The largest Mega Millions jackpot, advertised as $640 million at the time of the drawing (annuitized) or $462 million (cash value), was drawn on March 30, 2012. The initial estimate for that drawing (following the March 27 drawing, which was $363 million annuity) was $476 million (later increased to $500 million and again to $540 million); brisk ticket sales pushed the jackpot values, both annuitized (to $656 million) and the cash option ($474 million) higher. The amount spent on Mega Millions for drawings following its previous jackpot win, on January 24, 2012, was at least $1.5 billion. three jackpot-winning tickets had been confirmed (Illinois, Kansas, and Maryland).
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A Powerball jackpot winner may choose to receive their prize in 30 payments over 29 years or a lump-sum payment. The cash value option, in general, is the amount of money required to be in the jackpot prize pool, on the day of the drawing, to fund the estimated jackpot annuity prize. The advertised jackpot annuity and cash value are estimates until ticket sales are final, and for the annuity, until the Multi-State Lottery Association takes bids on the purchase of securities.
Since the secondary prizes are defined in fixed amounts (except in California), if the liability for a given prize level exceed the funds in the prize pool for that level the amount of the prize may be reduced and the prize pool be distributed on a parimutuel basis and result in a prize lower than the fixed amounts given in the prize tables. Because the secondary prize pools are calculated independently, it is possible lower-tier prizes will differ among the game members.
Two identical machines are used for each drawing, randomly selected from four sets. The model of machine used is the Halogen, manufactured by Smartplay International of Edgewater Park, New Jersey. There are eight ball sets (four of each color); one set of each color is randomly selected before a drawing. The balls are mixed by a turntable at the bottom of the machine that propels the balls around the chamber. When the machine selects a ball, the turntable slows to catch it, sends it up the shaft, and then down the rail to the display.
The American Powerball,known as "Lotto America" made it debut way back in 1988, which makes it one of the oldest Lottery games around today. In 1992 they changed the name to the Powerball lottery, with the first official Powerball draw being held on April 19th, 1992. The game has grown and evolved over the years now totalling 44 States and various changes being applied to the ball and prize structure from the game back in 1988. These include a change in the annuity prize payments from 20 yearly payments to 30, and the addition of a cash option for the jackpot as the jackpot is massive averaging around $100 million.
Power Play, when it began in 2001, was drawn with a special wheel. In 2006 and 2007, MUSL replaced one of the 5× spaces on the Power Play wheel with a 10×. During each month-long promotion, MUSL guaranteed that there would be at least one drawing with a 10× multiplier. The promotion returned in 2008; the ball landed in the 10× space twice. After being absent in 2009, the 10× multiplier returned in May 2010 (after the Power Play drawing was changed to RNG.) The promotion was extended for the only time, as the 10× multiplier was not drawn until June 12. The second prize 5× guarantee continued; the 10× applied to all non-jackpot prizes, as in previous promotions.
The annuity factor, or the cost to fund an annuity prize, is another key component. The annuity factor is made up of interest rates for securities purchased to fund prize payments. The higher the interest rates, the higher the advertised Grand Prize. You might not realize that an economic reality like interest rates impact even the Powerball jackpot, but they do!
Lottoland is a bookmaker, and not a lottery operator. You cannot purchase entries in any lottery via Lottoland. Lottoland allows you to bet on the outcome of lotteries from around the world. The website is operated by Lottoland. Lottoland has no relationship or affiliation with the operators of the lotteries. Bets do not contribute to the prize pool. Payouts are made in AUD, exchange rates apply.
When you win a Mega Millions prize on theLotter you will receive an automated email (or SMS) to let you know you’ve won! Prizes will be transferred directly into your theLotter account after the results are published and soon after the receipt of the prize from the official lottery operator. Please note, the jackpot and second place prizes may need to be collected in person. In these cases, theLotter will pay for your flight to the US! Like other American lottery winnings, Mega Millions prizes are subject to US State and Federal taxes.
The US Powerball game, arguably one of the most popular and widely-played games in the United States, is a shared jackpot game which is co-ordinated by an NPO formed by an agreement between the various state lotteries. The US Powerball game has become renowned for its impressive $40 million starting jackpot, with the potential of yielding nine-figure jackpot wins.
When the Powerball jackpot is won, the next jackpot is guaranteed to be $40 million (annuity). If a jackpot is not won, the minimum rollover is $10 million. The cash in the jackpot pool is guaranteed to be the current value of the annuity. If revenue from ticket sales falls below expectations, game members must contribute additional funds to the jackpot pool to cover the shortage; the most likely scenario where this can occur is if the jackpot is won in consecutive drawings.
Once your ticket is purchased, scanned and uploaded into your account that ticket is yours. Legally and in every other sense possible. The same questions always pop up at this stage of the explanation to new time online lottery players and these doubts can be best explained in further detail in the article on the Iraqi Lottery winner but the gist of it is as follows: