For the first time I decided to buy a $30 California lottery scratcher ticket. I stood at the lottery machine and looked at all the $30 scratchers. I decided on one called, "Royal Riches", which offered a win up to $10 million.
Yes, winning $10 million would do nicely. I bought the ticket. I turned the ticket over and was OUTRAGED! The ticket clearly stated "Winners of the top prize have the option of receiving an annuity paying $400,000 a year for 25 years, or a lump sum cash payout of $5.8 million". Wait a minute, that's not a true $10 million payout! With inflation, a $400,000 annual payout for 25 years might be worth about $6 million. Or less. And an immediate cash payout of less than $6 million is certainly not a $10 million payout. WTF???
I spent $30 on the assumption of a possible $10 million win. Or, if I did not win big I hoped to at least break even. $30 is a lot of money for 1 lottery scratcher ticket. It's the most expensive one the California Lottery offers. And they only want to pay the $10 million winner over 25 years of inflation, or pay out a lump sum of 58%? WTF! I was outraged. And felt like I was being screwed.
I will NEVER buy another $30 California Lottery scratcher again! Never. Unless, of course I win the top price (I will take the $5.8 million cash) and then I will play it again, every f-ing week.
UPDATE:
The next day I scratched it off. A $30 California Lottery scratcher. It said on the ticket that there were 39 chances to win. Did I win? Did I win $10 million? $1 million dollars? A thousand dollars? A hundred dollars? Did I at least break even and win $30? No. I won NOTHING. Zero. Nada.