| 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,
mon/ lotto [27] 38 tue/oz lotto [] wed/ lotto [ ] thu / power ball[1.65] sat/ lotto [] sat /pools [18.30] keno [112] 66 scratchers [ ]
jan loss [171.90], profit 49.25 ; feb loss [ 125.90 ], profit 168.25 ; march loss [151.25] profit 4 ;april loss [250.90] profit 64
