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Powerball now behind on cash

dvdiva's avatar - 8ball

195 vs. 162 but Mega is offering 2 million more in cash at 93 million. Shows what backloaded annuities do.

 Results and cash amounts off www.usamega.com

Dream's avatar - dragon1

I stopped paying attention at the annuity a while ago. Why not make it like Euro Millions?Why is everything made only to deceive people? Advertised $195M, but you only get 1/3 when you get down to business. Same thing as read the bottom line

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I stopped paying attention at the annuity a while ago. Why not make it like Euro Millions?Why is everything made only to deceive people? Advertised $195M, but you only get 1/3 when you get down to business. Same thing as read the bottom line

People should not pay attention to the annuity values, which are all marketing.

Even if one intends to take the annuity for whatever reason, the measure of true value is the cash. 

 

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Yeah, maybe if players stopped paying attention to the annuity values and actually PLANNED on how to invest their money, all lotteries will drop the annuity crap, or at least Powerball's capped jackpots will apply to cash value instead of annuity (I actually suggested that to the MUSL but they said that while it is more logical to apply the cap to the cash they'd have too difficult a time explaining it to the players, many of whom are stupid enough to believe the cash value is the advertised jackpot after taxes!!). According to Powerball's FAQ page, the reason lotteries have annuities is so the winners won't have to worry about investing their winnings.

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Yeah, maybe if players stopped paying attention to the annuity values and actually PLANNED on how to invest their money, all lotteries will drop the annuity crap, or at least Powerball's capped jackpots will apply to cash value instead of annuity (I actually suggested that to the MUSL but they said that while it is more logical to apply the cap to the cash they'd have too difficult a time explaining it to the players, many of whom are stupid enough to believe the cash value is the advertised jackpot after taxes!!). According to Powerball's FAQ page, the reason lotteries have annuities is so the winners won't have to worry about investing their winnings.

US lotteries were annuity-only to support companies that would make money off of players' winnings. This corruption still exists, to a smaller degree (mostly in MA and NY).

Dream's avatar - dragon1

Yeah, maybe if players stopped paying attention to the annuity values and actually PLANNED on how to invest their money, all lotteries will drop the annuity crap, or at least Powerball's capped jackpots will apply to cash value instead of annuity (I actually suggested that to the MUSL but they said that while it is more logical to apply the cap to the cash they'd have too difficult a time explaining it to the players, many of whom are stupid enough to believe the cash value is the advertised jackpot after taxes!!). According to Powerball's FAQ page, the reason lotteries have annuities is so the winners won't have to worry about investing their winnings.

With big jackpots these days you still have to worry about investing even after choosing annuity.

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I agree. When PB is at the cap, they should increase the cash value only. I hope PB continues to roll.

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Maybe when more players get smarter the MUSL will apply the cap to the cash value instead of the annuity. The games should be looked at as cash jackpot games, with the option of having the lotteries invest the winnings, instead of annuity jackpot games, with cash options. Unfortunately, us LP members are in the very small minority of lottery players, especially those of Powerball and Mega Millions, and many Powerball states do not even border Mega states, so players may not even care about the noncomparability of the two annuities.

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Right now, PB has the highest annunity jackpot. However, they're offering 101 million versus 107 million in cash value for MM. I think MUSL should apply the cap at cash value.

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