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Powerball Cash Option

Topic closed. 13 replies. Last post 11 years ago by CASH Only.

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weshar75's avatar - Lottery-042.jpg
Mcminnville, Oregon
United States
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December 13, 2003
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Posted: September 18, 2005, 1:54 pm - IP Logged

I noticed that the cash option for powerball is less then half the annuity now.  For a 108 million it is 53.1 million cash.  I guess that is how the cookie crumbles! 


    United States
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    Posted: September 18, 2005, 1:56 pm - IP Logged

    weshar:

    Don't tell me you think the PB annuity is better. Why would ANYONE prefer a 30-year annuity with payments increasing each year, over lump sum?

      DoctorEw220's avatar - alien helmet.jpg
      Yinzer Country, PA
      United States
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      Posted: September 18, 2005, 1:56 pm - IP Logged

      remember that they restructured the annuity payments now.

      I've redone my website.  Go to www.dr-ew.com.  I kept a lot of the old stuff, and I've added some new stuff.  Look for more new stuff in the coming weeks.

        weshar75's avatar - Lottery-042.jpg
        Mcminnville, Oregon
        United States
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        Posted: September 18, 2005, 2:03 pm - IP Logged

        weshar:

        Don't tell me you think the PB annuity is better. Why would ANYONE prefer a 30-year annuity with payments increasing each year, over lump sum?

        I share the cost of the tickets with my parents so when we win the powerball we are going to take the cash option.  I just thought it was interesting that the cash is lower than half the annuity jackpot. 


          United States
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          Posted: September 18, 2005, 2:06 pm - IP Logged

          weshar:

          I seem to remember annuity values more than double the (theoretical) cash value when players didn't have a choice. Interest rates were much higher then.

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            md
            United States
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            April 20, 2005
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            Posted: September 19, 2005, 11:22 am - IP Logged

            Lowering the cash option is not the thing for the officials to have done.  With that said, all players from here on should take the cash option in all games.  Then use the money wisely.  As Michael Malone stated "One of the best ways to win any game is to write the rules."  If you take the Cash Option, you will write the rules yourself.   


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              Posted: September 19, 2005, 11:25 am - IP Logged

              del:

              I don't know for sure about Maryland, but some games (certain scratch tickets, as well as MA Megabucks) are still annuity-only. Neither OR Lose for Life nor PA Unlucky for Life have a cash option.

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                md
                United States
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                Posted: September 19, 2005, 11:28 am - IP Logged

                Cash-

                 

                Thanks.  I mean any game that has the option of cash or annuity, all players should just check CASH!


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                  Posted: September 19, 2005, 11:30 am - IP Logged

                  del:

                  Obviously. And games that DON'T have a cash option should be boycotted.

                    RJOh's avatar - chipmunk
                    mid-Ohio
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                    March 24, 2001
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                    Posted: September 20, 2005, 1:27 pm - IP Logged

                    Lottery commissions don't care about players who boycott their games as long as there are enough players interested in them to make them successful.  I seldom play any of the scratch-off games and yet new scratch-off games come out every week.  Some scratch-off games would not be attractive to  enough players without the annuities.

                     * you don't need to buy more tickets, just buy a winning ticket * 
                       
                                 Evil Looking       

                      dvdiva's avatar - 8ball

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                      September 17, 2003
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                      Posted: September 20, 2005, 8:51 pm - IP Logged

                      I think it just delays when I buy Powerball tickets. It's too bad people haven't noticed this scam of giving less than half as a cash alternative.

                        Bradly_60's avatar - disney37
                        Atlantic Mine, Michigan
                        United States
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                        June 23, 2002
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                        Posted: September 20, 2005, 8:53 pm - IP Logged

                        The value of the cash option has not changed!!!!  They just changed the way the annuity number is derived.  The same percentage of sales goes to the cash option.  The way they changed the annuity lets the cash option become more over the 29 years.  That's what accounts for the difference.  They aren't giving any less money to the players.  Just inflating the annuitized jackpot.

                        Brad

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                          Morrison, IL
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                          Posted: September 20, 2005, 11:19 pm - IP Logged

                          which is why I keep saying all lottery games should pay cash only, no annuity bulls**t


                            United States
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                            Posted: September 21, 2005, 11:27 am - IP Logged

                            "...all lottery games should pay CASH Only..."

                            I'll gladly take all the money from all lottery games, except the annuity-only ones LOL