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To SirMetro

Topic closed. 33 replies. Last post 10 years ago by rdc137.

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SirMetro's avatar - center
East of Atlanta
United States
Member #6191
August 11, 2004
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Posted: September 19, 2006, 4:48 pm - IP Logged

But YOU'RE not guaranteed to live 10 years, or even 10 more seconds.

And why does GA use the phrase "lump sum" in describing the quarterly payments?

First, I didn't disagree, however, I have a wife and daughter and knowing that they will be takened care of for 10 years is just fine by me.

Second, I am sure the phrase "Lump Sum" is used because the weekly payment of $1000 is consolidated into 4 equal quarterly payments. So again, your argument is invalid, in that multiple weeks is "LUMPED" together for fewer payouts thus permitting the use of the phrase "Quarterly Lump Sum Payments".

    SirMetro's avatar - center
    East of Atlanta
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    Posted: September 19, 2006, 4:55 pm - IP Logged

    This is the point I'm trying to make. Some US lottery games (online and scratch) don't have an annuity "option"; they force you to receive the annuity payments. And as for the prize being "guaranteed", there is no guarantee on how much longer you'll live.

    Uhmmm...by using the word "Force", are you implying that you are mandated to participate in the game to begin with? Last time I checked, the Lottery Games are optional. There is NOTHING out there to FORCE anyone to do anything. If a person does not like an annuity based game, they should not be stupid enough to play it. Otherwise, they are willingly inflicting misery upon themselves.

    And the prize being "guaranteed", it is enforced because it is made to your estate for the duration as defined by each State's Lottery Commision Rules. How long you live is meaningless and has no bearing whatsoever. So what if it offered a cash option, if you died before you can spend it, is it going to matter?

    Thus again, your arguments are invalid.


      United States
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      Posted: September 19, 2006, 6:39 pm - IP Logged

      Winners of these games I dislike are forced to receive annual/quarterly payments. Everyone knows that nobody is ever obligated to purchase a lottery ticket.

        TheTruth's avatar - Lottery-063.jpg
        Detroit, MI
        United States
        Member #43946
        July 27, 2006
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        Posted: September 19, 2006, 7:54 pm - IP Logged

        Wow, thats a very bright outlook on life lol. It looks like cash only likes lump sum, sirmeatro likes annuity...so why is there even an argument?

        "The happiest moment of your life will be the moment it ends...thats because it doesn't end but goes on in ways so magnificent, so full of peace - wisdom - and joy, as to make it difficult to describe  and impossible for you to comprehend"

        God

          guesser's avatar - Lottery-017.jpg

          United States
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          June 16, 2006
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          Posted: September 19, 2006, 8:21 pm - IP Logged

          Wow, thats a very bright outlook on life lol. It looks like cash only likes lump sum, sirmeatro likes annuity...so why is there even an argument?

          Mr. Truth, I don't get it myself.

           

          It would sure be a shame to be FORCED to take money a certain way for something you VOLUNTARILY paid to play in..... (sic) 

            sirbrad's avatar - Lottery-062.jpg
            PA
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            Posted: September 19, 2006, 9:02 pm - IP Logged

            I don't care what I win, either will make my financial situation a lot better than it currently is. If your not guaranteed to live even for 10 seconds, then what is to say you won't drop right after selecting a cash option? So I guess it doesn't really matter. What confuses me is why someone cares so much what other people are doing, and telling them what  and what not to play. That is the problem here. Whether you do it yourself or not is all that matters. When someone wins they are going to do what they want anyway, so it is all a waste of time.

              TheTruth's avatar - Lottery-063.jpg
              Detroit, MI
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              Posted: September 19, 2006, 9:51 pm - IP Logged

              But YOU'RE not guaranteed to live 10 years, or even 10 more seconds.

              And why does GA use the phrase "lump sum" in describing the quarterly payments?

              I laughed at this comment

              i promise you, when you do past on, money will be of no concern to you...in fact, It's to my understanding that life in the afterlife is like nothing here on earth. The life you experience "up there", is free from all the material we care so much about "down-here", because "up-there", not only can we have what we want, we can do absolutely anything we want beyond these physical means.

              I guess you would have to think of it this way...

              "At least those last 10 seconds of my life were one of the most exhilerating moments in my life"

              "The happiest moment of your life will be the moment it ends...thats because it doesn't end but goes on in ways so magnificent, so full of peace - wisdom - and joy, as to make it difficult to describe  and impossible for you to comprehend"

              God

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                Delaware
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                January 14, 2006
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                Posted: September 19, 2006, 11:44 pm - IP Logged

                PA started a $2-per-play 6/38 game less than two years ago, with a top prize of $3000-a-month-for-life, and no cash option. A fellow LP member said the game will be retired in December. There may be other factors, but the lack of a cash option has to be a big reason.

                The new GA-KY-VA game's novelty probably has started to wear off, and, in time, the lack of a cash option in GA and KY and the cheap lump-sum prize in VA will bring a premature end to it.

                I tested your theory on this.

                So far, since you first made your claim, I have asked over a dozen PA retailers if they knew anything about Lucky for Life closing down. None have. Further, one in Kennett Square explained that if the game were being closed down, they would have been informed if it were to happen in the next three months because their computer would not allow them to sell 26 draw tickets.

                Also, to test your theory, I used one of PA's self service ticket machines to attempt to purchase a 26 draw Lucky for Life ticket. It would have completed the transaction had I inserted the money, which means that Lucky for Life will be sold through at least December 18th. I will have to check this again once my 26 draw ticket runs out, and I'll report any updates.

                  sirbrad's avatar - Lottery-062.jpg
                  PA
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                  Posted: September 20, 2006, 1:10 am - IP Logged

                  I laughed at this comment

                  i promise you, when you do past on, money will be of no concern to you...in fact, It's to my understanding that life in the afterlife is like nothing here on earth. The life you experience "up there", is free from all the material we care so much about "down-here", because "up-there", not only can we have what we want, we can do absolutely anything we want beyond these physical means.

