$500 Million Jackpot!

Reply #59

sirbrad — Sun, 04 Dec 2005 03:46:21 GMT

What do you mean by hit with an annuity ticket? I know some lottos in the past used to make you select cash or annuity first, but here in PA you decide after you win what you will take.

Reply #58

lottowman236 — Sun, 04 Dec 2005 03:18:10 GMT

Im for a 500M Lotto as well Brad and the gang.But lets not forget the computer puts the fix inand if you choose annual payments at any amounts over60m-90M, most are saying they make sure those annual ticket entries will almost never hit.So I would not pick annual payments as my choice when an Ultra lotto like Mega or Powerball jackpot is over 100-300M. I've checked and every big lotto above 70-100M,no one has ever hit with an annual payment ticket. That to me means there is a computer fix in t... [ More ]

Reply #57

sirbrad — Sun, 04 Dec 2005 02:45:56 GMT

It also depends on the jackpot size. When you are getting a couple hundred thousand from an annuity on average, will you spend it all on luxuries, or will you skimp for the entire year until your much sought after next check comes in a year? Will that first payment be enough to set everyone up in your family with a house, a car, and other essentials? Or will you only be left with about 10,000 until the next year? You also would not be able to live off the interest of such a low amount, and you w... [ More ]

Reply #56

justxploring — Sun, 04 Dec 2005 01:19:35 GMT

Most people on this board say cash is the only way, but in many ways I agree with Iesha. Although I would try to make my own decisions, my past experience with financial planners has been very negative, so it would be hard for me to choose the right person to invest my money. Although logic would tell me not to take the annuity, sometimes I wonder if knowing you'll have that big check every year gives people peace of mind. Sure you can definitely make more with the cash option as you invest in... [ More ]

Reply #55

ryanm — Sat, 03 Dec 2005 23:22:16 GMT

The only way you'd get far more interest from taking the cash option is if you invested in risky investments. If you take the cash value option, you have less to initially invest with, because the government takes away part of it for taxes. If you choose annual payments, the government does not take away part of the initial investment, so the whole cash value is invested, not 75% of it less any state taxes. However, cash is still better simply because of control.

Reply #54

sirbrad — Sat, 03 Dec 2005 21:16:22 GMT

Age is also a factor. I doubt anyone over 40 or 50 is going to want an annuity, and get their largest checks at age 70-80. They would not be able to enjoy the money at that age like they would have when they were much younger. Smaller annuities encourage thrifty spending, and always waiting for the next check. When you could actually get far more in interest with the cash option for larger jackpots than even the annuity pays you a year. I would definitely take cash for any large jackpot win.

Reply #53

ryanm — Sat, 03 Dec 2005 18:10:29 GMT

Iesha, the annuity payments only increase if you won the Powerball jackpot, which is not likely to get to $500 million due to its share the wealth feature. Mega Millions still pays only an equal amount each year, without adjusting for inflation.

Reply #52

Iesha Kelly — Sat, 03 Dec 2005 07:58:26 GMT

maybe, but with $500 million you also have more wiggle room to make mistakes, and learn how to make your new money grow for you, with a new check coming in every year. there are some amounts that are just too big to contemplate. $500 million (which is what, $250 - 270 million if cash?) is too big to contemplate for average joe and joanna, particularly if joe and joanna are a lottery jackpot away from becoming a jack whittaker or virginia metcalf instead of that brad guy who already had a lot o... [ More ]

Reply #51

Chewie — Fri, 11 Nov 2005 14:37:17 GMT

Actually $262 million is still $262 million. It is just not $262 million today. Its like an Apple tree. You can keep picking at it, year after year. Unless of course some beetle comes along and infects the tree. Then the apple supply dwindles. Now, if you sell the tree (get cash), you don't get as many apples to count, but you also don't have to worry about that pesky beetle. However, if you spend the lump some on an Orange tree, and there is a hurricane, you might loose all your oranges.W... [ More ]

Reply #50

fxsterling — Fri, 11 Nov 2005 14:22:08 GMT

ya the $ cash will be thier 20 years from now i don't think so they put 4oz of candy in a box that could fit 10 oz kind of like $262 million thats only $100 million

Reply #49

BaristaExpress — Fri, 11 Nov 2005 13:42:52 GMT

$500 million is definately an Annual Payments win. I encourage you all to take the same. =)I strongly disagree with that statement, but that's my opinion! Cash is the Only Way to Fly! Besides you'll have more control over the Cash than an annuity

Reply #48

Annual Payments — Wed, 09 Nov 2005 04:46:13 GMT

$500 million is definately an Annual Payments win. I encourage you all to take the same.

