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Is your state a powerball or a megamillions state

Topic closed. 12 replies. Last post 10 years ago by JordanT1021.

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is your state a powerball state or a mega million state

powerball state [ 18 ]  [66.67%]
megamillions [ 8 ]  [29.63%]
powerball but i prefer mega [ 1 ]  [3.70%]
mega state but i prefer powerball [ 0 ]  [0.00%]
Total Valid Votes [ 27 ]  
Discarded Votes [ 2 ]  
JordanT1021's avatar - images
Thread Starter
High Point
United States
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June 24, 2007
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Posted: October 8, 2008, 9:27 pm - IP Logged

I live in North Carolina I prefer powerball...

one simple reasons

# 1 mulitplier

    ThatScaryChick's avatar - pI8lWzJ

    United States
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    November 21, 2007
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    Posted: October 9, 2008, 12:34 am - IP Logged

    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.

    "No one remembers the person who almost climbed the mountain, only the person who eventually gets to the top."

      guesser's avatar - Lottery-017.jpg

      United States
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      June 16, 2006
      1969 Posts
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      Posted: October 9, 2008, 2:44 am - IP Logged

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

        JordanT1021's avatar - images
        Thread Starter
        High Point
        United States
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        June 24, 2007
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        Posted: October 9, 2008, 6:12 am - IP Logged

        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's avatar - maren

          United States
          Member #28408
          December 15, 2005
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          Posted: October 9, 2008, 7:45 am - IP Logged

          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.  Embarassed 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 What?of the jackpot annuity advertised if you take the cash option, after taxes and so forth.

          voir-vous dans mes reves!Cool

            JordanT1021's avatar - images
            Thread Starter
            High Point
            United States
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            June 24, 2007
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            Posted: October 9, 2008, 9:30 am - IP Logged

            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.  Embarassed 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 What?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's avatar - rw6jhh
              Indiana
              United States
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              January 7, 2007
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              Posted: October 10, 2008, 3:41 am - IP Logged

              Powerball.

              Gonna win.Big Smile

                Guru101's avatar - rw6jhh
                Indiana
                United States
                Member #48723
                January 7, 2007
                1961 Posts
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                Posted: October 10, 2008, 3:51 am - IP Logged

                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.  Embarassed 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 What?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.Big Smile

                  spy153's avatar - maren

                  United States
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                  December 15, 2005
                  1198 Posts
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                  Posted: October 10, 2008, 7:40 am - IP Logged

                  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!Cool

                    Guru101's avatar - rw6jhh
                    Indiana
                    United States
                    Member #48723
                    January 7, 2007
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                    Posted: October 10, 2008, 12:58 pm - IP Logged

                    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.Big Smile

                      Avatar
                      Kentucky
                      United States
                      Member #32651
                      February 14, 2006
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                      Posted: October 10, 2008, 4:07 pm - IP Logged

                      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's avatar - rw6jhh
                        Indiana
                        United States
                        Member #48723
                        January 7, 2007
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                        Posted: October 11, 2008, 3:16 am - IP Logged

                        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.Big Smile

                          JordanT1021's avatar - images
                          Thread Starter
                          High Point
                          United States
                          Member #53119
                          June 24, 2007
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                          Posted: October 11, 2008, 10:12 pm - IP Logged

                          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