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New Florida Lotto playslips a bother to some

Topic locked. Last post 9 months ago by Badger. 34 comments.

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LuckyLilly's avatar - savy chick
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Posted: March 6, 2008, 5:33 pm - IP Logged Bottom

Quick note, Lilly.  That $3 million is about $1.7M cash which after taxes would be around $1.1M.  The extra dollar adds a bonus, but in the form of an annuity.  It's still a lot of money, but I just wanted to clarify that point.  I'm pretty sure you can still take it as a lump sum, but it's nowhere near $10M. Cash payouts for FL Lotto average 55% to 60%. 

Ah well that fact makes it even worse.  LOL  1.1 mil doesn't go far these days. 

NYSlugger 777's avatar - New York Giants
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Posted: March 7, 2008, 12:37 am - IP Logged Bottom Top

Well I guess I can say that if you want to win over 20 mil,just have a little patience.Smile

After consecutive draws and no one hits the jackpot the rollovers will soon push the jackpot past the 25 million dollar mark,then play for $1 per ticket.

Further more , when nobody hits that particular jackpot of lets say about 3 million,the jackpots themselves rolllover and increase(what im saying is you dont have to spend one dollar extra to increase the jackpot it will increase by itself as the rollovers continues).So, when you add the additional dollars to your original bet,you also increase the jackpot prize yet again.Now, this innovative idea has merit, but only if you just play when there is a huge jackpot.And even then only when there is  a low starting jackpot.If you are a regular player, then the additional dollars tacked on to your original wager are waste.All they do is to serve as a "greed tax upon yourself."

mylollipop's avatar - Trek STLOGO6
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Posted: March 7, 2008, 1:14 am - IP Logged Bottom Top

Ah well that fact makes it even worse.  LOL  1.1 mil doesn't go far these days. 

The Official FL Lottery Site indicates that the $2/$3 plays for Lotto can be claimed as cash also.  It seems like I can not post the link.  Anyway, if I did play the new game, I would choose the $2/$3 option.  After all, that is how I break even in PB playing the PowerPlay.  LOL!

LuckyLilly's avatar - savy chick
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Posted: March 7, 2008, 10:48 am - IP Logged Bottom Top

The Official FL Lottery Site indicates that the $2/$3 plays for Lotto can be claimed as cash also.  It seems like I can not post the link.  Anyway, if I did play the new game, I would choose the $2/$3 option.  After all, that is how I break even in PB playing the PowerPlay.  LOL!

But the lower prizes aren't multiplied in FL Lotto!  Only the jackpot. 

So I'd play $2 until the base jackpot got high enough that a win would ensure a very comfortable life.  For me, that would be around 8 million which I estimate would be around 3 mil after taxes.  When the base jackpot (paid on a $1 ticket) got over that amount I'd drop back to buying the $1 ticket.

JackpotWanna's avatar - squiz
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Posted: March 7, 2008, 6:45 pm - IP Logged Bottom Top

I would be in heavy regret if I won only $3 million when I could have won 15 million with an extra $1 or 28 million with 2 more dollars.   Instead of going to Disney  I will be headin back to Type (work) First the tax man takes their cut. 3 - 1.3 = 1.7 remain.  Then my wife takes her cut.  1.7 - 1.6 = 100,000. lol

Oh well, Good Luck to all who play.

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Posted: March 7, 2008, 10:36 pm - IP Logged Bottom Top

aint that the truth!  But its a lot easier going back to worth with a few hundred thousand in the bank account.  Work isnt so bad then.


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Posted: March 8, 2008, 3:39 pm - IP Logged Bottom Top

Lets see, $2.00 gets you $13 million. $3.00 gets you $28.00.  This confuses the masses?  The scary part, these same people who are confused about a simple lotto ticket are going to decided who is the next President of the United States! Remember the chad? W-O-W !


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Posted: March 8, 2008, 3:41 pm - IP Logged Bottom Top

Lets see, $2.00 gets you $13 million. $3.00 gets you $28.00.  This confuses the masses?  The scary part, these same people who are confused about a simple lotto ticket are going to decided who is the next President of the United States! Remember the chad? W-O-W !

Obviously confused me, meant $3.00 gets you $28 Million.  Either way, I didn't have to take my shoes off to count, just had to take typing lesson.

justxploring's avatar - villiarna
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Posted: March 9, 2008, 1:22 am - IP Logged Bottom Top

The Official FL Lottery Site indicates that the $2/$3 plays for Lotto can be claimed as cash also.  It seems like I can not post the link.  Anyway, if I did play the new game, I would choose the $2/$3 option.  After all, that is how I break even in PB playing the PowerPlay.  LOL!

Yes, mylollipop. Guess I wasn't too clear in my post.  What I meant is that the extra bonus is paid over 30 years, just like the Lotto jackpot.  That doesn't mean you can't opt for a lump sum, but it's the same as when you win any jackpot.  Example: the jackpot for Wed is advertised as $10, $20 or $35 million.  You either are spending $1 for the $10M jackpot, $2 for the $20M jackpot or $3 for the $35M jackpot. All of these jackpots are paid over 30 years.  If you want the cash option, the lump sum value averages 55% of the jackpot (whether it's $10, $20 or $35 million) 

At first it sounded as if the bonus was $10 million on top of the jackpot, which it is, but not a cash prize.  This goes back to the "misleading advertising thread" LOL   The way they are now displaying the jackpot(s) is a lot clearer to me.

The Powerplay is entirely different because it multiplies the lesser prizes.  The new FL bonus does not have any effect on 5/6 or 4/6, just the jackpot.

mylollipop's avatar - Trek STLOGO6
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Posted: March 9, 2008, 3:39 am - IP Logged Bottom Top

Lets see, $2.00 gets you $13 million. $3.00 gets you $28.00.  This confuses the masses?  The scary part, these same people who are confused about a simple lotto ticket are going to decided who is the next President of the United States! Remember the chad? W-O-W !

ROFL and some!  The sad thing is all they have to do is go to the website and it plainly tells you what to play and what you will get for your play!  DUH!  And yes, Justexploring, I realize the PowerPlay is for the lower prizes only.  It feels so good to increase my meagre lower tier winnings.  LOL.  Now maybe if we get a national lottery, the increase the jackpot option would be the seller/the catch, the real hook-up!