Proposed Lot 'O Play Amendment....

Reply #7

CASH Only — Tue, 15 Nov 2005 21:29:54 GMT

OH should realize LoP is a much different game than Super Lotto Plus was. Either make the jackpot all-cash or retire it. New Jersey Lucky 7 lasted only five weeks in 1990.

Reply #6

Bradly_60 — Tue, 15 Nov 2005 20:20:15 GMT

The way they figure the annuity is just a way for them to inflate the jackpot amount. Higher jackpots mean higher sales and they can do that with just changing the annuitized table. If it was my job to raise as much money as possible I would do the same.Brad

Reply #5

NoCompLotto! — Tue, 15 Nov 2005 18:50:05 GMT

I think DrEw is right though... since the notice says changing how the payments are made, I now think that they are changing it to either 30 years (like SLP was) or graduating it every year. The graduation idea is stupid thoguh... who would want a first year payment in a $4.3M JP to be less than $100,000 (minus taxes

Reply #4

CASH Only — Tue, 15 Nov 2005 14:58:30 GMT

chew:It's not the annuity that I dislike; it's the cash value %. The Mega Millions annuity is the same as LoP (26 equal payments), but the cash value percentage is significantly higher.

Reply #3

Chewie — Tue, 15 Nov 2005 14:55:38 GMT

You found an annuity you didn't like. Who'd a thunk it.

Reply #2

CASH Only — Tue, 15 Nov 2005 14:52:25 GMT

The LoP annuity should be eliminated. As it stands now the cash value is 50% of the annuity instead of a floating percentage, so cash option winners are getting a raw deal.

Reply #1

DoctorEw220 — Mon, 14 Nov 2005 23:19:59 GMT

I have a feeling that they may make the annuity either 30 years, or they would make the payments gradually increase.

Proposed Lot 'O Play Amendment....

NoCompLotto! — Mon, 14 Nov 2005 23:12:49 GMT

Taken directly from ohiolottery.com:OHIO LOTTERY COMMISSIONNOTICE OF PUBLIC HEARING ONTHE AMENDMENT OF AN EXISTINGOHIO LOTTERY ON-LINE GAME RULENotice is hereby given that the Ohio Lottery Commission intends to adopt amendments to one (1) Ohio Lottery On-line Game Rule in Proposed Form. A public hearing will be conducted on December 19, 2005, at the Frank J. Lausche Building, 615 W. Superior Avenue, 4th floor, Cleveland, Ohio 44113, at 9:00 A.M. in accordance with the Administrative Procedures A... [ More ]