1994-06-28 - Re: Lotto odds

Header Data

From: Sandy Sandfort <sandfort@crl.com>
To: “Roy M. Silvernail” <roy@sendai.cybrspc.mn.org>
Message Hash: b5f407f12f7ca035b9a34709cfabf3ff48ee84fd66e213cbbf534bdd4c12c4f4
Message ID: <Pine.3.87.9406280859.A19197-0100000@crl2.crl.com>
Reply To: <940628.065526.5S6.rusnews.w165w@sendai.cybrspc.mn.org>
UTC Datetime: 1994-06-28 16:35:33 UTC
Raw Date: Tue, 28 Jun 94 09:35:33 PDT

Raw message

From: Sandy Sandfort <sandfort@crl.com>
Date: Tue, 28 Jun 94 09:35:33 PDT
To: "Roy M. Silvernail" <roy@sendai.cybrspc.mn.org>
Subject: Re: Lotto odds
In-Reply-To: <940628.065526.5S6.rusnews.w165w@sendai.cybrspc.mn.org>
Message-ID: <Pine.3.87.9406280859.A19197-0100000@crl2.crl.com>
MIME-Version: 1.0
Content-Type: text/plain


On Tue, 28 Jun 1994, Roy M. Silvernail wrote:

> In list.cypherpunks, tcmay@netcom.com writes:
> > Maybe, but the state has a wonderful scam of paying off a "5 million
> > dollar jackpot" over 20 years; the true value (what the same deal
> > would cost you to buy as an annuity) is less than $5 M, possibly much
> > less. If private outfits did this, they'd be jailed.
> Jailed?  Publisher's Clearing House, American Family Puublishers and
> Reader's Digest have done this for years.

I don't think so.  While they now engage in this questionable practice,
I don't think they've been doing for more than 2-3 years.  If I had to
guess, I would think they only feel safe in doing so because the states
have already established a legal precedent with their lotterys.  They (the
states) would be hard pressed to make a distinction between their annuity
funded 20 year payoffs and those of Publisher's Clearing House.  Thus the 
State's corruption taints the free market.

 S a n d y