To SirMetro

Reply #33

rdc137 — Thu, 21 Sep 2006 14:22:54 GMT

...at which point we will simply start a new thread and continue the discussion

Reply #32

guesser — Thu, 21 Sep 2006 06:05:22 GMT

And this is where the phrase 'I will agree to disagree' comes into play, and then, HOPEFULLY, a moderator will lock this thread.

Reply #31

CASH Only — Wed, 20 Sep 2006 23:29:20 GMT

So maybe now Delaware is the next Hot Lotto state? AFAIK it's still expanding in November.

Reply #30

justxploring — Wed, 20 Sep 2006 23:28:27 GMT

IMO there are parallels between cash v annuity and the abortion issue. For obvious reasons, I won't go any further. CashOnly

Cash, this was a really cheap shot for obvious reasons. People often make comments and then write words like don't bother even responding or I won't even get into this. When this happens, it's a way of saying you need to make a point and have the last word. Then just say it.

For the year or so I've been on this site, I've seen your rants every time this di... [ More ]

Reply #29

rdc137 — Wed, 20 Sep 2006 21:42:12 GMT

Delaware's (Multi-Win Lotto) odds are actually better because they only use 35 balls, however, the jackpot is seldom won because it starts at $50K, increases $2000 per draw, and draws 3 times per week. Its a bit of overkill, plus its a computerized game.

Now just to make matters interesting, when I picked up my tickets today in Dover, the clerk was talking to an apparent regular about the lack of sales for the Multi-Win Lotto and said that his understanding is that game will be replaced by th... [ More ]

Reply #28

rdc137 — Wed, 20 Sep 2006 21:34:04 GMT

I have 26 draw tickets for both games with my favorite numbers.

Reply #27

sirbrad — Wed, 20 Sep 2006 21:15:00 GMT

Match 6 is only a better game when it is at least $2 million or more. At least for me, as I do not even bother with it if it is lower than that. Especially the after tax pay out. I would need at least a million after taxes in order to fully enjoy myself without a job. The problem with match 6 is, it is a very slow climb into the millions. Another problem is that when it finally gets there, there are usually multiple winners which decreses your jackpot dramatically.

I don't play for chump cha... [ More ]

Reply #26

CASH Only — Wed, 20 Sep 2006 19:15:50 GMT

Then it looks like the end of Unlucky for Life and the beginning of the replacement game will be an Xmas present.

If you have to play the PA lottery, Match 6 is a much better game, and much more exciting.

Reply #25

rdc137 — Wed, 20 Sep 2006 13:49:06 GMT

I agree with you, and I'll take it a step further. I'm guessing that their justification for the extra dollar is that instant match game. Here's a thought: Make it an optional add-on. If you are familiar with NJ's Pick 3/4 and FL's Fantasy 5, each of those has an optional instant match add-on. PA's could work the same way, instead of the time-based pseudo-number B.S.

Reply #24

sirbrad — Wed, 20 Sep 2006 05:14:39 GMT

Last I talked with the PA lottery they said they have no plans of changing the game. They claim it is what the people want. I personally would love to know who these people are, as I did not get a vote. I requested that they drop the game to $1.00, and/or raise the prize to at least $5,000 a month for life. If they did that, no cash option would not bother me in the least. I would also play more, and they are losing money because of the $2.00 price. At least from me.

Reply #23

sirbrad — Wed, 20 Sep 2006 05:10:58 GMT

I wonder if we go there all at once, or have the option to go a little at a time over 30 years

Reply #22

rdc137 — Wed, 20 Sep 2006 03:44:25 GMT

I tested your theory on this.

So far, since you first made your claim, I have asked over a dozen PA retailers if they knew anything about Lucky for Life closing down. None have. Further, one in Kennett Square explained that if the game were being closed down, they would have been informed if it were to happen in the next three months because their computer would not allow them to sell 26 draw tickets.

Also, to test your theory, I used one of PA's self service ticket machines to attempt to... [ More ]

Reply #21

TheTruth — Wed, 20 Sep 2006 01:51:13 GMT

I laughed at this comment

i promise you, when you do past on, money will be of no concern to you...in fact, It's to my understanding that life in the afterlife is like nothing here on earth. The life you experience up there , is free from all the material we care so much about down-here , because up-there , not only can we have what we want, we can do absolutely anything we want beyond these physical means.

