So does anyone know the cash pot in PB,MM

Reply #12

weshar75 — Thu, 01 Sep 2005 07:03:35 GMT

At the time Jack's cash option was just north of 170 million so now the jackpot will have to be around 350 million to equal his cash option. I do not know about the taxes though because he had a 111.7 million after the lottery took their chunk of change for taxes.

Reply #11

bks2 — Thu, 01 Sep 2005 05:53:24 GMT

It will take alot bigger jackpot to equal jack's 315 million he got, probably 365 million. Hopefully powerball will take that in account when they go to the maximum 25 million rollover.

Reply #10

dvdiva — Thu, 01 Sep 2005 05:40:16 GMT

Well any game that has a cash prize less than half of the jackpot is really worthless. It's more like Pepsi Billions where you don't really win the billion since they are hoping for inflation to cut down the value of the prize.

Reply #9

Todd — Wed, 31 Aug 2005 16:16:13 GMT

Some people are using the term scam waaaaayyy too loosely these days. Dropping the cash value below 50% might be a negative thing, but to put it in the same category as some ripoff artist scamming elderly people out of their money by calling it a scam is beyond wrong.As soon as people call Powerball a scam , that's when their comments lose credibility with me. Powerball is anything but a scam. It is a well-run, above-board game that players should be flocking to play. If you feel somethin... [ More ]

Reply #8

ryanm — Wed, 31 Aug 2005 15:41:20 GMT

This is why both games should get rid of the annuity option and just pay out jackpot prizes in cold hard cash only. Both games should have a guaranteed starting jackpot of $7.5 million cash, with minimum rollovers of, say, $1.5 - 2 million cash.

Reply #7

Todd — Wed, 31 Aug 2005 06:49:31 GMT

There are forumlas for figuring out the cash value and annuity values. They are not simple equations, but rather complex models based on interest rates, sales numbers, estimation of sales, etc. The FAQ pages at USA Mega gives some insight into it, but the entire model is not laid out in detail anywhere.

Reply #6

Todd — Wed, 31 Aug 2005 05:54:43 GMT

Just Check USA Mega. They show exact Cash and Annuity values for both, as well as detailed after-tax information for both games.

Reply #5

weshar75 — Wed, 31 Aug 2005 05:50:44 GMT

I checked the oregon lottery website for powerball information and it said that the cash option is worded approximately half the annuitized jackpot . So if you win on wednesday in oregon you will only get 22 million before tax cash.

Reply #4

bks2 — Wed, 31 Aug 2005 04:34:51 GMT

When it gets above 100 million it should be less than 50

Reply #3

dvdiva — Wed, 31 Aug 2005 04:17:41 GMT

With such a big difference I wonder if the cash prize for the new Powerball will fall below 50 percent. It would really tarnish the whole prize level reducing it to a scam if it's below 50% IMO.

Reply #2

RJOh — Tue, 30 Aug 2005 00:39:24 GMT

The cash value is the amount expected from ticket sales, the jackpot amount is that cash plus the expected returns if lottery invest the cash over the annuity period. When the interest rates change so will the percent of the jackpot to the cash value.RJOh

Reply #1

Just6ntlc — Tue, 30 Aug 2005 00:27:22 GMT

The reason PB's cash option is less because payments will increase from year to year just like CA SLP. In Mega Millions, if players take payments, they'll receive the same amount every year [less federal and state taxes].

So does anyone know the cash pot in PB,MM

dvdiva — Tue, 30 Aug 2005 00:22:23 GMT

Judging from www.usamega.com the cash prize is 61.2% of the advertised MM jackpot and only 50.7% for the PB jackpot. Is there a formula to determine what the cash amount is or is it anyone's guess