lottery great invention...

Reply #3

BobP — Sun, 24 Sep 2006 06:05:53 GMT

In the U.S. the lottery buys an annunity from an insurance company to make the payments over twenty years, the for life I believe works the same way and yes insurance companies can go bust too. The less stable the country, government, economy the more risky a long term payout is.

Funny story: You often hear Voltaire quoted as saying, Lottery is a tax on the stupid. What they don't tell you is he made his fortune by winning the lottery.

Voltaire and his friends put their money into Par... [ More ]

Reply #2

pumpi76 — Sat, 23 Sep 2006 17:29:11 GMT

BobP Didn't think about that.. Yes you are right, they will have to be enourmous public confidence in the prosperity of the lottery...On the other hand i never heard of the Govt defaulting on bonds, but it could be true...To think about it, I don't know if 36 lotteries can prosper in a country with small population. The entire population will have to be lottery addicts/players...One piece of information i'll like to get my hands on is what percentage of the population of a country plays lottery... [ More ]

Reply #1

BobP — Sat, 23 Sep 2006 03:59:36 GMT

For such a lottery to be a success there has to be almost total public confidence in the stability of the country's banking and lottery system to guarantee the prize payments for life.

I would imagine in more then half the countries in the world, you would be best off getting what you can of the prize while you can at the earliest possible moment.

If governments can default on bonds, they can stop paying lottery prizes or pretty much do anything else they want.

BobP

lottery great invention...

pumpi76 — Fri, 22 Sep 2006 18:53:55 GMT

I write this not for people to understand me for i believe some of you may not understand it but i write it so that the whole world can see...I may be criticized but every few people would understand...It just prove how obssessed with numbers i am...

I consider the greatest invention the lottery has ever come up with is the invention that if you win the lottery you win it for life...Example is Ga. Win for life...That lottery in a third world country would be perfect..The idea that you are goi... [ More ]