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Mega Winners In Lotto

Topic closed. 26 replies. Last post 9 years ago by manzplan.

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lacie's avatar - radar
jacksonville, fl.
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Posted: June 3, 2007, 12:27 pm - IP Logged

Why can't A lottery state, Like Florida, come up with lottery Game that pays out more than 1 Grand Prize

I'm not talking about a raffle, but a lotto game, that lets say has a one time payout of 20 million dollars. Instead of just 1 prize they give out say 15- 1million dollar payouts and the other 5 milion is divided up among the lower tier winners.

The tickets would have to be numbered so everyone had an equal chance.

I ,for one, would play that game until the cows come home. As it is know I never play lotto, unless, its really big, because the odds are so great against you.

Does anyone think this a good Idea?

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    Sunny California
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    Posted: June 3, 2007, 12:45 pm - IP Logged

    I have said the same thing myself,let more people win instead of one! It's a GREAT idea but unfortunately BIG prize money is what brings out people's wallets. $1 Million dollars doesn't sound as enticing as $50 Million....though it does to me! I'd settle for "just a mil" anytime!

      RJOh's avatar - chipmunk
      mid-Ohio
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      Posted: June 3, 2007, 1:26 pm - IP Logged

      States aren't into lottery games to just give away money.  States generally are willing to contribute some money to get a game started but people have to like the game enough to contribute the rest and states expected to keep 40% to 50% of sales as their share for running the games. 

      For payouts of fifteen $1M top prizes a state would need to raise $30M+ with ticket sales before the drawing. When multi-state lotteries PB and MM have starting jackpots of $12M and $15M (Cash ~$7M) they can only sell $12-$15M worth of tickets nationwide per drawing, I doubt if a state could do better on its own.

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

        justxploring's avatar - villiarna
        Wandering Aimlessly
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        Posted: June 3, 2007, 1:32 pm - IP Logged

        I'm not sure what you mean, Lacie.  Can you elaborate? Last night Florida Lotto was $20 million.  This is a pari-mutuel state, so the jackpots are always based on the money collected from ticket sales.  2 people hit, each with a QP, which is very unusual.  I wouldn't mind sharing with them and ending up with 1/3 of the pot (about $225,000 a year for 30 years)

        The current Raffle tickets went on sale May 18th I believe.  There are still about 830,000 tickets left out of the 1.5 million sold - more than half.  That means it will take about a month for the 1.5M tickets to be sold.  $20 x 1.5M = $30 million.  I know you said "not a raffle" but I am using this example to show what the state need to collect for a payout.  The Lotto pays a 55% payout and most of the jackpot games are similar.  MegaMoney pays an average 65% for a lump sum, because it's a 20 year annuity, not 30.

        Here are the payouts for the July 4th Raffle. 

        $1M prize - 12 players or $12 million

        $100K prize - 25 players or $2,500,000

        $10K prize - 200 players or $2 million

        TOTAL PAYOUTS = $16,500,000  (55% of the jackpot)

        So the Lottery collects an amount of $30 million to pay winners $16.5M right?  It doesn't matter if it's a raffle or other type of game.  There has to be enough money collected toward the a jackpot.  Now what you are suggesting is that someone pay for a ticket where there are approx 38 million tickets sold (if they are $1 each) or even 19 million tickets sold (at $2 each) for only one single chance at winning.  The odds of this game would never justify buying a ticket, in my humble opinion.

          lacie's avatar - radar
          jacksonville, fl.
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          Posted: June 3, 2007, 1:52 pm - IP Logged

          I have said the same thing myself,let more people win instead of one! It's a GREAT idea but unfortunately BIG prize money is what brings out people's wallets. $1 Million dollars doesn't sound as enticing as $50 Million....though it does to me! I'd settle for "just a mil" anytime!

          Lottolaughs, When It gets to 50 million thats about when I start playing, before that forget it.

           I think thats why you have so many early on rollovers because not that many people play for the small Jackpots. I remember years ago If you won 3 million you would be one of the richest people in town.