                  I guess you would have to think of it this way...

                  "At least those last 10 seconds of my life were one of the most exhilerating moments in my life"

                  I wonder if we go there all at once, or have the option to go a little at a time over 30 years?

                    sirbrad's avatar - Lottery-062.jpg
                    PA
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                    Posted: September 20, 2006, 1:14 am - IP Logged

                    I tested your theory on this.

                    So far, since you first made your claim, I have asked over a dozen PA retailers if they knew anything about Lucky for Life closing down. None have. Further, one in Kennett Square explained that if the game were being closed down, they would have been informed if it were to happen in the next three months because their computer would not allow them to sell 26 draw tickets.

                    Also, to test your theory, I used one of PA's self service ticket machines to attempt to purchase a 26 draw Lucky for Life ticket. It would have completed the transaction had I inserted the money, which means that Lucky for Life will be sold through at least December 18th. I will have to check this again once my 26 draw ticket runs out, and I'll report any updates.

                    Last I talked with the PA lottery they said they have no plans of changing the game. They claim it is "what the people want." I personally would love to know who these people are, as I did not get a vote. I requested that they drop the game to $1.00, and/or raise the prize to at least $5,000 a month for life. If they did that, no cash option would not bother me in the least. I would also play more, and they are losing money because of the $2.00 price. At least from me.

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                      Delaware
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                      Posted: September 20, 2006, 9:49 am - IP Logged

                      Last I talked with the PA lottery they said they have no plans of changing the game. They claim it is "what the people want." I personally would love to know who these people are, as I did not get a vote. I requested that they drop the game to $1.00, and/or raise the prize to at least $5,000 a month for life. If they did that, no cash option would not bother me in the least. I would also play more, and they are losing money because of the $2.00 price. At least from me.

                      I agree with you, and I'll take it a step further. I'm guessing that their justification for the extra dollar is that instant match game. Here's a thought: Make it an optional add-on. If you are familiar with NJ's Pick 3/4 and FL's Fantasy 5, each of those has an optional instant match add-on. PA's could work the same way, instead of the time-based pseudo-number B.S.


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                        Posted: September 20, 2006, 3:15 pm - IP Logged

                        I tested your theory on this.

                        So far, since you first made your claim, I have asked over a dozen PA retailers if they knew anything about Lucky for Life closing down. None have. Further, one in Kennett Square explained that if the game were being closed down, they would have been informed if it were to happen in the next three months because their computer would not allow them to sell 26 draw tickets.

                        Also, to test your theory, I used one of PA's self service ticket machines to attempt to purchase a 26 draw Lucky for Life ticket. It would have completed the transaction had I inserted the money, which means that Lucky for Life will be sold through at least December 18th. I will have to check this again once my 26 draw ticket runs out, and I'll report any updates.

                        Then it looks like the end of Unlucky for Life and the beginning of the replacement game will be an Xmas present.

                        If you have to play the PA lottery, Match 6 is a much better game, and much more exciting.

                          sirbrad's avatar - Lottery-062.jpg
                          PA
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                          Posted: September 20, 2006, 5:15 pm - IP Logged

                          Match 6 is only a better game when it is at least $2 million or more. At least for me, as I do not even bother with it if it is lower than that. Especially the after tax pay out. I would need at least a million after taxes in order to fully enjoy myself without a job. The problem with match 6 is, it is a very slow climb into the millions. Another problem is that when it finally gets there, there are usually multiple winners which decreses your jackpot dramatically.

                          I don't play for chump change, I play to win big. Not to say that winning smaller amounts is bad, I would just prefer infinite financial freedom as that is why I play. One thing I do like about match 6 is the two extra lines, however I do not like that you cannot pick them. I would still take a lucky for life win right now over a $500-$1,000,000 cash payout (pre-tax.)

                          I also like 38 balls as opposed to 49.

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                            Delaware
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                            Posted: September 20, 2006, 5:34 pm - IP Logged

                            Then it looks like the end of Unlucky for Life and the beginning of the replacement game will be an Xmas present.

                            If you have to play the PA lottery, Match 6 is a much better game, and much more exciting.

                            I have 26 draw tickets for both games with my favorite numbers.

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                              Delaware
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                              Posted: September 20, 2006, 5:42 pm - IP Logged

                              Match 6 is only a better game when it is at least $2 million or more. At least for me, as I do not even bother with it if it is lower than that. Especially the after tax pay out. I would need at least a million after taxes in order to fully enjoy myself without a job. The problem with match 6 is, it is a very slow climb into the millions. Another problem is that when it finally gets there, there are usually multiple winners which decreses your jackpot dramatically.

                              I don't play for chump change, I play to win big. Not to say that winning smaller amounts is bad, I would just prefer infinite financial freedom as that is why I play. One thing I do like about match 6 is the two extra lines, however I do not like that you cannot pick them. I would still take a lucky for life win right now over a $500-$1,000,000 cash payout (pre-tax.)

                              I also like 38 balls as opposed to 49.

                              Delaware's (Multi-Win Lotto) odds are actually better because they only use 35 balls, however, the jackpot is seldom won because it starts at $50K, increases $2000 per draw, and draws 3 times per week. Its a bit of overkill, plus its a computerized game.

                              Now just to make matters interesting, when I picked up my tickets today in Dover, the clerk was talking to an apparent regular about the lack of sales for the Multi-Win Lotto and said that his understanding is that game will be replaced by the end of the year with a "regular" lottery game again. I did try to get more information, but the clerk said he didn't know anything else.