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New Powerball info availableReply
It looks to me like they really scaled back changes to the game. I'm surprised they didn't make any changes to the lower-tier prizes, but it's probably because the odds of winning are approzimately the same.The worst thing they did is to lower the cash payout by increasing the annuity period to 30 years.
Oct 1, 2002, 4:18 am - Todd - Lottery Discussion Forum

What should or would you DO if you win??Reply
Bulkmailgirl, since you are new to this board, please remember this advice from me and virtually everyone else who posts here: Take the LUMP SUM...never let the lottery assign you an annuity!
Sep 23, 2002, 8:11 pm - CASH Only - Lottery Discussion Forum

What should or would you DO if you win??Reply
If that book is from 1994, it was written at a time when most lotto games (including Powerball; no Big Game yet, let alone Mega Millions) were still annuity-only; the games that did have a cash option required the choice at the time of ticket purchase.
Sep 20, 2002, 5:56 am - CASH Only - Lottery Discussion Forum

Mega Millions vs Ohio 6/49Reply
New Jersey Pick-6 Lotto, and Florida Lotto, are two other games that have 30 annual payments. It would not surprise me if one day there will be LONGER lottery annuities-I've heard of sweepstakes where the annuity was in FIFTY annual payments!
Sep 15, 2002, 8:26 pm - CASH Only - Jackpot Games Forum

Mega Millions vs Ohio 6/49Reply
Once the 30yrs annuity becomes acceptable in a few of the big lotteries, it will become the standard for most of them, after all it's a way to increase the jackpot with the same amount of money and most pool players only play when the jackpot reach a certain level. Ohio $20M jackpot with odds of 1:13,983,816 sounds good regardless of the payout. RJOh
Sep 15, 2002, 6:15 pm - RJOh - Jackpot Games Forum

Never let lottery assign you an annuityReply
My understanding is that if the estate cannot pay the inheritance tax in full (on the remaining payments) within 10 months of the winner's death, the estate would not be able to receive any more annuity checks until the tax is paid, even if the estate has to sell their assets. The estate would also have to pay interest on the inheritance tax they owe. I MAY BE WRONG; please correct me if necessary.
Sep 14, 2002, 1:09 pm - CASH Only - Jackpot Games Forum

Lottery player/winner advice ?Reply
I suppose it's possible, depending on the heirs' assets, whether the next annuity check comes in the 10 months after the winner dies, the amount(s) and number of future checks. Todd knows about this stuff.
Sep 10, 2002, 10:08 am - CASH Only - Lottery Discussion Forum

Lottery player/winner advice ?Reply
AFAIK, 4777, the lottery (once the annuity is bought) does not handle the money. The lottery DOES NOT deduct from the future payments. The IRS can take away the heirs' assets, and, if need be, withhold any portion of future installments, and collect interest, on the owed estate tax. Don't quote me 100% on this however.
Sep 10, 2002, 9:04 am - CASH Only - Lottery Discussion Forum

Lottery player/winner advice ?Reply
Until about four years ago, getting financial advice after you won was less important because you had to choose when you played, if the cash/annuity choice was available. Unfortunately, NY still requires the choice be made when you play.
Sep 9, 2002, 2:56 pm - CASH Only - Lottery Discussion Forum

Lottery player/winner advice ?Reply
Cash only What if you take the lump sum and put it in your own annuity and the company goes bankrupt? Having worked for the state comptroller office if that company goes bankrupt there is a whole people that are going to be feeling pain not just you any way you will have some your payment in another insurance institution any way. But if that every does start to happen you can kiss US Treasuries goodbye because those are the only annuities fund the state lottery can invest in. They invest only
Sep 9, 2002, 1:11 pm - Guest - Lottery Discussion Forum