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Is a 400 million jackpot possible?

Topic closed. 22 replies. Last post 11 years ago by BaristaExpress.

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United States
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July 2, 2004
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Posted: October 16, 2005, 4:43 am - IP Logged

Man that would be incredable if that happens. 400 million i wonder what the payout would be. i expect this coming week to hear record lines in all powerball states even at a 340 million  jackpot. i live in NJ and i get my tickets from PA which is just accross the bridge on Saturday 15th i saw a lot of people then normal buying tickets. this coming week is going to be crazy.

    Down's avatar - Sphere animated2.gif
    Riverside, Ca
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    Posted: October 16, 2005, 4:51 am - IP Logged

    i think $400 millions is possible but too many states have powerball so it will get hit on the next draw

      whodeani's avatar - lightening

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      Posted: October 16, 2005, 4:57 am - IP Logged

      Well to get a $400 million jackpot, Powerball would have to rollover three more times with a new record jackpot now set. The jackpot will now only go up $25 million after each rollover. It may be possible to hit $400 million but I think the odds would be against it. But then again, with the way gas prices are people may not buy tickets like they did a few years back and now with more combinations to cover, you could have a significant number of combinations not being covered. Who knows?????

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        new delhi
        India
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        Posted: October 16, 2005, 5:55 am - IP Logged

        let her roll..................

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          Huntsville AL
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          Posted: October 16, 2005, 8:38 am - IP Logged

          Can any one tell me why the MM Annuity vs cash is 90/53 = little less than 60% and PB is 340/164.4 which is less than 50%.

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            Sparta, NJ
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            Posted: October 16, 2005, 9:21 am - IP Logged

            Can any one tell me why the MM Annuity vs cash is 90/53 = little less than 60% and PB is 340/164.4 which is less than 50%.

            When the sheep line up to give you money every day, you can make up any rule you want. The lottery is not a democracy, it is a business. Their goal is make every penny they can out of every dollar spent by the better. If they could lower the ratio, and increase the bottom line, they would - and, some day, they probably will. If they don't make the profit they want, they'll change the rulls again, and again, and again. Think of them as car dealers, with a better gimmic.

            Cheers

            |||::> *'`*:-.,_,.-:*''*:--->>> Chewie  <<<---.*''*:-.,_,.-:*''* <:::|||

            I only trust myself - and that's a questionable choice

              Todd's avatar - Cylon 2.gif
              Chief Bottle Washer
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              Posted: October 16, 2005, 10:07 am - IP Logged

              Can any one tell me why the MM Annuity vs cash is 90/53 = little less than 60% and PB is 340/164.4 which is less than 50%.

              Go to USA Mega and click on Powerball Jackpot Analysis.  All the info is right there.  Same thing for Mega Millions.

               

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

               

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

                hypersoniq's avatar - 8ball
                Pennsylvania
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                Posted: October 16, 2005, 10:39 pm - IP Logged

                10/29/2005... IF the next 3 draws roll over, that saturday jackpot will be a cool $415,000,000 (using the CAP rules)

                11/12/2005 (my son's 9th birthday)... if it rolls till then, it breaks a half a billion!

                 

                Playing more than one ticket per game is betting against yourself.

                  dvdiva's avatar - 8ball

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                  September 17, 2003
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                  Posted: October 16, 2005, 11:07 pm - IP Logged

                  10/29/2005... IF the next 3 draws roll over, that saturday jackpot will be a cool $415,000,000 (using the CAP rules)

                  11/12/2005 (my son's 9th birthday)... if it rolls till then, it breaks a half a billion!

                   

                  I would hope it would be hit by then. I doubt it will last past Saturday at the latest. It's far more likely that Mega Millions would pass 400 plus it would have a far greater cash prize. It also would hurt where I play since WA has no state income tax and OR has a 9% income tax if I win PB.

                    hypersoniq's avatar - 8ball
                    Pennsylvania
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                    Posted: October 16, 2005, 11:24 pm - IP Logged

                    p-ball jackpot odds are 1 in 146,107,962.00

                    mm jackpot odds are 1 in 175,711,536.00

                    I think you are right about MM's chances of 400+M overall... in the short term, pb has a 250M lead ;-)

                     

                    Playing more than one ticket per game is betting against yourself.

