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Mega Millions paltry increase ($12M -> $14M)

Topic closed. 4 replies. Last post 5 years ago by Coin Toss.

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California
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May 25, 2008
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Posted: August 24, 2011, 12:17 pm - IP Logged

Coin Toss, I would've revived your old thread, but it was closed. You were surprised it only increased to $15M.  Now it's only $14M.

Last time there was an increase this small was July 4, 2006.

So, what, I guess ($12 ->13M) is next?

Already regretting delurking...

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    Columbus, OH
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    August 28, 2010
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    Posted: August 24, 2011, 12:24 pm - IP Logged

    Technically, it is about the same as an increase, say, to $16 million. With a $10 million cash value, Mega Millions is currently paying out at 71% of the annuitized value. Usually, that number is somewhere around 60-62%. Even at $16 million, with a cash value of $10 million, that would be slightly higher than 62% cash-value payout. If the Jackpot increased to $16 million (as opposed to $14 million) and maintained the same % rate of over 71% cash-value payout, the cash value would be $11.4 + million. Typically, when the cash value is lower, the annuitized value is higher. And when the cash value is higher, the annuitized value is lower. Thus, we won't be seeing the huge jumps but the cash value will still be about the same as it would be if there were larger inreases.

      RJOh's avatar - chipmunk
      mid-Ohio
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      Posted: August 26, 2011, 10:03 am - IP Logged

      What really matters is the amount its cash value increases since the jackpot is dependent on how much interest the cash value can earn in a 26 years annuity.

       * you don't need to buy more tickets, just buy a winning ticket * 
         
                   Evil Looking       

        ressuccess's avatar - Lottery-043.jpg

        United States
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        June 23, 2010
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        Posted: August 26, 2011, 12:28 pm - IP Logged

        This is the smallest jackpot raise for the first time since only 12 states participated in Mega Millions.

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          Zeta Reticuli Star System
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          January 17, 2006
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          Posted: August 26, 2011, 6:52 pm - IP Logged

          Coin Toss, I would've revived your old thread, but it was closed. You were surprised it only increased to $15M.  Now it's only $14M.

          Last time there was an increase this small was July 4, 2006.

          So, what, I guess ($12 ->13M) is next?

          bytheshore,

          Thanks for remembering it.

          Maybe since both MM and PB are now available in states where before people could only play one or the other most people are going for the higher jackpot.

          Maybe in some kind of weirdo marketing experiment that's exactl what the MUSL wants us to do!

          Scared

          Those who run the lotteries love it when players look for consistency in something that's designed not to have any.

          Lep

          There is one and only one 'proven' system, and that is to book the action. No matter the game, let the players pick their own losers.