Please Reveal Cash Value Formula for Illinois' "Lotto" Game

Reply #5

Coin Toss — Fri, 15 Jun 2018 23:29:47 GMT

I wasn't aware of some of this but I can't see anyone stretching out a $4.5 million jackpot (currently) over 30 years.

I know it gets higher but it's usually hit before it gets pumped up.

Reply #4

Raven62 — Fri, 15 Jun 2018 15:57:04 GMT

Illinois Lottery FAQ:

Can I Receive My Prize As A One-Time Cash Payment?

It depends. For Mega Millions, Powerball, and Lotto, winners have 60 days, beginning with the day after the drawing to decide between a one-time lump sum, or a 30-year annuity. The one-time cash option amount is based in part on current U.S. Treasury bond prices. The websites for Mega Millions and Powerball contain the estimated, lump-sum cash value for their respective jackpots.

Those who make a claim 60

Reply #3

Sarge0202 — Fri, 15 Jun 2018 15:16:10 GMT

HaveABall,

According to online rules at http://www.illinoislottery.com/content/dam/ill/documents/GameRules.pdf

The lotto has a 30 year annuity option (page 22). The cash value, according to page 25 is:

Grand Prize winners who select the Cash Option will

receive the proceeds from the sale of the U.S. Government

securities purchased to fund the annuitized

Grand Prize, less bank handling charges incurred in the sale.

As for a calculation, I would estimate it similar to the PB... [ More ]

Reply #2

Coin Toss — Fri, 15 Jun 2018 03:46:23 GMT

HaveABall,

If you're talking the 6/52 game it's a state lottery game. It's not like Mega Millions or Powerball. there's is no advertised jackpot value as opposed to a cash option, it's whatever the jackpot is minus taxes for the winner or winners.

When there is no jackpot winner it increases $250,000.

No winner tonight, June 14, so right now it's $4.5 million.

Reply #1

msmillionaire — Fri, 15 Jun 2018 01:13:18 GMT

HELLO HaveABall---- just a suggest play all even one night and the next night all odds , i won a few times playing this way!!!HAPPY WINNINGS

Please Reveal Cash Value Formula for Illinois' "Lotto" Game

HaveABall — Thu, 14 Jun 2018 21:06:18 GMT

Hello piers,

Please Reveal Cash Value Formula for Illinois' Lotto Game.

I've been searching for months, with no success yet.

Happy Flag Day folks and thanks, in advance, for this vital information