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Mega Millions Jackpot Reset?

Topic closed. 22 replies. Last post 12 years ago by danisiri.

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danisiri's avatar - Avatar all_for_Jesus.jpg

United States
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April 11, 2005
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Posted: May 24, 2005, 9:07 pm - IP Logged

Does anyone know if the MegaMillions jackpot will reset back to the starting amount on June 24th if no one wins the jackpot by then?  Just a curiosity question.

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    Amarillo/Austin
    United States
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    April 25, 2003
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    Posted: May 24, 2005, 10:09 pm - IP Logged

    Don't see how they could benefit from doing that.  Just gives them a head start on breaking the $200 million mark and selling more tickets.

    Orangeman

      RJOh's avatar - chipmunk
      mid-Ohio
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      March 24, 2001
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      Posted: May 24, 2005, 10:57 pm - IP Logged

      When MegaMillions started on 05/17/02, the first jackpot was $50M which included the last BigGame jackpot of $42M.  In the past if the jackpot under the old format was not won then it was rolled over into the new format.  The same thing will happen this time.

      RJOh

       * you don't need to buy more tickets, just buy a winning ticket * 
         
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        Todd's avatar - Cylon 2.gif
        Chief Bottle Washer
        New Jersey
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        Posted: May 24, 2005, 11:00 pm - IP Logged

        Can you imagine if someone from California were to win that jackpot?  Californians would not have contributed much to it, but all the money would flow into their state.

         

        Check the State Lottery Report Card
        What grade did your lottery earn?

         

        Sign the Petition for True Lottery Drawings
        Help eliminate computerized drawings!

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          Morrison, IL
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          Posted: May 25, 2005, 12:42 am - IP Logged

            That's the way the balls bounce.

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            Posted: May 25, 2005, 1:31 am - IP Logged

            $80,000,000 for Friday.

            (insert signature here)

              Todd's avatar - Cylon 2.gif
              Chief Bottle Washer
              New Jersey
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              Posted: May 25, 2005, 2:16 am - IP Logged

              True, and USA Mega has the cash option at $49 million.

               

              Check the State Lottery Report Card
              What grade did your lottery earn?

               

              Sign the Petition for True Lottery Drawings
              Help eliminate computerized drawings!


                United States
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                June 5, 2002
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                Posted: May 25, 2005, 1:14 pm - IP Logged

                The initial Mega Millions jackpot was originally set at $25 million, but was raised to $27 million due to sales from newcomers NY and OH.

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                  Greenwich, CT
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                  Posted: May 25, 2005, 2:43 pm - IP Logged

                  For the jackpot to not get hit before California's inception, it would be around $480 million for the June 24th drawing.  Of course that is unlikely, and if Mega Millions gets hit on any of its last 8 draws, it will not climb above $65 million for California's first draw.

                    rabbitfoot's avatar - 8ball

                    United States
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                    August 25, 2002
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                    Posted: May 25, 2005, 5:47 pm - IP Logged



                    For the jackpot to not get hit before California's inception, it would be around $480 million for the June 24th drawing.  Of course that is unlikely, and if Mega Millions gets hit on any of its last 8 draws, it will not climb above $65 million for California's first draw.



                    You have this well thought out.  However, I'm with Todd. I would hate to see even $65-million or less end up in CA on their first contributions to the game.

                    I play to dream and dream of winning a major jackpot!

                      RJOh's avatar - chipmunk
                      mid-Ohio
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                      March 24, 2001
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                      Posted: May 25, 2005, 8:06 pm - IP Logged

                      I play PowerBall in Indiana and this how they explain it on their website.

                       

                      Match 5 Bonus Prizes

                      At no additional cost, Powerball offers a Match 5 Bonus Prize feature designed to share the wealth when the jackpot reaches a new record level. The Hoosier Lottery will announce when the new bonus feature becomes effective, but watch for it whenever Powerball is estimated to reach a jackpot level that is more than $25 million over the previous record. At these new levels, the jackpot will be increased in increments of $25 million regardless of the amount of revenue generated by ticket sales, and sales above this amount will be used to create a Bonus Prize Pool. When the jackpot is won, the bonus pool money will be divided among players who win Powerball's second prize by matching the first five numbers but not the Powerball. 

