New Florida Lotto playslips a bother to some

Comment #34

Badger — Sat, 22 Mar 2008 20:32:03 GMT

No kidding. Especially since I didn't scan anything in there saying that the extra buck or two would increase any lower tier prize that you could win. It just increases the jackpot, which already has extremely high odds. You'd be better off spending the money on another ticket.

Comment #33

OldSchoolPa — Sat, 22 Mar 2008 15:23:37 GMT

Yahoo! I am going to have my brother buy me an advance draw ticket for the Florida lottery...since I am inconveniencing him to get it for me while he is in the area, I am only going to purchase a $1 advance draw to cover half the year. But let one of my destinations be anywhere in Florida, I will buy the same half year advance draw on a $3 ticket. Why? Because I always play to win and I figure when I win, I would prefer an extra $25 million on top of the base prize amount. Besides, the times I l... [ More ]

Comment #32

KY Floyd — Tue, 18 Mar 2008 07:07:11 GMT

In many ways it's three games. There's the base level jackpot, the $10 million bonus and the $15 million bonus. You can play game 1 by itself, but inorder to play game 2 you have to play game 1. To play game 3 you have to play game 2.

I would assume the lottery put some effort into the effect the new game will have, but it's also possible they're just figuring they can't really lose. About the worst that will happen is that almost nobody will play the bonus levels, and they'll be stuck with s... [ More ]

Comment #31

Stack47 — Mon, 17 Mar 2008 20:42:28 GMT

I was looking at it as two games, one where the payoff depends on the play and one with a fixed payoff. The lottery has already factored in the affect on the profits so I doubt they would even offer the bonuses if they thought the profits would go down. The profit percentage will probably go down but with more sales overall profits should be higher.

Comment #30

KY Floyd — Sun, 16 Mar 2008 08:45:25 GMT

The $15 million, just like the money for every other lottery prize, comes from all of the tickets that have to be sold to get a winner. Any game with a minimum payout might lose money (or make less than anticipated) on any individual drawing, but probability guarantees that they will make almost exactly what they expect in the long run.

The odds of winning the Florida game are are roughly 1 in 23 million, so they can expect to sell 23 million tickets for every ticket that wins the jackpot. Th... [ More ]

Comment #29

Stack47 — Sun, 16 Mar 2008 01:44:45 GMT

As a long-term average they can expect to collect almost $46 million for each time they have to pay the $25 million annuity or $15 million in cash. I think that gives them a decent shot at doing a bit more than break even.

The Mega Millions jackpot has been hit two draws in row and the Florida Lotto has a much lower matrix. If the base jackpot is only $3 million, they could still have to payoff the $10 and $15 million bonuses. Where exactly does the $15 million in cash come from

Comment #28

justxploring — Sat, 15 Mar 2008 10:24:12 GMT

How can it get any more simple?

Oh, to me it's simple. No matter how high the jackpot gets or how many bonuses they offer, I never win anything! LOL

Seriously, all I ever pay attention to is the base amount. If I am unfortunate enough to only win $13 million tonight, then I'll have to grin bear it. :-) If I have to split $13 million with another winner and he spent the extra $2 or $3, I'll still get $6.5M and what he gets doesn't really matter. It would be like winning $3 million one week... [ More ]

Comment #27

KY Floyd — Sat, 15 Mar 2008 01:29:41 GMT

If there are multiple winners, the base jackpot, the $2 jackpot prize pool and the $3 jackpot prize pool will be shared among winners who are eligible for that prize pool.

How can it get any more simple? Each level is a separate pari-mutuel prize, so it gets split among every winner who played that level.

As a long-term average they can expect to collect almost $46 million for each time they have to pay the $25 million annuity or $15 million in cash. I think that gives them a decent shot

Comment #26

Stack47 — Fri, 14 Mar 2008 22:42:02 GMT

The person who wrote the How to win section certainly did a nice job of creating confusion.

It looks like if you bet $1 you're playing for $13M, $23M for $2, and $38M for $3. They call the $13M the base jackpot and $2 players will get that plus $10M from that pool and the $3 players will get a bonus of $15M from that pool if there is only one winner.

If there are three winners, one from each pool:

Each winner will receive 1/3 of the base jackpot prize; the $2 and $3 players will each r... [ More ]

Comment #25

Stack47 — Fri, 14 Mar 2008 21:56:07 GMT

Speaking of anonymity, maybe states that do not allow can modify their stance.

The lotteries are run by the state and are public agencies so the information is public record but some state lotteries have chosen not disclose it to the news media. It would take the news media a few weeks to get the info but don't because who wants to read or hear old news.

