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Can U dig $108m this FR ? MM ROLLED OVER

Topic closed. 9 replies. Last post 11 years ago by JimmySand9.

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United States
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September 11, 2005
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Posted: October 19, 2005, 1:10 am - IP Logged

 

I Can

Annuities are for Lovers...Lumps are for LOSERS

    dvdiva's avatar - 8ball

    United States
    Member #2338
    September 17, 2003
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    Posted: October 19, 2005, 1:11 am - IP Logged

    Not surprising. I would love to see MM match what PB is at now (since MM has no cap) but it has a long ways to go to get there.

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      United States
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      Posted: October 19, 2005, 1:16 am - IP Logged

       

      Not quite...."DIVA"

      MM has a "LIABILITY CAP"....

      Read on.....

       Should total prize liability, exclusive of Grand/Jackpot Prize rollover from previous drawings and California Lottery sales and prizes for prize levels 2 through 9, exceed 300% of draw sales or 50% of draw sales plus $50,000,000, whichever is less, (both hereinafter referred to as the "Liability Cap"), the Second through Fifth prizes shall be paid on a pari-mutuel rather than fixed prize basis, provided, however, that in no event shall the pari-mutuel prize be greater than the fixed prize.  The amount to be used for the allocation of such pari-mutuel prizes shall be the Liability Cap less the amount paid for the Grand/Jackpot Prize and prize levels Six through Nine.

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        Louisville, KY
        United States
        Member #15734
        May 20, 2005
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        Posted: October 19, 2005, 1:49 am - IP Logged

         

        Not quite...."DIVA"

        MM has a "LIABILITY CAP"....

        Read on.....

         Should total prize liability, exclusive of Grand/Jackpot Prize rollover from previous drawings and California Lottery sales and prizes for prize levels 2 through 9, exceed 300% of draw sales or 50% of draw sales plus $50,000,000, whichever is less, (both hereinafter referred to as the "Liability Cap"), the Second through Fifth prizes shall be paid on a pari-mutuel rather than fixed prize basis, provided, however, that in no event shall the pari-mutuel prize be greater than the fixed prize.  The amount to be used for the allocation of such pari-mutuel prizes shall be the Liability Cap less the amount paid for the Grand/Jackpot Prize and prize levels Six through Nine.

        I think what diva meant is that there is no "$25M Max rollover." But I have read that too... Interesting:

        JP: $12,000,000

        Draw Sales (Avg): $6,200,000

        300% of Sales: $18,600,000 (obviously the lesser amount)

        $18,600,000 : Liability Cap

        Example #'s drawn: 05-06-07-08-09  MB: 10

         

        5+0: 100 winners (maybe the fortune cookie thing again) = $25,000,000 (exceeds cap right there)

        4+1: 1000 winners

        4+0: 1500 winners

        3+1: 3000 winners

        3+0: 15000 winners

        6th-9th prize Total prizes paid: $2,600,000

        Pari-mutuel amount to use: $16,000,000

        In this example, the match 5 winners would get about $20,481 each (based on prize fund levels found at illinoislottery.com). THIS is MM's weak point.

         

          dvdiva's avatar - 8ball

          United States
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          Posted: October 19, 2005, 2:07 am - IP Logged

          Powerball also has a liability cap. Better read those state rules closer. In Oregon if someone wheeled all the Powerballs (for a total of $42) and played them with Powerplay you would NOT win 41 million if the X5 came up. The cap is 25 and could be even less.

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            Greenwich, CT
            United States
            Member #4793
            May 24, 2004
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            Posted: October 19, 2005, 4:28 pm - IP Logged

            Both MM and PB have not been over $100 million simultaneously since October of last year!  I'm in both games!

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              Whitwell, TN
              United States
              Member #5461
              July 5, 2004
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              Posted: October 19, 2005, 5:03 pm - IP Logged

              Everyone is caught up in PB and no one has really paid much attention to MM. I have been paying attention though I buy my $3.00 on Thursday and Tuesday.

               

               

              Good luck to all the LP players for tonight.

               

              As always I'm Destinedtowin.

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                Morrison, IL
                United States
                Member #4657
                May 13, 2004
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                Posted: October 19, 2005, 5:22 pm - IP Logged

                  All fixed prize lottery games have some sort of prize liability cap.  It's just that in the case of PB and MM, it's unlikely they'll ever bust, as neither of them have ever to date.

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                  Greenwich, CT
                  United States
                  Member #4793
                  May 24, 2004
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                  Posted: October 19, 2005, 5:52 pm - IP Logged

                  Not even with the Great Powerball Fortune-Cookie Fiasco of '05!

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                    United States
                    Member #1826
                    July 11, 2003
                    2645 Posts
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                    Posted: October 19, 2005, 6:01 pm - IP Logged

                    With Mega, $100M+ jackpots should be a commonplace occurance. It's really nothing special, but I am playing.

                    And should I win, I'll be making the right choice. CASH!

                    (insert signature here)