Billion-dollar jackpot for Mega Millions?Prev TopicNext Topic

• WhoaMama

  

  United States
  Member #175,639
  June 27, 2016
  321 Posts
  Offline
  Nov 23, 2019, 1:21 pm

  ▲▼

  MUSL does not want us to win a small amount this time. So it could be possible that we will get a HUGE prize! Is it a billion?
  
  Vote and discuss here.
• MsBee18

  

  Florida
  United States
  Member #186,817
  January 2, 2018
  577 Posts
  Offline
  Nov 23, 2019, 3:19 pm

  ▲▼

  No billion dollar jackpot this year
• music*

  

  Fresno, California
  United States
  Member #157,847
  August 2, 2014
  3,959 Posts
  Offline
  Nov 26, 2019, 3:22 pm

  ▲▼

  I am hoping that MM reaches $1.7 billion jackpot this time around. But I will not be disappointed when I win tonight, 11/26/2019. I certainly could use $97,209,000.00. After all taxes are paid by April 15, 2020. 

   We need a LP member or Staff to win!

    I have noticed that a lot of pools are being created for this MM jackpot. Annuity = $226 million.

   If it rolls over tonight it will probably be by a very large amount. That will lead to the billion dollar level.

  

   "We are all in this together!" 
• WhoaMama

  

  United States
  Member #175,639
  June 27, 2016
  321 Posts
  Offline
  Nov 26, 2019, 3:22 pm

  ▲▼
  In response to MsBee18

  Quote: Originally posted by MsBee18 on Nov 23, 2019

  No billion dollar jackpot this year

  are you sure? someone voted yes
• MsBee18

  

  Florida
  United States
  Member #186,817
  January 2, 2018
  577 Posts
  Offline
  Nov 26, 2019, 10:25 pm

  ▲▼
  In response to WhoaMama

  Quote: Originally posted by WhoaMama on Nov 26, 2019

  are you sure? someone voted yes

  The buying frenzy doesn't start until the jackpot reaches 400M.
• music*

  

  Fresno, California
  United States
  Member #157,847
  August 2, 2014
  3,959 Posts
  Offline
  Nov 27, 2019, 11:10 am

  ▲▼

    MM rolled over!  MM  Annuity = $243,000,000.00   Lump Sum = $167,400,000.00

   For a tax free State like CA the After Tax Take Home ATTH= $105,462,000.00 Lump Sum

   Imagine what you could do with a hundred million dollars!

   "We are all in this together!" 
• music*

  

  Fresno, California
  United States
  Member #157,847
  August 2, 2014
  3,959 Posts
  Offline
  Nov 30, 2019, 4:38 pm

  ▲▼

    MM rolled. Annuity = $266,000,000.00  Lump Sum = $182,300,000.00

   CA ATTH "After Tax Take Home"= $114,849,000.00

   Imagine everything that you could do with this size jackpot!

   "We are all in this together!" 
• KY Floyd

  

  NY
  United States
  Member #23,834
  October 16, 2005
  5,128 Posts
  Offline
  Dec 7, 2019, 1:39 pm

  ▲▼

  "MUSL does not want us to win a small amount this time."

  The lotteries control how much is won by either skimming straight off the top or by setting the odds and letting probability take care of the rest. Their only interest in how much anyone wins is the publicity they get from advertising the win. They want to advertise big jackpots to boost sales, but they're probably just as happy with 2 or 3 winners splitting the money as they are with 1 person getting it all. They might even prefer multiple winners because more winners probably helps sales in general.

  "are you sure? someone voted yes"

  Are clueless people allowed to vote? The jackpot is now set at $314 million for 12/10 and there are 6 more drawings before the end of the year. The one time that MM hit 1 billion it did it on the 6th roll after being advertised at $336 million. The cash value at that time was about 57.1% of the annuity value, so it took about $571 million in the jackpot pool to advertise the jackpot at $1 billion. For the 12/10 drawing the cash value is 67.6% so it will take about $676 million. That means we'd need total sales to be about 18% higher. The record MM run reached $336 million on the 19th drawing, and had about $192 million in cash. The 12/10 jackpot advertised at $314 million is the 22nd drawing, and has about $212 million in the prize pool. So far that averages out to a bit less cash per drawing for the current run (about $10.1 million for the record run vs $9.65 million now).

  That all adds up to only an extremely small chance that we'll see a $1 billion jackpot this year even if it rolls until 12/31.  Christmas sales might help a bit, but I'd be extremely surprised if it gets past 850 or 900, and I think 800 or less is more likely. Factor in the chance of a winner before it gets that far and the chance is awfully close to zero. OTOH, if it gets to about 845 the cash value will be just as much as it was for the $1 billion that was advertised in 10/18.