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5m bump in Mega Millions?

Topic closed. 11 replies. Last post 11 years ago by psykomo.

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United States
Member #379
June 5, 2002
11296 Posts
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Posted: February 21, 2006, 7:44 pm - IP Logged

Since Saturday morning the jackpot was 170m. Maybe so much money from small Powerball wins pushed the MM jackpot a few ticks.

    TheGameGrl's avatar - character catafly.jpg
    A long and winding road
    United States
    Member #17084
    June 10, 2005
    4533 Posts
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    Posted: February 21, 2006, 8:00 pm - IP Logged

    I dont get it, one ticket annuity 175 gives 101 million cash

    one ticket annuity 365 gives 177 mill cash. Sorry but most folks need to see that MegaMillions gives out far more cash fund then PB. Someday ppl will do the math and see which game is more giving. It was pleasing to see the Mega increase! Thank you PB for at least doing that for the real lottery game!

    ~~Is it true, Is it kind,Is it necessary. ~~~

    christmas holly jolly numbers: 255,303,6911, 474,477 silver:47,gold:79.


      United States
      Member #379
      June 5, 2002
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      Posted: February 21, 2006, 8:02 pm - IP Logged

      I dont get it, one ticket annuity 175 gives 101 million cash

      one ticket annuity 365 gives 177 mill cash. Sorry but most folks need to see that MegaMillions gives out far more cash fund then PB. Someday ppl will do the math and see which game is more giving. It was pleasing to see the Mega increase! Thank you PB for at least doing that for the real lottery game!

      The MM annuity is 26 equal payments; PB is 30 graduated (increasing) installments.

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        Sparta, NJ
        United States
        Member #18331
        July 9, 2005
        1977 Posts
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        Posted: February 21, 2006, 8:14 pm - IP Logged

        I dont get it, one ticket annuity 175 gives 101 million cash

        one ticket annuity 365 gives 177 mill cash. Sorry but most folks need to see that MegaMillions gives out far more cash fund then PB. Someday ppl will do the math and see which game is more giving. It was pleasing to see the Mega increase! Thank you PB for at least doing that for the real lottery game!

        The MUSL Directors don't care what Mega does - until it impact their bonus money.  They cleaned up on the $365M pubilciity. 

        Joe smoe on the street corner does NOT know about 20 or 26 years waiting time.  All they see is $365M.  When I point out the cash/annuity numbers, every single person immediately says, who cares!  The blind sheep only hear the shearing cutters, has no idea of the results - and doesn't care.  Just sticks their nose up the butt of the one in front of them and marches on.  Sounds soothing, must be soothing.

        Cheers

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

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

          RJOh's avatar - chipmunk
          mid-Ohio
          United States
          Member #9
          March 24, 2001
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          Posted: February 21, 2006, 9:11 pm - IP Logged

          I'm never going to free sorry for the PowerBall jackpot winner that cries he has been cheated because had he won a MegaMillions jackpot of the same size his lump sum cash amount would have been more. Unhappy

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

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            Morrison, IL
            United States
            Member #4657
            May 13, 2004
            1884 Posts
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            Posted: February 21, 2006, 10:19 pm - IP Logged

            I dont get it, one ticket annuity 175 gives 101 million cash

            one ticket annuity 365 gives 177 mill cash. Sorry but most folks need to see that MegaMillions gives out far more cash fund then PB. Someday ppl will do the math and see which game is more giving. It was pleasing to see the Mega increase! Thank you PB for at least doing that for the real lottery game!



            The MUSL justifies its back loaded annuity on its FAQ page:

            ___________________________________________________________________________________
            WHY HAS THE CASH JACKPOT GONE DOWN?

            Actually, it is the annuity jackpot that has gone UP. Most people assume that we start with the annuity, but we actually start with the cash jackpot. In the Powerball game, thirty cents of every dollar sold goes into the cash jackpot pool. The difference between the cash jackpot and the annuity jackpot depends on how much we can make in interest earnings. The more interest that we can make, the higher the annuity jackpot. In times of high interest rates, the annuity prize will go UP and the difference between the two jackpot amounts will increase. It is not that we have reduced the cash; but only that we have been able to increase the annuity prize. All of the interest earned is paid to the winner for the annuity.

