N.C. lottery turns record profits for state

Comment #14

sixstringernc — Wed, 29 Oct 2008 12:45:46 GMT

Except that you don't receive payments from the state. The state is required by law to take the Cash amount of the jackpot, and purchase (buy) the annuity. The state is no longer in possession of the money.

Comment #13

dk1421 — Wed, 29 Oct 2008 04:01:21 GMT

Personally, with how everything is going, I'd be afraid to do the 30-year payment system. I'd fear that the state would evenually stop payments if they really needed the money. Yes, it's illegal, but really - who is going to support you? Most people would say just be happy with what you've gotten so far , not realizing you've had plans for that money.

On the other hand, in this market, you would lose money if you had invested it earlier in the year. However, now is a good time to invest with... [ More ]

Comment #12

TruthSeeker — Tue, 28 Oct 2008 16:33:10 GMT

The NC Lottery is paying out more in prizes, which is why their sales are up and their return to education. You can ask the NC Lottery how much they have paid out in prizes and see for yourself. They are on a government fiscal year so if you look at how much they have paid in prizes the first three months of this year and compare to the same time last year you will see this--- Prizes paid July-Sept 2007 = $116 million and July-Sept 2008 = $178 million

Obviously not everybody can win, but do t... [ More ]

Comment #11

ThatScaryChick — Sun, 26 Oct 2008 18:00:59 GMT

Neither is Idaho. The amount of people who actually win is very, very low. I'm guessing the pick 3 isn't as popular here as it is in NC, but we get very few wins.

Comment #10

Tenaj — Sun, 26 Oct 2008 13:47:28 GMT

Some people might disagree but I think that it's the pre-test draws that throw off the numbers in NC pick 3. They have too many draws before the actually number and then after the actual draw they do another pre-test draw. So there's 3 draws before the actual draw, the 4th is the actual draw and then they do one after. 5 draws a day.

I don't know how how other states do their pre-tests but something doesn't seem right about how it's done in NC. And I like to see them turn the machine on and... [ More ]

Comment #9

Abdi — Sun, 26 Oct 2008 05:45:18 GMT

What an Excellent profit,may be they could also extend cash gifts to Churches and other institutions

Comment #8

JordanT1021 — Fri, 24 Oct 2008 13:11:24 GMT

In today's market and economy I would take the 30 years of payments. If I invested everything and I lost it I would be sick. NOw having someting come in every year would promise me something. Even If I lost my job for a little bit or had no job at all, I would have enough money from the 30 years of payments to live off the bacis...

Comment #7

sixstringernc — Fri, 24 Oct 2008 13:07:41 GMT

True, I live in NC, and all the state games have some of the worst payout rates in the country. You are better off just playing the national Powerball, at least then you are with everyone else in a Powerball state.

Speaking of which, in trying to decide between annuity and cash option, has anyone run the numbers to see the better choice? My last attempt at an analysis using the $52 million jackpot as an example, they seem to be getting about a 5% return on the $25.5 million invested in an ann... [ More ]

Comment #6

sassy44 — Thu, 23 Oct 2008 21:37:43 GMT

north carolina is not paying out very much

Comment #5

JordanT1021 — Thu, 23 Oct 2008 13:41:23 GMT

I am off by one stinking number 90% of the time. it does make me wonder how many people were playing what number I was playing...

Comment #4

JordanT1021 — Thu, 23 Oct 2008 13:40:07 GMT

I do agree on the amount of money earned compared to how much ncel actually pays out to pick 3 games and other tickets... on www.wral.com it shows how much each county has won in pick 3 games compared to other counties. guilford county the one I live in is one of the highest compared to the raliegh county or charlotte county...

Comment #3

DrannyMa7 — Thu, 23 Oct 2008 13:14:35 GMT

My daughter pointed out this same theory to me a couple of months ago. You probably have a valid point jasonNC.

Comment #2

jasonNC — Thu, 23 Oct 2008 04:29:00 GMT

I see how they made a record profit, look at how many people win on there game, they have one the lowest payouts around. It don't take a rocket scientist to figure out what's they're doing, just add up the amount of people that hit with the payout amount, and you'll be able to see that they system is rigid. Honestly they know what we play, and then make sure that number don't come out, that's why there's no one in NC can hit big. Don't take my advice just start adding the numbers yourself.... [ More ]

Comment #1

jusus27360 — Thu, 23 Oct 2008 03:14:27 GMT

Hell no wonder they can turn a profit, they come up with some crazy numbers so no one can hit : = }

008 only 438 people had it out the entire state, yea they made a profit today

N.C. lottery turns record profits for state

Lottery Post — Thu, 23 Oct 2008 02:43:18 GMT

Economic times on Wall Street are tough these days, but not so for the North Carolina Lottery.

North Carolina's lottery has made its largest transfer of money to state education programs in the game's 2 -year history.

The North Carolina Education Lottery said it sent $99.8 million to a dedicated state fund Wednesday morning. The money is used for class-size reduction and pre-kindergarten initiatives, public school construction and college scholarships.

The lottery began selling tickets... [ More ]