21 GMT

Don't see how they could benefit from doing that. Just gives them a head start on breaking the $200 million mark and selling more tickets.Orangeman

Mega Millions Jackpot Reset?

danisiri — Wed, 25 May 2005 01:07:55 GMT

Does anyone know if the MegaMillions jackpot will reset back to the starting amount on June 24th if no one wins the jackpot by then? Just a curiosity question.