Reply #47

ryanm — Tue, 08 Nov 2005 21:02:00 GMT

MM will probably get a run once it starts getting hit at low levels as well, or maybe, MM could be on a run right now.

Reply #46

ryanm — Tue, 08 Nov 2005 20:59:38 GMT

MM probably won't even consider such a rule until it at least has a $500 million jackpot, which MM boasts it can have one day (but has not happened yet). Powerball does not make such outrageous boasts.

Reply #45

BaristaExpress — Tue, 08 Nov 2005 19:37:17 GMT

Why limit the roll over for MM for? I think it was wrong of the MUSL to do it to PB in the first place! I have always thought it's the winner takes all type of games that have the most players playing that particular game! I guess that does hold true in the case of which of the two games (MM or PB) has the fastest growing roll over jackpots and that title goes to MM, hands down! Yes, I know MM has a larger player base, but that also says that more of the players like the idea of the winner takes... [ More ]

Reply #44

JAG331 — Tue, 08 Nov 2005 17:02:37 GMT

I like having one game that does the Bonus Pool and one that doesn't....at least some variety.

Reply #43

CASH Only — Tue, 08 Nov 2005 16:53:26 GMT

Mega Millions does NOT limit jackpot rollovers like MUSL does for Powerball. Maybe MM should do it too.

Reply #42

fiona$ — Tue, 08 Nov 2005 11:53:11 GMT

for the info on PB cap go to http://www.powerball.com/powerball/pb_prizes.aspsee match 5 bonus prize

Reply #41

sirbrad — Tue, 08 Nov 2005 07:03:48 GMT

I am not sure if it listed anywhere, because it rarely ever happens. But I did see it go into effect, and announced when it did. Why do you think those 49 players won $853,000 instead of only $200,000? They got a share of the increment raise that was passed down from the cap.

Reply #40

BaristaExpress — Tue, 08 Nov 2005 04:31:50 GMT

Reply #39

dvdiva — Tue, 08 Nov 2005 04:23:57 GMT

The limit is it keeps getting hit below 300 million. Any game could go for a run so far MM hasn't. Even normally small games like the Canada 6/49 or even a game that always gets hit at low levels like Powerball can have a large run. I think it's a matter of time for MM to go on a run. So far only the game before MM went on a run not MM.

Reply #38

BaristaExpress — Tue, 08 Nov 2005 03:52:55 GMT

Chewie, no one's limiting MM! Take a close look at what you stated yourself. It has a larger player base more players! With that said, it means someone is more likely to hit it sooner than that of the smaller player base of PB! And the next note that should be looked at is, a fellow LP member said it would only go to about 430 million at best! How does that come-out to MM going lower to PB's 340 million

Reply #37

Chewie — Tue, 08 Nov 2005 03:05:01 GMT

Why are you limiting MM - it has the larger player base; more players, more dollars. If PB can hit $340M with a smaller base, the MM should reach higher, not lower.

Reply #36

dvdiva — Tue, 08 Nov 2005 01:32:51 GMT

Powerball's next cap would be 340 + 25 or 365 million. MM has no cap but it might never get to 500. My guess is the highest it could get would be 430 or so. Anything above 300 would be nice since that has never happened with MM in spite of the increadible odds.

Reply #35

fxsterling — Mon, 07 Nov 2005 16:31:53 GMT

go to old topics read on i don't think mm has a roll limit power ball does somewhere over 350 million 2nd prizes go up pb pot grows 25 million i hope to see a 150 million roll soon in mm

Reply #34

mylollipop — Mon, 07 Nov 2005 16:13:50 GMT

So help me here. Each of the 2 big jackpots have a limit to the rollover amounts once they reach the record amount, right? In other words, it will not be a cap on the jackpot amount, but a cap on the increments that the jackpot can increase by. I do not find this information on the websites of any state offering PB or MM. Maybe I am not looking at the right link. If someone has it, please send it to me.