Newspapers have been reporting public information like birth, deaths, marriage licenses, divorces, and property sales for decades.. You... [ More ]

Comment #24

justxploring — Fri, 14 Mar 2008 20:59:34 GMT

Stack, I was thinking about that option too. I'll look at the site again, but I didn't think you could choose one payment or the other. I thought it was just annuity (30 year annual payments) or a lump sum. I'm pretty sure I'm right, but I've been mistaken once or twice in my life. LOL Once I thought I was wrong and I found out I wasn't, so that's being wrong, right?

The jackpot reads: $13 million, $23 million, $28 million

So to me that means you get the entire jackpot in whatever form you... [ More ]

Comment #23

Stack47 — Fri, 14 Mar 2008 20:46:49 GMT

They might make it a bigger deal if a winner does not use the option by saying what they could have won for a buck more.

I don't know how they can offer a cash option and still make a profit because they need at least $5M in bonus sales just to break even. Taking the cash for the regular jackpot and getting payments for the next 29 years on the $10M bonus give winners added security.

If Mega Millions or Powerball added an option of taking half in cash and the rest in payments it would make... [ More ]

Comment #22

justxploring — Fri, 14 Mar 2008 08:26:34 GMT

I agree they definitely will make a big deal if the winner uses the option. I hope they are keeping this honest. As long as the drawings are ball drawings and they are televised live, I'll trust them. Obviously they would like the Lotto winner to be someone who spent $3 so they can promote it. I heard an ad on the radio today and it sounds like one of those car ads that quickly say tax, title, doors, tires, engine, not included. They say paid over 30 years years I bet there are a lot of people w... [ More ]

Comment #21

mylollipop — Fri, 14 Mar 2008 05:38:18 GMT

The first winner(s) of the new option on the Florida Lotto will definitely get the publicity! It will boost the new game options for sure. Speaking of anonymity, maybe states that do not allow can modify their stance. They can validate the state's need to make sure the person is legit by verifying the data needed and keep that information confidential. Just the fact that a verifying sysyem validated the winner should be enough. I saw in another post where someone mention that something drastic m... [ More ]

Comment #20

justxploring — Mon, 10 Mar 2008 07:06:47 GMT

The sad thing is all they have to do is go to the website and it plainly tells you what to play and what you will get for your play! DUH!

Not everyone spends a lot of time on the internet reading about the lottery or puts winning the jackpot at the top of their to-do list. I don't think you read the article clearly. This was not a NEW game. People are just not interested in spending the extra dollar. I don't see the problem here.

What's interesting is on the one hand people will call my... [ More ]

Comment #19

mylollipop — Sun, 09 Mar 2008 07:39:14 GMT

and some! The sad thing is all they have to do is go to the website and it plainly tells you what to play and what you will get for your play! DUH! And yes, Justexploring, I realize the PowerPlay is for the lower prizes only. It feels so good to increase my meagre lower tier winnings. LOL. Now maybe if we get a national lottery, the increase the jackpot option would be the seller/the catch, the real hook-up

Comment #18

justxploring — Sun, 09 Mar 2008 06:22:02 GMT

Yes, mylollipop. Guess I wasn't too clear in my post. What I meant is that the extra bonus is paid over 30 years, just like the Lotto jackpot. That doesn't mean you can't opt for a lump sum, but it's the same as when you win any jackpot. Example: the jackpot for Wed is advertised as $10, $20 or $35 million. You either are spending $1 for the $10M jackpot, $2 for the $20M jackpot or $3 for the $35M jackpot. All of these jackpots are paid over 30 years. If you want the cash option, the lump sum va... [ More ]

Comment #17

MeFirstYouLast — Sat, 08 Mar 2008 20:41:07 GMT

Obviously confused me, meant $3.00 gets you $28 Million. Either way, I didn't have to take my shoes off to count, just had to take typing lesson.

Comment #16

MeFirstYouLast — Sat, 08 Mar 2008 20:39:42 GMT

Lets see, $2.00 gets you $13 million. $3.00 gets you $28.00. This confuses the masses? The scary part, these same people who are confused about a simple lotto ticket are going to decided who is the next President of the United States! Remember the chad? W-O-W

Comment #15

pickthi$ — Sat, 08 Mar 2008 03:36:53 GMT

aint that the truth! But its a lot easier going back to worth with a few hundred thousand in the bank account. Work isnt so bad then.

Comment #14

JackpotWanna — Fri, 07 Mar 2008 23:45:30 GMT

I would be in heavy regret if I won only $3 million when I could have won 15 million with an extra $1 or 28 million with 2 more dollars. Instead of going to I will be headin back to (work) First the tax man takes their cut. 3 - 1.3 = 1.7 remain. Then my wife takes her cut. 1.7 - 1.6 = 100,000. lol

Oh well, Good Luck to all who play.

Comment #13

LuckyLilly — Fri, 07 Mar 2008 15:48:17 GMT

But the lower prizes aren't multiplied in FL Lotto! Only the jackpot.

