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Gas For Life - Florida Lottery

Topic closed. 20 replies. Last post 8 years ago by pumpi76.

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justxploring's avatar - villiarna
Wandering Aimlessly
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Posted: July 13, 2008, 3:36 am - IP Logged

I originally started to post this in the scratch-off forum, but I then realized this isn't a scratch-off game at all! It's more like a weekly raffle.  The cost for each ticket is $5.   There will be 8 weekly drawings with one weekly $250,000 grand prize, five Gas For Life ($52,000 cash) second prizes and fifty Gas For a Year (26 $100 prepaid gas cards) as the 3rd prize.  I've seen this game advertised and there are big signs at the retailers, but I never paid much attention to them.  I already spend too much on the jackpot games!!

Anyway, a local man was on the evening news this week because he won Gas For Life.  I just saw another article in the Naples Daily News, so he's quite a celebrity just because he won $52,000!  The prize is 26 $100 prepaid gas cards per year for 20 years or life (minimum guarantee 20 years)   He took the cash option and got a check for $39,000 after tax.   I think I'd take the cash too, although who knows what gas will cost in 10 years? 

Thinking about the prize  - what if we don't use gasoline in 20 years?  Maybe they should call it "fuel for life" and cover the cost of charging up a car!   I bet most of the Gas For Life winners will take the cash option.

So how many LP members would take the Gas For Life prize?  Is your state offering similar games? 

    sirbrad's avatar - Lottery-062.jpg
    PA
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    Posted: July 13, 2008, 3:42 am - IP Logged

    With gas rising the way it is, I doubt $52,000 will be enough for gas for life.

      justxploring's avatar - villiarna
      Wandering Aimlessly
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      Posted: July 13, 2008, 3:48 am - IP Logged

      I agree.  So would you take the gas instead?  I think the 70 year old winner had a good point.  After all, my Dad was retired and only had about 40,000 miles on his 1998 Grand Marquis when he died last year. 

      For people who commute long distances to work, I agree that $2,600 a year definitely won't cover gas costs for a lot of people.  I know lots of people who now spend more than that on gas.  Still, I'd take the cash, not the gas cards.  With $39,000 (net) you could go out and buy a new, more fuel efficient car!  lol   (or you could pay your mortgage for a couple of years)

      I'm really starting to think like an LP member ....  give me the cash now!  LOL

        time*treat's avatar - radar

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        Posted: July 13, 2008, 4:38 am - IP Logged

        If the game is the same as my state's, the fine print says the amount of gas (now and in the future) is based on current average prices and a yearly maximum number of gallons. Under that formula, there is a fixed cash value so there is no advantage to holding off until gas prices move.

        The gas angle is just for people more inclined to operate on emotion and not read the little writing. If food prices had doubled, they'd have called it "Groceries for Life".

        In neo-conned Amerika, bank robs you.
        Alcohol, Tobacco, and Firearms should be the name of a convenience store, not a govnoment agency.

          Raven62's avatar - binary
          New Jersey
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          Posted: July 13, 2008, 9:27 am - IP Logged

          It's a good Bet: We won't be using Gasoline to Power Automobiles in 20 Years!

          A mind once stretched by a new idea never returns to its original dimensions!

            duckman's avatar - ducklogodrake64x64
            Jacksonville Florida
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            Posted: July 13, 2008, 12:29 pm - IP Logged

            I bought one of those $5 Summer Cash/Gas tickets and won $25 instant cash. Every 27th ticket was a $25 instant winner. The ticket didn't win any of the prizes for the first week's drawings but it was nice to hear the lottery terminal play a song indicating it was an instant winner of $25.

            Smiley

              tntea's avatar - Lottery-059.jpg

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              Posted: July 13, 2008, 12:33 pm - IP Logged

              I would take the cash too.   I don't pay for gas anyway, so it wouldn't help me.

                   OLD/Vtrac   Lottery Bible         Double Warnings      Thumbs Up TN F34/F44

                justxploring's avatar - villiarna
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                Posted: July 13, 2008, 12:39 pm - IP Logged

                Thanks, Raven.  That's what I was saying.  Anyway, who really knows what she'll be doing in 20 years from now?  May I'll win the lottery and move to North Captiva where there are no gas powered vehicles! 

