60-day clock (cash v annuity)

Reply #11

CASH Only — Tue, 25 Apr 2006 20:13:38 GMT

If Washington state has a cash option for its lifetime scratch, then why aren't other lotteries following suit? Maybe for the same reason all lotto games used to be annuity-only; to help annuity sellers make money.

Reply #10

ryanm — Tue, 25 Apr 2006 03:09:03 GMT

Quote: Originally posted by CASH Only on April 20, 2006Quote: Originally posted by ryanm on April 20, 2006For life games, by definition, are supposed to provide the winner with an income for life, so you shouldn't expect them to have cash options. Simply put, if you don't like those type of games, don't play them.

WA state Lucky for Life scratch (which replaced the online Unlucky for Life) has a $750,000 cash option. Therefore there is no excuse for other "life" games not to have the choice.... [ More ]

Reply #9

Just6ntlc — Mon, 24 Apr 2006 17:35:10 GMT

If I ever win the jackpot, I rather claim the jackpot within 60 days of the winning jackpot. At all times, I would pick the cash option instead of annual payments.

Reply #8

DoctorEw220 — Fri, 21 Apr 2006 21:17:09 GMT

Back when Ohio has Super Lotto Plus, players had the option to change their mind if they chose the annuity. What I would do was choose annuity, and in the event that I win, and in the event that I would decide to take the cash, I would do so.

Reply #7

Just6ntlc — Fri, 21 Apr 2006 16:58:53 GMT

My vote is for after the drawing because in CA SLP and MM tickets, they claim the jackpot within 60 days.

Reply #6

JimmySand9 — Thu, 20 Apr 2006 23:26:43 GMT

I believe players should have to make their payment decision when they buy their ticket, but should also be able to change their mind later. That way, people like CO can take their time to claim without worrying about the, in his opinion, evil annual payments.

Reply #5

CASH Only — Thu, 20 Apr 2006 19:31:09 GMT

WA state Lucky for Life scratch (which replaced the online Unlucky for Life) has a $750,000 cash option. Therefore there is no excuse for other life games not to have the choice.

Reply #4

ryanm — Thu, 20 Apr 2006 19:28:31 GMT

For life games, by definition, are supposed to provide the winner with an income for life, so you shouldn't expect them to have cash options. Simply put, if you don't like those type of games, don't play them.

Reply #3

CASH Only — Thu, 20 Apr 2006 18:33:14 GMT

MA Megabucks is the only jackpot game that remains annuity-only. OR Lose for Life and PA Unlucky for Life do not have a cash option. As for GA-KY-VA Lose for Life, only VA offers a cash option, according to www.valottery.com , but for weeks there has been no mention on the site of the $520,000 lump sum.

Reply #2

LOTTOMIKE — Thu, 20 Apr 2006 18:23:07 GMT

by the way are there any states that are annuity only

Reply #1

LOTTOMIKE — Thu, 20 Apr 2006 18:22:36 GMT

maybe they should extend it

60-day clock (cash v annuity)

CASH Only — Thu, 20 Apr 2006 18:17:35 GMT

Almost all states (NY and Texas are the major exceptions) have a 60-day window in which to choose cash, after which you are stuck with the annuity. In most cases the 60 days start with the claim; elsewhere (eg Florida) the clock starts with the drawing. Unfortunately, not all games with a top prize paid over time have the cash option.