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Mega Millions getting boring

Topic closed. 79 replies. Last post 13 years ago by visiondude.

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Time to change MM already?

No [ 17 ]  [54.84%]
YES [ 14 ]  [45.16%]
Cablevision :) [ 0 ]  [0.00%]
Total Valid Votes [ 31 ]  
Discarded Votes [ 3 ]  

United States
Member #379
June 5, 2002
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Posted: March 29, 2003, 9:27 am - IP Logged
Mega Millions will be a year old in May (when Ohio and NY joined the Big Game group.)

The long jackpot odds and expanded player pool fueled speculation (including on this website) that a $500 million jackpot was inevitable. However, there has yet to be a $200 million MM jackpot (despite a $330+ million Big Game prize the month before MM began.)

I "propose" a new version of Mega Millions to take effect immediately after Labor Day:

**5/55 + 1/49 (longer jackpot odds, but overall chance of winning better); **starting jackpot $15 million; **lengthening the annuity from 26 payments to 30.

    RJOh's avatar - chipmunk
    mid-Ohio
    United States
    Member #9
    March 24, 2001
    19825 Posts
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    Posted: March 29, 2003, 10:04 am - IP Logged

    Any lottery game is boring to the losers, but it's the losers that create the larger jackpots.  Adding more numbers will just create more chances to lose for the losers and the losers will be even more bored when someone wins a even larger jackpot.    The Powerball had a nice jackpot size last Christmas under its new set-up and it's jackpot still climbs faster than the MM jackpot with the better odds.

    RJOh


      United States
      Member #379
      June 5, 2002
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      Posted: March 29, 2003, 10:07 am - IP Logged

      RJ: My proposal has BETTER odds of winning _any_ prize, since there are 49 Mega Balls vs 52. Adding three numbers on the top makes the jackpot odds longer. (There would still be 104 balls.)


        United States
        Member #1047
        January 17, 2003
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        Posted: March 29, 2003, 10:39 am - IP Logged

        CashO Mac,

        I gotta hand it to you.  I kinda like the new format.. 5/55 + 1/49 Mega Ball.  I ABSOLUTELY love the idea of making the annuity payments to 30 from 26 and raising the minimum jackpot.  You know what you're talking about.  I'd add one other thing:  NO LUMPSUM OPTION! like the good old jackpot lottery days.

        You're right on!

        Don't blow all your winnings in one place - Choose Annuity


          United States
          Member #379
          June 5, 2002
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          Posted: March 29, 2003, 10:45 am - IP Logged

          Mega Millions will ALWAYS have a cash option...NOBODY would want the stinkin' annuity!

            rundown99's avatar - cigar

            United States
            Member #567
            August 14, 2002
            482 Posts
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            Posted: March 30, 2003, 5:52 pm - IP Logged

            Whether to take the cash or annuity depends (in my opinion).....

            If the jackpot was within 10  or 14 million for powerball, and the winner was younger than 30 but had no investment experience with that kind of money, then I could understand the move to annuity.  That is probably why Joe and Lili Anderson of Kentucky took the annuity option in June last year even though they could have taken the cash.  Now that I think about it, they are the only ones who took the annuity last year.  Furthermore, there are only three winners who chose the annuity option ever since Powerball offered the cash option in early 1998 (Edith Scrivani on October 31, 1998,  Cindy Grassman on October 31, 1998, and Joe and Lili Anderson on June 19,  2002 ).  But if we are talking about a jackpot larger than 20 million and/or you are over 30 years old, then YOU BETTER TAKE THE CASH !!!! 

            Smart lottery winners form trust to claim their winnings.  They send an attorney to the lottery headquarters to claim the prize in trust, so that ONLY the name of the trust is revealed.  And they tell NO ONE, especially relatives.

            If you ever win a lottery and you are single, the only person you should ever marry is someone who was truly in love with you BEFORE you won the jackpot!

