Didn't Play The Lottery Insurance

Reply #23

jrosina — Mon, 01 Mar 2010 21:04:58 GMT

I am such a Gambl...ahem..I mean Investor, I would do it. If it does not cost the same as my daily Purchase, Why not! People buy Pet Insurance

Reply #22

Coin Toss — Mon, 01 Mar 2010 15:01:36 GMT

jwhou,

That's true, Mary Hart had her legs insured for $1,000,000, as did some others.

But the OP isn't talking about $250,000 escrow, it's talking about just a few dollars to insure a ticket that might win that someone forgot or didn't get to play.

Ain't happening. No insurer is going to go for that, why would they?

I play these number a lot.......but if I don't get them in some day, and they do hit, if I give you $20 would you insure, guarantee, that I get paid the jackpot anyway... [ More ]

Reply #21

jwhou — Mon, 01 Mar 2010 00:13:52 GMT

Lloyd's of London has insured a model's legs before. All that needs to happen is that someone who has $250,000 to put into escrow incorporates as an insurance company (the escrow is needed to register as an insurance company), writes the policy and then resell the derivative on the open market as securities to the likes of Lloyd's of London. The people buying the securities will only be concerned about the rating of the security and that would depend on how the derivative has been packaged and u... [ More ]

Reply #20

ca-dreamin* — Sat, 27 Feb 2010 01:51:27 GMT

The sad truth is that if this insurance were available people would actually buy it.

Reply #19

Coin Toss — Fri, 26 Feb 2010 23:19:57 GMT

Can we say it's a safe bet the Lloyd's of London wouldn't touch this? Along with Prudential, Traveler's, and all the others?

Maybe the Madoff Ins Co. would, but no others.

I nominate this thread for the entertainment calendar at the Institute for the Lottery Insane.

Reply #18

pumpi76 — Fri, 26 Feb 2010 21:38:45 GMT

they dont have to play each day, i dont know how they are going to cover Powerball which the prize can go up to: 150 million....but the regular Pick6 and Pick5 can be done...Is similar to free lottos they take out insurance for it...

What are the odds that 1 person with 3 tickets will win...It may take that person: 8 years before she can see a win...And it will be 1 person out of: 200,000 people...All they need is to get the enough amount of people...600,000 people x $50 = 30 million in 2 yea... [ More ]

Reply #17

RJOh — Fri, 26 Feb 2010 21:13:19 GMT

DNPTL insurance saves you from this tragedy. You register your lucky numbers with the Insurance Company and tell it what games to follow, and from then on: if those numbers are ever worth a large prize, the Insurance Company will pay you that prize in full: even if you also played and won the prize on your own!

Insurance Companies charge fees for covering you risk, and they usually make money doing it. Do you think they would charge an annual fee that would be less than you would have to

Reply #16

Raven62 — Fri, 26 Feb 2010 20:21:37 GMT

The new way is: Go to Washington and get a Bailout: The only folks not getting a Bailout are on Main Street

Reply #15

jwhou — Fri, 26 Feb 2010 20:10:32 GMT

And should one of their clients do win the Jackpot and they had been unable to sell the risk as repackaged commercial securities then they would just declare bankruptcy.

Great business idea.

Reply #14

KY Floyd — Fri, 26 Feb 2010 19:34:26 GMT

With some modifications that's actually an interesting idea, at least in the abstract. If you get paid even when you bought a ticket and win I think it's a pretty clear case that the insurance company is running an illegal lottery: you give them money and if your numbers are drawn they pay you. OTOH, if they only pay out if your numbers are drawn but you forget, or are unable, to buy your usual ticket for the drawing there's an argument that they are selling a legitimate insurance product. In th... [ More ]

Reply #13

lucky6025 — Fri, 26 Feb 2010 15:38:29 GMT

Yup, I get that sick feeling in my stomach when didn't play and hate to even watch TV or check lottery next day for fear seeing my numbers there.Like being at casino and playing $100.00 on 1 slot machine to not win a dime and have 98yr old lady with oxygen bottle sit down and two coins and wins JACKPOT.or better yet play $60.00 in 1 slot machine and come down to last 1.00 left in machine and hit play but its not the total that could be bet 3.00 would have been and you have plenty of coins just d... [ More ]

Reply #12

badboy00z — Fri, 26 Feb 2010 09:08:19 GMT

That's pretty hardcore. Good thing I don't have any lucky numbers. Lol. Whenever I don't win I always wonder if I would have won if I just gotten another QP.

