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is your state a powerball state or a mega million state

powerball state

[ 18 ]

[ 66.7% ]

megamillions

[ 8 ]

[ 29.6% ]

powerball but i prefer mega

[ 1 ]

[ 3.7% ]

mega state but i prefer powerball

[ 0 ]

[ 0.0% ]

Total valid votes

[ 27 ]

Discarded votes

[ 2 ]

JordanT1021

High Point
United States
Member #53,119
June 24, 2007
9,423 Posts
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Oct 8, 2008, 9:27 pm

I live in North Carolina I prefer powerball...

one simple reasons

# 1 mulitplier
ThatScaryChick

Idaho
United States
Member #56,504
November 21, 2007
8,005 Posts
Offline

Oct 9, 2008, 12:34 am

Powerball state. I don't prefer one over the other. Powerball just happens to be the one that is available to me at the moment.

"X - youtube - steam - instagram"

ThatScaryChick
guesser

United States
Member #41,382
June 16, 2006
1,969 Posts
Offline

Oct 9, 2008, 2:44 am

You could just go to each Lotteries' website and look there to see what state they are played in.
JordanT1021

High Point
United States
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June 24, 2007
9,423 Posts
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Oct 9, 2008, 6:12 am

Quote: Originally posted by guesser on Oct 9, 2008
You could just go to each Lotteries' website and look there to see what state they are played in.

i already know that.. i just want to know about the lottery post members....

i don't like how megamillions only pays $2 for matching the mega ball where powerball pays $3 for matching the powerball...
spy153

United States
Member #28,408
December 15, 2005
1,200 Posts
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Oct 9, 2008, 7:45 am

I live in a powerball state. And, like you, I prefer powerball... when it comes to the lower tier prizes. Right now, it is all I have been able to play. But Mega millions is the one with the better jackpot prizes. That's why I play it too. I'll admit it, I'm a jackpot hopper. Right now they are pretty much even on their jackpots' prizes so "anything goes" for me. I don't like how powerball messes with you in the cash option payout. You wind up not even getting half of the jackpot annuity advertised if you take the cash option, after taxes and so forth.

voir-vous dans mes reves!
JordanT1021

High Point
United States
Member #53,119
June 24, 2007
9,423 Posts
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Oct 9, 2008, 9:30 am

Quote: Originally posted by spy153 on Oct 9, 2008
I live in a powerball state. And, like you, I prefer powerball... when it comes to the lower tier prizes. Right now, it is all I have been able to play. But Mega millions is the one with the better jackpot prizes. That's why I play it too. I'll admit it, I'm a jackpot hopper. Right now they are pretty much even on their jackpots' prizes so "anything goes" for me. I don't like how powerball messes with you in the cash option payout. You wind up not even getting half of the jackpot annuity advertised if you take the cash option, after taxes and so forth.

so megamillions doesn't have a cash option payout?
Guru101

Indiana
United States
Member #48,723
January 7, 2007
1,961 Posts
Offline

Oct 10, 2008, 3:41 am

Powerball.

Gonna win.
Guru101

Indiana
United States
Member #48,723
January 7, 2007
1,961 Posts
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Oct 10, 2008, 3:51 am

Quote: Originally posted by spy153 on Oct 9, 2008
I live in a powerball state. And, like you, I prefer powerball... when it comes to the lower tier prizes. Right now, it is all I have been able to play. But Mega millions is the one with the better jackpot prizes. That's why I play it too. I'll admit it, I'm a jackpot hopper. Right now they are pretty much even on their jackpots' prizes so "anything goes" for me. I don't like how powerball messes with you in the cash option payout. You wind up not even getting half of the jackpot annuity advertised if you take the cash option, after taxes and so forth.

Mega Millions's cash option isn't a higher percentage of the annuity amount than Powerball simply "because". The problem people are having when it comes to comparing Powerball's cash option to Mega Millions's cash option, is that they look are looking at the annuity amount first. See, the cash amount is not determined from the annuity amount. It's the other way around. They determine the annuity amount from the cash amount. See, Powerball allows a higher annuity amount with less cash.

