Florida Lotto

Reply #7

CASH Only — Mon, 09 Oct 2006 20:50:00 GMT

The 60% that I've referred to would apply to all Florida online games, not Lotto. That would be the payout percentage. Compare to a maximum of 40% in NY Lotto.

As for Florida Lotto and Mega Money, which are annuitized, the percentage of the annuity that is paid out to lump-sum winners fluctuates. The % is lower for Lotto, as the annuity is 30 annual payments.

Reply #6

CA LotteryGuy — Sun, 08 Oct 2006 22:48:47 GMT

justxploring...it seems like there are two different payouts that are being referred to in this string.

The first is the payout of lottery sales that must go to the prize pool, which is what Florida law (per your post) sets at 50%. This is what I think Floridian and CASH Only are referring to.

The other is the one often used by the public, the percentage of the jackpot that is paid out as the cash option. This is the one that MegaMoney pays out in the 60% range and where a player wh... [ More ]

Reply #5

justxploring — Sun, 08 Oct 2006 18:51:50 GMT

Follow up:

Yup! Both of the winners bought quick picks. One of them was right here too, about 15 miles north in South Fort Myers! I often pass that 7-11.

Reply #4

justxploring — Sun, 08 Oct 2006 04:18:30 GMT

Thanks, Floridian for your confidence in me. But I really don't keep up with the politics...I just want to win! LOL I see the signs all the time that say $16 Billion to Florida Schools and FL Law requires the lottery to pay out 50% in prizes. It's pari-mutual so often the prize is more than advertised. You are correct about the payout. I've seen Lotto pay higher than 60% but it averages 54-58%. The MegaMoney, which is a 20 year annuity, usually pays more than 60% as the lump sum and I've... [ More ]

Reply #3

floridian — Thu, 05 Oct 2006 21:42:15 GMT

CASH only:

Remember that Florida is composed of many retirees that have a good deal of disposable income. I believe the latest figures show that 1,100 people a day move to Florida. Very soon Florida will surpass New York's population. Why do you think that the politicians go after it so hard.

I am pretty sure that this Lottery is the most profitable in the nation.

I believe justxploring can speak to this better than I. She is very up on all the latest stuff in Florida.

When you... [ More ]

Reply #2

SirMetro — Thu, 05 Oct 2006 21:27:54 GMT

I hope you have a safe trip and that you win something while your there.

BTW...if you do hit it big...gonna go for the annuity

Sorry...just couldn't resist...have fun.

Reply #1

CASH Only — Thu, 05 Oct 2006 20:40:49 GMT

I forgot to add that I will be in Florida this month. I plan to play Lotto for the 10/18 and 10/21 draws, and Mega Money for 10/20 with a friend.

Florida Lotto

CASH Only — Thu, 05 Oct 2006 17:00:18 GMT

Interesting that Florida Lotto and NY Lotto were both $9 million last night. Both games rolled; $5 million in Florida, but just $1m in NY. Sure, Florida still hasn't gone multi-state, but how else can you explain the difference in the amounts in the rollovers? AFAIK Florida still hasn't caught NY in state population. Seems to me NY players more than ever are sensing that NY Lotto is the world's biggest ripoff! Does anybody know when Florida will have 60% payouts