Annuity Option a waste?

Reply #6

CASH Only — Fri, 17 Jan 2003 13:12:00 GMT

The guy who calls himself AnnuityIsGreat is a waste

Reply #5

CASH Only — Thu, 16 Jan 2003 21:08:14 GMT

Buying lottery tickets is a waste IF the player would rather be paid through an annuity should he/she win.

Reply #4

CASH Only — Sat, 21 Dec 2002 16:02:11 GMT

Bradly: Michigan Millions has a cash option (I would think WINFALL will also), and, Mega Millions has a cash option wherever it's played. Here in NY, all scratch games available since late 2000 with a top prize over $500,000 are ANNUITY-ONLY, as well as the Lotto free plays through one of the scratches.

Reply #3

Bradly_60 — Sat, 21 Dec 2002 15:37:48 GMT

Not in Michigan. The highest instant prize is 2 million and it is paid in a lump sum. There are only two things that are annuities in Michigan. Mega Millions and Michigan Millions. NY Lottery is all about annuities aren't they

Reply #2

CASH Only — Sat, 21 Dec 2002 08:32:01 GMT

Very interesting question. US lotteries probably began paying winners through annuities even before NY Lotto began in 1978. I suppose annuity sellers wanted to get in on the action back then. I don't think the big US lotto games will drop the annuity OPTION because they would no longer be able to advertise the inflated amounts. Whether even longer annuities will be part of US jackpots...It must be remembered that various instant scratch games are still ANNUITY-ONLY, as well as the Mass. 6/42 a... [ More ]

Reply #1

Thomas Covenant — Sat, 21 Dec 2002 03:18:01 GMT

It's an advertising gimmick. That's why Powerball went to a 30 year annuity from a 25 year. So the advertised jackpot would be higher. 215 million does sound better than 63 million(cash option after taxes

Annuity Option a waste?

Bradly_60 — Sat, 21 Dec 2002 01:31:58 GMT

All the lotteries use annuities to show how big their jackpots are but why? Very few people ever take the annuity anymore. Do you think the lotteries will ever get rid of the annuity option. Doubt it but what do you think