Gonna win.
spy153

United States
Member #28,408
December 15, 2005
1,200 Posts
Offline

Oct 10, 2008, 7:40 am

Quote: Originally posted by Guru101 on Oct 10, 2008
Mega Millions's cash option isn't a higher percentage of the annuity amount than Powerball simply "because". The problem people are having when it comes to comparing Powerball's cash option to Mega Millions's cash option, is that they look are looking at the annuity amount first. See, the cash amount is not determined from the annuity amount. It's the other way around. They determine the annuity amount from the cash amount. See, Powerball allows a higher annuity amount with less cash.

To JordanT: yes, mega millions has a cash option payout.

Guru:

Why does Powerball allow a higher annuity payout with less cash? Specifically.

voir-vous dans mes reves!
Guru101

Indiana
United States
Member #48,723
January 7, 2007
1,961 Posts
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Oct 10, 2008, 12:58 pm

Quote: Originally posted by spy153 on Oct 10, 2008
To JordanT: yes, mega millions has a cash option payout.

Guru:

Why does Powerball allow a higher annuity payout with less cash? Specifically.

Higher interest rates. How is the interest gained? I don't know.

Gonna win.
Stack47

Kentucky
United States
Member #32,651
February 14, 2006
10,302 Posts
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Oct 10, 2008, 4:07 pm

Quote: Originally posted by spy153 on Oct 10, 2008
To JordanT: yes, mega millions has a cash option payout.

Guru:

Why does Powerball allow a higher annuity payout with less cash? Specifically.

When the jackpot is at $20 million the "lump sum" or "cash value" amount represents the amount of money it takes to purchase a $20 million annuity. The Powerball annuity has 30 payments and Mega Million has 26 so MM's lump sum payoff is higher on a $20 million jackpot because the annuity term is shorter. A 26 year $20 million annuity costs more than a 30 year annuity and that why the MM cash value for the same advertised jackpot amount is higher.

Today's Powerball cash value jackpot is $10.3 million and that's an estimate of how much will be in the pot when the next wagering period ends. They calculate the net worth of a 30 payment annuity based on the cash value and that becomes the advertised jackpot of $20 million.

In other words if you have an extra $10.3 million and wanted to spread it out into payments over a 30 year period, you could buy an annuity and after 30 annual payments, you would have collected $20 million. If you choose 26 payments with the same $10.3 million, the total amount you collect over that period would be less than $20 million.
Guru101

Indiana
United States
Member #48,723
January 7, 2007
1,961 Posts
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Oct 11, 2008, 3:16 am

Quote: Originally posted by Stack47 on Oct 10, 2008
When the jackpot is at $20 million the "lump sum" or "cash value" amount represents the amount of money it takes to purchase a $20 million annuity. The Powerball annuity has 30 payments and Mega Million has 26 so MM's lump sum payoff is higher on a $20 million jackpot because the annuity term is shorter. A 26 year $20 million annuity costs more than a 30 year annuity and that why the MM cash value for the same advertised jackpot amount is higher.

Today's Powerball cash value jackpot is $10.3 million and that's an estimate of how much will be in the pot when the next wagering period ends. They calculate the net worth of a 30 payment annuity based on the cash value and that becomes the advertised jackpot of $20 million.

In other words if you have an extra $10.3 million and wanted to spread it out into payments over a 30 year period, you could buy an annuity and after 30 annual payments, you would have collected $20 million. If you choose 26 payments with the same $10.3 million, the total amount you collect over that period would be less than $20 million.

That would be a better explanation.

Gonna win.
JordanT1021

High Point
United States
Member #53,119
June 24, 2007
9,423 Posts
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Oct 11, 2008, 10:12 pm

Quote: Originally posted by Stack47 on Oct 10, 2008
When the jackpot is at $20 million the "lump sum" or "cash value" amount represents the amount of money it takes to purchase a $20 million annuity. The Powerball annuity has 30 payments and Mega Million has 26 so MM's lump sum payoff is higher on a $20 million jackpot because the annuity term is shorter. A 26 year $20 million annuity costs more than a 30 year annuity and that why the MM cash value for the same advertised jackpot amount is higher.

Today's Powerball cash value jackpot is $10.3 million and that's an estimate of how much will be in the pot when the next wagering period ends. They calculate the net worth of a 30 payment annuity based on the cash value and that becomes the advertised jackpot of $20 million.

In other words if you have an extra $10.3 million and wanted to spread it out into payments over a 30 year period, you could buy an annuity and after 30 annual payments, you would have collected $20 million. If you choose 26 payments with the same $10.3 million, the total amount you collect over that period would be less than $20 million.

this makes sense... thank you

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