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Powerball jackpot rollover

Topic closed. 16 replies. Last post 2 months ago by KY Floyd.

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Unluckyone's avatar - lib
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The powerball jackpot for tonight's drawing is $278million with a $196.6 million cash value, if it rolls over the new annuity value will only go up $2 million and yet the cash value will be $205 million. Anybody else find this strange?

    rcbbuckeye's avatar - Lottery-062.jpg
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    The powerball jackpot for tonight's drawing is $278million with a $196.6 million cash value, if it rolls over the new annuity value will only go up $2 million and yet the cash value will be $205 million. Anybody else find this strange?

    The cash value has been about 70.5% of the annuity for the last couple of months. I didn't go back farther than that. With each rollover the annuity has gone up around $8-$11 million. How do you figure the annuity will only go up $2 million?

    CAN'T WIN IF YOU'RE NOT IN

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      Unluckyone's avatar - lib
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      The cash value has been about 70.5% of the annuity for the last couple of months. I didn't go back farther than that. With each rollover the annuity has gone up around $8-$11 million. How do you figure the annuity will only go up $2 million?

      I saw it on the Texas lottery jackpot rollover estimate.

        Unluckyone's avatar - lib
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        Got to the Texas lottery page and click on Powerball, then "more info" and you will see the jackpot estimated calculation.

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          Got to the Texas lottery page and click on Powerball, then "more info" and you will see the jackpot estimated calculation.

          Ok. I never even bother with that page. It is only an estimate, because they can't say for sure what it will be if it rolls. Recent history shows that the annuity will go up $8-$11 million if it rolls. And the cash value which is the real jackpot because that is the amount used to buy the annuity has been about 70.5% of the annuity.

          CAN'T WIN IF YOU'RE NOT IN

          A DOLLAR AND A DREAM (OR $2)

            CDanaT's avatar - Nolz june15.jpg
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            Ok. I never even bother with that page. It is only an estimate, because they can't say for sure what it will be if it rolls. Recent history shows that the annuity will go up $8-$11 million if it rolls. And the cash value which is the real jackpot because that is the amount used to buy the annuity has been about 70.5% of the annuity.

            https://www.texaslottery.com/export/sites/lottery/Games/Powerball/Estimated_Jackpot.html

            The whole "hey lets raise the price to $2, more and larger prices thing, minimum standard increases"... How's that working for us participants ??.....Sometimes, no matter how much you try, it's better to leave things be.

            Integrity: There is no substitute.

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              rcbbuckeye's avatar - Lottery-062.jpg
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              https://www.texaslottery.com/export/sites/lottery/Games/Powerball/Estimated_Jackpot.html

              The whole "hey lets raise the price to $2, more and larger prices thing, minimum standard increases"... How's that working for us participants ??.....Sometimes, no matter how much you try, it's better to leave things be.

              You know, I'm really thinking about dropping PB and MM and playing All or Nothing for $1 million.

              It would cost $8 to play for a million, so why?

              Well, the odds to hit a million on PB or MM are 1 in 12 million+ for PB, and 1 in 13 million+ for MM. Odds on AoN jackpot odds are 1 in 2,704,156. Yeah, still high, but a lot less than the other two. Of course, there is the cost of play. Wouldn't be playing every day for sure.

              Look at scratch tix. Tix that pay a million cost at least $20, with comparable odds to AoN. 

              Hmmm.

              CAN'T WIN IF YOU'RE NOT IN

              A DOLLAR AND A DREAM (OR $2)

                Unluckyone's avatar - lib
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                Ok. I never even bother with that page. It is only an estimate, because they can't say for sure what it will be if it rolls. Recent history shows that the annuity will go up $8-$11 million if it rolls. And the cash value which is the real jackpot because that is the amount used to buy the annuity has been about 70.5% of the annuity.

                I have been using the Texas lottery estimate page for over a year and it has been spot on EVERY single time for both MM and PB

                  garyo1954's avatar - garyo
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                  The powerball jackpot for tonight's drawing is $278million with a $196.6 million cash value, if it rolls over the new annuity value will only go up $2 million and yet the cash value will be $205 million. Anybody else find this strange?

                  As of April last year the Powerball Product Group has used game sales and interest rates for the basis of the starting and rollover amount. They announce the value of the jackpot prior to each draw. Since states have no way of knowing what that minimum will be they probably adhere to the old method of estimating it. 