So I'd play $2 until the base jackpot got high enough that a win would ensure a very comfortable life. For me, that would be around 8 million which I estimate would be around 3 mil after taxes. When the base jackpot (paid on a $1 ticket) got over that amount I'd drop back to buying the $1 ticket.

Comment #12

mylollipop — Fri, 07 Mar 2008 06:14:01 GMT

The Official FL Lottery Site indicates that the $2/$3 plays for Lotto can be claimed as cash also. It seems like I can not post the link. Anyway, if I did play the new game, I would choose the $2/$3 option. After all, that is how I break even in PB playing the PowerPlay. LOL

Comment #11

NYSlugger 777 — Fri, 07 Mar 2008 05:37:29 GMT

Well I guess I can say that if you want to win over 20 mil,just have a little patience.

After consecutive draws and no one hits the jackpot the rollovers will soon push the jackpot past the 25 million dollar mark,then play for $1 per ticket.

Further more , when nobody hits that particular jackpot of lets say about 3 million,the jackpots themselves rolllover and increase(what im saying is you dont have to spend one dollar extra to increase the jackpot it will increase by itself as the rollo... [ More ]

Comment #10

LuckyLilly — Thu, 06 Mar 2008 22:33:12 GMT

Ah well that fact makes it even worse. LOL 1.1 mil doesn't go far these days.

Comment #9

ThatScaryChick — Thu, 06 Mar 2008 22:24:03 GMT

I agree. I would be happy with the fact that I actually won a jackpot in the first place. It's not as if it's easy to win one any old time.

Comment #8

justxploring — Thu, 06 Mar 2008 22:20:06 GMT

Quick note, Lilly. That $3 million is about $1.7M cash which after taxes would be around $1.1M. The extra dollar adds a bonus, but in the form of an annuity. It's still a lot of money, but I just wanted to clarify that point. I'm pretty sure you can still take it as a lump sum, but it's nowhere near $10M. Cash payouts for FL Lotto average 55% to 60%.

Comment #7

LuckyLilly — Thu, 06 Mar 2008 21:38:24 GMT

If that buck would have been the difference between 3 mil and 13 mil, I'd regret it for a bit. Face it, 3 mil isn't much. In my state after taxes it'd be around 1.6 mil. That's definitely nothing to sneeze at, and would provide for a comfortable life if you're careful and spend it wisely. But 13 mil would be almost 8 mil after taxes. With 8 mil you could help others if you wish, and still have enough that you could splurge on some stuff and wouldn't have to spend ever dollar wisely.

So yeah I... [ More ]

Comment #6

NYSlugger 777 — Thu, 06 Mar 2008 21:27:51 GMT

If you are a jackpot winner and youve won millions who is going to regret not spending an extra buck youre still the first place winner and anything over a million dollars is enough to be satisfied with.Just be happy you won thats all that really matters.

Comment #5

JackpotWanna — Thu, 06 Mar 2008 19:31:50 GMT

New york has a similar game called NYlotto. For an extra $1 all the prizes doubles except the jackpot. The jackpot remains the same. I Like the Florida's game better.

Comment #4

RJOh — Thu, 06 Mar 2008 19:13:45 GMT

True, every jackpot winner may wished he had spent an extra dollar or two for an extra $10M or $25M but he will be only 1 in 22,957,480 ticket holders, the rest are going to be happy they didn't because the amount they win is not effected. If spending the extra dollars on more chances resulted in the player winning the jackpot then he's going to be happy too.

Comment #3

Todd — Thu, 06 Mar 2008 18:45:50 GMT

That was my point too.

If I felt strongly about a few sets of numbers, I would definitely give it a try. I'm not sure I would play it every time, but there is a big difference between $3 million and $28 million.

Comment #2

JackpotWanna — Thu, 06 Mar 2008 18:26:12 GMT

I'll bet there are going to be lots of jackpot winners who going to regret not spending an extra 1 or 2 for the bigger jackpot.

Comment #1

RJOh — Thu, 06 Mar 2008 16:49:55 GMT

If there's a very good chance of not winning the jackpot, while would anyone want to pay an extra dollar or two for the privilege

New Florida Lotto playslips a bother to some

Lottery Post — Thu, 06 Mar 2008 16:35:34 GMT

Some players annoyed by re-writing slips used 'for years'; don't understand new jackpot options

As the Florida Lottery made changes to its Lotto game, a Lauderhill woman claimed the $3 million jackpot from the March 1 game.

Melony Gregory, of Lauderhill, chose the one-time, lump-sum payment, and will receive $1,711,642 after taxes.

Meanwhile, Lotto players faced a slightly longer wait to purchase tickets for Wednesday night's drawing, the first since the Florida Lottery made changes to... [ More ]