I guess you would have to think of it this way...

At least those last 10 sec... [ More ]

Reply #20

sirbrad — Wed, 20 Sep 2006 01:02:22 GMT

I don't care what I win, either will make my financial situation a lot better than it currently is. If your not guaranteed to live even for 10 seconds, then what is to say you won't drop right after selecting a cash option? So I guess it doesn't really matter. What confuses me is why someone cares so much what other people are doing, and telling them what and what not to play. That is the problem here. Whether you do it yourself or not is all that matters. When someone wins they are going to do... [ More ]

Reply #19

guesser — Wed, 20 Sep 2006 00:21:55 GMT

Mr. Truth, I don't get it myself.

It would sure be a shame to be FORCED to take money a certain way for something you VOLUNTARILY paid to play in..... (sic

Reply #18

TheTruth — Tue, 19 Sep 2006 23:54:18 GMT

Wow, thats a very bright outlook on life lol. It looks like cash only likes lump sum, sirmeatro likes annuity...so why is there even an argument

Reply #17

CASH Only — Tue, 19 Sep 2006 22:39:28 GMT

Winners of these games I dislike are forced to receive annual/quarterly payments. Everyone knows that nobody is ever obligated to purchase a lottery ticket.

Reply #16

SirMetro — Tue, 19 Sep 2006 20:55:12 GMT

Uhmmm...by using the word Force , are you implying that you are mandated to participate in the game to begin with? Last time I checked, the Lottery Games are optional. There is NOTHING out there to FORCE anyone to do anything. If a person does not like an annuity based game, they should not be stupid enough to play it. Otherwise, they are willingly inflicting misery upon themselves.

And the prize being guaranteed , it is enforced because it is made to your estate for the duration as defined... [ More ]

Reply #15

SirMetro — Tue, 19 Sep 2006 20:48:01 GMT

First, I didn't disagree, however, I have a wife and daughter and knowing that they will be takened care of for 10 years is just fine by me.

Second, I am sure the phrase Lump Sum is used because the weekly payment of $1000 is consolidated into 4 equal quarterly payments. So again, your argument is invalid, in that multiple weeks is LUMPED together for fewer payouts thus permitting the use of the phrase Quarterly Lump Sum Payments .

Reply #14

CASH Only — Tue, 19 Sep 2006 20:46:28 GMT

Powerball is annuity based (so is Mega Millions) but both have had a cash option for years.

Reply #13

SirMetro — Tue, 19 Sep 2006 20:42:44 GMT

Well, about a month ago, I was in Pocono, PA for about a week. No one there seemed to care one way or the other about the Lottery games being annuity based. At least no one I spoke to cared. And when I asked several attendants and customers if they knew about a boycott in their state against their Lucky for Life game, they was all a bit surprised and thought it sounded like a petty waste of time and energy .

So, CashOnly, appearantly, your own local neighbors don't share your opinion.

Reply #12

guesser — Tue, 19 Sep 2006 20:25:48 GMT

Then - don't play those games !

It's that simple.

I don't like the odds vs. payback of several games, so I simply don't play those games.

Reply #11

CASH Only — Tue, 19 Sep 2006 20:23:18 GMT

But YOU'RE not guaranteed to live 10 years, or even 10 more seconds.

And why does GA use the phrase lump sum in describing the quarterly payments

Reply #10

SirMetro — Tue, 19 Sep 2006 20:21:19 GMT

For the record, even the cash value of $93 million would not be enough for me to want to quit my job. I enjoy the work I do and odds are, I would probably try to buy the Company I work for with my winnings.

Reply #9

SirMetro — Tue, 19 Sep 2006 20:18:23 GMT

Of course length of life is not guaranteed, but as noted here (and please keep in mind I am making the assumption that this applies to most states) http://www.galottery.com/gen/aboutUs/faq.jsp#5

The payments for the annuity continues to the Estate of the Winner for the remaining duration of the annuity. The duration of the annuity has a defined minimum payout value or period of time. In Georgia, The top prize of $1,000 a Week for Life will be paid quarterly in a lump sum of $13,000 each, f... [ More ]

Reply #8

CASH Only — Tue, 19 Sep 2006 19:53:03 GMT

This is the point I'm trying to make. Some US lottery games (online and scratch) don't have an annuity option ; they force you to receive the annuity payments. And as for the prize being guaranteed , there is no guarantee on how much longer you'll live.

