do you consider only the cash value when deciding to buy pb or mm or other jackpot game?Prev TopicNext Topic

• Brock Lee

  

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  May 4, 2023
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  Jun 19, 2024, 2:34 pm

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  personally, i think it's a scam for jackpot games to advertise the top prize by its annuity value. winners always take the cash value, which is usually less than half of what the annuity is.
• Stat$talker

  

  700 light yrs West of Milky Way Galaxy's Center
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  September 1, 2019
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  Jun 20, 2024, 4:35 am

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  In response to Brock Lee

  Quote: Originally posted by Brock Lee on Jun 19, 2024

  personally, i think it's a scam for jackpot games to advertise the top prize by its annuity value. winners always take the cash value, which is usually less than half of what the annuity is.

  "i think it's a scam for jackpot games to advertise the top prize by its annuity value"

  I think it'z a scam for lotteriez to advertise their game'z rezultz are random, when sometimez , it'z NOT.!
• winoneday

  

  Canada
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  April 14, 2014
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  Jun 20, 2024, 7:07 pm

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  The only time I play Powerball or Mega Millions is when it is part of a group. It is the only way to overcome the huge odds of winning.

  Therefore, with group play, the only value that matters is the cash value.
• ddude003

  

  Missouri
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  August 9, 2020
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  Jun 29, 2024, 3:21 pm

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  I usually look at both...  Because code makes it easy...  Not perfectly accurate but close enough...

  29 June 2024

  The current lotto prize amount is $1,300,000

  A single lump sum payment is 50% of the estimated jackpot amount.  The cash value is $650,000

  The Lottery is required to withhold federal taxes of 24% and Mo State Taxes of 4% for U.S. citizens.

  The Fed Tax amount is estimated as $156,000.  The Mo State Tax amount is estimated as $26,000.

  You would get an estimated $468,000

  Here is the 25 Annual Payment Plan for a $1,300,000 Prize.

  Payment Year     Payment Schedule     Annual Payment     Tax at     Annual Payment

  Number               As % Of Jackpot          Before Taxes            24%         After Taxes

  01                          2.5                                  $32,500                    $7,800           $24,700

  02                          2.7                                  $35,100                    $8,424           $26,676

  03                          2.8                                  $36,400                    $8,736           $27,664

  04                          2.9                                  $37,700                    $9,048           $28,652

  05                          3.0                                  $39,000                    $9,360           $29,640

  ...

  22                          4.7                                  $61,100                  $14,664           $46,436

  23                          4.8                                  $62,400                  $14,976           $47,424

  24                          4.9                                  $63,700                  $15,288           $48,412

  25                          5.0                                  $65,000                  $15,600           $49,400

  26                          5.1                                  $66,300                  $15,912           $50,388

  Total                    100                             $1,300,000                $312,000          $988,000
• garyo1954

  

  Texas
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  May 2, 2004
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  Today, 12:40 am

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  I look at CV only due to age (living passed 120 isn't in my bucket list or on bingo card).

  Stranger things and all that rot could thwart that plan though.

  G

  I'm probably here unless I'm not.
  Dreaming would be a perfectly useless function if it's only purpose was to entertain.