Reply #33

Chewie — Mon, 07 Nov 2005 16:11:55 GMT

You're sick! Mud wrestling would be better.

Reply #32

fxsterling — Mon, 07 Nov 2005 16:03:00 GMT

pay each of them 25 k and watch them box

Reply #31

Chewie — Mon, 07 Nov 2005 15:14:48 GMT

Makes sense - Coleman about half the price as Rodman. I would take Rodman to the airport for lunch, then enjoy the metal detectors going off.

Reply #30

fxsterling — Mon, 07 Nov 2005 15:00:25 GMT

you have 225 million you can buy any one a web sight tells how much a day with celebs cost how cool would it be to have lunch with gary coleman ($2000 bucks) rodman (nba) was only about 5 k i would have some fun

Reply #29

Chewie — Sun, 06 Nov 2005 20:03:53 GMT

For $5000, he will give you the unique opportunity to try for Supreme Court position.

Reply #28

fxsterling — Sun, 06 Nov 2005 19:40:39 GMT

i think you can $5000 .00 you can eat with bush

Reply #27

sirbrad — Sun, 06 Nov 2005 19:30:13 GMT

Screw Martha anyway, I don't hang around with ex-cons.

Reply #26

Chewie — Sun, 06 Nov 2005 17:59:29 GMT

Remember, even if it should make the $500M mark, and you won, Martha still won't invite you over for one of her dinner parties. You wouldn't be rich enough. I, on the other hand, would invite the winner over for both lunch and dinner. PB J would go for $1,000.00 each - open face (both meals).

Reply #25

ryanm — Sun, 06 Nov 2005 17:23:27 GMT

Even if MUSL inflated their annuity even greater (say, by extending the payments to 40 years), it would still take them quite a while to get a $500 million jackpot, because of their match 5 bonus pool. However, if MM followed MUSL and adjusted their annuity for inflation as well, they would easily break $500 million.

Reply #24

Jake649 — Sun, 06 Nov 2005 17:13:24 GMT

Increased sales to not prevent a $500 million. On the contrary, high sales are the requirement for a large jackpot.Two factors affect the probability of a $500 jackpot. One, long odds and Mega Millions has that. Second, large number of sales for a given draw and Mega Millions also has that potential given its large population base of buyers.

Reply #23

dvdiva — Sun, 06 Nov 2005 16:13:45 GMT

All it would take is some more jackpot annuity inflation by MUSL to get to 500. Of course the cash amount will be really small and odds are you won't be around for the final check but who cares. I doubt MM will ever get there but it would be nice if MM could break 300 million which it has never done.

Reply #22

sirbrad — Sun, 06 Nov 2005 14:41:01 GMT

I think one day it will get to 500 million. If not, the lottery officials will just keep increasing the odds if there are too many winners. Soon we will have 100 balls...

Reply #21

Chewie — Sun, 06 Nov 2005 14:09:28 GMT

$500M will never happen. The need for greed kicks in well before that. They have no idea of why they have a need for greed, but it drags them to the store and they must buy! Kinda of like women and baby clothes.

Reply #20

fxsterling — Sun, 06 Nov 2005 04:16:31 GMT

20 draws to get to 340 mm will be at 20 draws and 500 MILLION

Reply #19

ryanm — Tue, 11 Oct 2005 15:58:04 GMT

Yeah, I suppose the cap rule isn't that bad - once a new record is set, the old one is automatically uncapped.

Reply #18

JAG331 — Tue, 11 Oct 2005 15:29:39 GMT

Yes. There would more than likely be a winner at the $390 million level, which of course would become the new record, and no cap, no rolldown to 5+0, no nothing! All of this cap-talk could be busted.

Reply #17

Deadsantaclaus — Tue, 11 Oct 2005 15:22:48 GMT

I never looked at it that way. So, If the jackpot doesn't get hit at say $312 Million then the next pot doesn't get limited to say $337 Million it could climb to say $390 Million and if no one hits that one THEN the cap takes affect?Interesting, We might not see a $500 Million pot but I'd settle for a $400 million pot this year.......................

