Mass. lottery winners cash in on new prize law

Comment #14

CASH Only — Wed, 04 May 2005 13:37:45 GMT

Questionable indeed.

Comment #13

heal3r — Tue, 03 May 2005 20:06:35 GMT

A lot of people win in MA. Maybe more than anywhere else. They might not have it all right, but they have a lot of winners. Over 200 lottery winners have cashed in/out with third parties since the new law was passed in December. An expensive and questionable service but a popular one it seems.

Comment #12

LOTTOMIKE — Sat, 23 Apr 2005 08:22:46 GMT

new prize laws are good sometimes.....

Comment #11

CASH Only — Wed, 13 Apr 2005 14:45:33 GMT

tg:Mass Millions had a minimum jackpot of 50k/20 years.

Comment #10

tg636 — Wed, 13 Apr 2005 13:07:58 GMT

The thing that bothers me is that the MA lottery will issue checks to persons other than the winner - they are colluding with questionable banking companies in the ripping off of winners. I would rather have them just stick to the rules as is, as lousy as they are, than make up another lousy rule like this. >She said the lump-sum option, which would have to be disclosed, isn't big enough to attract the bettors needed to make the lottery a success.I think this statement is a total lie, and I ask... [ More ]

Comment #9

dvdiva — Mon, 11 Apr 2005 23:39:01 GMT

Good thing I don't live in MA. That would really tick me off. People living there shoud try and complain but I'm sure there are sleezy dealings between the annuity company and people in the lottery commision.

Comment #8

JimmySand9 — Mon, 11 Apr 2005 20:31:41 GMT

Quote: Originally posted by CASH Only on April 11, 2005 Jimmy:OT: NY Lotto pays 38%-40%.CashONLY:I Know

Comment #7

CASH Only — Mon, 11 Apr 2005 20:11:42 GMT

tg:I'm now predicting HL will be replaced by next year with another jackpot game.

Comment #6

tg636 — Mon, 11 Apr 2005 20:08:20 GMT

If I got up to NH often enough to get a ticket, I would play it. Hot Lotto is a game where they get it right - decent odds of winning something, cash option, good size jackpot. Quote: Originally posted by CASH Only on April 11, 2005tg:I've been boycotting Mass Megais bad$ and its annuity-only (and NY a-o) scratch games.Support Hot Lotto in New Hampshire.

Comment #5

CASH Only — Mon, 11 Apr 2005 19:32:27 GMT

Jimmy:OT: NY Lotto pays 38%-40%.

Comment #4

JimmySand9 — Mon, 11 Apr 2005 19:25:27 GMT

Quote: Originally posted by qutgnt on April 11, 2005 So basically its only worth it for the lottery if they can manipulate and lie. They dont steal enough by having payback %'s of 50%? It is disgusting. So in Mass between no lump sum, having to pay taxes , and having to pay an outside company to sell your annuity, your packback % is like 25%. I would rather give money to a charity. Why anyone plays the lottery (myself included) is beyond me.Cash WinFall and Numbers pays 60%. Mass Cash pays about... [ More ]

Comment #3

CASH Only — Mon, 11 Apr 2005 18:20:47 GMT

tg:I've been boycotting Mass Megais bad$ and its annuity-only (and NY a-o) scratch games.Support Hot Lotto in New Hampshire.

Comment #2

tg636 — Mon, 11 Apr 2005 18:13:46 GMT

Man, this is slimy, even for Massachusetts. Instead of just giving the winners the money they WON, money that is sitting in STATE controlled accounts, they let them deal with shady private buyout companies to get THEIR MONEY. >Some lottery winners say it's not fair that they have to pay a private company hundreds of thousands of dollars to gain immediate access to their own prizes.No, it is not fair. But welcome to Chinatown, I mean Massachusetts.>Lottery officials say they don't offer winners t... [ More ]

Comment #1

qutgnt — Mon, 11 Apr 2005 16:57:28 GMT

So basically its only worth it for the lottery if they can manipulate and lie. They dont steal enough by having payback %'s of 50%? It is disgusting. So in Mass between no lump sum, having to pay taxes , and having to pay an outside company to sell your annuity, your packback % is like 25%. I would rather give money to a charity. Why anyone plays the lottery (myself included) is beyond me.

Mass. lottery winners cash in on new prize law

Lottery Post — Mon, 11 Apr 2005 16:21:00 GMT

Massachusetts lottery winners are rushing to cash in on a recent change in state law that allows them to negotiate with private companies for a lump-sum buyout of all or a portion of their 20-year income stream.Since November, when the change in the law took effect, nearly 270 lottery winners have made the decision to give up a chunk of their future prize payments in return for a lump sum that can be used for such immediate needs as buying a new house or paying off existing loans and debts.But n... [ More ]