                Time*treat, in my second paragraph I explained that the "for a year" winner gets gas cards equal to $2,600 for a year (no cash option)   I believe the Gas For Life prize is the same with a cash option.  I don't think there is a maximum or minimum amount of gallons or the price of the gas matters. 

                That's why I said I think everyone will take the cash since the prize is limited to $2,600 a year anyway.

                I've received cards as gifts & rebates and I think they're a pain.  There's always a small balance and then you have to look for something to buy and add cash.  The retailer usually comes out ahead every time which is probably why they sell them!   If you don't use the entire amount on the card, they still have the money.  (and of course it's prepaid too) 

                  justxploring's avatar - villiarna
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                  Posted: July 13, 2008, 12:40 pm - IP Logged

                  I bought one of those $5 Summer Cash/Gas tickets and won $25 instant cash. Every 27th ticket was a $25 instant winner. The ticket didn't win any of the prizes for the first week's drawings but it was nice to hear the lottery terminal play a song indicating it was an instant winner of $25.

                  Smiley

                  That's great, duckman.  I also think it's a good idea that they print a coupon for the instant cash so you keep the original ticket for the drawing.  Congrats! 

                    Coin Toss's avatar - shape barbed.jpg
                    Zeta Reticuli Star System
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                    Posted: July 13, 2008, 1:28 pm - IP Logged

                    Kind of like the Chicago Cubs and "The Curse of the Billy Goat", but I can just see winning something like this- and the next day the government announces (or admits) there is an alternative fuel and we don't need gasoline anymore!

                    Those who run the lotteries love it when players look for consistency in something that's designed not to have any.

                    Lep

                    There is one and only one 'proven' system, and that is to book the action. No matter the game, let the players pick their own losers.

                      ThatScaryChick's avatar - x1MqPuM
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                      Posted: July 13, 2008, 2:35 pm - IP Logged

                      I would probably take the cash also. Who knows if we will even be using gas 10 years down the road. We may be using another source of fuel soon. Plus, I would rather just have the money. Then I can use it for what I want.

                      Big Grin

                      "No one remembers the person who almost climbed the mountain, only the person who eventually gets to the top."

                        justxploring's avatar - villiarna
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                        Posted: July 13, 2008, 3:45 pm - IP Logged

                        I wonder if the newspaper article is wrong.  Why would a lump sum be equal to the prize value?  The winner got $52,000  - a check for $39,000 which they said was after 25% federal tax.  Usually, when there is a game that pays for life or 20 years, the lump sum is the value x 65%.  Some people win cash for life games like $100,000 a year and opt for the lump sum and it's never $2 million.  It's closer to $1.3M.   To me, if they are offering the entire $52,000 less taxes it's a no-brainer.  Oooh. Shame, shame.  Look at this article about the lottery prizes.  The comments are so negative and they're saying people who bet on the lottery are idiots!

                         http://www.thetruthaboutcars.com/gas-or-cash-lottery-players-fuellish-ways/

                          Coin Toss's avatar - shape barbed.jpg
                          Zeta Reticuli Star System
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                          Posted: July 13, 2008, 6:53 pm - IP Logged

                          As for the payouts, perhaps "voodoo" accounting.

                          Re: the remarks about lottery players, could be just jealousy.

                          Those who run the lotteries love it when players look for consistency in something that's designed not to have any.

                          Lep

                          There is one and only one 'proven' system, and that is to book the action. No matter the game, let the players pick their own losers.

                            justxploring's avatar - villiarna
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                            Posted: July 13, 2008, 6:58 pm - IP Logged

                            As for the payouts, perhaps "voodoo" accounting.

                            Re: the remarks about lottery players, could be just jealousy.

                            I Agree!

                            I mean, how can anyone say that people who play the lottery are bad in math after coming to this site?  I've never met so many people who are good with manipulating numbers and using numerical software until I found LP.   I still believe most jackpots are won because people are lucky, but that doesn't stop me from trying! 

                              JAP69's avatar - alas
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                              Posted: July 13, 2008, 7:31 pm - IP Logged

                              For the mathematicaly challenged.

                              $39,000.00 put into a yield bearing acct would buy how much gas on the yield.

                              How about the ones who win it and do not even have an auto.

                              MAGA