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PB annuity

Topic closed. 17 replies. Last post 11 years ago by ryanm.

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Posted: June 23, 2005, 6:50 pm - IP Logged

Another poster says PB will change its annuity so that if somebody makes the wrong choice, their payments will increase each year (eg CA Super Lotto Plus).

This would expain why PB will start at $15 million with guaranteed $5m jumps.

    LOTTOMIKE's avatar - cash money.jpg
    Tennessee
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    Posted: June 24, 2005, 10:19 pm - IP Logged

    thats something i didn't know that,thanks.


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      Posted: July 20, 2005, 5:42 pm - IP Logged

      CT Gov Jodi Rell doesn't like the PB annuity. She should remember PB has a cash option.

        Bradly_60's avatar - disney37
        Atlantic Mine, Michigan
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        Posted: July 20, 2005, 5:57 pm - IP Logged

        I think they are just trying to find a way to advertise higher jackpots.  You know that many many people every year are taking the cash option.  What is it like down to 3 or 4 that took the annuity last year.  They know that people don't take the annuity so why not make it easier to raise the jackpots faster.  I think the age of annuities are over.  I think all lottery games should be cash only.  Annuities are something of the past.

        Brad


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          Posted: July 20, 2005, 6:08 pm - IP Logged

          brad:

          Tell that to the Mass & NY lotteries, which have annuity-only scratch games (MA Mega$uck$ as well).


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            Posted: August 17, 2005, 4:45 pm - IP Logged

            Does anyone know the new annuity schedule? I heard the payments would increase 4% per year.

              dvdiva's avatar - 8ball

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              Posted: August 18, 2005, 12:19 am - IP Logged

              I'm surprised you of all people would worry about the annuity payouts. I'm just wondering if the cash prize amount changed. I think it used to be 51.5% or close to that.

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                Morrison, IL
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                Posted: August 18, 2005, 3:44 pm - IP Logged

                I think they are just trying to find a way to advertise higher jackpots.  You know that many many people every year are taking the cash option.  What is it like down to 3 or 4 that took the annuity last year.  They know that people don't take the annuity so why not make it easier to raise the jackpots faster.  I think the age of annuities are over.  I think all lottery games should be cash only.  Annuities are something of the past.

                Brad

                  Two Powerball winners took the annuity this year, but one only did by default because he waited too long to claim his prize.  Also, there probably wouldn't have been any annuity takers if Powerball didn't get hit so many times this year.

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                  New Mexico
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                  Posted: August 18, 2005, 4:48 pm - IP Logged

                  I think they are just trying to find a way to advertise higher jackpots.  You know that many many people every year are taking the cash option.  What is it like down to 3 or 4 that took the annuity last year.  They know that people don't take the annuity so why not make it easier to raise the jackpots faster.  I think the age of annuities are over.  I think all lottery games should be cash only.  Annuities are something of the past.

                  Brad

                  We can probably speed the day when they're a thing of the past, you and I, by speaking out as frequently as the opportunity allows about precisely what annuities are..... that they're merely an abdication of control of the exact amount of the jackpot for lottery authorities to invest for 30 years at the poorest interest rate they can find. 

                  Until that fact is generally understood by winners people will continue to encourage them to push the annuities, to present the future lousy interest earned on their own jackpot money as part of the prize.

                  Prize! Ha!

                  Jack

                  Absorb the good, ignore the bad, weigh the ugly.

                  It's about number behavior.

                  Egos don't count.

                   

                  Dedicated to the memory of Big Loooser

                   

                    weshar75's avatar - Lottery-042.jpg
                    Mcminnville, Oregon
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                    Posted: August 21, 2005, 7:33 pm - IP Logged

                    I am curious about how the new annuity payments will be paid over the 30 annual payments?

                      dvdiva's avatar - 8ball

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                      Posted: August 22, 2005, 3:43 am - IP Logged

                      I'm still waiting for an answer on the cash amount.


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                        Posted: August 27, 2005, 6:54 pm - IP Logged

                        Another poster says PB will change its annuity so that if somebody makes the wrong choice, their payments will increase each year (eg CA Super Lotto Plus).

                        This would expain why PB will start at $15 million with guaranteed $5m jumps.

                        I agree what you said CASH Only about PB payments increase each year just like CA SLP. If I won a big jackpot, I would likely take the one time lump sum because Uncle Sam would take money away only once. If I took payments, Uncle Sam would take away money each year, but I get a gradual increase. Lets hope PB has lots of winners, but no jackpot winner, and one PB ticket breaks the North American jackpot record of 363+ million because PB is going to have restrictions of 25 million at a time when it hit 340 million.

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                          Morrison, IL
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                          Posted: August 27, 2005, 11:17 pm - IP Logged

                            Yes, and with them changing their annuity payouts, that means more cash in the match 5+0 bonus pool when they get record jackpots!!!

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                            IL
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                            Posted: August 28, 2005, 4:14 pm - IP Logged

                            I'm still waiting for an answer on the cash amount.

                            The cash amount is going to be alot less since the advertised jackpot is with 30 years of growing payments. Pretty soon they will go with a 50 year annuity, so they can advertise 100 million jackpots on a 20 million jackpot.

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                              New Mexico
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                              Posted: August 28, 2005, 4:19 pm - IP Logged

                              I'm still waiting for an answer on the cash amount.

                              The cash amount is going to be alot less since the advertised jackpot is with 30 years of growing payments. Pretty soon they will go with a 50 year annuity, so they can advertise 100 million jackpots on a 20 million jackpot.

                              I'd say you're predicting the inevitable. 

                              Jack

                              Absorb the good, ignore the bad, weigh the ugly.

                              It's about number behavior.

                              Egos don't count.

                               

                              Dedicated to the memory of Big Loooser