          I think that over here in Florida you have many older people on fixed Incomes that do not play because the odds are so high that to them its just a waste of money. I think that a game like this would bring people out in droves for every game that the state played like this no matter how many times they played It a week.

          It would'nt have to be a Million dollars, they could make it any amount they wanted, 2 Million, 3 million, just so more people we're winning BIG.

            justxploring's avatar - villiarna
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            Posted: June 3, 2007, 2:01 pm - IP Logged

            I totally disagree with you about the older people in Florida. Where I live, they have most of the money!  Do you read the press releases?  There are many winners in their 70s and 80s.

              lacie's avatar - radar
              jacksonville, fl.
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              Posted: June 3, 2007, 2:33 pm - IP Logged

              I totally disagree with you about the older people in Florida. Where I live, they have most of the money!  Do you read the press releases?  There are many winners in their 70s and 80s.

              Well I'm glad that where you live all the old folks have the money, but you come up to my neighborhood and for some reason there's not a millionaire on my street. I'm 65 and retired and so are a lot of the other folks in my neighborhood, we don't have to go to a soup kitchen to eat but I can assure you its no cake walk to be of this age and on a fixed Income. I think I would like to come to your neighborhood and see if they have had to put  their children through college, pay for our grand childrens education and take care of my mothers expences because she is not rich and needs my help to hopefully reach her 84th birthday. Walk a mile in my shoes justxploring.

                lacie's avatar - radar
                jacksonville, fl.
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                Posted: June 3, 2007, 2:53 pm - IP Logged

                I'm sorry everyone, I got a little upset and got away from the subject matter.

                What I wanted to do and I can see that my point was missed was try to figure out how to have more than 1 winner in the lotto. 15 was not a good number to use lets not put a number on this. How can we have more jackpot winners than 1 while keeping the prize money up around a million dollars?

                I would think that some how it could be done, but maybe not.

                  justxploring's avatar - villiarna
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                  Posted: June 3, 2007, 3:22 pm - IP Logged

                   Walk a mile in my shoes justxploring.

                  How do you know I haven't, Lacie?  For all you know I am very ill and living on disability.  I just said I disagreed with you because of FACTS.  The average home in FL was selling for more than $350,000 over the past several years (much more in areas like Naples, Sarasota and Miami) and the population soared.  These were not poor people who were buying second homes for that price. You must have heard of The Villages.  It's one of the largest retirement communities in the state and the average home there is over $300,000, although right now home prices are dropping all over FL.  Did you know that Florida has more golf courses than any other state in the entire USA? Anyway, I never said all of the people here have money. 

                  By the way, Lacie, I think I've been more than kind to you on this board.  (I don't want to elaborate.) I also don't want to get into an argument, but I want to say that, to me, 65 isn't very old.  Your comment above says:

                  I can assure you its no cake walk to be of this age and on a fixed Income.

                  I agree with you 100%.  At any age, unless the fixed income is quite generous, it would be difficult to get by as prices increase. However, I don't think 65 is very old at all.  Most 65 year olds I know are working and those who retire at 65, do so out of choice.  I don't like to get personal on forums, because you could be disabled or ill.  But if you're not and you are 65 and retired, you are doing a lot better than many of my friends.  You know as well as I do that Publix, Walgreen's and other stores like WalMart and KMart employ a lot people over 65.  Some work because they don't get enough social security and need the money to pay bills and others simply work to enjoy a better lifestyle or to help their children and grandchildren. Also, if they get benefits, they can save on medical expenses.  I worked in a 30,000 sq ft furniture store a few years ago and I was the only person out of 5 salespeople who was under 65.  So what I am saying is that often "fixed income" is a choice, although I realize that many times it isn't.

                  I don't know how we got into this conversation, but my statement about all the older people who win the lottery remains true.  Here are some very recent press releases, all within the past 6 months.

                  The Florida Lottery announced today FLORIDA LOTTO™ winner Audrey Dunneback, 73, of North Port, claimed the May 2 estimated $26 million FLORIDA LOTTO jackpot in the name of the Maggie and Mitzie Revocable Trust.

