Powerball cash option

Reply #14

KY Floyd — Wed, 28 Jun 2006 21:19:41 GMT

I have no idea if any of the old information is easily available online. If you've got abit of patience you could find some of the info by looking in the usamega archives for news stories that report bot the cash and anuity value. The people who run the lottery certainly keep track of it, but I don't know how readily they'll hand it over. I suppose you could file a Freedom of Information request if you really wanted accurate data, but why would you need it? The current information is readily ava... [ More ]

Reply #13

guesser — Wed, 28 Jun 2006 20:18:38 GMT

'hard work' ??????????

I spend maybe 30 minutes twice a week doing this 'hard work', whereas I could be playing Solitaire or some other game.

I find it amusing that people won't play it until the pot gets BIG, that's like saying 'oh, you just tossed 15 mill in my lap, thanks but no thanks, it's not enough to make it worth my while, get back to me when you want to toss 150 mill in my lap, THEN I will take it'.

Reply #12

ryanm — Wed, 28 Jun 2006 00:35:21 GMT

Not being able to last on $12.6 million? How sad. Most people won't see that much money in their lifetimes.

Reply #11

Rip Snorter — Wed, 28 Jun 2006 00:02:20 GMT

Quote: Originally posted by KY Floyd on June 27, 2006 Quote: Originally posted by rundown99 on June 25, 2006 Have you noticed that the cash option on the advertised jackpot for Powerball has decreased. Right now the cash option for the $28 Million Powerball jackpot is only $12.6 Million !!! The cash option used to be at least 50% of what they advertised. What is going on? Somebody please explain this to me!!!

There is no cash option. The cash from ticket sales is, and always has been, wh... [ More ]

Reply #10

weshar75 — Tue, 27 Jun 2006 22:40:34 GMT

I sure would like the chance to choose between cash option and annuity. $12.6 million or $28 million over 30 years. We could all use to have a decision like this once in our lives.-weshar75

Reply #9

bellyache — Tue, 27 Jun 2006 17:03:07 GMT

People can't last on 12.6 million?!? I promise you that I could retire nicely on that amount.

Reply #8

spy153 — Tue, 27 Jun 2006 15:59:10 GMT

Now I understand why people dont even bother playing until the advertised pot gets huge. It just doesn't seem worth all the hard work for money that is not even going to last.

Reply #7

KY Floyd — Tue, 27 Jun 2006 15:48:28 GMT

There is no cash option. The cash from ticket sales is, and always has been, what determines the jackpot. The optional annuity is based on investing the cash, and since interest rates have been going up a given amount of cash will generate bigger annuity payments for any given schedule.

Reply #6

Rip Snorter — Mon, 26 Jun 2006 14:28:54 GMT

ATTENTION:

PB and MM employees:

The idea at the end of the above post was intended to be humorous.

Surely you don't believe a person who just won, say, $100 Million (annuit), $45 Million (actual before taxes), $22 Million (after taxes) would accept 100 million tickets for the next (now deflated draw)?

Here's why he might:

If he can get the amount you said he won down far enough there's a chance you'll have to actually pay him something.

Jack

Reply #5

Rip Snorter — Mon, 26 Jun 2006 14:10:52 GMT

Quote: Originally posted by Coin Toss on June 25, 2006 There was a thread here not too long ago about the PB cash option going to somewhere around 46%, guess it was pretty accurate -

12.6 / 28 = 45% exactly.

This is the kind of thing I was trying to get at with a thread I started about do the lottery commissions consider the players customers or chumps:

https://www.lotterypost.com/thread/134519.htm

If they were given free reign to get it on , no telling how much they'd lower th... [ More ]

Reply #4

ryanm — Sun, 25 Jun 2006 22:35:20 GMT

lol That could be coming soon since Mega Millions' jackpot keeps getting hit lately.

Reply #3

RJOh — Sun, 25 Jun 2006 19:28:02 GMT

I expect MegaMillions luck to change as soon as the participants in the MegaMillions challenge get their act together and start hitting some 5+0's.

Reply #2

ryanm — Sun, 25 Jun 2006 18:33:06 GMT

The cash option has been like this ever since PB went to 5/55 + 1/42, because they restructured the annuity so payments increase each year. Therefore, they can get a higher annuity than they could under the equal payments method from the same cash amount. The cash value has not decreased; the annuity has simply increased. However, it is also true that less than 30.28855% of sales is going to the cash jackpot, because the states can deduct up to 2% of sales for the cash reserve to pay the set

Reply #1

Coin Toss — Sun, 25 Jun 2006 18:21:08 GMT

There was a thread here not too long ago about the PB cash option going to somewhere around 46%, guess it was pretty accurate -

12.6 / 28 = 45% exactly.

This is the kind of thing I was trying to get at with a thread I started about do the lottery commissions consider the players customers or chumps:

https://www.lotterypost.com/thread/134519.htm

If they were given free reign to get it on , no telling how much they'd lower the cash option to.

Powerball cash option

rundown99 — Sun, 25 Jun 2006 17:36:23 GMT

Have you noticed that the cash option on the advertised jackpot for Powerball has decreased. Right now the cash option for the $28 Million Powerball jackpot is only $12.6 Million !!! The cash option used to be at least 50% of what they advertised. What is going on? Somebody please explain this to me