                      RJOh

                       * you don't need to buy more tickets, just buy a winning ticket * 
                         
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                        Tx_Mega_Player's avatar - spider
                        BIG D Texas
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                        October 16, 2003
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                        Posted: May 25, 2005, 8:34 pm - IP Logged






                        For the jackpot to not get hit before California's inception, it would be around $480 million for the June 24th drawing.  Of course that is unlikely, and if Mega Millions gets hit on any of its last 8 draws, it will not climb above $65 million for California's first draw.





                        You have this well thought out.  However, I'm with Todd. I would hate to see even $65-million or less end up in CA on their first contributions to the game.



                        If I'm not the winner, it doesn't matter to me if the winner is from CA and it's their 1st time participating. I'd be creating bad karma for myself if I were to hope that the winner isn't from CA.  And besides, the residents of CA will have plenty of opportunities to lose just as much money as the rest of us... 

                          Tx_Mega_Player's avatar - spider
                          BIG D Texas
                          United States
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                          October 16, 2003
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                          Posted: May 25, 2005, 8:41 pm - IP Logged



                          I play PowerBall in Indiana and this how they explain it on their website.

                           

                          Match 5 Bonus Prizes

                          At no additional cost, Powerball offers a Match 5 Bonus Prize feature designed to share the wealth when the jackpot reaches a new record level. The Hoosier Lottery will announce when the new bonus feature becomes effective, but watch for it whenever Powerball is estimated to reach a jackpot level that is more than $25 million over the previous record. At these new levels, the jackpot will be increased in increments of $25 million regardless of the amount of revenue generated by ticket sales, and sales above this amount will be used to create a Bonus Prize Pool. When the jackpot is won, the bonus pool money will be divided among players who win Powerball's second prize by matching the first five numbers but not the Powerball. 

                          RJOh



                          When the jackpot is won, the bonus pool money will be divided among players who win Powerball's second prize by matching the first five numbers but not the Powerball. 

                          What happens to the bonus pool if the jackpot isn't won? In other words, what if it continues to roll several more times?

                            RJOh's avatar - chipmunk
                            mid-Ohio
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                            Member #9
                            March 24, 2001
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                            Posted: May 25, 2005, 9:02 pm - IP Logged

                            When the jackpot is won, the bonus pool money will be divided among players who win Powerball's second prize by matching the first five numbers but not the Powerball. 

                            I take that to mean that the bonus pool money continues to grow until the jackpot is won and then is divided among  the second prize winners of that same drawing.

                            RJOh

                             * you don't need to buy more tickets, just buy a winning ticket * 
                               
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                              RJOh's avatar - chipmunk
                              mid-Ohio
                              United States
                              Member #9
                              March 24, 2001
                              19830 Posts
                              Online
                              Posted: May 25, 2005, 9:21 pm - IP Logged

                              This is the explanation on the New Mexico Website

                              Match 5 Bonus Prize

                              When the Grand Prize reaches a new high annuitized amount through a procedure as determined by the Multi-State Lottery Group (MUSL), the maximum amount to be allocated to the Grand Prize pool from the Grand Prize percentage shall be the previous high amount plus $25 million (annuitized) or as otherwise set by MUSL. Any amount of the Grand Prize percentage, which exceeds the $25 million (annuitized) increase, shall be added to the Match 5 Bonus pool. The Match 5 Bonus prize pool is hereby created, and shall accumulate until the Grand Prize is won, at which time the Match 5 Bonus prize pool shall be divided equally by the number of game boards winning the Match 5 prize. If there are no Match 5 winners on the draw when the new high Grand Prize is won, then the Match 5 Bonus prize pool shall be divided equally by the number of game boards winning the Match 4+1 prize. “Match 5 Bonus” prizes are awarded independent of the Power Play option and are not multiplied by the Power Play multiplier. 

                              RJOh

                               * you don't need to buy more tickets, just buy a winning ticket * 
                                 
                                           Evil Looking