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Florida's New Addition to its Lotto

Bradly_60's avatar - disney37
Bradly_60

Did you guys see this yet?  It is definetly new.  Add $1 to your ticket ($2) win an extra $10M if you hit the jackpot.  Bet $3 and add $25M to your jackpot win.  I wonder how well it will do.

Brad

OldSchoolPa's avatar - Lottery-057.jpg
OldSchoolPa

Is that $10M cash value or $10M annuity?  If cash value, I would purchase that option (I always play to win and like this kind of feature over that of the multiplier for non jackpot winners).

justxploring's avatar - villiarna
justxploring

There have been a couple of threads about this new feature. Florida made this decision last summer.  The change was supposed to take effect this week, but they had some problems and now they plan to sell tickets in early March.  I complained on one thread that I couldn't buy advanced tickets for a few weeks because they moved the date.   

I've been playing this game for 14 years and haven't won (not even 5/6) so I'm not about to spend another dollar, since it doesn't have any effect on the lower tier prizes.   The odds are still 1 in approx 23 million.  Maybe if they doubled the lesser prizes, it would make sense to me. 

Edit:  BTW, the jackpot is $37 million tonight.  I'd rather buy 10 tickets for $10 than get 5 tickets for $10.  I think $37 million would be just fine!  (probably $21M cash)

Think's avatar - lightbulb
Think

Can you buy Ten tickets with the same numbers for $3 each for $30 to go for an extra $250,000,000???

That would be great...a big jackpot anytime YOU feel like it. 

Avatar
JimmySand9
In response to Think

Nope. If there are more than one $3 tickets winning, they share the jackpot and the $25mil.

justxploring's avatar - villiarna
justxploring
In response to OldSchoolPa

Good question.  I just found out that it's an annuity paid over 30 years.   However, they probably offer it as a lump sum too.  I am assuming if, for example, you win a $6 million jackpot and opt for the extra $10 million, you will win $16 million over 30 years or about $8.5 million cash before tax.

Still, I'm not going to add another dollar, but it would certainly be a nice bonus when the jackpot is very low, since it starts at $3 million.  However, that will have to be enough for me since I can't start doubling my bets twice a week.  

Think's avatar - lightbulb
Think

I hope when Michigan changes the 6/xx they go to a Double Jackpot game because the Florida Jackpot plus just does not sound good.

Guru101's avatar - rw6jhh
Guru101
In response to OldSchoolPa

Just checked their site. It's annuity.

Avatar
KY Floyd

"BTW, the jackpot is $37 million tonight.  I'd rather buy 10 tickets for$10 than get 5 tickets for $10.  I think $37 million would be justfine!  (probably $21M cash)"

That'sthe sensible strategy for that jackpot. Spending another dollar getsyou another chance at $37 million  (and a chance at the smallerprizes), vs another dollar for a chance at $10 million. OTOH, if thejackpot is only$3 million, you can play for a  jackpot that's 4times as  big for twice as much money if you don't mind passing onthe extra chance for the smaller prizes. 

Think's avatar - lightbulb
Think

What this looks like is a way to get the Jackpot to go up faster.  People might pay the extra money when the Jackpot is less than $25 Million.

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