Reply #7

CASH Only — Tue, 19 Sep 2006 19:49:41 GMT

The lack of a cash option in GA probably is not the only thing going against it. The top prize is not enough to make someone quit their job, and when there are no 6/6 tickets (most of the time) the jackpot does not roll over. I don't understand why all three Lotto South states got together on your 6/42; KY, a Powerball state, should have joined the MUSL multi-state jackpot game Hot Lotto, which is expanding again, and might be picking up a southern state in November. South Carolina was looking... [ More ]

Reply #6

Rick G — Tue, 19 Sep 2006 19:47:31 GMT

Personally, I'd take the annuity option for the reasons SirMetro mentioned. The prize is guaranteed over a period of time, the investment has been made for me, and there is less likelihood of me squandering it or thieves stealing it from me. When you have millions of dollars, the goal is to protect your principal.

Great excuse to ward away the vultures... Sorry, I won't have any more money till next year. Come back then . Meanwhile you can move to a nice island somewhere.

Reply #5

SirMetro — Tue, 19 Sep 2006 19:38:07 GMT

The W4L game has just begin to garner my interest because it finally has enough games to make tracking worthwhile. I don't care that it is multi-state. Personally, I think that is all it has going to keep it alive. I do believe if the number of grand prize winners in GA does not increase, sales will drop substantial. But again, that is just my opinion. I typically only play it a few times a month, I track it to see if it improves my picking ability for the Mega.

What I wish was that GA had th... [ More ]

Reply #4

CASH Only — Tue, 19 Sep 2006 19:31:22 GMT

PA started a $2-per-play 6/38 game less than two years ago, with a top prize of $3000-a-month-for-life, and no cash option. A fellow LP member said the game will be retired in December. There may be other factors, but the lack of a cash option has to be a big reason.

The new GA-KY-VA game's novelty probably has started to wear off, and, in time, the lack of a cash option in GA and KY and the cheap lump-sum prize in VA will bring a premature end to it.

Reply #3

SirMetro — Tue, 19 Sep 2006 19:25:25 GMT

I think that Players know what their options are upfront and if they don't like it, they, like you, should opt to NOT play the game. If sales remain poor, the game will, for obvious reasons, be terminated.

On the other hand, there are those who simply don't understand how to manage money and annuity based lottery would actually be more beneficial to those individuals then a lump sum.

I personally would love to see a cash option on the games as I believe I can create far greater wealth in a... [ More ]

Reply #2

CASH Only — Tue, 19 Sep 2006 19:12:22 GMT

Well, then, don't you think your 6/42 game would be better if winners had a choice of $1000 a week or, say, $750,000 lump sum? VA does offer a cash option, but it's ridiculously low at 520k, or just 10 years worth of quarterly payments.

As you know, my NY, the home of the world's cheapest lottery game, has numerous annuity-only scratch games, including four lifetime scratches.

Reply #1

SirMetro — Tue, 19 Sep 2006 19:06:20 GMT

CASH Only,

I have always respected your OPINION in regards to a game's method of payout. All I have ever asked in return was the same respect for the opinions I hold as you want for your own. I have not made irresponsible and non-relevant comments within your posts because I do respect your opinion. I have even offered up possible scenarios that pose a realistic problem to support your position. But again, it was merely my personal opinion, not fact.

I understand you don t like annuit... [ More ]

To SirMetro

CASH Only — Tue, 19 Sep 2006 18:20:13 GMT

I have ALWAYS felt that players should have the option of collecting their prize in LUMP SUM should they win an annuity-based prize.

The cash value of a lottery prize (minus withholdings, as this is the USA) is the personal property of the winner (or it should be) and not the government. NO lottery winner should be forced to receive periodic lottery payments (over X years or lifetime ) without being given the option of receiving the actual retail value of the annuity in lump sum.

IMO th... [ More ]