In the Loop

In the Loop: July 8, 2008 Archive

You've won the lottery . . . would you like your prize in regular or unleaded?

Posted at 12:09 PM on July 8, 2008 by Sanden Totten (2 Comments)

Free gas for life sounds pretty good right about now . . . But apparently it sounds a lot better than it actually is.

Florida's state lottery is having a summer special where the winning ticket gets you a quarter of a million dollars. The second prize is gas for life. The NY Times reports that people are buying tickets with their eyes on the second prize. Like Robert Acosta for one. From the Times:

Not that a winner's right to free gasoline is unlimited. Rather, each winner will be awarded 26 prepaid gas cards, each worth $100, every year until death. Were the 44-year-old Mr. Acosta to win, and live to be twice his current age, the total payout to him in free gasoline would be $114,400. That is far short of the first prize, particularly since virtually all the gas prize would be paid in future dollars.

Not to mention the fact that soon enough $100 dollars will probably barely cover a tank. Oh well, if it sounds too good to be true . . .

If you could have $2600 dollars of any commodity every year until death what would it be? How could you maximize that to beat the quarter of a million the first prize winner would get? $2600 of baseball cards? How about $2600 in paintings from up and coming artists?

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