VIDEO: How are lottery jackpots calculated?

Comment #10

Stat$talker — Mon, 02 May 2022 14:50:11 GMT

Comment #9

rdgrnr — Mon, 02 May 2022 02:08:14 GMT

That's the whole nine yards there, Kate.

Comment #8

haymaker — Sun, 01 May 2022 14:55:00 GMT

Never thought about the C/O being roughly 1/2 the ann. but I do divide the C/O by 2 to roughly figure the taxes I'll pay in Jersey + fed.

Comment #7

Todd — Sat, 30 Apr 2022 15:17:39 GMT

California cannot add Power Play or Megaplier because those options represent fixed prize multipliers, which run contrary to state law that requires all lottery prizes to be paid out in a pari-mutuel formula.

Comment #6

Bleudog101 — Sat, 30 Apr 2022 11:12:59 GMT

Very well presented and learned quite a bit about lotteries.

For one winner in CA it seems due to their pari-mutuel rules, that all secondary prizes sometimes with nice payouts. For instance secondary prize 5 numbers on MM is set @ $5,834,633 which is nice for ONE winner. Grant it doesn't affect me but for the life of me do not comprehend why the CA legislatures don't allow Powerplay and or Megaplier

Comment #5

Mata Garbo — Sat, 30 Apr 2022 08:54:37 GMT

Thank you Kate........I learned more from your 12 minute video than I've learned from 12 years of playing the lottery. You have a great style of presentation. You manage to keep the viewer interested and comfortable, but never bored.

Comment #4

Stack47 — Sat, 30 Apr 2022 02:15:57 GMT

Learned something new!

And nice job

Comment #3

Think — Sat, 30 Apr 2022 00:39:57 GMT

Wow, I did not realize that a lot of people did not know this about the draw games already.

What has me confounded is the changing cash amounts on the scratch tickets. Usually, here, they are paid out by annuity and the cash amount has remained fixed for long periods of time. First $1,000,000 was $654,266 cash then, for the longest time it was $634,517 and recently the payout was increased to about $693,250. I have been reading the winner announcements and they announced a $20 winner as ta... [ More ]

Comment #2

TheMeatman2005 — Fri, 29 Apr 2022 23:43:27 GMT

Thanks Kate

Comment #1

sully16 — Fri, 29 Apr 2022 23:38:23 GMT

Thank you Kate, very informative video.

VIDEO: How are lottery jackpots calculated?

Lottery Post — Fri, 29 Apr 2022 22:00:39 GMT

By Kate Northrop

Mega Millions and Powerball are the two biggest U.S. multi-state lottery games that offer players across the country the largest prizes imaginable, routinely holding the record for the largest jackpots in the world.

But how do these jackpots achieve such historically high figures? What causes the jackpot to grow faster for some drawings? Why is the cash value different than the annuity, and why is it always a different percentage of the annuity? Perhaps you might have e... [ More ]