Pari-Mutuel Prizes Sample Clauses

Pari-Mutuel Prizes. All Prize Amounts. If the total of the original Powerball set prizes and the multiplied Power Play set prizes awarded in a drawing exceeds the percentage of the prize pools allocated to the set prizes, then the amount needed to fund the set prizes (including the multiplied set prizes) awarded shall be drawn from the following sources, in the following order: (i) the amount allocated to the set prizes and carried forward from previous draws, if any; (ii) an amount from the Powerball Set-Prize Reserve Account, if available in the account, not to exceed twenty-five million dollars ($25,000,000) per drawing. If, after these sources are depleted, there are not sufficient funds to pay the set prizes awarded (including multiplied prizes), then the highest set prize (including the multiplied prizes) shall become a pari-mutuel prize. If the amount of the highest set prize, when paid on a pari-mutuel basis, drops to or below the next highest set prize and there are still not sufficient funds to pay the remaining set prizes awarded, then the next highest set prize, including the multiplied prize, shall become a pari-mutuel prize. This procedure shall continue down through all set prizes levels, if necessary, until all set prize levels become pari-mutuel prize levels. In that instance, the money available from the funding sources listed in this rule shall be divided among the winning plays in proportion to their respective prize percentages. In rare instances, where the Powerball set prize amount may be funded but the money available to pay the full multiplier may not be available due to an unanticipated number of winners, the Group may announce pari-mutuel shares of the available pool for the Power Play payment only. Amended August 20, 2008.
Sample 1
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Pari-Mutuel Prizes. All Prize Amounts. If the total of the original Mega Millions set prizes and the Megaplier set prizes awarded in a drawing exceeds the percentage of the prize pools allocated, then the amount needed to fund the set prizes (including the Megaplier prize amounts) awarded shall be drawn from the following sources, in the following order: (i) the amount allocated to the set prizes and carried forward from previous draws, if any; (ii) an amount from the Mega Millions reserve accounts not to exceed the lesser of 300% of draw sales or 50% of draw sales plus $50 million. If, after these sources are depleted, there are not sufficient funds to pay the set prizes awarded (including Megaplier prize amounts), then the prize levels two through five shall become a pari-mutuel prize, as set out in Rule 28.3(c). The Mega Millions and Megaplier prize pools shall be combined in the rare instance when the set prizes, pursuant to the rules, are paid on a pari-mutuel basis, so that the multipliers, as provided for in the rules, will remain in effect for all applicable prize levels. The Match 5+0 prizes may be reduced as announced by the Mega Millions Product Group. Amended September 21, 2010 to be effective December 1, 2010.
Sample 1

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