Why the difference in payout between Powerball and Megamillions

Reply #5

TheRightPrice — Wed, 18 Jan 2012 21:36:40 GMT

Yes MM is better IMO

Reply #4

CDanaT — Wed, 18 Jan 2012 21:18:01 GMT

Thanks for the info on the different number of payments. I had forgotten about that. Still sticks in my craw that both large lotteries can have the same large numbers but the cash payout for Mega is at 74% of the Jackpot and the Powerball is at 64

Reply #3

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Reply #2

Coin Toss — Mon, 16 Jan 2012 15:17:22 GMT

CDanaT,

From the Powerball website FAQ page:

WHY IS THERE A DIFFERENCE BETWEEN THE CASH PAYOUTS IN THE POWERBALL AND MEGA MILLIONS GAMES?

A fixed percentage of every Mega Millions and Powerball ticket sold goes into its CASH jackpot. The cash jackpot is all the money that the lottery has on hand from the sale of tickets in the game. If a player chooses the cash option, then the lottery will pay the entire cash amount to the winner (less income tax withholding amounts required by federal... [ More ]

Reply #1

HiFi — Mon, 16 Jan 2012 15:02:42 GMT

it costs twice as much because now its twice as much fun to play.

Why the difference in payout between Powerball and Megamillions

CDanaT — Mon, 16 Jan 2012 14:05:08 GMT

I am now even more perplexed at the difference between Powerball and Megamillions. The new claim of larger payouts certainly lacks some common sense reasoning. I am sure we have noticed the Cash payout difference between Powerball and MM is 10%. I wonder why ? administrative costs ? It now costs twice as much to play.