Didn't Play The Lottery InsurancePrev Topic Next Topic

New Topic New Poll

jwhou

United States
Member #83,698
December 13, 2009
225 Posts
Offline

Feb 26, 2010, 3:10 pm

Quote: Originally posted by Raven62 on Feb 25, 2010
Protects you in case the worst should happen:

Some people find it hard to stop playing the lottery because they're worried that the very day they stop will be the day their lucky numbers are drawn, and they will tragically lose out on the dollars they are playing for.

DNPTL insurance saves you from this tragedy. You register your lucky numbers with the Insurance Company and tell it what games to follow, and from then on: if those numbers are ever worth a large prize, the Insurance Company will pay you that prize in full: even if you also played and won the prize on your own!

But, the Insurance Company doesn't pay any 2nd or lesser prizes. It is only catastrophe insurance, in case by some miracle your hit a straight or a jackpot.

DNPTL is *not* the same as a lottery subscription or other automated lottery instrument, and because the odds are precisely known, insurance companies could offer this coverage at an affordable price.

And should one of their clients do win the Jackpot and they had been unable to sell the risk as repackaged commercial securities then they would just declare bankruptcy.

Great business idea.
Raven62

25

New Jersey
United States
Member #17,842
June 28, 2005
180,983 Posts
Offline

Feb 26, 2010, 3:21 pm

Quote: Originally posted by jwhou on Feb 26, 2010
And should one of their clients do win the Jackpot and they had been unable to sell the risk as repackaged commercial securities then they would just declare bankruptcy.

Great business idea.

The new way is: Go to Washington and get a Bailout: The only folks not getting a Bailout are on Main Street!

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

Catch-22: A dilemma or difficult circumstance from which there is no escape because of mutually conflicting or dependent conditions.

Corruptissima re publica plurimae leges: When the republic is at its most corrupt the laws are most numerous.

The best way to learn is to never stop being an Experiential Student!
RJOh

100

mid-Ohio
United States
Member #9
March 24, 2001
20,272 Posts
Offline

Feb 26, 2010, 4:13 pm

DNPTL insurance saves you from this tragedy. You register your lucky numbers with the Insurance Company and tell it what games to follow, and from then on: if those numbers are ever worth a large prize, the Insurance Company will pay you that prize in full: even if you also played and won the prize on your own!

Insurance Companies charge fees for covering you risk, and they usually make money doing it. Do you think they would charge an annual fee that would be less than you would have to pay a state for a year subscription to cover your numbers for a year?

* you don't need to buy every combination, just the winning ones *
pumpi76

Honduras
Member #20,981
August 29, 2005
4,715 Posts
Offline

Feb 26, 2010, 4:38 pm

they dont have to play each day, i dont know how they are going to cover Powerball which the prize can go up to: 150 million....but the regular Pick6 and Pick5 can be done...Is similar to free lottos they take out insurance for it...

What are the odds that 1 person with 3 tickets will win...It may take that person: 8 years before she can see a win...And it will be 1 person out of: 200,000 people...All they need is to get the enough amount of people...600,000 people x $50 = 30 million in 2 years...60 million in 4 years: 120 million...And remember is going to take those 200,000 people 8 years for 1 out of those 200,000 to come out a winner and if is Pick6 how much is that person going to win: $3 million-$6 million...in 8 years they will have: 240 million dollars...They can place $50 million in the bank and the 2.3 million a year can go towards paying people that won: $50,000 or $200,000 dollars on pick5, while the time passes by in 12 years they will have: 360 million dollars....All they got to do is get enough amount of people and check if your numbers ever played...Since is not a big company i would think but a small company is enough money for them..They take: $100 million invest it in bonds or whatever and in 7 years they got another $100 million extra, now by then they will have: $600 million dollars...They dont even have to do that you are talking about insurance a cartel, they got billions to throw away they can take: their own money use it as collateral and make money off of your insurance...

they will have to set a limit on how many numbers you are playing...If is 1, 3 or 5 combinations they can do it...

not all states have year subscription i think...

is just like free lotto they put a: Pick6/59 or Pick6/80 but they ask you for 1 entry/ticket because they know that with 1 ticket you are not going to win...You have better offs playing a quick pick every day for 1 year than playing the same numbers for 1 year...

I wonder something, can a women have insurance after she gets her operation not to have kids just if in case she doesnt get pregnant and if she gets pregnant the insurance compensate her...But she has to have kids already and get the operation...

i got this idea after reading this article and after i went and buy some red kidney beans and it made me think of a women ovum how they are limited...

The Forex trades: 1.6 Trillion dollars EVERY day, that´s more than the GDP of the Carribbean Central America, COMBINED. Enough to feed every crook out there for centuries...To all Geniuses & Powers Countries of the World the Planet needs breakthroughs in all Medicine, Veterinary, Biology related fields, Psychology, Population Psychology/Sociology..They need to genetically ingeneer new plants species/types to give more variety of plants and thus have more resources for combating diseases¨
Coin Toss

Zeta Reticuli Star System
United States
Member #30,469
January 17, 2006
11,788 Posts
Offline

Feb 26, 2010, 6:19 pm

Can we say it's a safe bet the Lloyd's of London wouldn't touch this? Along with Prudential, Traveler's, and all the others?