            Interest rates are slowly rising, which does reduce the cash percentage, but a change in the payment method of the Powerball annuity prize is the big reason for the increased interest earnings to build the annuity prize. The annuity is now paid out as a graduated annuity. Each payment is 4% higher than the previous year's payment to help keep up with inflation. The annuity prize used to be paid out in equal payments. Persons who elect to take the annuity prize do so because they don't want to worry about investing the money. They want to maintain their lifestyle for the term of the annuity. In fact, our past practice of equal installments did not really meet the needs of these winners. Going from an income of say, $50,000 a year to say, $1 million per year, sounds great (and I hear that it is), but ten years later, the winner's income is still $1 million a year and the price of luxury cars and yachts has gone up. In twenty years, the fact that the winner is living on a "fixed income" really starts to sink in. If you took the same cash jackpot amount to a professional financial advisor, they would certainly recommend investing for a graduated annuity so that your "real" income would stay at the same level every year. The Powerball annuity jackpot now does that.

            ___________________________________________________________________________________


            Maybe Mega Millions should back load its annuity as well so that winners stupid enough to actually take it would also not be living on a "fixed" income. Also, MM would then probably make it over $100 million in only seven rolls and make a record in only 15 rolls. Powerball currently takes 10 rolls to get over $100 million and 18 rolls to get a record, and Mega Millions takes only 9 rolls to get over $100 million and 17 rolls to get a record.
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              Morrison, IL
              United States
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              May 13, 2004
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              Posted: February 21, 2006, 10:43 pm - IP Logged

              Wow!! I just realized Mega Millions rolled only 12 times and it got this high. It's probably selling more tickets because the last three MM jackpots won were under $100 million. At this rate, MM would see a record after only four more rolls, making that only sixteen total rolls for a record as opposed to Powerball's eighteen!!

              Last Friday's MM drawing for $145 million sold over $50 million tickets. The last time a MM jackpot <= $145 million sold at least $50 million tickets was on June 17, 2003 (it was a $140 million pot).

                dvdiva's avatar - 8ball

                United States
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                September 17, 2003
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                Posted: February 22, 2006, 12:04 am - IP Logged

                I think they should do a 40 year backload annuity with a baloon payment at the end. See how many morons can't tell the difference. I'm not holding my breath on this one breaking 300 million. I have a feeling the time to buy would be now or the next two drawings tops. It seems cursed not to generate high prizes. Euromillions only needs 12 rolls to get to the record. It's prize is all cash.

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                  Morrison, IL
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                  Posted: February 22, 2006, 12:39 am - IP Logged

                  Yep, the downside of higher sales is that it's more likely the jackpot will be hit.


                    United States
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                    June 2, 2005
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                    Posted: February 22, 2006, 2:29 pm - IP Logged

                    I think CA was the reason why sales went up in last MM's draw. I won't be surprised if MM gets bumped higher on this draw. I predict 205 million next draw. When MM went from 310 to 315 million in a run, it's probably because of CA impact and sales.

                      twisted's avatar - underground
                      New Jersey
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                      September 25, 2003
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                      Posted: February 23, 2006, 12:25 am - IP Logged

                      I think they should do a 40 year backload annuity with a baloon payment at the end. See how many morons can't tell the difference. I'm not holding my breath on this one breaking 300 million. I have a feeling the time to buy would be now or the next two drawings tops. It seems cursed not to generate high prizes. Euromillions only needs 12 rolls to get to the record. It's prize is all cash.

                      EuroMillions drawing is held once a week. So it took 13 weeks for the EuroMillions jackpot to get to a record level. If MM reaches a record in 16 draws, that is only 8 weeks.

                        psykomo's avatar - animal shark.jpg

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                        May 30, 2004
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                        Posted: February 23, 2006, 1:15 am - IP Logged

                        I dont get it, one ticket annuity 175 gives 101 million cash

                        one ticket annuity 365 gives 177 mill cash. Sorry but most folks need to see that MegaMillions gives out far more cash fund then PB. Someday ppl will do the math and see which game is more giving. It was pleasing to see the Mega increase! Thank you PB for at least doing that for the real lottery game!

                        TheGameGrl!!!!!!!!!!!!!!!!!

                        I dont get it,...EITHER????

                        No won on this site is cap....of....bull of winning  PB or MM.......because,

                        THEY are afraid to spend the money on $$$$$$50-75-100......tickets...

                        after they have 50-100 hours as to what they THINK will HITTTTT?????

                        THEN play QUICK-Picks & $ave___________time and MONEY$$$$$$$

                        LOL 

                         PSYKOMO