Welcome Guest
Log In | Register )
You last visited December 9, 2016, 2:19 pm
All times shown are
Eastern Time (GMT-5:00)

Hoosier Lottery

Topic closed. 66 replies. Last post 9 years ago by LOTTOMIKE.

Page 3 of 5
43
PrintE-mailLink
Guru101's avatar - rw6jhh
Indiana
United States
Member #48725
January 7, 2007
1954 Posts
Offline
Posted: August 5, 2007, 10:28 am - IP Logged

Well boys and girls the Hoosier Lottery's Lotto game rolled over again.  Almost 10 months and 86 draws later it now stands at $41.5 million.

Tune in next week for another exciting episode of:

As the Jackpot Rolls!

Jim 

Ya, the Hoosier Lotto jackpot rolls when there's no winner. That's why it rolled.

Gonna win.Big Smile

    jarasan's avatar - new patrick.gif
    Harbinger
    D.C./MD.
    United States
    Member #44103
    July 30, 2006
    5583 Posts
    Offline
    Posted: August 5, 2007, 11:03 am - IP Logged

    I think the new Hoosier Lottery motto should be:

    Hoos' your daddy?

    Idea

      RJOh's avatar - chipmunk
      mid-Ohio
      United States
      Member #9
      March 24, 2001
      19830 Posts
      Offline
      Posted: August 5, 2007, 11:38 am - IP Logged

      Two more drawings and PowerBall will have a jackpot worth driving to Indiana to play.  I'm starting to track Hoosier lottery results so if both games continue to roll, I'll be playing them both in a week or so. 

      It about time an Ohioan won the Hoosier lottery.  I remember years ago before Indiana had their lottery games some of Ohio lottery biggest jackpots were won by Hoosiers. Wink

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

        jarasan's avatar - new patrick.gif
        Harbinger
        D.C./MD.
        United States
        Member #44103
        July 30, 2006
        5583 Posts
        Offline
        Posted: August 5, 2007, 4:10 pm - IP Logged

        I think the new Hoosier Lottery motto should be:

        Hoos' your daddy?

        Idea

        OK one more refinement.

        Hoosier Daddy?

         

        P.S. RJ I know you can be its daddy.  Hyper

          RJOh's avatar - chipmunk
          mid-Ohio
          United States
          Member #9
          March 24, 2001
          19830 Posts
          Offline
          Posted: August 5, 2007, 8:09 pm - IP Logged

          OK one more refinement.

          Hoosier Daddy?

           

          P.S. RJ I know you can be its daddy.  Hyper

          If PB rolls to $180M+ and the Hoosier Lotto hasn't been hit, I going to give it a try.  Too bad I don't I have any Hoosier Lotto play slips at home, I'll have to fill them out once I get there.  To those Hoosiers who want their lotto won "Help is on the way".

            Avatar
            Indiana
            United States
            Member #29196
            December 29, 2005
            280 Posts
            Offline
            Posted: August 9, 2007, 8:34 am - IP Logged

            Well it's now official.  No Winner last night.  So there is a new Hoosier Lottery Lotto Jackpot record.  $42 million.

            Ten days shy of 10 months and 88 consecutive draws without a winner has produced the largest Hoosier Lottery Lotto Jackpot ever.

            I bet the good folks at the Hoosier Lottery are just bursting with pride!

            I wonder if they can set a real record to be proud of and go an entire year without a winner or if now that there's a new record someone will finally win?

            Stay tuned.

            Jim 


            Money frees you from doing things you dislike.  Since I dislike doing nearly everything, money is handy.  - Groucho Marx

              LosingJeff's avatar - flower
              Greenfield
              United States
              Member #3587
              February 2, 2004
              557 Posts
              Offline
              Posted: August 9, 2007, 10:33 am - IP Logged

              Well it's now official.  No Winner last night.  So there is a new Hoosier Lottery Lotto Jackpot record.  $42 million.

              Ten days shy of 10 months and 88 consecutive draws without a winner has produced the largest Hoosier Lottery Lotto Jackpot ever.

              I bet the good folks at the Hoosier Lottery are just bursting with pride!

              I wonder if they can set a real record to be proud of and go an entire year without a winner or if now that there's a new record someone will finally win?

              Stay tuned.

              Jim 

              Well lets not forget those big payouts on pic 3 and 4 yesterday! Whopping zero's everyday on pic 4 straight---I mean every day! This is beyond belief. Looks like Jim is right, 42.5 million here we come. Amazingly they must be having alot of players, yet noboby hits the pic4.

