Why is the cash option always a different percentage of the annuity from draw to draw?
If you’re calculating what percentage the cash value is of the annuity, then you’re looking at it backwards. The cash value is the starting point, as it is a direct percentage of ticket sales. Then the annuity amount is calculated from that, based on prevailing interest rates. Since the interest rates are constantly changing, the annuity amount calculated on one day will be a different number than if it is calculated the next day. So when a drawing occurs and the lottery has to estimate the next annuity jackpot, they first estimate the number of tickets that will be sold for the next drawing, which determines what the cash value estimate is (because a fixed percentage of each ticket sold goes toward prizes). Then they finally calculate what the annuity will be based on the current interest rates.
Just the Jackpot
In October 2017, the game ‘Just the Jackpot’ was introduced, giving players two chances at winning the Mega Millions jackpot prize for the price of $3. Players who choose the Just the Jackpot wager will only be eligible to win the jackpot prize, so they are only eligible for one of the nine tiers. Players cannot claim prizes in any of the other eight prize tiers, which range from $2 to $1 million.
To enter Just the Jackpot, players can simply pick up a play slip from an authorized retailer and select their preferred numbers. In certain states, such as Wisconsin, players’ numbers will be generated by the terminal.
For more information, players can ask their local lottery retailer or they can also contact their nearest lottery office.