LANSING, January 12, 1998 – Big Game players in six states now have a big choice to make, and either way they’ll wind up winners!
Starting with wagers placed for the January 15, 1999 Big Game drawing, players will choose between cash option or a traditional annuity of equal installments over 26 years for jackpot winnings. Jackpot winners who select cash option will receive a one-time lump-sum payment for the present cash value of their jackpot share. This amount will equal approximately one-half of the annuitized jackpot, minus federal and state taxes.
In light of Powerball’s recent record jackpot runs approaching $300 million, Big Game participating states sought a way to offer players what they want most: larger jackpots! As a result, The Big Game matrix will change to 5/50 and 1/36 with odds of approximately 1 in 76 million to match all six numbers. This new game matrix should result in frequent jackpot rolls and bigger prize pools.
Jackpots will start at a guaranteed $5 million, and play style remains the same with players choosing numbers from two separate pools: five numbers from one to 50 and one number (the Big Money Ball number) from one to 36. The eight other cash prize levels remain the same, ranging from $1 to $150,000 instantly. The overall odds to win any cash prize will be approximately 1 in 30.8.
For well over a year, the Michigan Lotto game has offered the choice between cash option and annuity for its jackpot winners. Players have clearly expressed their desire for collecting winnings up front, as more than 60 percent of wagers placed are for cash option. The Lottery fully expects to see that same response from Big Game players.
Big Game drawings are conducted every Tuesday and Friday at 11 p.m. Each wager costs $1 and may be placed at more than 6,400 Michigan Lottery on-line retailers statewide. Big Game participating states also include Georgia, Illinois, Maryland, Massachusetts and Virginia.
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