                  "It was announced last week (April 3, 2020) that the minimum Powerball jackpot would change from $40 million to $20 million and the minimum rollover amount would be reduced from $10 million to $2 million. The Powerball Product Group, the consortium of state lotteries that offers Powerball, has now gone a step further and announced that the minimum jackpot and rollover amount will be dispensed with.

                  "Instead of the minimum amounts, the starting jackpot and rollover amount will be based on game sales and interest rates. The Powerball Product Group will announce the value of the jackpot prior to each draw."

                  https://www.powerball.net/news/powerball-starting-jackpots-and-minimum-rollovers-to-be-eliminated#:~:text=It%20was%20announced%20last%20week%20that%20the%20minimum,jackpot%20and%20rollover%20amount%20will%20be%20dispensed%20with.

                  G

                  The biggest improvement you'll ever make in the odds of winning is buying a lottery ticket. With just one ticket the odds go from IMPOSSIBLE to IMPROBABLE!

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                    https://www.texaslottery.com/export/sites/lottery/Games/Powerball/Estimated_Jackpot.html

                    The whole "hey lets raise the price to $2, more and larger prices thing, minimum standard increases"... How's that working for us participants ??.....Sometimes, no matter how much you try, it's better to leave things be.

                    May be the reason for the latest Solar Eclipse, .. but..for once I Agree!

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                      ah1963's avatar - hadi12

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                      You know, I'm really thinking about dropping PB and MM and playing All or Nothing for $1 million.

                      It would cost $8 to play for a million, so why?

                      Well, the odds to hit a million on PB or MM are 1 in 12 million+ for PB, and 1 in 13 million+ for MM. Odds on AoN jackpot odds are 1 in 2,704,156. Yeah, still high, but a lot less than the other two. Of course, there is the cost of play. Wouldn't be playing every day for sure.

                      Look at scratch tix. Tix that pay a million cost at least $20, with comparable odds to AoN. 

                      Hmmm.

                      I stopped playing PB and MM long time ago. Play only Texas Lotto like me.

                      "People seem good while they are oppressed, but they only wish to become oppressors in their turn: life is nothing but a competition to be the criminal rather than the victim."

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                        "I have been using the Texas lottery estimate page for over a year and it has been spot on EVERY single time for both MM and PB"

                        I also don't remember it ever being wrong about the initial annuity value for the next drawing, and that includes a few occasions when the current jackpot got a decent bump before the drawing but after the next jackpot was already announced (the announcements are usually out by early afternoon on Fridays, 30+ hours before the Saturday drawing). On those occasions it was pretty much a foregone conclusion that the next jackpot would be raised early in the game, but the initial amount  stayed at the lowball amount. It's almost as if Texas is using official figures from MUSL.

                        "Anybody else find this strange"

                        What's strange is advertising an imaginary annuity value when reality is based on how much cash they have. The amount of cash always increases from one drawing to the next but the interest rate on the annuity can go up or down, and it just went down by a fair amount. The $278 million annuity advertised for tonight's drawing was based on earning about 41.4% in total interest. The annuity for Monday's jackpot is based on earning only about 36.6% in total interest, or possibly on earning even less interest but having to  advertise a minimum increase of $2 million for the annuity. Except that nobody's going to take the annuity it's possible that the earned annuity for Monday could be less than the $278 million that was offered tonight.

                          rcbbuckeye's avatar - Lottery-062.jpg
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                          I have been using the Texas lottery estimate page for over a year and it has been spot on EVERY single time for both MM and PB

                          Gotta admit you were right. Annuity is $280 million. The cash is about 73%, which is higher than previous. It is the cash value that determines the annuity. That's why I never really pay attention to what the advertised annuity is.

                          CAN'T WIN IF YOU'RE NOT IN

                          A DOLLAR AND A DREAM (OR $2)

                            Unluckyone's avatar - lib
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                            Gotta admit you were right. Annuity is $280 million. The cash is about 73%, which is higher than previous. It is the cash value that determines the annuity. That's why I never really pay attention to what the advertised annuity is.

                            Thumbs Up

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                              The annuity at draw time was $270.3 million so $280 million is almost a $10 million increase.-weshar75

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