| Posted: October 7, 2009, 1:22 pm - IP Logged | |
this isnt exactly how it works but its close
state takes in $100m in ticket purchases
assigns %60 or 60 mill in prize money
divides it into brackets for ea prize pool
20% top = 12m
30% middle= 18m
50% lower. =30m
top prize in this instance would be $12 mill, if its annuity they buy state mutual bonds and the payout is paid annually so taxes get taken out the yearly payment.
say %1 interest on bonds, = 120k a year for 25 years,
an optimist says, " the glass is half full. " a pessimist says, " That glass will break there. "
feb 2012 lotto profit and [loss]
mon/ lotto [4.40] tue/oz lotto [4.20] wed/ lotto [4.75] 32.15 thur/ power ball[4.20] sat/ lotto [12.90] sat /pools [6.60] 8.10 keno [21] 22 scratchers [0] 4
jan [loss] profit [171.90] 49.25