               

              Just look at the daily game payouts for the past week, month and year------------------

              " FUN IS BAD " ----causes Bankruptcy

                Guru101's avatar - rw6jhh
                Indiana
                United States
                Member #48725
                January 7, 2007
                1954 Posts
                Offline
                Posted: August 9, 2007, 10:44 am - IP Logged

                Well it's now official.  No Winner last night.  So there is a new Hoosier Lottery Lotto Jackpot record.  $42 million.

                Ten days shy of 10 months and 88 consecutive draws without a winner has produced the largest Hoosier Lottery Lotto Jackpot ever.

                I bet the good folks at the Hoosier Lottery are just bursting with pride!

                I wonder if they can set a real record to be proud of and go an entire year without a winner or if now that there's a new record someone will finally win?

                Stay tuned.

                Jim 

                How many tickets were sold?

                Gonna win.Big Smile


                  United States
                  Member #3676
                  February 10, 2004
                  425 Posts
                  Offline
                  Posted: August 9, 2007, 11:00 am - IP Logged

                  This jackpot wont have a winner for a long time now that Indiana has to make back the money they will lose with their crappy raffle!  Is it true the cash value on the Hoosier Lottery is only 40% of 42 mil?

                    Guru101's avatar - rw6jhh
                    Indiana
                    United States
                    Member #48725
                    January 7, 2007
                    1954 Posts
                    Offline
                    Posted: August 9, 2007, 11:33 am - IP Logged

                    This jackpot wont have a winner for a long time now that Indiana has to make back the money they will lose with their crappy raffle!  Is it true the cash value on the Hoosier Lottery is only 40% of 42 mil?

                    What's with this "only" stuff? "Only" 40% of 42 million? Even if it was exactly 40%, I'm sure that's a lot more than what you have right now. Also the Hoosier Lottery website states this:

                    Q. What is the difference between the cash option and the annuity option in the Hoosier Lotto game? A. The Hoosier Lottery advertises the estimated annuity jackpot. If you win, this jackpot amount is paid in equal annual payments over 30 years. However, within sixty (60) days of the drawing, the winner may elect to receive a cash option prize paid in one lump sum. The cash option will be approximately 40%-50% of the total annuity jackpot.

                    There you go.

                    Gonna win.Big Smile


                      United States
                      Member #3676
                      February 10, 2004
                      425 Posts
                      Offline
                      Posted: August 9, 2007, 12:00 pm - IP Logged

                      Uh 40-50% is one hell of a range, I dont care if you are talking one dollar or 40 million dollars. The Hoosier Lottery along with all lotteries are major rip offs. Taxation on taxation. I play these games because I can afford to throw away money but I feel so sorry for the people who play the lotto with meager means ( who the lottery markets towards) who are uneducated. They see $42 million dollars and they dont realize it is $18 million lump sum and then $ 10 million net.  I would say that is a pretty big difference then advertising $42 million no matter how "lucky" I would be to have it.  Sounds to me that the Hooiser Lottery with its RNG and its lump sum discretion is a corrupt state run lottery.  I am not one for conspiracy theories but it is a major league rip off.  It is amazing we put up with this. You are better off playing at the horse track, buying options, or even casino gambling.  At least Canada advertises lump sums and doesn't tax the lottery winnings.  Just another case of the govt continually misleading the public.

                        Guru101's avatar - rw6jhh
                        Indiana
                        United States
                        Member #48725
                        January 7, 2007
                        1954 Posts
                        Offline
                        Posted: August 9, 2007, 12:10 pm - IP Logged

                        Uh 40-50% is one hell of a range, I dont care if you are talking one dollar or 40 million dollars. The Hoosier Lottery along with all lotteries are major rip offs. Taxation on taxation. I play these games because I can afford to throw away money but I feel so sorry for the people who play the lotto with meager means ( who the lottery markets towards) who are uneducated. They see $42 million dollars and they dont realize it is $18 million lump sum and then $ 10 million net.  I would say that is a pretty big difference then advertising $42 million no matter how "lucky" I would be to have it.  Sounds to me that the Hooiser Lottery with its RNG and its lump sum discretion is a corrupt state run lottery.  I am not one for conspiracy theories but it is a major league rip off.  It is amazing we put up with this. You are better off playing at the horse track, buying options, or even casino gambling.  At least Canada advertises lump sums and doesn't tax the lottery winnings.  Just another case of the govt continually misleading the public.

                        Lets take another look at that statement:

                        Q. What is the difference between the cash option and the annuity option in the Hoosier Lotto game? A. The Hoosier Lottery advertises the estimated annuity jackpot. If you win, this jackpot amount is paid in equal annual payments over 30 years. However, within sixty (60) days of the drawing, the winner may elect to receive a cash option prize paid in one lump sum. The cash option will be approximately 40%-50% of the total annuity jackpot.

