Tennessee lottery winner sues state

Comment #19

CASH Only — Mon, 20 Feb 2006 17:20:35 GMT

You don't want to win a Lose for Life game. Unless it's WA Lucky for Life, whose scratch game has a $750,000 cash option in lieu of $1000 per week.

Comment #18

Chewie — Sun, 19 Feb 2006 13:45:26 GMT

She was playing a scratch off - no choice. Weeeeell, there was a choice. Don't play at all. But thats no fun! You have a better chance winning a scratch off then a PB/MM anyway. Just don't win as much. I would settle for a $5K a week win for life. That added to my military retirement, my 401K, and my soon to be Social Security, would be most welcome

Comment #17

CASH Only — Sat, 18 Feb 2006 19:29:42 GMT

Is she playing Powerball? Good thing it has a cash option

Comment #16

CASH Only — Fri, 17 Feb 2006 19:34:50 GMT

Hopefully she regrets playing a game that does not pay off in lump sum.

Comment #15

LOTTOMIKE — Thu, 16 Feb 2006 11:38:06 GMT

she'll regret it later....

Comment #14

Chewie — Thu, 16 Feb 2006 00:28:22 GMT

Too bad she doesn't have any firends looking out for her. Makes you wonder why she doesn't have some one to guide her. Luckily I have some GOOD friends who have no problem slapping the back of my head

Comment #13

Littleoldlady — Thu, 16 Feb 2006 00:21:25 GMT

She should have gotten a financial advisor first..but people from these parts only think lawyer, lawyer, lawyer..when he finishes ..she won't have squat..probably the reason for only 10 years worth is by the time they finish with her, that is all she'll have left.

Comment #12

JAP69 — Thu, 16 Feb 2006 00:12:39 GMT

And a one time big Federal income tax is going to come out of the big check too.

I would think a financial advisor would have been the one to see first to figure it out.

How much the lawyers gonna get too.

Comment #11

Chewie — Wed, 15 Feb 2006 23:57:33 GMT

OR - might still be the reason. Be positive! Not everyone speaks like a politician.

Comment #10

tg636 — Wed, 15 Feb 2006 21:41:00 GMT

She *says* that is the reason, but after she gets the money it might be a different story.

Comment #9

Chewie — Wed, 15 Feb 2006 19:39:47 GMT

Her rational is: Newberry is asking the Davidson County Chancery Court to allow her to transfer half her payments, or 10 years worth, to Prosperity Partners Inc. of Lake Park, Fla. That would give her about $500,000 in cash to buy a house equipped to accommodate the unfortunate disability of her son and fit her home for his long-term use, the suit states.

Pretty good reason. If there are other ways, she choose the one that works for her. Remember, money doesn't make you smarter.

Comment #8

tg636 — Wed, 15 Feb 2006 14:52:03 GMT

I guess I said that because happy winners usually don't sue the lottery, they just cash their checks. I agree, it is puzzling. What she says and what she actually does with the money may be two different things. Her willingess to accept the loss of money on the annuity transaction and the loss of money to legal fees are a sign that she urgently needs a pile of cash for some reason, but only she knows exactly what that is.

Comment #7

starchild_45 — Tue, 14 Feb 2006 21:58:30 GMT

just in case there are any other lotto winners here with an annuity. i can do the same thing for them. plug plug plug. i am a cash flow consultant too.

Comment #6

mylollipop — Tue, 14 Feb 2006 21:20:41 GMT

Yep, it sure is. The state lotto is all cash only. And you know, the jackpot rarely reaches $1,000,000.00

Comment #5

CASH Only — Tue, 14 Feb 2006 21:16:21 GMT

Isn't Louisiana Lotto now all-cash? AFAIK it went from annuity-only to cash only.

Comment #4

KY Floyd — Tue, 14 Feb 2006 19:26:32 GMT

What makes her a sore winner? Just like most people, she's essentially trying to borrow money against her future income. Why she's trying to do it through the company instead of simply getting a mortgage is puzzling, though. Current rates are low enough that I'm skeptical that she'd get a better deal through the outfit she's using, especially after adding the expense of a lawsuit.

Comment #3

CASH Only — Tue, 14 Feb 2006 18:07:52 GMT

I sure hope TN isn't looking to join the coming numbers game Lose for Life. ALL winners (numbers or scratch; fixed annuity or lifetime) SHOULD have the option of collecting in lump sum.

Comment #2

tg636 — Tue, 14 Feb 2006 17:14:47 GMT

I dislike annuity only winnings, but the rules were posted when she bought the ticket - if you don't accept the rules buy Powerball. I dislike 3rd party payouts even more - why give part of your winnings to shady companies when the state can and should write you a check? I especially dislike sore winners for whom even an extra $52,000 a year isn't enough - how would she have bought a house like that if she didn't win? Count your blessings, lady, think of the caretakers of the disabled who don... [ More ]

Comment #1

mylollipop — Tue, 14 Feb 2006 17:07:41 GMT

Before you play, know the rules. In Louisiana, the state lottery was sued and won because the winner did not want an annuity. Now LA state lottery players have a choice: Lump Sum or Annuity. The starting base for the jackpot and amount it would roll over was lowered and changed after that lawsuit. Might happen in Tennessee---just depends on how their law was written in regards to pay out options for that particular game. IF the game is not what you want, DON'T play it and try to change it... [ More ]

Tennessee lottery winner sues state

Lottery Post — Tue, 14 Feb 2006 16:51:02 GMT

A woman who won a Tennseess Lottery scratch-off ticket worth over $1 million has sued the state for preventing her from assigning some of her winnings to a financial company in return for a lump sum payout.

Like other instant lottery winners, Ethel Newberry of Palmrya wasn't given the option to get the bulk of her winnings in cash up front. Instead, she gets annual payments of about $52,000 a year for a minimum of 20 years.

Newberry is asking the Davidson County Chancery Court to allow he... [ More ]