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Powerball lottery jackpot hits $200 millionReply
So disagreement is frowned upon? Everyone agrees with you or they don't belong? Thats not a lottery group, that is China. I am here because I can be. To bring diversity. To not get in line and say Baaaah whenever some one speaks holy words. I commited a crime by being negative; by pointing out that there is no annuity and never will be! Because I point out the dream planned with $15M will never be $15M! The truth is too serious, or is being corrected too serious? My thinks the ego can onl
Mar 9, 2008, 9:04 pm - MeFirstYouLast - Lottery News

Powerball lottery jackpot hits $200 millionReply
Never said you were stupid. Maybe you're self analysing too much? What I did say was the annuity amount is a fanasty and never was and never will be. So why quote a fantasy? Maybe because it is easier to dream about a fantasy then about reality? When you're dealling in hundreds of millions, the difference is major. All over this blog are quotes of retiring on the $10M or $15M, and people being folloish or crazy to want more. That tells me that there are a lot of people looking into the br
Mar 9, 2008, 4:43 pm - MeFirstYouLast - Lottery News

How do I determine the interest rate received on annual payments?Reply
It makes no difference, Lump Sum or Annuity Option, there is an interest rate asssumption that goes into play. For the Lump Sum you have to have an interest rate to compute the Present Value of the income stream, that is to say instead of getting the payments over time (26 years) what is it worth TODAY. The interest rate would be tied to something like 10 year treasury notes or bonds or perhaps the Prime Rate of interest in effect today. Bet on something in the 3 to 5% interest range. T
Mar 8, 2008, 6:09 pm - mjwinsmith - Lottery Discussion Forum

POLL: Best reason for cash
I know this has been pounded but THIS ONE IS FOR FUN. What's the best (fun) reason for cash instead of an annuity? I mean, there is the Mayan prophecy about 2012 (The Mayan calendar just stops at 12-21-2012), the world is indeed a powderkeg, no one can really foresee the future, etc... So pick a choice above or add another one to the discussion. Enjoy -Coin Toss
Mar 8, 2008, 12:04 am - Coin Toss - Lottery Discussion Forum

-No Explanation-
You guys say you will take cash option over annuity but never explain the reason, why is that? Cash option makes no sense, you get half the jackpot. Annuities are the logical choice. Gee Brain, what do you want to do tonight? The same thing we do every night, Pinky Try to take over the world.
Mar 6, 2008, 9:39 am - rubberbandman - Lottery Discussion Forum

Paying a jackpot over 26 years is too long of a time frameReply
I agree, but it's better than the graduated 30 yr payout offered by Powerball. When the Florida Lotto had a 20 year annuity, at least the payout was 5% ($50K a year for every million) but then it changed to 30 years which means you're getting even a lower rate of interest. Our 20 year game (MegaMoney) has a much higher cash payout, however - often as high was 70%. The last person who won $2M got a lump sum of $1.4M so taking the annual payments would be foolish IMO. I think it depends on you
Mar 4, 2008, 5:25 pm - justxploring - Lottery Discussion Forum

Payout of winnings less than jackpotReply
Bagent The 59% reduction is for the top prize, hitting all 5 top numbers and the Powerball (bottom matrix). If people take an annuity, the stated jackpot is paid over 20 years or so (maybe it's 26), if they want the prize in cash, right now, one payment, no annual payments the prize gets reduced by just about half or a little more. The other prizes are right now , pre-tax cash. 5 white balls an no PB ( 5 + 0 ) would get you $200,000 pre-tax.
Jan 7, 2008, 11:35 am - Coin Toss - Lottery Discussion Forum

Book: Money For NothingReply
For all the discsussions we've had about cash option vs annuities, this is interesting: From the editorial review: At age twenty-six, Ed found himself broke, knee-deep in gambling debt, and moving back into his parents' basement. It all changed, however, when he serendipitously landed a job as a salesman for The Firm--a company that offered up-front cash to lottery winners in exchange for their prize money, often paid in agonizingly small annual payments, some lasting up to twenty-five y
Sep 24, 2007, 9:45 am - Coin Toss - Lottery Discussion Forum

Info On RNG'SReply
Hey Todd, I'm not sure that any layman can see or measure or detect fraud on a ball machine. At least not a person who is not at the studio with some testing equipment. Magnets in balls; paint in Ping-Pong balls, etc. may not be detectable on a TV screen at all. Players don't catch these problems because they are fixed once the fraud is committed. I've never heard a person suggest a meaninful way to defaud an RNG (except for things like well, I would write the code to draw my numbers
Sep 14, 2007, 9:45 pm - chuck32 - Lottery Discussion Forum

Cash Options of JackpotsReply
On another thread, dvdiva brought up what happens to beneficiaries should someone die while taking annual payments. I never gave this much thought, because most people I know don't have millions of dollars to invest (I wish!) and most annuities people purchase will pay out a lump sum upon death. That's because there isn't a future value and it's usually an investment to defer taxes and protect savings from creditors, etc. Since the PB annuity is a structured settlement, if a winner chooses a
Aug 26, 2007, 12:25 pm - justxploring - Jackpot Games Forum