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NY King Kong Millions online game

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Quick-pick only. Players must choose cash value or 26 annual payments before buying ticket. One play for $2, three plays for $5, or seven plays for $10. Selections consist of nine-digit numbers. Sales start November 7. Drawing to be held December 5 in the Empire State Building. One first prize of a minimum $50 million. At least five second prizes of $1 million lump sum. Minimum 10 third prizes of $100,000. Don't know yet the payback percentage but I'm assuming 40%. I'm guessing unclaimed lottery winnings will be used to fund the prizes. Hopefully this game will hurt NY Lotto sales.

There will also be a King Kong scratch game, but I expect to call for a boycott, given the NY Lottery's policy of annuity-only instant tickets.

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The prize pool for KKM will be 40% of sales. I anticipate unclaimed prize money will be used to guarantee the three prize levels.

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JimmySand9

It's like an old-time passive draw. They should call it Retro Millions or something.

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I don't know yet how the numbers will be drawn. NY doesn't use computers except for Quick Draw. If a computer is used for KKM, I could see the draw rigged so that the grand prize is won by a "26 annual payments" ticket, since KKM players will have to choose in advance cash or annuity.

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Sales start Monday, 11/7. Overshadowed at least initially by $225m Mega Millions.

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JimmySand9

I don't know yet how the numbers will be drawn. NY doesn't use computers except for Quick Draw. If a computer is used for KKM, I could see the draw rigged so that the grand prize is won by a "26 annual payments" ticket, since KKM players will have to choose in advance cash or annuity.

How does a lottery benefit from giving out an annuity as opposed to cash?

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jimmy:

The NY Lottery itself does not benefit when somebody wins an annuity (if anything, periodic payments to winners creates overhead for the lottery.) Whoever sells the annuity to the lottery has a chance to make money off of the player's winnings.

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Bradly_60

Is there only going to be those few large prizes?  So your odds of winning will be like 1 in 1 million?  If they are they should of made the game more like the Spainish Lottery El Gordo or whatever it is called with odds of better than 1 in 10 i believe.

Brad

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brad:

I don't see this game selling like hotcakes in the four-week sales period. You have a $225 million Mega Millions jackpot that will probably roll over again. You have a 40% prize pool, which is the same as NY Lotto and don't ask me why so many still throw away money on it. And you're right about so few prizes (only 16 guaranteed.) But I'm hoping KKM will hurt NY Lotto sales. Plus nobody will be able to choose which numbers to play (no betslips).

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According to the rules it SOUNDS like a computer will pick the winning number(s). Remember that players must choose lump sum or 26 annual payments when playing-a computer could be programmed so that the $50 million winner receives annuity.

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JimmySand9

According to the rules it SOUNDS like a computer will pick the winning number(s). Remember that players must choose lump sum or 26 annual payments when playing-a computer could be programmed so that the $50 million winner receives annuity.

Why would they rig the computer so an annuity player would win? I don't understand.

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jimmy:

Simple. There are companies that MAKE MONEY, or at least try to, when a lottery winner receives annuity payments instead of a lump sum. Remember when ALL the bigger lottery prizes were annuity-only?

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DoctorEw220

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 This game could have been a lot worse.  They could have called it King Kong Ka-Billions.  Think about that.

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CucumberLover

This game sounds really stupid. I will not waste a dollar on such a dumb game. and I would advise you to do the same.  I have better odds of getting struck by lightning twice in 1 week than winning King Kong Millions.. Oh and they guarentee that 1 person will win the Jackpot??

 

That means this thing is rigged

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Qcumber:

The draw MIGHT be rigged so that only a "26 annual payments" ticket wins the jackpot. I expect that a computer will draw the winners.

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