Maybe the Madoff Ins Co. would, but no others.

I nominate this thread for the entertainment calendar at the Institute for the Lottery Insane.

Those who run the lotteries love it when players look for consistency in something that's designed not to have any. So many systems, so many theories, so few jackpot winners.

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.
ca-dreamin*

Chicago
United States
Member #70,676
February 8, 2009
889 Posts
Offline

Feb 26, 2010, 8:51 pm

Quote: Originally posted by Raven62 on Feb 25, 2010
Protects you in case the worst should happen:

Some people find it hard to stop playing the lottery because they're worried that the very day they stop will be the day their lucky numbers are drawn, and they will tragically lose out on the dollars they are playing for.

DNPTL insurance saves you from this tragedy. You register your lucky numbers with the Insurance Company and tell it what games to follow, and from then on: if those numbers are ever worth a large prize, the Insurance Company will pay you that prize in full: even if you also played and won the prize on your own!

But, the Insurance Company doesn't pay any 2nd or lesser prizes. It is only catastrophe insurance, in case by some miracle your hit a straight or a jackpot.

DNPTL is *not* the same as a lottery subscription or other automated lottery instrument, and because the odds are precisely known, insurance companies could offer this coverage at an affordable price.

The sad truth is that if this insurance were available people would actually buy it.
jwhou

United States
Member #83,698
December 13, 2009
225 Posts
Offline

Feb 28, 2010, 7:13 pm

Quote: Originally posted by Coin Toss on Feb 26, 2010
Can we say it's a safe bet the Lloyd's of London wouldn't touch this? Along with Prudential, Traveler's, and all the others?

Maybe the Madoff Ins Co. would, but no others.

I nominate this thread for the entertainment calendar at the Institute for the Lottery Insane.

Lloyd's of London has insured a model's legs before. All that needs to happen is that someone who has $250,000 to put into escrow incorporates as an insurance company (the escrow is needed to register as an insurance company), writes the policy and then resell the derivative on the open market as securities to the likes of Lloyd's of London. The people buying the securities will only be concerned about the rating of the security and that would depend on how the derivative has been packaged and underwritten, obviously much more than one account would need to be rolled into the derivative in order to hedge against a jackpot winner but it can be done, if you have enough money.
Coin Toss

Zeta Reticuli Star System
United States
Member #30,469
January 17, 2006
11,788 Posts
Offline

Mar 1, 2010, 10:01 am

Quote: Originally posted by jwhou on Feb 28, 2010
Lloyd's of London has insured a model's legs before. All that needs to happen is that someone who has $250,000 to put into escrow incorporates as an insurance company (the escrow is needed to register as an insurance company), writes the policy and then resell the derivative on the open market as securities to the likes of Lloyd's of London. The people buying the securities will only be concerned about the rating of the security and that would depend on how the derivative has been packaged and underwritten, obviously much more than one account would need to be rolled into the derivative in order to hedge against a jackpot winner but it can be done, if you have enough money.

jwhou,

That's true, Mary Hart had her legs insured for $1,000,000, as did some others.

But the OP isn't talking about $250,000 escrow, it's talking about just a few dollars to insure a ticket that might win that someone forgot or didn't get to play.

Ain't happening. No insurer is going to go for that, why would they?

"I play these number a lot.......but if I don't get them in some day, and they do hit, if I give you $20 would you insure, guarantee, that I get paid the jackpot anyway?"

Like I said, only somebody like Madoff or Ponzi himself would consider it, all the while never ingending to deliver. But if they could find a few million people lame enough to believe someone would believe such a thing, they'd gladly take $20 a few million times over.

You bet your mind,

you lose your mind

Those who run the lotteries love it when players look for consistency in something that's designed not to have any. So many systems, so many theories, so few jackpot winners.

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.
jrosina

New York,
Panama
Member #73,076
April 4, 2009
3,498 Posts
Offline

Mar 1, 2010, 4:04 pm

Quote: Originally posted by Raven62 on Feb 25, 2010
Protects you in case the worst should happen:

Some people find it hard to stop playing the lottery because they're worried that the very day they stop will be the day their lucky numbers are drawn, and they will tragically lose out on the dollars they are playing for.

DNPTL insurance saves you from this tragedy. You register your lucky numbers with the Insurance Company and tell it what games to follow, and from then on: if those numbers are ever worth a large prize, the Insurance Company will pay you that prize in full: even if you also played and won the prize on your own!

But, the Insurance Company doesn't pay any 2nd or lesser prizes. It is only catastrophe insurance, in case by some miracle your hit a straight or a jackpot.

DNPTL is *not* the same as a lottery subscription or other automated lottery instrument, and because the odds are precisely known, insurance companies could offer this coverage at an affordable price.

I am such a Gambl...ahem..I mean Investor, I would do it. If it does not cost the same as my daily Purchase, Why not! People buy Pet Insurance!

forget what "they" say about you. What you say about you?...

Now, does it count??

*Jr$ina

New Topic New Poll

Subscribe to this topic

Didn't Play The Lottery InsurancePrev TopicNext Topic

Didn't Play The Lottery InsurancePrev Topic Next Topic