Does the winning ticket holder only get 1/3 of the jackpot??

Reply #14

DaJack — Tue, 16 Apr 2002 15:43:16 GMT

I used a magic marker, it's magic! So, I think I win it all and I will give everyone here a portion of my winnings. I promise.

Reply #13

Guest — Tue, 16 Apr 2002 12:07:29 GMT

OK -- because you people are all my friends I'll let you in on a secret I forgot to mention earlier: Use a NUMBER THREE pencil to indicate your numbers. Everyone uses a #2 or a pen. This will separate you from the crowd and vastly increase your odds of winning. (Please keep this quiet. If it gets spread around the edge will be lost

Reply #12

CASH Only — Tue, 16 Apr 2002 12:01:09 GMT

You're right about cash only

Reply #11

DaJack — Tue, 16 Apr 2002 11:39:24 GMT

Good idea Super Genius, maybe I'll pay with $1 bills. It may improve my chances, and I may do some funky lottery dance to improve my chances. Or even pennies, good idea cash only.

Reply #10

CASH Only — Tue, 16 Apr 2002 10:19:29 GMT

Make sure the lottery line stretches out the door. Then, when you're at the counter, start filling out your slips, choose annuity , and finally, pay the agent in unwrapped pennies.

Reply #9

Guest — Tue, 16 Apr 2002 09:05:27 GMT

Re: Today, I picked for the first time annuity because I hope that maybe my chances may improve. Good idea. And if you pay for your tickets only with one-dollar bills, that helps improve your chances of winning too.

Reply #8

CASH Only — Tue, 16 Apr 2002 06:33:16 GMT

Then you're losing money to the company which sells the annuity to the lottery. They want to make money off YOUR winnings without you having a say. I can almost guarantee you'll regret wanting annual payments if you win.

Reply #7

DaJack — Tue, 16 Apr 2002 00:17:20 GMT

But, I still get my millions of dollars every year for 26 years. I don't really mind if they take only a few hundrend thousand, because I still get tons of money.

Reply #6

CASH Only — Mon, 15 Apr 2002 21:31:55 GMT

The company selling the annuity to the lottery gets to make money off of your lottery winnings, NOT YOU. If you take the lump sum, YOU call the shots, YOU get to invest the money however you wish. The company selling the annuity to the lottery doesn't give a damn about YOU.

Reply #5

hatecmptr — Mon, 15 Apr 2002 21:20:41 GMT

You can decide later, of course the annuity broker may make money because it is invested an annuity rate based on current interest rates. The company pays the fixed rate, but may find value for themselves in other investments but the annuity 330M value is set in stone so to speak!Got a good investment advisor then take the cash! and buy your own annunity.

Reply #4

DaJack — Mon, 15 Apr 2002 19:55:54 GMT

Today, I picked for the first time annuity because I hope that maybe my chances may improve. A few posts up, someone stated that the company paying you the annuity makes money and not you. It doesn't make sense.

Reply #3

megamillionaire — Mon, 15 Apr 2002 18:47:14 GMT

The cash value works out to be about 53% of the annuity value. The IRS take is actually 39.1% which if you take the present 174 million cash value after federal taxes you should receive 105.966 million. Nothing to sneeze at.

Reply #2

hatecmptr — Mon, 15 Apr 2002 18:26:44 GMT

The prize is based on a 26 Year annuity for last Fri $220M drawing. The Cash payout runs about 60% of the total Then the IRS takes a minimum of 27% and the states other than NJ takes 2 to 5%So your numbers are about right 220 million last Fri netted 87 Million in Nj and like 76 Million in Md. But also remember the IRS is Taking 27% at the end of the year they will want up to another 13-23 percent. So expect at the end of the year (based on Fri 220m) to write a check for at least 10 Million when

Reply #1

CASH Only — Mon, 15 Apr 2002 18:16:15 GMT

You DON'T win less by choosing lump sum instead of the annuity. Taking the cash means you still have control of your winnings (minus withholdings) and you can invest it however you wish. Receiving annuity payments means the company selling the annuity to the lottery makes money off your lottery win instead of you.

Does the winning ticket holder only get 1/3 of the jackpot??

lottoguy21 — Mon, 15 Apr 2002 18:10:20 GMT

I heard that the person who wins the big game lottery only gets about 1/3, one third or 33 %, of the total jackpot if he/she takes the lump sum payment instead of taking part of it every year over 20 years. Is this true, and is this the way other lotterys are. I think the Texas lotto is this way.Lottoguy21