Some players annoyed by re-writing slips used 'for years'; don't understand new jackpot options
As the Florida Lottery made changes to its Lotto game, a Lauderhill woman claimed the $3 million jackpot from the March 1 game.
Melony Gregory, of Lauderhill, chose the one-time, lump-sum payment, and will receive $1,711,642 after taxes.
Meanwhile, Lotto players faced a slightly longer wait to purchase tickets for Wednesday night's drawing, the first since the Florida Lottery made changes to Lotto that rendered the old playslips obsolete.
The change allows players to spend $1 or $2 extra to increase the size of the Lotto jackpot.
Wednesday's jackpot was $3 million and a $1 ticket bought a chance to win that amount. Under the new setup, a player who spends $2 on a single set of numbers was playing for a $13 million jackpot and a player who wagered $3 on a single set of numbers was going for a $28 million pot.
Some retailers said players were much more aggravated by having to fill out new playslips than they were eager to spend an extra dollar or two to increase the size of the jackpot.
"They don't quite understand it and they are very annoyed because they had to change all their forms," said Daniel Nass, one of the owners of Old City Newsstand near A1A in Lauderdale-by-the-Sea. "They will come in with five or more slips at a time already filled out and have been using it for years. You try and explain the $2 option or $3 option on six numbers, and when they finally understand it, they don't want to do it."
Nass said many of his customers are elderly and some think the new ticket options are a scheme that should be avoided.
"It needs time and Lotto needs to explain it with their advertising. It's not a bad system but people seem not to want to spend an extra $2 or $3 per line," he said.
Switching numbers from an old playslip to a new one isn't simple because the number grids are different.
Gregory's winning Lotto Quick Pick ticket was purchased at the Shop N Save at 4428 Inverrary Blvd. in Lauderhill. The retailer received a bonus incentive of $10,000 for selling the winning ticket. The winning numbers were: 02-20-23-33-43-50.
If there's a very good chance of not winning the jackpot, while would anyone want to pay an extra dollar or two for the privilege?
I'll bet there are going to be lots of jackpot winners who going to regret not spending an extra 1 or 2 for the bigger jackpot.
That was my point too.
If I felt strongly about a few sets of numbers, I would definitely give it a try. I'm not sure I would play it every time, but there is a big difference between $3 million and $28 million.
True, every jackpot winner may wished he had spent an extra dollar or two for an extra $10M or $25M but he will be only 1 in 22,957,480 ticket holders, the rest are going to be happy they didn't because the amount they win is not effected. If spending the extra dollars on more chances resulted in the player winning the jackpot then he's going to be happy too.
New york has a similar game called NYlotto. For an extra $1 all the prizes doubles except the jackpot. The jackpot remains the same. I Like the Florida's game better.
If you are a jackpot winner and youve won millions who is going to regret not spending an extra buck
youre still the first place winner and anything over a million dollars is enough to be satisfied with.Just be happy you won thats all that really matters.
If that buck would have been the difference between 3 mil and 13 mil, I'd regret it for a bit. Face it, 3 mil isn't much. In my state after taxes it'd be around 1.6 mil. That's definitely nothing to sneeze at, and would provide for a comfortable life if you're careful and spend it wisely. But 13 mil would be almost 8 mil after taxes. With 8 mil you could help others if you wish, and still have enough that you could splurge on some stuff and wouldn't have to spend ever dollar wisely.
So yeah I'd regret it for a while, but I'd be too content with my 1.6 mil to worry about it for too long.
Quick note, Lilly. That $3 million is about $1.7M cash which after taxes would be around $1.1M. The extra dollar adds a bonus, but in the form of an annuity. It's still a lot of money, but I just wanted to clarify that point. I'm pretty sure you can still take it as a lump sum, but it's nowhere near $10M. Cash payouts for FL Lotto average 55% to 60%.
I agree. I would be happy with the fact that I actually won a jackpot in the first place. It's not as if it's easy to win one any old time.
Ah well that fact makes it even worse. LOL 1.1 mil doesn't go far these days.
Well I guess I can say that if you want to win over 20 mil,just have a little patience.
After consecutive draws and no one hits the jackpot the rollovers will soon push the jackpot past the 25 million dollar mark,then play for $1 per ticket.
