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#21
06-29-2007, 04:02 PM
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Re: +EV Lottery Ticket
I honestly dont think some of you understand the concept behind the lotto.
They sell $20 million in tickets. Someone wins. They tell that winner hey we owe you like $12 million. Heres 100k / year while we collect interest on that other 19.1 million... That I believe makes up for most +ev offerings in the lotto 
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#22
06-29-2007, 04:13 PM
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Re: +EV Lottery Ticket
[ QUOTE ]
I honestly dont think some of you understand the concept behind the lotto. They sell $20 million in tickets. Someone wins. They tell that winner hey we owe you like $12 million. Heres 100k / year while we collect interest on that other 19.1 million... That I believe makes up for most +ev offerings in the lotto [/ QUOTE ] The raffles, at least in NY, are paid out in cash.
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#23
06-29-2007, 05:03 PM
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Re: +EV Lottery Ticket
[ QUOTE ]
[ QUOTE ] I honestly dont think some of you understand the concept behind the lotto. They sell $20 million in tickets. Someone wins. They tell that winner hey we owe you like $12 million. Heres 100k / year while we collect interest on that other 19.1 million... That I believe makes up for most +ev offerings in the lotto [/ QUOTE ] The raffles, at least in NY, are paid out in cash. [/ QUOTE ] Really? Why don't this just say a bigger number and pay it out over 20 years, since is is so standard.
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#24
06-29-2007, 05:30 PM
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Re: +EV Lottery Ticket
http://www.durangobill.com/PowerballOdds.html
(includes detailed/thoughtful analysis of when/if lotteries become +EV as jackpots accumulate)
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#25
06-29-2007, 05:48 PM
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Re: +EV Lottery Ticket
[ QUOTE ]
[ QUOTE ] The lottery is an idiot tax. QFT. [/ QUOTE ] QFT [/ QUOTE ] Idiotic US citizens taxing their even stupider elected government is a LOL to me!
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#26
06-29-2007, 06:21 PM
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Re: +EV Lottery Ticket
[ QUOTE ]
This statement really shows you how many idiots live in Massachusetts. [/ QUOTE ]
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#27
06-29-2007, 06:27 PM
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Re: +EV Lottery Ticket
[ QUOTE ]
I honestly dont think some of you understand the concept behind the lotto. They sell $20 million in tickets. Someone wins. They tell that winner hey we owe you like $12 million. Heres 100k / year while we collect interest on that other 19.1 million... That I believe makes up for most +ev offerings in the lotto [/ QUOTE ] read the article, it's paid in a lump sum
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#28
06-29-2007, 06:48 PM
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Re: +EV Lottery Ticket
The NY lotto that is at $65 million is not a raffle that is paid immediately.
From the NY lottery website: The LOTTO Jackpot for June 30, 2007 will be $65,000,000.00, including the annuity interest earned over a 26 year prize payment period. For those that want the lump sum: Choose the "Lump Sum Cash Value" box if you wish to receive the prize in a lump sum cash payment. Note: Jackpot winners who select the lump sum cash value option will receive the estimated present cash value of the advertised amount. This amount will be less than the advertised jackpot. I don't know what NY uses as its current discount rate, but the last number that I heard was about 9%. If you win the big prize in NY, the lump sum usually pays 30-35% after taxes and PV.
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