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Powerball & Megamillions Growing

Topic closed. 49 replies. Last post 9 years ago by Guru101.

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How far will these current jackpots reach?

$200,000,000 - Powerball [ 5 ]  [12.50%]
$300,000,000 - Powerball [ 19 ]  [47.50%]
$400,000,000 - Powerball [ 8 ]  [20.00%]
$200,000,000 - Megamillions [ 3 ]  [7.50%]
$300,000,000 - Megamillions [ 3 ]  [7.50%]
$400,000,000 - Megamillions [ 2 ]  [5.00%]
Total Valid Votes [ 40 ]  
Discarded Votes [ 6 ]  
Guru101's avatar - rw6jhh
Indiana
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January 7, 2007
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Posted: August 22, 2007, 1:26 pm - IP Logged

The cap started after the 315 prize so the 315 prize was set by sales only using the old Powerball game (better odds, more cash). Powerball made some changes including the new cap, longer odds and very little cash. After the prize reached 340 it was capped and any additional sales was added to the 5 + 0 pool. Same thing happened later when it hit 365. The new cap level is 390. That's not a coincidence it's part of the Powerball rules. I doubt it will hit 390 but that's a different story. If you search back especially to the 340 drawing there were many posts explaining the new cap system.

Looks like Mega survived it's turn. $201 Million with a real prize amount of $117 cash 

Please explain this "real prize amount".

Gonna win.Big Smile

    Guru101's avatar - rw6jhh
    Indiana
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    Posted: August 22, 2007, 11:55 pm - IP Logged

    PowerBall rises to $300,000,000!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

    Gonna win.Big Smile

      joshuacloak's avatar - Money Swim-uncle-scrooge-mcduck-35997717-677-518.jpg

      United States
      Member #32537
      February 12, 2006
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      Posted: August 23, 2007, 12:36 am - IP Logged

      $300,000,000 million

      thats a shiny number LOL

      140.3m cash 

      real cash - 35% no state tax added

      $91,195,000 million

      Mwahahahaha

      HELLO LINES

      how we love you"not"

      if it rolls,  i dont know how bad the sells/jump will be  LOL.

      1 more jump, come on, set us a new record! you can do it pb jackpotNaughty 

      now if olny mm will roll to 300 m too, and we have our selfs a jackpot nation fever crazyness

      No bees, no honey.

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        NY
        United States
        Member #23835
        October 16, 2005
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        Posted: August 23, 2007, 1:11 am - IP Logged

        i justy wait and see for my self who right, once pb gets that high'

         

        back to topic then of the growing jackpots.

        a Cash Option: 117.2 Million mega cash vs pb 114m,

         

        i worder which one will get won first

         

        i have a feeling come september we have not 1 but 2  350m+ jackpots on our hands LMAO

        If it rolls one more time you probably will get to find out. If it was just a coincidence that the last big run went from 300 to exactly 365 then another roll would be unlikely to push it past 370 to 375. Since that's not what happened, similar sales would add enough cash to bump the annuity jackpot by about $105 million, and it would roll to 405 if it weren't for the cap. If it does roll one more time I expect it to reach 390, with 5 to 10 million for the bonus pool.

          dvdiva's avatar - 8ball

          United States
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          Posted: August 23, 2007, 2:17 am - IP Logged

          I'd have to agree with that. Another roll will hit the cap and have about 5 million in the bonus pool. Not much. But since Mega is also high there will be less cross traffic from other states. Hard to say since both have never been this high together.

          Next stop for Mega would be 245 with a cash pot of 142 million. I'm sure one of them wil get hit on the Friday/Saturday drawings. Odds of both rolling would be unprecedented. Powerball would hit the cap while Mega would be at near record levels.

          What is also interesting is the sales for both games matches the cash prize and not the annuity amount. Powerball needs only to roll once to hit it's record and Mega needs to roll twice, maybe three times. While Powerball may very well hit it's record I really doubt Mega will. I'll still get tickets for this drawing though since if it's going to get hit I might as well take a shot at it. 

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            Morrison, IL
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            May 13, 2004
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            Posted: August 23, 2007, 8:17 am - IP Logged

            If it rolls one more time you probably will get to find out. If it was just a coincidence that the last big run went from 300 to exactly 365 then another roll would be unlikely to push it past 370 to 375. Since that's not what happened, similar sales would add enough cash to bump the annuity jackpot by about $105 million, and it would roll to 405 if it weren't for the cap. If it does roll one more time I expect it to reach 390, with 5 to 10 million for the bonus pool.

            Actually, the bonus pool will have only $2.3 million to $4.7 million, because it is all cash and not annuitized like the advertised jackpot is.

