United States
Member #21,573
September 11, 2005
141 Posts
Offline
Not quite...."DIVA"
MM has a "LIABILITY CAP"....
Read on.....
Should total prize liability,exclusive of Grand/Jackpot Prize rollover from previousdrawings and California Lottery sales and prizes for prize levels 2 through 9, exceed 300% of draw sales or 50% of draw sales plus $50,000,000, whichever is less, (both hereinafter referred to as the "Liability Cap"), the Second through Fifth prizes shall be paid on a pari-mutuel rather than fixed prize basis, provided, however, that in no event shall the pari-mutuel prize be greater than the fixed prize. The amount to be used for the allocation of such pari-mutuel prizes shall be the Liability Cap less the amount paid for the Grand/Jackpot Prize and prize levels Six through Nine.
Ypsilanti, MI United States
Member #15,733
May 20, 2005
217 Posts
Offline
Not quite...."DIVA"
MM has a "LIABILITY CAP"....
Read on.....
Should total prize liability,exclusive of Grand/Jackpot Prize rollover from previousdrawings and California Lottery sales and prizes for prize levels 2 through 9, exceed 300% of draw sales or 50% of draw sales plus $50,000,000, whichever is less, (both hereinafter referred to as the "Liability Cap"), the Second through Fifth prizes shall be paid on a pari-mutuel rather than fixed prize basis, provided, however, that in no event shall the pari-mutuel prize be greater than the fixed prize. The amount to be used for the allocation of such pari-mutuel prizes shall be the Liability Cap less the amount paid for the Grand/Jackpot Prize and prize levels Six through Nine.
I think what diva meant is that there is no "$25M Max rollover." But I have read that too... Interesting:
JP: $12,000,000
Draw Sales (Avg): $6,200,000
300% of Sales: $18,600,000 (obviously the lesser amount)
$18,600,000 : Liability Cap
Example #'s drawn: 05-06-07-08-09 MB: 10
5+0: 100 winners (maybe the fortune cookie thing again) = $25,000,000 (exceeds cap right there)
4+1: 1000 winners
4+0: 1500 winners
3+1: 3000 winners
3+0: 15000 winners
6th-9th prize Total prizes paid: $2,600,000
Pari-mutuel amount to use: $16,000,000
In this example, the match 5 winners would get about $20,481 each (based on prize fund levels found at illinoislottery.com). THIS is MM's weak point.
United States
Member #2,338
September 17, 2003
2,063 Posts
Offline
Powerball also has a liability cap. Better read those state rules closer. In Oregon if someone wheeled all the Powerballs (for a total of $42) and played them with Powerplay you would NOT win 41 million if the X5 came up. The cap is 25 and could be even less.
Whitwell, TN United States
Member #5,461
July 5, 2004
56 Posts
Offline
Everyone is caught up in PB and no one has really paid much attention to MM. I have been paying attention though I buy my $3.00 on Thursday and Tuesday.
Morrison, IL United States
Member #4,657
May 13, 2004
1,885 Posts
Offline
All fixed prize lottery games have some sort of prize liability cap. It's just that in the case of PB and MM, it's unlikely they'll ever bust, as neither of them have ever to date.
