Advertised Jackpots and Cash Options

Reply #3

Coin Toss — Sat, 12 Aug 2006 23:38:08 GMT

Thanks, that's what I was wondering. I was also thinking that if a private enterprise tried to get that one on they'd probably be facing racketeering charges, no?

Makes me think of some of Losing Jeff's posts.

Reply #2

ryanm — Sat, 12 Aug 2006 22:47:31 GMT

That's right. The advertised jackpot does not exist because it includes the total interest earned on the cash value over time if the winner chooses annuity payments.

Reply #1

justxploring — Sat, 12 Aug 2006 22:03:12 GMT

Coin Toss, I thought that the advertised jackpot actually doesn't exist and only the cash value is available. The jackpot is the amount the lottery estimates the cash value will reach if invested for 30 years at today's interest rates. Maybe I'm wrong, but that's the way I've always looked at it.

Advertised Jackpots and Cash Options

Coin Toss — Sat, 12 Aug 2006 21:53:31 GMT

(This is not about payout choices)

Since there are many knowledgable people here, and sorry if this has been discsussed before, but when someone chooses the lesser value cash value over the advertised jackpot amount, as for the money not paid out:

1. Why doesn't it roll into the next jackpot?

and

2. Where does it really go