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Matrix change: Powerball to get much harder to win?

Topic closed. 30 replies. Last post 9 years ago by Guru101.

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Guru101's avatar - rw6jhh
Indiana
United States
Member #48725
January 7, 2007
1953 Posts
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Posted: December 31, 2007, 7:28 pm - IP Logged

Considering the payout is less than half, yes that's pathetic. Consider the following players:

In Canada and Europe if the jackpot is listed as $30M you get a check for that amount. It's value is the same as the listed jackpot prize.

In Megamillions the prize listed as $30M means it's cash prize is $18M and after tax is around $12M. That last number is the actual value the prize has.

In Powerball the prize listed as $30M. It's cash value is 14.7M and after tax is around $10M. Assuming no state income tax for either prize.

That post tax amount will drop if a Democrat is elected in 08 and adds the 4% for social security plus the high cost of public health care. Canada and Europe already have public health care but don't tax winnings from state run lotteries. 

You did it again! You just said "Considering the payout is less than half, yes that's pathetic. Consider the following players". I just told you why it is the way it is. Powerball allows a HIGHER annuity value with less cash! The problem that you are having is that you're seeing the cup as half empty, when you should be seeing it as half full. So which is better?

A. Powerball jackpot with a $50M annuity value and $24M cash value(48%).

B. Powerball jackpot with a $48M annuity value and $24M cash value(50%).

Going by your logic, jackpot A would be considered pathetic. REMEMBER, cash is calculated first!

Gonna win.Big Smile