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MM jackpot turns out to be $390m

Topic closed. 21 replies. Last post 10 years ago by Just6ntlc.

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California
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October 1, 2006
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Posted: March 7, 2007, 9:49 pm - IP Logged

twisted...so to be sure I understand thie, say the Powerball jackpot goes to $390 million and the remainder (say $20 million) rolls down.  The jackpot is not won.  Would all the sales for the next draw roll down?

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    Chief Bottle Washer
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    Posted: March 7, 2007, 9:50 pm - IP Logged

    <Moved to Jackpot Games forum>

    Please post in the appropriate forum ... thank you.

    PLEASE KEEP MEGA MILLIONS THREADS IN THE JACKPOT GAMES FORUM.

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      Chief Bottle Washer
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      Posted: March 7, 2007, 9:51 pm - IP Logged

      Story of the first winner to claim half of the $390 million jackpot:

      http://www.lotterypost.com/news/152409.htm

       

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        Morrison, IL
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        Posted: March 7, 2007, 9:53 pm - IP Logged

        The current Powerball record is $365 million.  If the jackpot for the drawing is at $360 and is not won what happens to the jackpot amount for the next drawing? 

        If the jackpot is at $360 million and rolls, the maximum it will get to is $390 million because the previous record was $365 million.  The cap rule says that the jackpot can only roll upto $25 million higher than the previous record.

        Even if the jackpot is at $389 million before rolling, it will only be allowed to reach $390 million.

        No, if the jackpot was at $389 million before rolling, it would be allowed to reach $414 million because the $389 million would be the new record.

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          The Carolinas - Charlotte
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          Posted: March 7, 2007, 10:34 pm - IP Logged

          I get a bad feeling about this stooge in GA that came forward today...could he possibly be the next Jack W? I really hope not...please be smart, Mr. Nabors...please be smart!!

          The North Carolina Education Lottery - so much a joke that here are their mascots:

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            NY
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            Posted: March 8, 2007, 2:22 am - IP Logged

            The current Powerball record is $365 million.  If the jackpot for the drawing is at $360 and is not won what happens to the jackpot amount for the next drawing? 

            If the jackpot is at $360 million and rolls, the maximum it will get to is $390 million because the previous record was $365 million.  The cap rule says that the jackpot can only roll upto $25 million higher than the previous record.

            Even if the jackpot is at $389 million before rolling, it will only be allowed to reach $390 million.

            The cap on PB is a limit on how much it can increase each time it rolls. Once the previous record is reached  it can go up by no more than $25 million (annuity, of course) for the subsequent drawing. The previous PB record was 365, so if it rolls past 365 it will be limited by the lesser of actual sales or the $25 million cap. If it rolls to  the mid-200's a subsequent roll could take it past 365 without reaching 395. If sales take it to 387 and it rolls again the cap would limit the next draw to 412. In theory it could roll another 50 times, but even if they sold a billion tickets for one draw the jackpot would only increase by $25 million. Since the cap is based on the annuity and PB's lump sum is only about 48% of the annuity value, the increase in the lump sum would only be about $12 million. Selling 200 million tickets, like MM just did, would put about $50 million into the 2nd place prize pool.  Of course that many rolls and sales of a billion tickets for a single draw are incredibly unlikely, but multiple rolls after the cap kicks in could lead to the ultimate irony. In theory a second place winner could get more than a jackpot winner.


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              Posted: March 11, 2007, 8:43 pm - IP Logged

              Congratulations to the jackpot winners in NJ and GA. I had hoped that only one jackpot winner occurred in Mega Millions.