Search

Lottery player/winner advice ?Reply
lotteryinfopls: The provider if the annuity that is sold to the lottery for the winner makes money off of YOUR winnings...NOT YOU. Why don't you ask Webmaster Todd about whether cash or annuity is better?
Sep 9, 2002, 3:31 pm - CASH Only - Lottery Discussion Forum

TX winner a potential loserReply
freddy, while reaping only $60 million off a $200 million jackpot seems to be a ripoff (it is - tax wise), you forget three important quotients in determining which choice to make. lump sum vs. annuity.1)CONTROL . first and most important is that you control your money, not someone else. and especially not the government. lump sum puts the control factor directly into your hands to begin with. if you are afraid of being able to handle money wisely especially over a long period time you
Sep 4, 2002, 9:18 pm - visiondude - Jackpot Games Forum

TX winner a potential loserReply
Freddy, where do you live? I'm from NY, the only Mega Millions state (including Washington, which joined today) where the cash/annuity choice must be made when you PLAY, instead of after you win. The 60-day rule that you often read about regarding lottery winners should be made mandatory (ie, if someone wins _any_ US lottery prize {including through scratch tickets} where the prize is paid in _X_ annual installments, the winner must be allowed to collect, in lump sum, the actual retail value
Sep 4, 2002, 2:47 pm - CASH Only - Jackpot Games Forum

Cashonly!!!!!!!
Cashonly boy what would you do if The Great One would choose annuity when he wins which will be very soon not to say that he will but um would you jump off of the roof of your house if you got word that your peoples champion chose the annuity option.The Rock
Jul 23, 2002, 5:32 pm - therock - Lottery Discussion Forum

Anybody find out the Powerball changes?Reply
All extra money should go back to the jackpot pool. This $25million increase cap is bs. Oh, and for those who care.. the exact odds are 1:120,526,770.And increasing the annuity to 30 years is bs too. Long live Cash Only! This is even more reason NOT to choose annuity and to take the cash and run.
Jul 7, 2002, 11:43 pm - Abe - Lottery Discussion Forum

mega million ANNUITY
Friday's jackpot will be worth roughly $68 million after taxes......I dunno about you, but I think collecting a $2 and a half million dollar check every year for 26 years doesn't sound like a bad idea to me.
Jul 4, 2002, 8:48 pm - Mrcoolsoul - Lottery Discussion Forum

More advice from CASH Only!Reply
Which means if you must choose in advance, the only way to go is CASH. Even if you'd rather have annuity payments, the LUMP SUM is better because, among other things, you can still invest your winnings in other things, and, you can SHOP AROUND for an annuity instead of one being assigned to you.
Jun 30, 2002, 8:17 pm - CASH Only - Lottery Discussion Forum

More advice from CASH Only!Reply
I don't understand. I realize there are reasons for and against taking the annuity payments.Seems to me taking the annuity can prevent you from blowing all the money, getting conned out of it, getting kidnapped, helps you in explaining why you can't bankroll relatives' crackpot schemes, etc.Shouldn't you just do what's best for you?
Jun 30, 2002, 7:55 pm - BobP - Lottery Discussion Forum

More advice from CASH Only!
1a. Do NOT trust anyone who would rather receive annuity payments if the win the lottery (eg ROCK); 1b. Also, do NOT trust anyone who is receiving structured payments from a lottery win (eg JoeCamelANNUITY). 2. Finally, avoid doing business with companies which (or try to) sell annuities to lotteries/Publishers Clearing House, etc. (It's OK to do business with annuity providers as long as they DO NOT sell them to lotteries/sweepstakes producers etc.)
Jun 30, 2002, 8:59 am - CASH Only - Lottery Discussion Forum

Can someone try to answer my question?Reply
Different states have different rules about paying multiple winners on a single ticket. I would also be concerned about the cash/annuity issue. All Powerball members allow the cash/annuity choice to be made after winning; however, New York, where I live, requires Lotto/Mega Millions players to make the choice WHEN THEY PLAY; a ticket marked 26 ANNUAL PAYMENTS _cannot_ be changed to lump sum!
Jun 1, 2002, 8:24 pm - CASH Only - Lottery Discussion Forum