              Todd's avatar - Cylon 2.gif
              Chief Bottle Washer
              New Jersey
              United States
              Member #1
              May 31, 2000
              23261 Posts
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              Posted: March 30, 2003, 6:24 pm - IP Logged
              Quote: O

               

              Check the State Lottery Report Card
              What grade did your lottery earn?

               

              Sign the Petition for True Lottery Drawings
              Help eliminate computerized drawings!


                United States
                Member #379
                June 5, 2002
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                Posted: March 30, 2003, 8:18 pm - IP Logged
                Secret: The Powerball cash option began in November 1997.

                The two who chose annuity in 1998 probably did so under the old IRS rules, when you had to choose WHEN you played, instead of after you won. IIRC, only a short time later, MUSL allowed Powerball winners to decide _after_ they won.

                The Kentucky couple who hit last year may have gotten questionable financial advice. Did they know the details of the annuity (the provider, etc)?

                The amount of the jackpot and/or the player's age shouldn't be a major factor in the decision. An 18-year-old winner probably should choose cash if for no other reason than it's legally their money; you can always get/"shop around for" sound investment advice. Also, some young adults have health problems.

                  megamillionaire's avatar - Sphere animated_small_ neg2.gif
                  Queens, NY
                  United States
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                  April 15, 2002
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                  Posted: March 30, 2003, 8:52 pm - IP Logged

                  Cash, Cash, Cash,Cash, Cash, Cash !!!!!

                  Megamillionaire

                  Time is a wonderful teacher, but it kills all its students.

                  A man must consider what a rich realm he leaves when he becomes a conformist.


                    United States
                    Member #379
                    June 5, 2002
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                    Posted: April 14, 2003, 6:09 am - IP Logged

                    Mega Millions returns 50% to players, while NY Lotto just 40% at most.

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                      United States
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                      December 30, 2002
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                      Posted: April 16, 2003, 10:50 am - IP Logged

                      It is interesting that the jackpots have been hit

                      well below the $500 million levels predicted,

                      but I do not advocate making the absurd odds

                      even more absurd. I think it's better to spread

                      the wealth, and you shouldn't let people who

                      beat the odds make the odds harder for everyone

                      else. Who knows, the odds may even up when the

                      jackpot goes above $500 million.



                      I would take the cash if only because I don't

                      know what shape the world will be in in 2029. I

                      care not a bit about maximizing my investments,

                      but if all my money was frozen because I

                      was sued or got too many parking tickets or

                      whatever they can do to you now, that would hurt...

                      you just never know what awfulness and evil laws

                      awaits and it's best not to have the government's

                      slimy paws on your money for so long. Plus I may

                      need the whole jackpot to buy a mountain

                      to escape the rising seas, or ship it all off

                      to a foreign bank account when I become a

                      disgusted exile trying to escape the police

                      state.


                        United States
                        Member #379
                        June 5, 2002
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                        Posted: April 16, 2003, 12:54 pm - IP Logged
                        I think you CAN make the Mega Millions even harder to win AND make it a more interesting game:

                        add three balls on the top (5/55) but remove three numbers from the bottom (1/49)...longer jackpot odds but ALSO better overall odds

                        keep lower tier prizes as is (perhaps increase second prize to $200,000)

                        lengthen the annuity to 30 payments (almost everyone takes the cash anyway)


                          United States
                          Member #379
                          June 5, 2002
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                          Posted: April 16, 2003, 1:06 pm - IP Logged

                          To my suggestions above, add: start the jackpot at $15 million.

                            NY
                            United States
                            Member #1359
                            April 11, 2003
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                            Posted: April 18, 2003, 7:50 am - IP Logged

                            I like the idea of MM lowering the Jackpot odds to under 100 M.

                             


                              United States
                              Member #379
                              June 5, 2002
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                              Posted: April 18, 2003, 9:37 am - IP Logged
                              Jeeves:

                              Sure, but you virtually kill any chance of a $500 million jackpot.