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Looks like the cash jackpot for MM & PB is going backwards

Topic closed. 7 replies. Last post 3 years ago by THRIFTY.

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pickone4me's avatar - 021414tvlies zpsa453b327.jpg
Wisconsin
United States
Member #104962
January 23, 2011
1075 Posts
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Posted: November 7, 2013, 10:22 am - IP Logged

Looks like the cash jackpot for MM & PB is going backwards.  I sure won't play until the cash jackpot reaches at least 100 million.  Maybe people are tired of seeing there money going to commiefornia.

    Todd's avatar - Cylon 2.gif
    Chief Bottle Washer
    New Jersey
    United States
    Member #1
    May 31, 2000
    23357 Posts
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    Posted: November 7, 2013, 10:38 am - IP Logged

    The cash amount is the cash amount.  It doesn't go backwards; it is the only thing that is constant and directly based on ticket sales.

    What you are seeing is the annuity amount getting better, because of better interest rates and Mega Millions going to a 29-year (30 payment) annuity with a 5% annual increase.

    So the cash amount just keeps increasing based on actual ticket sales, and the annuity is calculated based on whatever cash is in the pot.

    Lots of people base their ticket purchase decisions on the amount in the cash pot, there is nothing wrong with that.  But you need to understand that the cash value is not calculcated based on the annuity.  It is the exact opposite:  the annuity amount is calculated based on the cash on-hand (and estimated to be on-hand just before draw time).

    If the cash value is not high enough for you, then maybe you should complain that not enough people are buying tickets. Smiley

     

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      pickone4me's avatar - 021414tvlies zpsa453b327.jpg
      Wisconsin
      United States
      Member #104962
      January 23, 2011
      1075 Posts
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      Posted: November 7, 2013, 12:45 pm - IP Logged

      Thanks for explaining all that.

        RJOh's avatar - chipmunk
        mid-Ohio
        United States
        Member #9
        March 24, 2001
        19904 Posts
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        Posted: November 7, 2013, 7:55 pm - IP Logged

        In many states, the cash values of the local games are completing with the cash values of the multi-states games when they reset so it natural that fewer people are going to buy MM and PB tickets when the same money can be won with better odds.  For example Ohio's Classic Lotto(6/49) has a jackpot of $50M/$25M cash with odds twelve or more times better than those of MM or PB.

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

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          New Member
          Washington
          United States
          Member #148665
          November 8, 2013
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          Posted: November 8, 2013, 12:18 pm - IP Logged

          The cash amount is the cash amount.  It doesn't go backwards; it is the only thing that is constant and directly based on ticket sales.

          What you are seeing is the annuity amount getting better, because of better interest rates and Mega Millions going to a 29-year (30 payment) annuity with a 5% annual increase.

          So the cash amount just keeps increasing based on actual ticket sales, and the annuity is calculated based on whatever cash is in the pot.

          Lots of people base their ticket purchase decisions on the amount in the cash pot, there is nothing wrong with that.  But you need to understand that the cash value is not calculcated based on the annuity.  It is the exact opposite:  the annuity amount is calculated based on the cash on-hand (and estimated to be on-hand just before draw time).

          If the cash value is not high enough for you, then maybe you should complain that not enough people are buying tickets. Smiley

          Yes you are right on. But the biggest driver of the advertised jackpot is interest rates. The higher they go the larger the annuity is. In fact if interest rates were to double you'd see a 600million jackpot but only a 100million cash value before taxes. So at some point it would make more sense to take the annuity instead of cash if interests rates were much higher. In fact low interest rates from the FED have inflated cash values in the last decade relative to the annuity.

            whiteballz's avatar - Lottery-015.jpg
            Nutley, New Jersey
            United States
            Member #131058
            August 1, 2012
            875 Posts
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            Posted: November 9, 2013, 12:58 am - IP Logged

            Looks like the cash jackpot for MM & PB is going backwards.  I sure won't play until the cash jackpot reaches at least 100 million.  Maybe people are tired of seeing there money going to commiefornia.

            NJ and FL were winning every other drawing a few months ago.

            .


              United States
              Member #124493
              March 14, 2012
              7023 Posts
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              Posted: November 17, 2013, 10:35 pm - IP Logged

              Looks like the cash jackpot for MM & PB is going backwards.  I sure won't play until the cash jackpot reaches at least 100 million.  Maybe people are tired of seeing there money going to commiefornia.

              I agree.  However I think its only a figure of speech.

              Previously They would both grow slow and then at a certain point take off.

              Then when PB increased price PB would grow decent and take off right away, while MM was growing like a snail.

              Now with the increase Matrix in MM, it seems, BOTH

              PB and MM are growing pretty much at the same rate,  No race. As if they are both taking a slow leisureley saunter in the grass.

                THRIFTY's avatar - great seal_obverse.jpg
                NEW YORK
                United States
                Member #90535
                April 29, 2010
                12118 Posts
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                Posted: November 18, 2013, 2:36 pm - IP Logged

                The cash amount is the cash amount.  It doesn't go backwards; it is the only thing that is constant and directly based on ticket sales.

                What you are seeing is the annuity amount getting better, because of better interest rates and Mega Millions going to a 29-year (30 payment) annuity with a 5% annual increase.

                So the cash amount just keeps increasing based on actual ticket sales, and the annuity is calculated based on whatever cash is in the pot.

                Lots of people base their ticket purchase decisions on the amount in the cash pot, there is nothing wrong with that.  But you need to understand that the cash value is not calculcated based on the annuity.  It is the exact opposite:  the annuity amount is calculated based on the cash on-hand (and estimated to be on-hand just before draw time).

                If the cash value is not high enough for you, then maybe you should complain that not enough people are buying tickets. Smiley

                Lottery players will be spending more money in states games than Mega Millions and Powerball. You play against less people in state games with better odds to win.

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