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if PB/ MM changed its policy from CASH to ANNUITY going forward- would that sit well with you?

Topic closed. 7 replies. Last post 4 years ago by noise-gate.

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noise-gate's avatar - images q=tbn:ANd9GcR91HDs4UJhjxO7cmeMQWZ5lB_FOcMLOGicau4V74R45tDgPWrr
Bay Area - California
United States
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December 12, 2012
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Posted: April 16, 2013, 5:11 pm - IP Logged

Perhaps they say " We have read too many horror stories of winners losing it all, so we have emplemented a fail- safe measure to ensure that this will not happen under our watch from this point on, in the best interest of the lottery & the winner- we feel that this action will be viewed in a positive light once the initial curve has been passed-Yours Faithfully
The State Lottery.
Would you buy into it?


    United States
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    July 25, 2012
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    Posted: April 16, 2013, 6:03 pm - IP Logged

    Perhaps they say " We have read too many horror stories of winners losing it all, so we have emplemented a fail- safe measure to ensure that this will not happen under our watch from this point on, in the best interest of the lottery & the winner- we feel that this action will be viewed in a positive light once the initial curve has been passed-Yours Faithfully
    The State Lottery.
    Would you buy into it?

    I wouldnt care one way or the other long as they could guarantee I'd get all my money....but they couldnt so I think it would be taking away the choice and that's just unamerican right there

      redhot7's avatar - SetforLifeLogo
      California
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      June 17, 2011
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      Posted: April 16, 2013, 7:41 pm - IP Logged

      I would still play multimillion dollars jackpot but I wouldn't play any game that offers less than $50,000 per year annuity.

        Coin Toss's avatar - shape barbed.jpg
        Zeta Reticuli Star System
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        Posted: April 16, 2013, 7:56 pm - IP Logged

        If PB/MM only offered annuities there would be a lot more jakcpot winners selling their 'structured settlements' 'to companies tht buy them...for a lot less.

        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.

          rdgrnr's avatar - walt
          Way back up in them dadgum hills, son!
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          Posted: April 16, 2013, 10:07 pm - IP Logged

          Please don't give The Dragon Lady any ideas. No No


                                                       
                               
                                                   

           

           

           

           

                                                                                                             

          "The only thing necessary for evil to triumph is for good men to do nothing"

                                                                                                      --Edmund Burke

           

           

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            Kentucky
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            February 14, 2006
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            Posted: April 17, 2013, 12:22 pm - IP Logged

            Perhaps they say " We have read too many horror stories of winners losing it all, so we have emplemented a fail- safe measure to ensure that this will not happen under our watch from this point on, in the best interest of the lottery & the winner- we feel that this action will be viewed in a positive light once the initial curve has been passed-Yours Faithfully
            The State Lottery.
            Would you buy into it?

            There was a time when almost all the lotto jackpots were paid in yearly installments. Taking the cash value was an added option and in some states that decision had to be made when the ticket was purchased. As more jackpot winners opted for the cash, it relieved the long term investment burden of the lotteries. Today to be able to advertise the huge jackpots, the installments were extended from 20 years to 26 and 30 years. That's about 2/3 of an average lifetime and gives the lotteries the authority to decide an elderly jackpot winner can't collect all their winnings in their lifetime.

            Basically you're scenario suggests a state lottery should decide what is best for all future jackpot winners with zero evidence other than their opinion that a few past jackpot winners spent their winnings unwisely. Maybe it's just because of the nature of the game that some players believe they have a vested interest in how the winners should handle their money, but the last thing we need is allowing an appointed government agency to deciding how we should handle our money.

            There was a story about a $1 million winner that died of a drug overdose in less than a year. Do you really believe the lottery paying her 20 yearly installments of before tax $50,000 would have prevented that from happening?

            Should all prize over $10,000 be paid in installments because a lottery official or even a state legislator believes in their opinions, some winners spent their winnings unwisely?

            I paid a buck or two for the ticket and it's none of the lotteries or other players business what I do with MY winnings and the reason why the cash option was given in the first place.

              helpmewin's avatar - dandy
              u$a
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              Posted: April 17, 2013, 12:25 pm - IP Logged

              if PB/ MM changed its policy from CASH to ANNUITY going forward- would that sit well with you?

              Hurray! that's Fine with me/whatever they want to do.

              Let it Snow Snowman

                noise-gate's avatar - images q=tbn:ANd9GcR91HDs4UJhjxO7cmeMQWZ5lB_FOcMLOGicau4V74R45tDgPWrr
                Bay Area - California
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                Posted: April 17, 2013, 12:52 pm - IP Logged

                Stack- its just a question. l am merely picking peoples brains to see whether they would go along with that idea should it arise. Your response in part seems to suggest that l am either for this or l work for the lottery.  Neither is true. Its a question forum, don't lose sight of that fact bud.
                White Bounce