Looks like the cash jackpot for MM & PB is going backwards

Reply #7

THRIFTY — Mon, 18 Nov 2013 19:36:54 GMT

Lottery players will be spending more money in states games than Mega Millions and Powerball. You play against less people in state games with better odds to win.

Reply #6

LottoBoner — Mon, 18 Nov 2013 03:35:23 GMT

I agree. However I think its only a figure of speech.

Previously They would both grow slow and then at a certain point take off.

Then when PB increased price PB would grow decent and take off right away, while MM was growing like a snail.

Now with the increase Matrix in MM, it seems, BOTH

PB and MM are growing pretty much at the same rate, No race. As if they are both taking a slow leisureley saunter in the grass.

Reply #5

whiteballz — Sat, 09 Nov 2013 05:58:09 GMT

NJ and FL were winning every other drawing a few months ago.

Reply #4

SeattleJoe — Fri, 08 Nov 2013 17:18:48 GMT

Yes you are right on. But the biggest driver of the advertised jackpot is interest rates. The higher they go the larger the annuity is. In fact if interest rates were to double you'd see a 600million jackpot but only a 100million cash value before taxes. So at some point it would make more sense to take the annuity instead of cash if interests rates were much higher. In fact low interest rates from the FED have inflated cash values in the last decade relative to the annuity.

Reply #3

RJOh — Fri, 08 Nov 2013 00:55:19 GMT

In many states, the cash values of the local games are completing with the cash values of the multi-states games when they reset so it natural that fewer people are going to buy MM and PB tickets when the same money can be won with better odds. For example Ohio's Classic Lotto(6/49) has a jackpot of $50M/$25M cash with odds twelve or more times better than those of MM or PB.

Reply #2

pickone4me — Thu, 07 Nov 2013 17:45:31 GMT

Thanks for explaining all that.

Reply #1

Todd — Thu, 07 Nov 2013 15:38:18 GMT

The cash amount is the cash amount. It doesn't go backwards; it is the only thing that is constant and directly based on ticket sales.

What you are seeing is the annuity amount getting better, because of better interest rates and Mega Millions going to a 29-year (30 payment) annuity with a 5% annual increase.

So the cash amount just keeps increasing based on actual ticket sales, and the annuity is calculated based on whatever cash is in the pot.

Lots of people base their ticket purchase... [ More ]

Looks like the cash jackpot for MM & PB is going backwards

pickone4me — Thu, 07 Nov 2013 15:22:18 GMT

Looks like the cash jackpot for MM PB is going backwards. I sure won't play until the cash jackpot reaches at least 100 million. Maybe people are tired of seeing there money going to commiefornia.