How do you lose by Winning big?Prev TopicNext Topic

• RJOh

  

  100

  mid-Ohio
  United States
  Member #9
  March 24, 2001
  20,272 Posts
  Offline
  Feb 10, 2003, 9:00 pm

  ▲▼

  That just prove my point, he was lucky enough to win the jackpot before Nov'98, otherwise he would have had  a chance to made more bad choices.  Everybody here got an opinion, but none of them as far as I know have ever been a jackpot winner.  It easy to make a decision when you are setting on the fence with the other losers and don't have any real money to lose.

  Anyone who hasn't taken the time to set up a checking account is not going to know much about handling a large sum of money and is going to likely be better off with an annunity with a gauranteed yearly check in the future unless he can hire the services of a lawyer and bank that he trusts to advise him.

  RJOh
• CASH Only

  United States
  Member #379
  June 5, 2002
  11,296 Posts
  Offline
  Feb 11, 2003, 1:37 am

  ▲▼

  Lottery winners receiving annuity payments (cash option or not) invite more lottery CORRUPTION, such as in Mass, since their 6/49 and 6/42 still are ANNUITY-ONLY.
• RJOh

  

  100

  mid-Ohio
  United States
  Member #9
  March 24, 2001
  20,272 Posts
  Offline
  Feb 11, 2003, 3:59 pm

  ▲▼

  Do you have proof the Massachusetts Lottery is corrupt or is that just your  humble opinion? 

  RJOh
• CASH Only

  United States
  Member #379
  June 5, 2002
  11,296 Posts
  Offline
  Feb 11, 2003, 4:07 pm

  ▲▼

  RJ: Mass. DOES NOT allow 6/42 or 6/49 winners to collect in lump sum. In addition, almost all scratch prizes over $200,000 are NOT paid in cash. I consider it corruption since such winnings unnecessarily go through a third party (ie, annuity provider). Companies that sell annuities to the Mass. Lottery (and the NY Lottery to a lesser extent) make huge amounts of money simply because the lottery winners didn't have a cash option.