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Looking at the past NY Mega Millions Winners and I noticed something...

Topic closed. 18 replies. Last post 6 years ago by jacal5.

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New York
United States
Member #103163
December 31, 2010
7 Posts
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Posted: January 4, 2011, 10:28 am - IP Logged

I was at a NY lottery headquarters buying tickets for the New Years Eve drawing, and I asked for a QP with 26 payments, so the clerk says to me, "Why do you want to wait for your money?"  I told him that I might have a better chance to win with a 26 annual payment ticket because they might not want to pay out a big lump sum, and the computer might be set to pick a winner from the 26 annual payment pool of tickets. At that point, the clerk started to say "That money comes from....." but then he stopped talking, as if to say my logic wasn't plausible and gave me the ticket.

Can anybody explain to me what the lottery clerk was going to say if he finished the sentence ?  Does anyone agree with my logic of purchasing some tickets with 26 payments for the reason I stated?

Today I'm going to Conn. to get a few tickets with the Mega multiplier. The multiplier was supposed to be in effect in NY starting in Jan 2011, but yesterday a lottery retailer told me that they haven't had any word yet from the NY lottery regarding the Mega multiplier.  I don't think Conn. has the MM promo ($10.00 and 2 free), so when I come back to NY, I'm going to pick 6 numbers and get 6 QP (2 will be from the promo). Since I normally purchase all my tickets separately and at different places (less repeated numbers that way), but I can't do it with the promo,  I don't want to take the chance that I'll have repeated numbers on one ticket in all the lines, so that's why I am picking half of them myself.

I was reading the strategies here with great interest, because I had a little luck during the middle of 2010 with Sweet Million, and continued to purchase at the stores where I would get 3 or 4 numbers, but after September, I never won anything at those same stores.  Now I am trying to decide where to get my Mega Million QP's today, so I think I will try the Bronx again after reading these posts, even though I haven't won anything so far in the Bronx when I buy tickets there.

Hi and Happy New Year to GiveFive, and to everyone, and GLTA on tonight's MM drawing!

I don't think it matters if it is 26 annual payments or lump sum. I think the computer or machine just random spit numbers out. Personally I wouldn't take the 26 annual payments because God forbid if something happens to the person, I don't think you can will you payments to a family member, I think they take it money back. <<Please someone correct me if I am wrong>>>

 

This is the reason why I always decide to go with Lump Sum. Also if a person wanted to sue you as well they would know that you are getting that every year and you money is easy to track. Just my 2 cents but I could be wrong.....

 

But Personally I don't think it matters..but if it does I am purchasing another 100 tickets worth with annual payments option. Roll Eyes

 

Good Luck Everyone on the drawing tonight

    headcrack's avatar - Lottery-025.jpg
    boogiedown
    United States
    Member #95878
    August 19, 2010
    2887 Posts
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    Posted: January 4, 2011, 11:30 am - IP Logged

    I don't think it matters if it is 26 annual payments or lump sum. I think the computer or machine just random spit numbers out. Personally I wouldn't take the 26 annual payments because God forbid if something happens to the person, I don't think you can will you payments to a family member, I think they take it money back. <<Please someone correct me if I am wrong>>>

     

    This is the reason why I always decide to go with Lump Sum. Also if a person wanted to sue you as well they would know that you are getting that every year and you money is easy to track. Just my 2 cents but I could be wrong.....

     

    But Personally I don't think it matters..but if it does I am purchasing another 100 tickets worth with annual payments option. Roll Eyes

     

    Good Luck Everyone on the drawing tonight

    its better to pick the annual payments.....only because when you claim your prize you can change your mind....and take the lump sum...not the other way around...im pretty sure...on the death issue....i dont know if it applies to every state or every lottery game.. but if some one dies the rest of the money goes to whoever's name is on the ticket or signed to the winning tickets....on lottery change my life a old man won and put his sons name and someone else on the ticket...the old man passed away a few months later.. and the two remaining people on the ticket split the money....im pretty sure but not absolute.....good luck........

    067. 158. 568. 379. 248

    358. 168. 467. 012. 036.

     

     Ice Cube "shake em up shake em up shake em up shake em." Today was a good day

     

    Four-Five-Six--Ciello--Five-Five-Six--Headcrack!   Bash

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      United States
      Member #171
      April 7, 2002
      181 Posts
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      Posted: January 4, 2011, 1:05 pm - IP Logged

      Thanks for the responses to my question, and here is documentation from the NY Lottery web-site stating that your estate is entitled to any annual payments:

      What payment options do I have for receiving a jackpot prize if I win?
      A player must choose between two jackpot payment options at the time they purchase their Lotto, Lotto Extra, or Mega Millions ticket. These two options are "26 Annual Payments" or "Lump Sum Cash Value."

      If you choose "26 Annual Payments", you will receive your prize in26 payments over 25 years. For the Lotto and Lotto Extra games, annualpayments will be graduated payments, increasing in value each year. Forthe Mega Millions game, annual payments are the same each year.

      If you choose to receive your payment in one "Lump Sum Cash Value"payment, you will receive the estimated present cash value of theadvertised jackpot amount. This amount will be less than the advertisedjackpot.

      If you win a jackpot prize on any of our current instant games, yourpayments could be paid annually or quarterly.  Payments are determinedby the prize structure of the game.

       
       
      Is the "Lump Sum" option available for the Instant games?
      No.
       
       
      What happens to my remaining jackpot payments if I die?
      By statute, your estate is entitled to receive any remaining annual payments.
       
       
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        United States
        Member #171
        April 7, 2002
        181 Posts
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        Posted: January 4, 2011, 1:12 pm - IP Logged

        In New York, the annual payments are binding, see below:

         

        n Georgia, New Jersey, New York, Oklahoma, and Texas,players must also choose, in advance, whether they wish to collect ajackpot in cash or annuity. Georgia and New Jersey winners can changean annuity ticket to cash; however, the choice is binding in New York,Oklahoma and Texas.

        If a jackpot prize is not claimed within the required time limit,each of the participating Mega Millions members get back all the moneythey contributed to that jackpot. The 36 jurisdictions use unclaimedprizes for different purposes; an unclaimed Mega Millions jackpot ismost likely distributed towards educational purposes.[21][22]

        In 2007, a $31 million prize went unclaimed in New York.[23] Many prizes of $250,000 each have been unclaimed, including several in Michigan for 2007 drawings.[24]

        [edit] Claiming prizes