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Cash option and taxesReply
The advetised jackpot amount is blatant false advertising. That is why. The amount advertised is actually the total amount paid in an annuity over 30 years . The cash value up front is actually the cost of that annuity. If you take the cash value, you pay 35 taxes. That is the marginal tax rate for income over $372,950. I don't know why they would take taxes out of a $5,000 prize. If you are in a tax bracket under 30%, you will get some of that prize money back in the form of
Apr 17, 2009, 3:03 pm - JWBlue - Lottery Discussion Forum

Here is my storyReply
Yes, I only play for the Million and it is a nice change to have the automatic 5x powerplay, though I don't like the new Matrix overall. I usually play one quick pick with power play, and depending on jackpots 1 to 5 quick picks for those $100,000+ games with the 300,000 to 1 odds. I wouldn't ever even want the burden of winning something like 100 million. If I ever did, I'd definitely take the annuity, especially with the world as it is today. Can you imagine winning $200 million, taking the lu
Apr 2, 2009, 10:40 pm - almostabigwinr - Lottery Discussion Forum

Question to people who play Ohio Lottery?Reply
Yes, the way Ohio figures the cash value of its Classic Lotto jackpot compared to how it's figured for the MegaMillion games does make its annuity payouts look more attractive than it would otherwise.
Mar 20, 2009, 5:16 am - RJOh - Lottery Discussion Forum

Auto workers collect lottery winningsReply
And of course there's the very old don't plan to change much line that I loathe but at least in this case they don't really have much of an opening to radically change their lives. The writer of this story mentions the mother is retired from Delphi but then says they don't plan on quitting even though only one is working there currently. Plus, they're not millionaires another thing the press loves to say when it isn't the case. I would certainly hope she doesn't plan on quitting her job b
Mar 17, 2009, 12:29 pm - DC81 - Lottery News

Mega Millions lottery jackpot rolls to $120 millionReply
MM and PB both keep 50% and both put almost exactly the same amountinto the jackpot. PB just pays the annuity over a longer period, andthe payments are smaller at the beginning.
Feb 19, 2009, 2:13 pm - KY Floyd - Lottery News

POLL: Worldwide JackpotsReply
I disagree. The annuity amount isn't just some made up number; it is an actual prize of the game. It exists and that is what was chosen to be advertised. Both Powerball and Mega Millions have the cash value on their official websites.
Feb 18, 2009, 2:46 am - Guru101 - Jackpot Games Forum

POLL: Worldwide Jackpots
Sorry if this one has been done before but would you rather see the big jackpots ranked by Cash or annuity on the LP WW JP chart?
Feb 17, 2009, 11:41 am - Think - Jackpot Games Forum

TN players beware...Reply
Well, I must say I am a bit surprised. The Millionaire Club instant ticket has odds of 1:2.98. The best odds for any instant game right now... A lot better than the other $20 ticket. I have to say, I might have been wrong to judge this game before being released. Good luck if you plan on playing!!! The top prize is impressive; however, expect annuity if you hit the Jackpot...
Feb 3, 2009, 12:55 pm - Tnplayer805 - Instant ("Scratch-Off") Games Forum

Florida Lottery QuestionReply
AFAIK, all states use the cash to buy government securities. They need to guarantee the annuity for a fairly long time, so it's a pretty safe bet that they generally buy long term bonds.
Jan 19, 2009, 5:07 am - KY Floyd - Lottery Discussion Forum

Conn. man's last lotto ticket wins $10M for widowReply
I'm sure she has been made aware of some of the tax problems with inheriting an annuity as she admitted the ticket was bought by her husband before he died. That could mean that at least half of the ticket was his which means it may be treated as part of his estate when it's probated.
Jan 5, 2009, 4:12 pm - RJOh - Lottery News