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                      Morrison, IL
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                      Posted: October 16, 2005, 11:34 pm - IP Logged

                      10/29/2005... IF the next 3 draws roll over, that saturday jackpot will be a cool $415,000,000 (using the CAP rules)

                      11/12/2005 (my son's 9th birthday)... if it rolls till then, it breaks a half a billion!

                       

                        Oh man, imagine how much money would be in the match 5 bonus pool if it rolled until November 12!!!

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                        Posted: October 18, 2005, 12:45 am - IP Logged

                        Can any one tell me why the MM Annuity vs cash is 90/53 = little less than 60% and PB is 340/164.4 which is less than 50%.

                        Hey ScubaSki,

                        The difference in percentages are mainly due to the different terms of length of the Annuity that is bought with the cash pool.  Megamillions has a 26 year annuity payout, while powerball has a 30 year annuity payout.  So they can advertise powerball at a higher number (though lower percentage) then they would be able to a MM  jackpot because the initial prize money has another four years to earn interest in the annuity.  The lottery association does not actually have the 340 million dollars in its possession, they have the cash option in hand (which is also considerably less than the ticket sales because they take about 50% out for whatever the state puts its lottery revenue towards).  which is why the cash option is available in cash right away (or after two weeks).  So the better way compare Jackpots is to look at the size of the cash option.  The annuity is just a guaranteed investment over time.  However, an average investor can usually beat the annuity anyway.

                         

                         

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                          Posted: October 18, 2005, 5:38 am - IP Logged

                          i guess anything is possible.. i would love to see it get over 400 million. just to see what would happen it gets that hight.. it could get higher than the advertised jackpost-with alot of people buying tickets...

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                            Morrison, IL
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                            Posted: October 18, 2005, 11:32 am - IP Logged

                            Can any one tell me why the MM Annuity vs cash is 90/53 = little less than 60% and PB is 340/164.4 which is less than 50%.

                            Hey ScubaSki,

                            The difference in percentages are mainly due to the different terms of length of the Annuity that is bought with the cash pool.  Megamillions has a 26 year annuity payout, while powerball has a 30 year annuity payout.  So they can advertise powerball at a higher number (though lower percentage) then they would be able to a MM  jackpot because the initial prize money has another four years to earn interest in the annuity.  The lottery association does not actually have the 340 million dollars in its possession, they have the cash option in hand (which is also considerably less than the ticket sales because they take about 50% out for whatever the state puts its lottery revenue towards).  which is why the cash option is available in cash right away (or after two weeks).  So the better way compare Jackpots is to look at the size of the cash option.  The annuity is just a guaranteed investment over time.  However, an average investor can usually beat the annuity anyway.

                             

                             

                              Um, I wouldn't be so sure of beating the annuity, at least not without making risky investments.  Taken from Powerball FAQ:

                            CASH VS. ANNUITY - MY FINANCIAL EXPERTS SAYS HE CAN EARN MORE THAN THE ANNUITY WITH THIS CASH.

                            We have seen that even financial experts forget about taxes. From the example above, if the winner takes the cash, then the winner will have to pay state and federal taxes on the cash amount. The amount of income tax will vary, but it will likely be somewhere close to half the cash amount. With $50 million as a cash prize, a cash winner will have less than $30 million to invest. We don’t pay any income tax and so start out by investing the whole $50 million.

                            Sometimes financial experts also do not understand how the annuity prize is paid out. We do not hold the prize for 29 years and then pay it all out. The winner gets the first payment immediately and then an annual payment for the next 29 years. And this is guaranteed. It is possible to beat this income stream, but not without risk.

                            ---------------------------------------------------------------------

                            However, I think Powerball left out the fact that if you invested the cash, you'd get payments from it forever instead of just for 30 years.

                              dvdiva's avatar - 8ball

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                              Posted: October 18, 2005, 2:20 pm - IP Logged

                              I'm sure Powerball has it's own reasons to harp on why an annuity is such a great deal (especially the back loaded POS one they offer). If people looked at the cash amount they would get post tax it would dampen sales. It's also about control. I don't want to wait around for my check like a welfare recipient, I want control over the money from day one independent of what MUSL wants.