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• JimmySand9

  

  United States
  Member #1,826
  July 11, 2003
  2,645 Posts
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  Jul 18, 2005, 2:16 pm

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  What do you think? Annuity jackpots are good because it gets more players thinking that the jackpot is bigger than it really is, so they buy on impulse, which gets the jackpots moving faster. On the other hand, seriously, who takes the annuity anymore anyways?
  

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• Maverick

  

  USA
  United States
  Member #8,242
  October 29, 2004
  1,133 Posts
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  Jul 18, 2005, 3:48 pm

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  True.

  If I was a lottery official, I'd say more annuity games with cash option, to serve the people who like annuity.

  To Lotteries: Stop recording our # combinations, and figure out another way to rollover the $$$.
• dvdiva

  

  United States
  Member #2,338
  September 17, 2003
  2,063 Posts
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  Jul 18, 2005, 4:34 pm

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  People who like annuities can buy one. Leave the cash amount as the only amount just so there is truth in advertising for once. If states are also interested in drumming up sales then pass a bill at the federal level to exempt winning state lottery earnings from federal income tax. That way their games have a leg up on online games or casinos.
  
• JimmySand9

  

  United States
  Member #1,826
  July 11, 2003
  2,645 Posts
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  Jul 18, 2005, 5:05 pm

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  Quote: Originally posted by dvdiva on July 18, 2005

  People who like annuities can buy one. Leave the cash amount as the only amount just so there is truth in advertising for once. If states are also interested in drumming up sales then pass a bill at the federal level to exempt winning state lottery earnings from federal income tax. That way their games have a leg up on online games or casinos.
  

  I definately think there should be a federal standard on how to run a lottery. Such would need to enforce the following.

  •    
  • Make sure that all prizes advertised are the net result. If it's annuity, say the actual amount per year and for how many years, not the total at the end of the annuity.
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  • Make sure all people above the age of majority are allowed to purchase tickets.
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  • Make sure payouts are fair

  And most importantly...

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  • Make sure all game are drawn with mechanical ball draw machines. 

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• RJOh

  

  100

  mid-Ohio
  United States
  Member #9
  March 24, 2001
  20,272 Posts
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  Jul 20, 2005, 4:30 pm

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  I would like for the states to offer a flexible annuity plan with several choices.  Maybe offer all cash or  annuities with 10, 15 or 20 years payout and an option of taking 50% both ways.  When it comes to a $25M+ annuity, I would feel more comfortable with the State because it's backed by the tax payers.  Recently Ohio lost more than $250M of the state worker retirement funds by allowing political friends to handle the money, but the workers will still get their money even if the state has to increase taxes.  Unlike a financial planner, the state can't say "sorry" and go bankrupt and problem gone or it hasn't so far. 

  RJOh

   * you don't need to buy every combination, just the winning ones * 

         
  
• CASH Only

  United States
  Member #379
  June 5, 2002
  11,296 Posts
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  Jul 29, 2005, 4:18 pm

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  MA Megastinks, OR Lose for Life, PA Unlucky for Life...they don't listen.
• CASH Only

  United States
  Member #379
  June 5, 2002
  11,296 Posts
  Offline
  Jul 30, 2005, 12:43 pm

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  That's MA Mega$.uck$ to you and me.