Further more , when nobody hits that particular jackpot of lets say about 3 million,the jackpots themselves rolllover and increase(what im saying is you dont have to spend one dollar extra to increase the jackpot it will increase by itself as the rollovers continues).So, when you add the additional dollars to your original bet,you also increase the jackpot prize yet again.Now, this innovative idea has merit, but only if you just play when there is a huge jackpot.And even then only when there is a low starting jackpot.If you are a regular player, then the additional dollars tacked on to your original wager are waste.All they do is to serve as a "greed tax upon yourself."
The Official FL Lottery Site indicates that the $2/$3 plays for Lotto can be claimed as cash also. It seems like I can not post the link. Anyway, if I did play the new game, I would choose the $2/$3 option. After all, that is how I break even in PB playing the PowerPlay. LOL!
But the lower prizes aren't multiplied in FL Lotto! Only the jackpot.
So I'd play $2 until the base jackpot got high enough that a win would ensure a very comfortable life. For me, that would be around 8 million which I estimate would be around 3 mil after taxes. When the base jackpot (paid on a $1 ticket) got over that amount I'd drop back to buying the $1 ticket.
I would be in heavy regret if I won only $3 million when I could have won 15 million with an extra $1 or 28 million with 2 more dollars. Instead of going to
I will be headin back to 
(work) First the tax man takes their cut. 3 - 1.3 = 1.7 remain. Then my wife takes her cut. 1.7 - 1.6 = 100,000. lol
Oh well, Good Luck to all who play.
aint that the truth! But its a lot easier going back to worth with a few hundred thousand in the bank account. Work isnt so bad then.
Lets see, $2.00 gets you $13 million. $3.00 gets you $28.00. This confuses the masses? The scary part, these same people who are confused about a simple lotto ticket are going to decided who is the next President of the United States! Remember the chad? W-O-W !
Obviously confused me, meant $3.00 gets you $28 Million. Either way, I didn't have to take my shoes off to count, just had to take typing lesson.
Yes, mylollipop. Guess I wasn't too clear in my post. What I meant is that the extra bonus is paid over 30 years, just like the Lotto jackpot. That doesn't mean you can't opt for a lump sum, but it's the same as when you win any jackpot. Example: the jackpot for Wed is advertised as $10, $20 or $35 million. You either are spending $1 for the $10M jackpot, $2 for the $20M jackpot or $3 for the $35M jackpot. All of these jackpots are paid over 30 years. If you want the cash option, the lump sum value averages 55% of the jackpot (whether it's $10, $20 or $35 million)
At first it sounded as if the bonus was $10 million on top of the jackpot, which it is, but not a cash prize. This goes back to the "misleading advertising thread" LOL The way they are now displaying the jackpot(s) is a lot clearer to me.
The Powerplay is entirely different because it multiplies the lesser prizes. The new FL bonus does not have any effect on 5/6 or 4/6, just the jackpot.
"The sad thing is all they have to do is go to the website and it plainly tells you what to play and what you will get for your play! DUH! "
Not everyone spends a lot of time on the internet reading about the lottery or puts winning the jackpot at the top of their to-do list. I don't think you read the article clearly. This was not a NEW game. People are just not interested in spending the extra dollar. I don't see the problem here.
What's interesting is on the one hand people will call my home state "Floriduh" and joke about the people here, especially the older folks, and on the other they'll complain about all the wealthy people in the big mansions. So how can these people who have retired comfortably, live in nice homes and spend their days playing golf, be complete imbeciles?
"The scary part, these same people who are confused about a simple lotto ticket"
Again, there's a difference between being confused and simply being uninformed. There was very little advertising about this change. I also know people who never watch TV. All of a sudden people who have played for years are being told to complete new cards. The only question I've heard is "why do I need to complete a new card?" Doesn't sound to me as if they're very confused. I also went to the counter with my old cards, so I guess that makes me one of "these people." The redesigned cards should have been available months ago, not just a few days before the change took place. They weren't even at most retailers until last week!
"are going to decided who is the next President of the United States!"
I hope this is an accurate statement, since 1.7 million voters clearly chose Hillary Clinton by an overwhelming margin.
"Remember the chad?"
Yup, and remember whose brother was Governor of FL in 2000?
The first winner(s) of the new option on the Florida Lotto will definitely get the publicity! It will boost the new game options for sure. Speaking of anonymity, maybe states that do not allow can modify their stance. They can validate the state's need to make sure the person is legit by verifying the data needed and keep that information confidential. Just the fact that a verifying sysyem validated the winner should be enough. I saw in another post where someone mention that something drastic might have to happen before states banning annonymity will ease up. The Louisiana Lottery used to have a jackpot starting much higher than it does now. But someone sued them because they assumed/misunderstood something about the jackpot. They won and the end result was the Louisiana Lotto Jackpot no longer starts as a base minimum of $3,000,000.00. I think it is something like starting at $250,000.00 or $500,000.00.
