If I win the Powerball/Mega Millions...

Discussion in 'Everything Else' started by Krangthebrain, Jul 2, 2003.

  1. Brian in Mesa

    Brian in Mesa BIM™ Contributor

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    Michael Fillmore. :eek:
     
  2. Brian in Mesa

    Brian in Mesa BIM™ Contributor

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    Why is the jackpot at an all-time high? Why are people everywhere scrambling to buy tickets?

    This little story from last October may have something to do with it...

    Odds are, you won't like this Powerball story

    http://www.usatoday.com/story/news/...-you-wont-like-this-powerball-story/29799555/

    ALBANY, N.Y. — Here's the bad news: It will soon be more difficult to win Powerball.

    And the good news? You'll have a better chance of winning a smaller prize.

    The 36 states that participate in the multi-state lottery are making it harder to win the top prize, but increasing the odds of winning any money.

    So the odds of winning the jackpot — which was a record $590.5 million in 2013 — will increase to 1 in 292,201,338, up from 1 in 175,223,510.

    The odds of winning $4? That will improve from 1 in 111 to 1 in 92. The new rules will take effect for the Oct. 7 drawing.

    "The rules change is intended to increase the odds of winning any prize, while making it more difficult to win the jackpot prize," the state Gaming Commission said in a memo to board members.

    At its board meeting Monday, the state Gaming Commission approved the changes, saying the modifications will make the game more sustainable. So the percentage of money that goes to the top prize will drop from 68% to 64%, while the percentage going to smaller prizes will increase.

    Robert Williams, executive director of the state Gaming Commission, said the new odds are scheduled to launch nationwide on Oct. 4 for the Oct. 7 Powerball drawing.

    "The proposed rule is intended to increase the odds of winning any prize while decreasing the odds to win the jackpot," Williams said.

    The move is aimed at boosting jackpots as sales have slumped since 2013, the last huge payout. Overall, the chances of winning a prize will improve from from about 1 in 32 to 1 in 25.

    "Without these rules changes, the (Lottery) Division would need to remove the Powerball game from its portfolio of offerings and aid to education would be negatively affected," the Gaming Commission memo said.

    In Powerball, players select five numbers from one set and one number from a second set. A ticket costs $2.

    The rules change will increase first set of numbers from from 59 to 69, while decreasing the size of the second set of numbers from 35 to 26. The set prize amount for the third-level prize will increase from $10,000 to $50,000.

    Powerball sales declined nationally by 19% last year because there was no huge jackpot. The same was true for the drop in Mega Millions sales, the other multi-state lottery, New York officials said.
     
  3. LoyaltyisaCurse

    LoyaltyisaCurse Chad's got nothing on me!

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    :biglaugh:
     
  4. LoyaltyisaCurse

    LoyaltyisaCurse Chad's got nothing on me!

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    Time value of money, my friend...
     
  5. Brian in Mesa

    Brian in Mesa BIM™ Contributor

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    Yep. You get less initially, but you can make more if you invest it properly. Also, you deal with known tax numbers rather than future tax numbers which could change/increase over the years.
     
  6. Covert Rain

    Covert Rain Father smelt of elderberries!

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    Have you guys seen this meme? Despite the horrible math skills of the person who created it......I would be down for generosity equaling a cup of java.
     

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  7. BigRedRage

    BigRedRage badass Contributor

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    Nothing worse than Meme that have incorrect math or misspelled words on them. Point made fail.
     
  8. Hollywood

    Hollywood is part black.

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    Time is running out to get your tickets.

    This was sent from my cell pjone so please excise any typeos or other errors.
     
  9. FArting

    FArting Lopes Up!

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    There were 3 winners

    California
    Florida
    Tennessee
     
    Last edited: Jan 14, 2016
  10. Hollywood

    Hollywood is part black.

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    I was really hoping it would be someone from Arizona. Me of course but if not me than SOMEONE from Arizona.

    This was sent from my cell pjone so please excise any typeos or other errors.
     
  11. Brian in Mesa

    Brian in Mesa BIM™ Contributor

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    Still could be. The reports are only about where the ticket was sold.

    One of the huge jackpots in the past was sold in Fountain Hills, but the person that purchased it was on vacation from Iowa or some other state.

    There is still hope. LOL
     
  12. FArting

    FArting Lopes Up!

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    I won 4.00 I got the powerball number.

    :fans:
     
  13. Brian in Mesa

    Brian in Mesa BIM™ Contributor

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    $348 million tonight.

    :3amigos:
     
  14. Brian in Mesa

    Brian in Mesa BIM™ Contributor

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    A ticket sold in New Jersey matched all six numbers in Saturday’s Powerball drawing, officials said. The winning numbers were 5, 25, 26, 44, 66 with a Powerball of 9.
     
  15. Brian in Mesa

    Brian in Mesa BIM™ Contributor

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    US Powerball jackpot grows to $403 million, tenth largest ever

    http://www.cnbc.com/2017/02/22/us-powerball-jackpot-grows-to-403-million-tenth-largest-ever.html

    The jackpot in the U.S. lottery Powerball grew to $403 million before the drawing on Wednesday, making it the 10th largest in the game's history.

    The drawing is scheduled for 10:59 p.m. ET on Wednesday. The winner will get annual payments over 29 years, totaling $403 million, or $243.9 million in a lump sum payment, before taxes.

    The last time a winning ticket in the jackpot was sold was on Dec. 17. The odds of winning the jackpot is 1 in 292,201,338

    Powerball's jackpot swelled to a record $1.6 billion in January 2016, when three winning tickets were sold in Florida, California, and Tennessee. The game and a second major U.S. lottery, Mega Millions, have exceeded $400 million only a few other times.

     
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