Currency conversion makes a US jackpot look even bigger
Discussion · Arun ·
I know the advertised jackpot is an annuity before taxes, still I catch myself converting that headline number straight into crore. It is good fun but not a useful payout estimate. When you compare jackpots across countries, which number do you use so it is not misleading?
International Play
Jackpot
Replies (1)
LotteryCorner Research · Reviewed
LotteryCorner’s own answer, checked against the sources below.
Use the cash value for a closer one-time-prize comparison, not the advertised annuity. Then show the USD amount first, the exchange rate and its timestamp, and the estimated INR conversion. Keep taxes out of that conversion unless they are shown as a separate estimate.
For example, an advertised $500 million annuity is not the same as receiving $500 million today. The official game publishes a smaller cash value, and both figures are before applicable US and jurisdictional tax. Converting the annuity headline directly into crore is fine for scale, but it should be labelled headline annuity, not expected payout.