                  The Florida Lottery announced today FLORIDA LOTTO™ winner William Cody, 68, of Lake Hamilton, claimed the May 5 estimated $3 million FLORIDA LOTTO jackpot.

                  The Florida Lottery announced today FLORIDA LOTTO™ winner Frank Incantalupo, 71, of Pembroke Pines claimed the March 17 estimated $15 million FLORIDA LOTTO jackpot.

                  The Florida Lottery announced today that FANTASY 5® winner William R. Steely, 71, of Rotonda West, claimed the July 15 $283,801.28 FANTASY 5 top prize.

                  The Florida Lottery announced today FLORIDA LOTTO™ winner Roberto Acevedo, 71, of Miami, claimed the Dec. 13 estimated $6 million FLORIDA LOTTO jackpot.

                  The Florida Lottery announced today MEGA MONEY™ winner Roy Cooper, 80, of Milton, claimed his share of an estimated $900,000 MEGA MONEY jackpot. The drawing held on Dec. 15 produced two jackpot winners.

                  The Florida Lottery announced today MEGA MONEY™ winner Betty Wild, 64, of Port Orange claimed the March 16 estimated $2 million MEGA MONEY jackpot.

                    justxploring's avatar - villiarna
                    Wandering Aimlessly
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                    Posted: June 3, 2007, 3:45 pm - IP Logged

                    Sorry to everyone about the long post.  I was having trouble with the fonts and I meant to highlight all of the quotes from the FL web site in red.  I ran out of time!  LOL

                    Anyway, I stopped at the above examples, because I think I made my point.  Just using percentages, it has to be very obvious that many, many seniors buy lottery tickets.  Honestly, I wasn't arguing with Lacie here.  I was "attacked" as if I'm some kind of snob and all I was doing was disagreeing with a statement that was incorrect.  I usually don't claim to know something unless I have facts from reading the newspaper or other sources of information.

                      lacie's avatar - radar
                      jacksonville, fl.
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                      Posted: June 3, 2007, 4:05 pm - IP Logged

                      Sorry to everyone about the long post.  I was having trouble with the fonts and I meant to highlight all of the quotes from the FL web site in red.  I ran out of time!  LOL

                      Anyway, I stopped at the above examples, because I think I made my point.  Just using percentages, it has to be very obvious that many, many seniors buy lottery tickets.  Honestly, I wasn't arguing with Lacie here.  I was "attacked" as if I'm some kind of snob and all I was doing was disagreeing with a statement that was incorrect.  I usually don't claim to know something unless I have facts from reading the newspaper or other sources of information.

                      Well I certainly did not mean to attack you. but Quite honestly that was my exact thought when you said "where I live they have most of the money" well that certainly sounded snobish to me.

                      You are probably 1000 percent right that many winners are in their 70's and 80's. I don't know because I never looked it up.

                      We may totally disagree with each others point of view and thats fine because that is why we live in this country.

                      So if I caused you any Grief I am very sorry, I would like to put this whole thing behind us and start all over on a new page and enjoy ourselves on this wonderful site

                      I think we can leave the bickering to the younger crowd

                      Thank You,

                      Lacie

                        justxploring's avatar - villiarna
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                        Posted: June 3, 2007, 5:18 pm - IP Logged

                        Lacie, I wasn't bickering.  I don't think stating facts is bickering.  Also, I am not disagreeing with your point of view because a point of view is different from a fact based on actual events.  In other words, if you said the President of the United State was Mickey Mouse, I'd have to disagree with you (although I sometimes think he's pretty Goofy! lol)   You are admitting that you "never looked it up" when I said that many of the winners here are over 65.  I didn't run to the FL site to make my point either.  When I first said "I disagree" it was based on actual drawings posted on the Florida web site and in the newspaper.  I am not a stubborn person who insists she's right.  It is what it is.

