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Strange way of announcing jackpot win

Topic closed. 2 replies. Last post 8 years ago by justxploring.

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justxploring's avatar - villiarna
Wandering Aimlessly
United States
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November 5, 2005
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Posted: January 17, 2009, 12:28 pm - IP Logged

Last night the estimated Florida MegaMoney jackpot was $900,000.  The game is parimutuel, so the jackpot is based on the number of tickets sold.  It had rolled from $500,000 to $700,000 and then to $900,000.  The winner has a choice of a lump sum or $45,000 a year for 20 years. 

One person hit last night right here in Naples and this is the press release.  I just thought it was interesting, since that might be the cash value (before tax)    I've never seen this before, so maybe it's an error.  In Florida, the cash value is never announced until the ticked is validated, since annuity rates change.  In the past, whenever someone chose annual payments, they didn't even announce the cash value. 

 

 The Florida Lottery announced today that one player matched all four numbers plus the MEGABALL™ in the Friday, January 16, MEGA MONEY™ drawing and will win a $734,813.24 jackpot.

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    January 14, 2009
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    Posted: January 17, 2009, 6:12 pm - IP Logged

    Since it is a parimutuel pool you must also take into account the winners of less then jackpot which will then reduce the $900K pool.

      justxploring's avatar - villiarna
      Wandering Aimlessly
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      Posted: January 17, 2009, 6:26 pm - IP Logged

      Yes, NJ-HMAN.  I thought of that too.  However, since the jackpot was already $700,000 is it possible that it only rolled another $34,800?  I doubt it.  The average MM rollover used to be $300,000 but now it's about $200,000. 

      I realize that PB might have reduced the jackpots for the other FL games, but I would find it hard to believe that any jackpot would be in uneven numbers.  In other words, the announcement usually would say "One lucky player won a $750,000 jackpot."

      I think this was probably a mistake or the person writing the press release used the estimated cash value, although the percentage is very high (over 80%)   We'll see when the winner comes forward.  It's no big deal, but I thought I'd post it, since it's very unusual, and I read all the Florida Lottery press releases.