Reply #16

JAG331 — Tue, 11 Oct 2005 13:28:40 GMT

Powerball could set 4 new jackpot records within a year, reach $500 million, and never have the cap go into effect.

Reply #15

CASH Only — Fri, 07 Oct 2005 17:30:23 GMT

Mega Millions long before Powerball. Blame the PB match 5 bonus.

Reply #14

Just6ntlc — Thu, 06 Oct 2005 22:53:11 GMT

I think it is possible. My vote was for yes and for MM in the future.

Reply #13

ryanm — Thu, 06 Oct 2005 16:44:02 GMT

lol

Reply #12

Chewie — Thu, 06 Oct 2005 13:16:20 GMT

If every one has the same luck as I do, reaching $500M will not be a problem.

Reply #11

dvdiva — Thu, 06 Oct 2005 05:48:19 GMT

Well we will have to wait until it hits the 340 mark to really see. I'd like to see powerball get there but judging from the recent rollovers it's going to take a while.

Reply #10

ryanm — Wed, 05 Oct 2005 17:25:53 GMT

That's correct. The Powerball rollovers are not capped until the jackpot REACHES the new record.

Reply #9

JAG331 — Wed, 05 Oct 2005 15:48:52 GMT

Did we just say the same thing at the same time?!Haha, now that's twisted

Reply #8

twisted — Wed, 05 Oct 2005 15:46:55 GMT

I think you dont understand how the cap rule works. If I remember reading the rule correctly on the old FAQ at the Powerball website (cant find it now) it said that once the jackpot reaches a new record the NEXT rollover will be capped at $25 million.

Reply #7

JAG331 — Wed, 05 Oct 2005 15:46:32 GMT

What if the advertised jackpot doesn't break the $25m cap, but still passes the mark of JW? Let's say the jackpot reaches $330 million, then the cap would go into effect next time at $355m, right? I don't think it must be $339.9 million.

Reply #6

Bradly_60 — Wed, 05 Oct 2005 15:43:02 GMT

Records are fun to see but as long as it is worth playing then I will play. I usually start buying tickets around the $100 million mark and increase purchases until it hits. I don't mind 150-200 million jackpots.Brad

Reply #5

dvdiva — Wed, 05 Oct 2005 13:30:58 GMT

Sadly the cap is even lower than 350. The record for Powerball is owned by Jack at 314.9 million. So the highest it can get for this run is 339.9 million. It would take 4 record runs to break 400 million (the 4th one being just under 420). You are very right about not putting Powerball on the list.I have been waiting for any game to break 300 since 2002 so anyone using 500 million as their threshold is just not going to be buying lottery tickets.

Reply #4

Down — Wed, 05 Oct 2005 05:52:34 GMT

i think the odds of a $500 million jackpot are higher than winning the lottery because when the jackpot gets really high like $200-$300 million range you just know its going to get hit by someone, the lottery people said we would see a $500 million jackpot under the right conditions, they never guaranteed it, but i hope we see it one day

Reply #3

Bradly_60 — Wed, 05 Oct 2005 03:57:11 GMT

One other note...as an example Mega Millions would need to sell around 910,000,000 tickets to fund a jackpot of $500,000,000 with todays interest rates. That is a lot of tickets to sell in a single jackpot run. It will be nice to see someday.Brad

Reply #2

Bradly_60 — Wed, 05 Oct 2005 03:53:38 GMT

When you ask these types of questions I wonder why you even bother to put PowerBall on the list. When the jackpot reaches around $350 million they cap it at $25 million increases. This means after that point you will need 6 more drawings to reach the $500 million mark. Odds of that are really really slim. Mega Millions will take at most 3 drawings after the $350 mark to the $500 mark. This is possible especially with the sales patterns of lately. Time will tell but I believe it will happen... [ More ]

Reply #1

hsg2000 — Wed, 05 Oct 2005 03:25:27 GMT

why it should not

$500 Million Jackpot!

blackjack26241 — Wed, 05 Oct 2005 02:30:55 GMT

Will it ever happen