|Posted: March 27, 2014, 11:58 am - IP Logged|
Interesting, fwlawrence, but that is merely the "annuity amount," right? Curiously, do you know over how many annual payments this is stretched out?
I would bet that's the cash value being a $50 ticket. In California, we have an advertised $5 million top prize for our $20 ticket. The $5 million is the cash value, no annuity value. For us, the only annuity value on Scratcher tickets are our Lucky for Life series where the prize is a weekly payment though winners may elect to receive a cash option.
That's why all advertised Scratcher jackpot values are not the same and confuses people when comparing tickets from other states. The $15 million prize here on a $30 ticket is probably a $7-$8 million cash prize which is consistent when compared to our $5 million cash prize on our $20.
With the exception of "Lucky for Life" type Scratcher tickets, states should really use cash values to market their Scratcher tickets.