Something I hope we never see

Reply #16

CASH Only — Thu, 24 Aug 2006 13:38:21 GMT

VA has had booby prize winners choosing the 520k cash option. I suggest doing a search.

Remember that I do not endorse Lose for Life even in VA, because of its cheap cash option.

Reply #15

ayenowitall — Thu, 24 Aug 2006 00:03:57 GMT

CASH Only,

So you're basically saying that you do not have any verifiable evidence that Virginia offers a cash option for the Win For Life game. I don't think you would lie, but I'm pretty sure that you are seriously mistaken. Where's the proof?

aye

Reply #14

CASH Only — Wed, 23 Aug 2006 15:48:50 GMT

VA does have a (cheap) cash option. I would not lie about something like that.

Reply #13

ayenowitall — Wed, 23 Aug 2006 01:25:51 GMT

CASH Only,

Where on the VA lottery website does it mention the cash option for Win For Life? I've looked all over it and there is nothing there about such a cash option. Where is the evidence?

aye

Reply #12

CASH Only — Tue, 22 Aug 2006 20:08:22 GMT

The VA Lottery website. But since the cash option is equivalent to less than 10 years of quarterly payments, the game should be boycotted in VA as well as GA and KY.

Reply #11

ayenowitall — Tue, 22 Aug 2006 01:13:43 GMT

CASH Only,

Exactly what verifiable source of information do you have that Win For Life offers a cash option in Virginia? I've never read anything about that anywhere except in your posts.

aye

Reply #10

dvdiva — Mon, 21 Aug 2006 18:25:28 GMT

The best secondary prize I could get is in a 5/54 + 2/12 game without having the odds being way to high. Odds of that game would be 1:208 million for the primary jackpot and could easily support a $2.4 million annuity for a 54 + 1/12 win. Don't look for such creativity out of the Mega group however.

Reply #9

dvdiva — Mon, 21 Aug 2006 18:02:18 GMT

If Megamillions can't even fix the first prize you don't have to worry about any changes to the second prize. Even if it were doubled and then an annuity I just can't see it happeneing with the current game. I also can't see them changing the current game to generate higher jackpots either. So like it or hate it we are stuck with MegaBS.

I'd say the only way an annuity would enter the second place winner would be a Euromillions style game where you have to pick 2 secondary numbers plus 5 whit... [ More ]

Reply #8

CASH Only — Mon, 21 Aug 2006 16:58:47 GMT

GA is part of the new multi-state Lose for Life (which replaced Lotto South.) Lose for Life has a top prize of $1000-a-week-for-life paid quarterly. Neither GA nor KY offer a cash option.

MM and PB have substantial second prizes ($250,000 and $200,000.) I _could_ see MM changing in the future to include a lifetime payout (eg $25,000 a year for life) for second prize (5+0.) MM may want to offer a different kind of second prize than PB. I hope this NEVER happens, even if there is a cash option

Reply #7

bellyache — Sat, 19 Aug 2006 23:16:17 GMT

I agree. The only way this idea would work is if they made the second prize a lot bigger and I don't see that happening.

Reply #6

justxploring — Sat, 19 Aug 2006 21:40:08 GMT

I guess I don't understand the topic. I don't see how it could ever be divided into 26 or 30 payments. I mean $200,000 would be $6,666 x 30 years LESS taxes.

Reply #5

weshar75 — Sat, 19 Aug 2006 21:17:05 GMT

Making annual payments for anything other than the grand prize or jackpot for Mega Millions and Powerball is not a good idea. You would alienate alot of players who buy tickets who want the lower prizes to be cash payouts. You might as well shoot the games both in the head because you will kill those games. I am not going to play powerball if the 5+0 prize is an annuity based. You would be a fool to play a dumb ass game like that.-weshar75

Reply #4

ayenowitall — Sat, 19 Aug 2006 19:34:02 GMT

Exactly what verifiable source of information do you have that Win For Life offers a cash option? I've never read anything about that anywhere except in your posts.

aye

Reply #3

LckyLary — Sat, 19 Aug 2006 19:13:56 GMT

I have not heard of such an idea being tossed around anywhere else. I would not really object to it if it were a decent amount that gets deposited in your bank account each week. The possible reason that the cash option on the WIN4LIFE is less than 10 years of payments is because they're guessing that 1. the average player is 65 years old or 2. that if you put that cash amount in an annuity at the same interest rate they're getting it would only require a lump sum deposit of 10x the yearly payou... [ More ]

Reply #2

bellyache — Sat, 19 Aug 2006 18:51:16 GMT

I don't think that will happen. Or at least I hope it doesn't happen. Of course, if they second place lifetime prize was more then a million over time that might not be so bad.

Reply #1

Just6ntlc — Sat, 19 Aug 2006 16:13:04 GMT

CASH Only, I hope that MM and PB doesn't have a Lose For Life second prize. I think they should keep it as is.

Something I hope we never see

CASH Only — Sat, 19 Aug 2006 13:37:51 GMT

Mega Millions and Powerball each has an excellent second prize. What if a future version of MM (or less likely PB) changes its second prize to a LIFETIME prize? And MM states either don't have a cash option for second prize, or make it cheap (the VA cash option in Lose for Life is less than 10 years' worth of payments