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N.C. man claims $141M Powerball lottery jackpot

Topic closed. 36 replies. Last post 7 years ago by Guru101.

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time*treat's avatar - radar

United States
Member #13130
March 30, 2005
2171 Posts
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Posted: February 16, 2010, 9:42 am - IP Logged

A man wins $141M and gets only $47M?? Dont get me wrong, that 47 number is still more loot than what 95% of of US citizens have but still.

I wish they change the way they advertise the jackpots and just say something like "Fridays megamillions jack pot is $47M"

Maybe I need a cold beer ha ha ha

Some folks don't play unless the advertised jackpot is above $100 million. To get them to part with those dollars, the larger of the two numbers will be promoted. Full disclosure in advertising? That'd be like letting you take home your entire pay check all year and then presenting you with your entire tax bill all at once. Far better (for them) to take your money over to course of the year. Look at all the people who cheerfully await their "refund". Crazy

There's a reason so many prices end in $X.95 (and fractions of a cent, at gas pumps) Green laugh

In neo-conned Amerika, bank robs you.
Alcohol, Tobacco, and Firearms should be the name of a convenience store, not a govnoment agency.

    Raven62's avatar - binary
    New Jersey
    United States
    Member #17843
    June 28, 2005
    49784 Posts
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    Posted: February 28, 2010, 10:22 am - IP Logged

    If you look .... that is $47 Million out of the CASH option.

    The $141 Million is the Anuity.

    Why do people make this so complicated.

    They DO advertise the Cash Value !!!!!!!!!!!!!!!

    Hit With Stick

    I Agree! It boils down to the Time Value of Money:

    The Time Value of Money is the value of money figuring in a given amount of interest earned over a given amount of time.

    A mind once stretched by a new idea never returns to its original dimensions!

      Avatar
      San Diego, CA
      United States
      Member #58386
      February 12, 2008
      287 Posts
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      Posted: February 28, 2010, 3:17 pm - IP Logged

      Why even advertise an anuity amount?  Doesn't it make more sense to advertise the amount a winner will recive in one lump sum at the time of of the drawing?

      Why don't they put the cash value in big numbers and the annuity amount below in small letters?  It is misleading.  Looking up the definition of FALSE in the dictionary, one of the definitions is " c : intended or tending to mislead "

       

      IT IS FALSE ADVERTISING

        Guru101's avatar - rw6jhh
        Indiana
        United States
        Member #48725
        January 7, 2007
        1953 Posts
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        Posted: February 28, 2010, 10:30 pm - IP Logged

        Why even advertise an anuity amount?  Doesn't it make more sense to advertise the amount a winner will recive in one lump sum at the time of of the drawing?

        Why don't they put the cash value in big numbers and the annuity amount below in small letters?  It is misleading.  Looking up the definition of FALSE in the dictionary, one of the definitions is " c : intended or tending to mislead "

         

        IT IS FALSE ADVERTISING

        It's not false advertising because the prize itself is an annuity OR lump sum, whichever the winner chooses. This is stated in the rules of the game which the player is responsible for reading, although a lot of people don't bother reading the rules of jackpot games such as Powerball, Mega Millions, or Lotto. They just see the jackpot amount, want it, and buy tickets for it. Whether or not they were unaware the advertised was an annuity not is their responsibility.

        I'll say what I've said before: Annuities are nothing new. They've been around for a long time. They are the amount that's advertised. It should be expected by now. If people aren't going to research what they're getting involved in, then they shouldn't be participating in it. Don't play the lottery. Of course, we both know that's not going to happen because, hey, if they win, even if the cash value is 50% of the annuity, they still know it's a ton of money. I'm sure they'll gladly take it.

        I'm not going to get involved in horse race betting when it's something I've never done before without reading the rules of the game, wager options, prize payouts, etc. Same thing with poker. Why would someone buy into a poker tournament if they've never played before and don't even understand hand rankings? No research whatsoever.

        Gonna win.Big Smile

          rdgrnr's avatar - walt
          Way back up in them dadgum hills, son!
          United States
          Member #73904
          April 28, 2009
          14903 Posts
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          Posted: February 28, 2010, 11:02 pm - IP Logged

          Some folks don't play unless the advertised jackpot is above $100 million. To get them to part with those dollars, the larger of the two numbers will be promoted. Full disclosure in advertising? That'd be like letting you take home your entire pay check all year and then presenting you with your entire tax bill all at once. Far better (for them) to take your money over to course of the year. Look at all the people who cheerfully await their "refund". Crazy

          There's a reason so many prices end in $X.95 (and fractions of a cent, at gas pumps) Green laugh

          But if you act right now we'll double your order and send you six pants extender buttons all for just $19.95! (just pay extra shipping)


                                                       
                               
                                                   

           

           

           

           

                                                                                                             

          "The only thing necessary for evil to triumph is for good men to do nothing"

                                                                                                      --Edmund Burke

           

           

            Avatar
            San Diego, CA
            United States
            Member #58386
            February 12, 2008
            287 Posts
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            Posted: March 1, 2010, 12:04 pm - IP Logged

            It's not false advertising because the prize itself is an annuity OR lump sum, whichever the winner chooses. This is stated in the rules of the game which the player is responsible for reading, although a lot of people don't bother reading the rules of jackpot games such as Powerball, Mega Millions, or Lotto. They just see the jackpot amount, want it, and buy tickets for it. Whether or not they were unaware the advertised was an annuity not is their responsibility.

            I'll say what I've said before: Annuities are nothing new. They've been around for a long time. They are the amount that's advertised. It should be expected by now. If people aren't going to research what they're getting involved in, then they shouldn't be participating in it. Don't play the lottery. Of course, we both know that's not going to happen because, hey, if they win, even if the cash value is 50% of the annuity, they still know it's a ton of money. I'm sure they'll gladly take it.

            I'm not going to get involved in horse race betting when it's something I've never done before without reading the rules of the game, wager options, prize payouts, etc. Same thing with poker. Why would someone buy into a poker tournament if they've never played before and don't even understand hand rankings? No research whatsoever.

            Why is it even necessary to offer an annuity?  What is the purpose of offering one?

              Guru101's avatar - rw6jhh
              Indiana
              United States
              Member #48725
              January 7, 2007
              1953 Posts
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              Posted: March 1, 2010, 5:08 pm - IP Logged

              Why is it even necessary to offer an annuity?  What is the purpose of offering one?

              Having an annuity gives the winner an alternative to taking a lump sum payout, which, depending on the winner, could be beneficial. I'd assume age and manageability are the biggest factors.

              Gonna win.Big Smile