Reply #11

rdgrnr — Fri, 26 Feb 2010 07:15:15 GMT

Some folks never stopped making their own (or so I'm told ).

Reply #10

pumpi76 — Fri, 26 Feb 2010 06:59:23 GMT

there have been cases where people comit suicide because their numbers played and they didnt play them...I saw on a youtube video that has happened in the U.K...If is less than: $20 a year, or $30 a year i am fine with it...

It will take you 3 million years to win, you get your chance and you MISSED IT because you didnt play that day...Is bad enough to drive anyone to commit suicide, the idea that it will never come back to you again...Is like going to a time machine to the time of neandertha... [ More ]

Reply #9

badboy00z — Fri, 26 Feb 2010 06:36:52 GMT

IMO that is a pretty stupid idea. You're already spending a lot on the lottery. And like most of us losing more than we win. The odds of the games so are high that even if you play the same numbers every draw for the rest of your life, it's possible that you will never hit the jackpot. With MM and PB you can live over 17,000 lives (95 years each) and never hit. So with that in mind, would you still pay for insurance for a an event that is less likely than getting hit by a bus and then by lightni... [ More ]

Reply #8

pumpi76 — Fri, 26 Feb 2010 04:42:54 GMT

Are you saying that there is an insurance for whenever you are playing your numbers everyday and if you miss 1 day and it plays they pay you for the jackpot...Sounds like a great idea...They cant handle pick3 or pick4 only pick5, pick6 and powerball i would imagine...

but it should be a yearly bill and not a monthly bill, people got bills to pay...

i heard that ibesleeping numbers played and he didnt play them or something like that dont know if it was a Pick6 or Pick5...By now he would ha... [ More ]

Reply #7

Raven62 — Fri, 26 Feb 2010 03:07:18 GMT

In these hard times: Folks may have to start making their own again and avoid the Bars

Reply #6

Dollar419 — Fri, 26 Feb 2010 03:03:17 GMT

What would they think of next--Lottery Insurance??--with the extra money you spend on Lottery Insurance, you can play your chosen numbers in advance and keep the larger payouts--very bad idea...

Reply #5

sully16 — Fri, 26 Feb 2010 02:54:03 GMT

Insurance companies come up with as many ways to take our money as the gov. does.

Reply #4

four4me — Fri, 26 Feb 2010 02:52:40 GMT

You deciphered pumpi's post and came up with a good idea i wonder if this is exactly what he really meant to say.

Reply #3

rdgrnr — Fri, 26 Feb 2010 02:47:42 GMT

LOL! It'd have to be a lot less than my bar bill or I'd never be able to afford it!

A man's got to know his limitations.

Reply #2

Raven62 — Fri, 26 Feb 2010 02:44:41 GMT

Not to worry: It'll be less than your Bar Bill for the Year...

Reply #1

rdgrnr — Fri, 26 Feb 2010 02:35:27 GMT

Would the insurance cost less than it would cost to play the game for a year?

Sign me up

Didn't Play The Lottery Insurance

Raven62 — Fri, 26 Feb 2010 02:25:04 GMT

Protects you in case the worst should happen:

Some people find it hard to stop playing the lottery because they're worried that the very day they stop will be the day their lucky numbers are drawn, and they will tragically lose out on the dollars they are playing for.

DNPTL insurance saves you from this tragedy. You register your lucky numbers with the Insurance Company and tell it what games to follow, and from then on: if those numbers are ever worth a large prize, the Insurance Co... [ More ]