                        For everyone who keeps saying you're not getting the entire prize, you ARE!!!!!!!!!!!!!!!!!! The prize is advertised AS ANNUITY, NOT LUMP SUM. When you make the choice of having $18 million, which is about $13 million after taxes, that is your OPTION. The $42 million ANNUITY prize is *drumrolls* $42 million!!!!! I will say this once again, a prize is NOT just an amount of money, but also the TERMS that go along with that amount. In this case, $42 over 30 years. If you don't like it,

                        DON'T PLAY THE GAME!!!

                        Gonna win.Big Smile

                          Avatar
                          Indiana
                          United States
                          Member #29196
                          December 29, 2005
                          280 Posts
                          Offline
                          Posted: August 9, 2007, 12:18 pm - IP Logged

                          The Cash Value of the Hoosier Lottery is exactly 40%.  The information posted in the question and answer section which states it is between 40% to 50% is WRONG!

                          Former Executive Director Esther Q. Schneider changed it to exactly 40% at the same time she extended the annuity to 30 years (without increasing the annuity prize value) and when she eliminated the first rollover increase.  (i.e When the Hoosier Lottery Lotto game is reset to it's base prize...if no one wins it on the first draw the amount stays the same for the next draw.)

                          These changes were all done without making a public announcement and in violation of the IC Codes which state studies must be done in order to determine the effect the changes might have on player attitudes.

                          Let's do a little math:

                          $42 million Lotto prize.

                          At a 40% Cash Value = $16,800,000 

                          Minus 25% Federal tax = $12,600,000

                          Minus 3.4% Indiana state Income tax = $12,028,800

                          Minus County Income tax (Which varies from county to county but is at least .05% =  $12,020,400

                          So we see that the much vaunted $42 million jackpot means if you elect to take the cash you'll receive just over $12,000,000.  A nice chuck of change indeed but a bit short of $42,000,000.  $30 MILLION SHORT TO BE EXACT!

                          Oh and don't forget when you settle up with the IRS at the end of the year.  The tax liability on $42 million will be 35% of everything over (approximately) $325,000.  So you'll owe another 10% of the jackpot total or roughly $1,650,000 in additional taxes leaving you with approximately $10,370,400 or .2469% of the total jackpot.

                          Win $42 million.  Net $10.37 million.

                          Would I take $10.37 million.  Absolutely.  But this math goes to show that when you consider everything associated with it...$40% cash value and 39% total tax liability it is clear...Hoosier Lottery Lotto payouts are horrible!

                          Win $42 million and take home $10 million.  What a joke!  It just goes to show the legnths the lHoosier Lottery will go to in order to deceive players so they can sell tickets for what is in all probability a rigged game.  Including posting false information on their website about the Cash Value.

                          Let me close by asking all of you...who's really the big winner here? 

                          Jim 


                          Money frees you from doing things you dislike.  Since I dislike doing nearly everything, money is handy.  - Groucho Marx


                            United States
                            Member #3676
                            February 10, 2004
                            425 Posts
                            Offline
                            Posted: August 9, 2007, 12:18 pm - IP Logged

                            So why dont states just advertise $18 million lump sum oppposed to $42 million annuitized? Why bother? Cause they KNOW that most of the public is uneducated and they are looking to create false hype or interest by inflating the numbers.  State run lotteries are no better than enron or arthur andersen.  I love the fact that the Hoosier lottery will pay out net if hit this week about $12 million after taxes. . I wonder what they have taken in the past 42 weeks. I bet its surely a lot more than the 50% payback percentage the game should be paying out.  This hoosier lottery is probably a game in true value that has a 25-30% payback.  Once these lotteries start creating VALUE  for the players only then will they be able to take in more income instead of just rehashing and repackaging the same games and nonsense.  Like these bogus raffles. " The best odds ever to win a million"  Yeah sure, on a dollar per dollar basis and no lower prize levels its almost worse than a state lottery.  Spin spin spin.

                              Avatar
                              Indiana
                              United States
                              Member #29196
                              December 29, 2005
                              280 Posts
                              Offline
                              Posted: August 9, 2007, 12:30 pm - IP Logged

                              <>Well the Hpoosier Lottery's new raffle game is flopping big time!  They tell you it's the best chance ever to win a MILLION DOLLARS!  pffffffffbbbbbbbbbtttttt!

                              <>To date..after more than a month of sales they have only sold approximately 75,000 tickets at $20 each.  They have about 10 days to sell 250,000 more tickets.  Unless of course the information posted on the Hoosier Lottery website is wrong.  Perish the thought!

                              Spin Spin Spin is indeed correct!  As my father used to say:

                              They'd lie even if the truth served them better!

                              Jim 


                              Money frees you from doing things you dislike.  Since I dislike doing nearly everything, money is handy.  - Groucho Marx