Estimated jackpot vs. Actual cash value

Reply #15

billionaire2bee — Tue, 12 Mar 2013 12:03:41 GMT

NC lottery also e-mails you results if you sign up with their luck-e zone....also we can now enter our losing draw tickets for second chance drawing too..used to be just scratch-offs...but yeah I don't think they will change the way they promote it, but I have to sometimes remind myself it won't the advertised amount you'll win....I have to calm my excitement....so to speak ....LOL LOL

Reply #14

Coin Toss — Tue, 12 Mar 2013 04:49:03 GMT

PlayToWin47,

The Missouri lottert will send you e-mails with the results of the game you choose and the advertised and cash jackpots.

____________________________

Re: The OP,

billionaire2bee,

I doubt the lottries would change the way they do it now. It sounds better for them and you have to consider that not sll payers are as informed as people here on LP. If the lottieries dropped the advertised jackpot amounts and just mentioned the cash amount there's a lot of people out there... [ More ]

Reply #13

PlayToWin47 — Tue, 12 Mar 2013 04:32:25 GMT

I'm fine with how they do it now.

At least on the lotteries I play, they mostly advertise the annuity amount, but on the web sites, they show the cash amount below in smaller print.

Reply #12

RJOh — Tue, 12 Mar 2013 04:22:44 GMT

Estimates of lottery jackpots and cash values are usually conservative and based on realistic sales expectations. Many times when jackpots are large and there's a ticket buying frenzy, they are adjusted upward after someone wins.

Reply #11

dognabit — Tue, 12 Mar 2013 02:32:30 GMT

I saw a billboard for the lottery. It said, Estimated lottery jackpot 55 million dollars. I did not know that was estimated. That would suck if you won and they said, Oh, we were off by two zeroes. We estimate that you are angry.

Mitch Hedberg

RIP

Reply #10

mcginnin56 — Mon, 11 Mar 2013 20:37:52 GMT

Reply #9

jimmy4164 — Mon, 11 Mar 2013 20:30:07 GMT

billionaire2bee,

It's actually more complicated than meets the eye. Here's everything you ever wanted to know about estimating jackpots. And more!

For those who think they've found an edge in one of their studied games, this also tells them what to expect if they try to exploit it.

http://www.mass.gov/ig/publications/reports-and-recommendations/2012/lottery-cash-winfall-letter-july-2012.pdf

--Jimmy4164

p.s. For those who ALREADY KNOW all about this, I knew too. However, it address... [ More ]

Reply #8

rdgrnr — Mon, 11 Mar 2013 18:03:04 GMT

It don't make no nevermind to me.

Reply #7

Ronnie316 — Mon, 11 Mar 2013 17:21:46 GMT

I like the idea of the deceptively false advertised amount. It makes the jackpot grow bigger faster.

Reply #6

savagegoose — Mon, 11 Mar 2013 17:17:45 GMT

i would also prefer the cash option advertised over than annuity. i can go find my own investments. so maybe both would be better.

Reply #5

Ronnie316 — Mon, 11 Mar 2013 17:09:33 GMT

Reply #4

RJOh — Mon, 11 Mar 2013 17:06:48 GMT

The cash value is estimated too, it's based on expected sales. Maybe they should do away with both and just surprise the winners.

Reply #3

dallascowboyfan — Mon, 11 Mar 2013 13:14:09 GMT

Nope.

Reply #2

hearsetrax — Mon, 11 Mar 2013 12:45:30 GMT

me thinks your friend thinks too much and needs one of these ASAP

Reply #1

mcginnin56 — Mon, 11 Mar 2013 12:23:46 GMT

No.

Estimated jackpot vs. Actual cash value

billionaire2bee — Mon, 11 Mar 2013 12:02:11 GMT

Does anyone think they should do away with the estimated jackpot and just post the actual cash values??? A friend of mine thinks it false advertisment....but I told them that its estimated that that's what you'll end up with IF you take the annunity....but like with powerball where it's 183 million vs. the actual cash value of 121 million...Me personally I couldn't care less...112 million is more than I or anyone could ever earn in our lifetimes....but what do you think?? Is it misleading or not... [ More ]