CA MM Cash Value Less Than Other States?

Reply #6

danisiri — Thu, 08 Sep 2005 06:44:32 GMT

I am interested to see what info 'twisted' gets from the CA lottery commission. As far as I can tell from the CA Lotto website, the annuity is paid out in equal payments, not like the graduated payment structure of CA SLP. So theoretically then, the cash value should be more since the amount invested must return enough to cover the equal value payments. I ran some calculations in Excel to verify the cash value necessary to return an equal payment over 26 years and there is no way for CA to get... [ More ]

Reply #5

twisted — Wed, 07 Sep 2005 22:26:34 GMT

I think the cash value in California is the same as the other MM states. Because I think it will take CA the same amount of cash to pay a $172 million annuity payment paid in 26 payments.Unless CA has the annuity payment structure for MM just like CA Lotto Plus and the new Powerball (which I dont think is the case). I think to make their lives simple, they are saying 40-50 percent for both MM and CA Lotto Plus so there wont be too many questions by regular lottery players who just dont know/car... [ More ]

Reply #4

JAG331 — Wed, 07 Sep 2005 13:43:45 GMT

Wow...that's awful. Now I don't feel quite so bad about NYS taxes.

Reply #3

weshar75 — Wed, 07 Sep 2005 06:05:38 GMT

In the how to play section of the california website it says that the cash value of the jackpot is pari-mutuel and it is roughly 40% to 50% of the advertised annuity jackpot. It is different from the other mega million states.

Reply #2

danisiri — Wed, 07 Sep 2005 04:35:57 GMT

That is my thought too, but I was just curious if someone knew definitely that CA must comply with the same rules for the JP. All the other levels of prizes are pari-mutuel, so I though perhaps CA might have some special spin on the JP too.Of course, the larger the JP, the larger the potential discrepancy becomes

Reply #1

ryanm — Wed, 07 Sep 2005 04:24:48 GMT

Yeah, I think California is just throwing out the 50% of advertised jackpot value. The MM cash value option jackpot is the same for ALL states.

CA MM Cash Value Less Than Other States?

danisiri — Tue, 06 Sep 2005 23:58:35 GMT

I was reading a press release from the CA Lottery commission (http://www.calottery.com/Media/CurrentQuarter/MEDIAADVISORY_09-03.htm) and it stated that the winner of tonight's MM jackpot would receive about $75 million (before tax withholding) if the cash option is chosen. Yet, the USA Mega site shows the cash option as being about $93 million before taxes. Is CA different or are they just flippantly throwing out the 50% of the jackpot value because that is close to what the CA SLP pays on c... [ More ]