              Avatar
              NY
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              October 16, 2005
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              Posted: August 23, 2007, 11:13 am - IP Logged

              Actually, the bonus pool will have only $2.3 million to $4.7 million, because it is all cash and not annuitized like the advertised jackpot is.

              I already accounted for the difference. Assuming that sales for this run match sales for the run that created the 365 million jackpot there would be almost $50 million cash for the jackpot prize pool. Increasing the annuity value by $90 million would require about $42 million. That would leave close to $8 million for the bonus pool (about $15 million if it were annuity, which is where the 105 in my last post came from). Advertising a jackpot of more than 365 could increase sales, but even MUSL is only guessing at what the actual sales will be.

                Guru101's avatar - rw6jhh
                Indiana
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                Posted: August 23, 2007, 12:28 pm - IP Logged

                OMG, again with the cap talk. People, the PowerBall isn't capped at $390M. If it rolls to $375M, there will be a cap of $400M. You people need to look at the INCREASE cap. Also, I think some of you are becoming obsessed with the cash value argument. It's already been discussed that PowerBall and Mega Millions each have their advantages. There's nothing wrong with someone taking the annuity option. You people need to be less comparative with these 2 games. They're not run by the same organization, they're not played in the same states, and their payout schedules are different. One is not better than the other, so stop being obsessed with making one seem to be better. Not everyone is going to take the cash option. Not to mention, Mega Millions odds are 29 million more than PowerBall's. Also, I live in Indiana as well. I'm not about to drive a 4 hour round trip just so I can play Mega Millions every Tuesday and Friday, I'll play PowerBall here. So please stop with the PowerBall vs Mega Millions kiddy talk "My toy is better than yours".

                Gonna win.Big Smile

                  Avatar
                  NY
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                  Posted: August 23, 2007, 6:00 pm - IP Logged

                  Those of us who understand how it works are looking at the cap on the increase. The most it can go up is $25 million above the previous record, so therefore 390 is the highest it can go on the first roll that is more than the current record of $365 million. I know it's a challenging concept, but if it rolls to 375 and then goes to 400, the 400 will be the 2nd  jackpot that exceeds the current record. It has been pointed out that it could be less than 390, but past sales suggest that's unlikely given the current amount. Though the cap is on the increase, 390 is in fact the effective cap for the first roll that passes 365. That the cap may not come into play if sales limit the jackpot to less than 390 doesn't mean that the cap isn't applicable. It's no different than only driving 50 in a 55 mph zone. The limit is the limit whether you reach it or not.

                  Did you read what you quoted in your earlier post? "Whenever the Powerball jackpot reaches a record level, the amount of the jackpot prize is limited to increases for each draw of no more than $25 million." As soon as it reaches $365,000,000.01 it will reach a record level. If you look carefully you may notice that your quote doesn't say anything about having to be advertised at a amount that reaches a record before the cap applies. It's really not hard to understand, but since you're having so much trouble you can always look at what happened with the past 2 record setting jackpots. Other than bursting your balloon, it's a really simple way to see that the cap applies on the first roll with a jackpot that is more than the previous record. 

                    Guru101's avatar - rw6jhh
                    Indiana
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                    Posted: August 23, 2007, 6:49 pm - IP Logged

                    I would still like to know what everyone's obsession is with this cap?

                    Gonna win.Big Smile


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                      Posted: August 24, 2007, 11:18 am - IP Logged

                      the frenzy has started,just got back from jiffy stop,everyone in line got a bucks worth of pb,not knowing it will go somewhere west of pennsylvania!

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                        Greenwich, CT
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                        Posted: August 24, 2007, 11:56 am - IP Logged

                        Naw, the East Coast is due for a PB win.

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                          md
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                          Posted: August 24, 2007, 12:08 pm - IP Logged

                          Naw, the East Coast is due for a PB win.

                          It will be Maryland, and I will be crowned King of the Powerball!


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                            Posted: August 24, 2007, 12:44 pm - IP Logged

                            just analyzing statistics,in a casino,the experts say,you aren't due anything,it's a gamble.

                              joshuacloak's avatar - Money Swim-uncle-scrooge-mcduck-35997717-677-518.jpg

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                              Posted: August 26, 2007, 12:33 am - IP Logged

                              i guest  thats ends the debate for,  if  pb caps, and what roll

                               

                              and this topic is no longer upto date 

                              Powerball & Megamillions Growing

                              power ball jsut got raped. Hard

                               

                              Ah. ouch well, always next year for a new record LOL

                               to mm players, your jackpot next to be raped!