                        I also don't know why my statement about the residents here would sound snobbish since I could be one of their maids for all you know.  Also there are lots of multi-million dollar homes in Jacksonville too.  Ponte Vedra and Amelia Island ain't so cheap either. I've been all over Florida and there is a great concentration of wealth in this state. Most of the money in FL is spent by retirees (and tourists of course.)   That doesn't mean there aren't people over 65 who need to make a choice between a hot meal and prescription medication.  But there are also single moms and dads and entire families living in shelters.  In fact, there are more younger people moving OUT of Florida because it's so unaffordable.  The Middle Class is disappearing. This topic has been in the news continuously for the past couple of years.

                        Thanks for your gracious last post.  You didn't cause me any grief.  I was only contributing information and sharing my ideas as we all do on this board.   

                          RJOh's avatar - chipmunk
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                          Posted: June 3, 2007, 5:32 pm - IP Logged

                          I'm sorry everyone, I got a little upset and got away from the subject matter.

                          What I wanted to do and I can see that my point was missed was try to figure out how to have more than 1 winner in the lotto. 15 was not a good number to use lets not put a number on this. How can we have more jackpot winners than 1 while keeping the prize money up around a million dollars?

                          I would think that some how it could be done, but maybe not.

                          Getting upset doesn't change the fact that for every dollar paid out in lotteries prizes, states need to collect two.  Even when they give back 50% of sales to the players in prizes they still have to pay the stores that sell the tickets, the staff that manage the game and maintain the playing equipment and make a profit too. 

                          For every player who wins a million dollars there has to be enough players willing to spend two million dollars to win nothing, states can't give out more money than players are willing to gamble and lose.

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

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                            Posted: June 3, 2007, 6:02 pm - IP Logged

                            Well I'm glad that where you live all the old folks have the money, but you come up to my neighborhood and for some reason there's not a millionaire on my street. I'm 65 and retired and so are a lot of the other folks in my neighborhood, we don't have to go to a soup kitchen to eat but I can assure you its no cake walk to be of this age and on a fixed Income. I think I would like to come to your neighborhood and see if they have had to put  their children through college, pay for our grand childrens education and take care of my mothers expences because she is not rich and needs my help to hopefully reach her 84th birthday. Walk a mile in my shoes justxploring.

                            "Well I'm glad that where you live all the old folks have the money, but you come up to my neighborhood and for some reason there's not a millionaire on my street." 

                            I know many retired people that have winter homes in Florida and are far from being Millionaires. They probably used the majority of their nest egg to purchase their Florida home and are free of house payments so their spending habits are the same whether they are there or in Ohio.

                            Just-ex isn't saying all the old folks in Florida are wealthy; just that many of them in her neighborhood are pretty well off.

                              justxploring's avatar - villiarna
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                              Posted: June 3, 2007, 6:35 pm - IP Logged

                              Thank you, Stack47.  That's correct.  Many people who move here have saved for many years to buy their retirement homes.  However, I really didn't mean to make this thread subjective.  I was only referring to the number of winners in FL who are over 60 since Lacie said that she believed seniors don't play as much, being on fixed incomes.  Judging from all the news releases, it's apparent that senior citizens play quite a bit.  In a way we're all on "fixed" incomes unless we get better jobs, raises or a second part-time job.  Anyway, a ticket is only a dollar so many people, even those on a tight budget, might feel that spending 1 or 2 dollars a week for a shot at millions is worth it. It's no different than treating yourself to an ice cream cone (except where can you find an ice cream cone these days for under $3?) 

                              One more thing (I sound like Columbo. lol)   I don't mean to "hijack" this thread, but have to clear something up here.  Even if I were wealthy, that would be okay, since everyone should be welcome here.  It's a myth that well off people don't buy lottery tickets.   But when I said where I live I was really talking about the surrounding areas and South Florida in general.  I wasn't talking about my next door neighbors necessarily.  (Actually most of them probably don't have green cards.)  However, there are plenty of people with beach houses that sell for over $3 million right down the road as there are in other beachfront communities all over the country.  This also applies to areas in the mountains too like Western NC.  There are people living in small cabins or mobile homes and a mile way there are estates.  That's life.