Afterall, income from the lottery is reported to the IRS. And the SS#, age, DOB, etc is IRS knowledge. Does it have to be PUBLIC knowledge!???
I agree & they definitely will make a big deal if the winner uses the option. I hope they are keeping this honest. As long as the drawings are ball drawings and they are televised live, I'll trust them. Obviously they would like the Lotto winner to be someone who spent $3 so they can promote it. I heard an ad on the radio today and it sounds like one of those car ads that quickly say "tax, title, doors, tires, engine, not included." They say "paid over 30 years years" I bet there are a lot of people who think it is a $10M cash bonus. I understood what you wrote before about the cash option, but they will still pay only 50 to 55% of the bonus if you take it as a lump sum, so it's really more like a $5M bonus for the extra dollar.
They might make it a bigger deal if a winner does not use the option by saying what they could have won for a buck more.
I don't know how they can offer a cash option and still make a profit because they need at least $5M in bonus sales just to break even. Taking the cash for the regular jackpot and getting payments for the next 29 years on the $10M bonus give winners added security.
If Mega Millions or Powerball added an option of taking half in cash and the rest in payments it would make that choice easier for the winners and end all the "cash or payment" arguments on LP.
Stack, I was thinking about that option too. I'll look at the site again, but I didn't think you could choose one payment or the other. I thought it was just annuity (30 year annual payments) or a lump sum. I'm pretty sure I'm right, but I've been mistaken once or twice in my life. LOL Once I thought I was wrong and I found out I wasn't, so that's being wrong, right?
The jackpot reads: $13 million, $23 million, $28 million
So to me that means you get the entire jackpot in whatever form you choose, cash or payments, not the base jackpot and the bonus separately. Maybe I need to look further for a better explanation, but it isn't critical, since I won't be spending the extra money. Since I play 4 Lotto combinations twice a week, for me it would mean adding $8 or $16 a week to my spending, which is not even a consideration!
"Speaking of anonymity, maybe states that do not allow can modify their stance."
The lotteries are run by the state and are public agencies so the information is public record but some state lotteries have chosen not disclose it to the news media. It would take the news media a few weeks to get the info but don't because who wants to read or hear old news.
Newspapers have been reporting public information like birth, deaths, marriage licenses, divorces, and property sales for decades.. You might read where your neighbor was charged with a crime or a traffic violation even though they are innocent.
Any state could modify their stance but why should a jackpot winner get the right to privacy when other citizens buying and selling property or being charge with a crime can't?
The person who wrote the "How to win" section certainly did a nice job of creating confusion.
It looks like if you bet $1 you're playing for $13M, $23M for $2, and $38M for $3. They call the $13M the base jackpot and $2 players will get that plus $10M from that pool and the $3 players will get a bonus of $15M from that pool if there is only one winner.
If there are three winners, one from each pool:
"Each winner will receive 1/3 of the base jackpot prize; the $2 and $3 players will each receive 1/2 of the $10 million from the $2 jackpot prize pool; and, the $3 player will receive the entire $15 million from the $3 jackpot prize pool. If the base jackpot is $3 million, the $1 player will win $1 million, the $2 player will win $6 million and the $3 player will win $21 million."
Payment options:
"Players may choose to receive their portion of the FLORIDA LOTTO jackpots in a one-time Cash Option payment or in 30 annual payments. The Cash Option payment is the amount required on the day of the drawing (or if the drawing is held on a Saturday or holiday, the business day prior to the drawing) to fund the applicable jackpot prize paid over 30 – years, less applicable taxes. "
I guess it depends on how much it would cost to fund total jackpot prizes of $28M but that would still be around a $14M payoff on a base jackpot of $3M using their example. Do they really believe bonus sales will be $11M just to break even?
"If there are multiple winners, the base jackpot, the $2 jackpot prize pool and the $3 jackpot prize pool will be shared among winners who are eligible for that prize pool. "
How can it get any more simple? Each level is a separate pari-mutuel prize, so it gets split among every winner who played that level.
