Mega Millions paltry increase ($12M -> $14M)

Reply #4

Coin Toss — Fri, 26 Aug 2011 22:52:38 GMT

bytheshore,

Thanks for remembering it.

Maybe since both MM and PB are now available in states where before people could only play one or the other most people are going for the higher jackpot.

Maybe in some kind of weirdo marketing experiment that's exactl what the MUSL wants us to do

Reply #3

ressuccess — Fri, 26 Aug 2011 16:28:05 GMT

This is the smallest jackpot raise for the first time since only 12 states participated in Mega Millions.

Reply #2

RJOh — Fri, 26 Aug 2011 14:03:59 GMT

What really matters is the amount its cash value increases since the jackpot is dependent on how much interest the cash value can earn in a 26 years annuity.

Reply #1

Justwinbaby — Wed, 24 Aug 2011 16:24:35 GMT

Technically, it is about the same as an increase, say, to $16 million. With a $10 million cash value, Mega Millions is currently paying out at 71% of the annuitized value. Usually, that number is somewhere around 60-62%. Even at $16 million, with a cash value of $10 million, that would be slightly higher than 62% cash-value payout. If the Jackpot increased to $16 million (as opposed to $14 million) and maintained the same % rate of over 71% cash-value payout, the cash value would be $11.4 + mill... [ More ]

Mega Millions paltry increase ($12M -> $14M)

bytheshore — Wed, 24 Aug 2011 16:17:48 GMT

Coin Toss, I would've revived your old thread, but it was closed. You were surprised it only increased to $15M. Now it's only $14M.

Last time there was an increase this small was July 4, 2006.

So, what, I guess ($12 - 13M) is next