As a long-term average they can expect to collect almost $46 million for each time they have to pay the $25 million annuity or $15 million in cash. I think that gives them a decent shot at doing a bit more than break even.
"How can it get any more simple?"
Oh, to me it's simple. No matter how high the jackpot gets or how many bonuses they offer, I never win anything! LOL
Seriously, all I ever pay attention to is the base amount. If I am "unfortunate" enough to only win $13 million tonight, then I'll have to grin & bear it. :-) If I have to split $13 million with another winner and he spent the extra $2 or $3, I'll still get $6.5M and what he gets doesn't really matter. It would be like winning $3 million one week and feeling that I was cheated just because others have won so much more. I'm already neurotic enough without letting this stuff worry me.
"As a long-term average they can expect to collect almost $46 million for each time they have to pay the $25 million annuity or $15 million in cash. I think that gives them a decent shot at doing a bit more than break even."
The Mega Millions jackpot has been hit two draws in row and the Florida Lotto has a much lower matrix. If the base jackpot is only $3 million, they could still have to payoff the $10 and $15 million bonuses. Where exactly does the "$15 million in cash" come from?
The $15 million, just like the money for every other lottery prize, comes from all of the tickets that have to be sold to get a winner. Any game with a minimum payout might lose money (or make less than anticipated) on any individual drawing, but probability guarantees that they will make almost exactly what they expect in the long run.
The odds of winning the Florida game are are roughly 1 in 23 million, so they can expect to sell 23 million tickets for every ticket that wins the jackpot. That's true for the base jackpot and the bonus jackpots. Suppose 1/3 of tickets play only the base jackpot, 1/3 of the tickets play the $10 million bonus and 1/3 play the $25 million bonus. The expected result after selling 69 million tickets would be 3 winning tickets. 1/3 of those 3 would have played and won only the base jackpot, 1/3 would have played and won the base and the $10 million bonus, and 1/3 would have played and won the base and the $25 million bonus.
It's no different than a game that only sells chances at a $25 million jackpot, charging $2 for a 1 in 23 million chance of winning. Sometimes they'll sell only 5 or 10 million tickets and get a winner, and other times they'll sell 40 or 50 million tickets before getting a winner. On average they'll sell 23 million tickets for each winner. Selling 23 million tickets at $2 each brings in $46 million, which leaves a lot of profit after paying out $15 million.
FWIW, the the PB run that ended tonight sold about 463 million tickets before producing tonight's winner. That more than makes up for the occasions where they pay out a $7 million jackpot when somebody wins on first drawing that only sold 10 million tickets.
I was looking at it as two games, one where the payoff depends on the play and one with a fixed payoff. The lottery has already factored in the affect on the profits so I doubt they would even offer the bonuses if they thought the profits would go down. The profit percentage will probably go down but with more sales overall profits should be higher.
In many ways it's three games. There's the base level jackpot, the $10 million bonus and the $15 million bonus. You can play game 1 by itself, but inorder to play game 2 you have to play game 1. To play game 3 you have to play game 2.
I would assume the lottery put some effort into the effect the new game will have, but it's also possible they're just figuring they can't really lose. About the worst that will happen is that almost nobody will play the bonus levels, and they'll be stuck with some marketing and startup costs. There's a chance that there will be a winner before they've sold enough tickets to cover the bonus prizes, but how likely that is depends on how many tickets are sold. The more likely it is to happen, the less their exposure, because they'll have collected more money. The likely outcome is that they'll make a substantial profit each time they have to pay the bonus. Assuming they keep the bonus and the long term result is that it does what probability suggests their percentage will go up. Collecting $46 million each time you pay $15 million gives you a profit of 67%. I'm assuming the regular lotto game is about 50%.
Yahoo! I am going to have my brother buy me an advance draw ticket for the Florida lottery...since I am inconveniencing him to get it for me while he is in the area, I am only going to purchase a $1 advance draw to cover half the year. But let one of my destinations be anywhere in Florida, I will buy the same half year advance draw on a $3 ticket. Why? Because I always play to win and I figure when I win, I would prefer an extra $25 million on top of the base prize amount. Besides, the times I lose will only help out the Florida education system...or pad the pockets of the Florida lottery executives in the form of fat bonuses. But hey, it is my choice to play in the manner I play and I am okay with that.
No kidding. Especially since I didn't scan anything in there saying that the extra buck or two would increase any lower tier prize that you could win. It just increases the jackpot, which already has extremely high odds. You'd be better off spending the money on another ticket.