Instant Game Number 708, CASH FOR LIFE

 

DEPARTMENT OF THE LOTTERY

RULE NO: RULE TITLE
53ER07-46: Instant Game Number 708, CASH FOR LIFE
SUMMARY: This emergency rule describes Instant Game Number 708, “CASH FOR LIFE,” for which the Department of the Lottery will start selling tickets on a date to be determined by the Secretary of the Department. The rule sets forth the specifics of the game; determination of prizewinners; estimated odds of winning, value and number of prizes in the game.
THE PERSON TO BE CONTACTED REGARDING THE EMERGENCY RULE IS: Faith L. Schneider, Legal Analyst, Department of the Lottery, 250 Marriott Drive, Tallahassee, Florida 32399 4011

THE FULL TEXT OF THE EMERGENCY RULE IS:

53ER07-46 Instant Game Number 708, CASH FOR LIFE.

(1) Name of Game. Instant Game Number 708, “CASH FOR LIFE.”

(2) Price. CASH FOR LIFE lottery tickets sell for $2.00 per ticket.

(3) CASH FOR LIFE lottery tickets shall have a series of numbers in machine readable code (or bar code) on the back of the ticket, along with a validation number under the latex area on the ticket. To be a valid winning CASH FOR LIFE lottery ticket, the ticket must meet the applicable requirements of Rule 53ER06-4, F.A.C.

(4) The “YOUR NUMBERS” play symbols and play symbol captions are as follows:

 

 

(5) The “WINNING NUMBERS” play symbols and play symbol captions are as follows:

 

 

(6) The prize symbols and prize symbol captions are as follows:

 

 

(7) The legends are as follows:

 

 

(8) Determination of Prizewinners.

(a) A ticket having a play symbol and corresponding play symbol caption in the “YOUR NUMBERS” play area that matches a play symbol and corresponding play symbol caption in the “WINNING NUMBERS” play area shall entitle the claimant to the prize shown for that play symbol. The prizes are: TICKET, $1.00, $2.00, $5.00, $10.00, $25.00, $50.00, $100, $200, $1,000 and .

(b) A ticket having a “” symbol in the “YOUR NUMBERS” play area shall entitle the claimant to a prize of $50. A claimant who is entitled to a prize of a “TICKET” shall be entitled to a prize of a $2.00 instant ticket or combination of instant tickets with a total value of $2.00, except as follows. A person who submits by mail a CASH FOR LIFE lottery ticket which entitles the claimant to a prize of a $2.00 instant ticket and whose mailing address is outside the state of Florida will receive a check for $2.00 in lieu of an actual ticket.

(c) The winner of a “$10,000 a year for life” prize may choose one of two payment options for receiving his or her prize. Payment options are “Cash Option” and “Annual Payment.” At the time a “$10,000 a year for life” prize is claimed, the terminal will produce a player claim instructions ticket. The winner has sixty (60) days from the date the player claim instructions ticket is produced to file a claim choosing the Cash Option. If a winner does not choose the Cash Option within such time, the Annual Payment option will be applied. Once the winner signs the Winner Claim Form and exercises the winner’s chosen option, the election of that option shall be final. Winner Claim Form DOL-173-2, Revised 9/05, and Spanish Winner Claim Form DOL-173-2S, Revised 9/05, are incorporated herein by reference and may be obtained from any Lottery retailer, Lottery office or from the Lottery’s website at www.flalottery.com.

(d) Cash Option prizes will be paid in a single cash payment equal to the amount of cash required to purchase U.S. Government Securities that would fund $200,000 payable over a twenty year period, less applicable federal withholding taxes. This figure will be determined during the week following the date on which the “$10,000 a year for life” prize is claimed by obtaining quotes from at least two investment sources. The quote costing the least to fund the twenty year payment stream, had the annual payment option been selected, will be the amount of the Cash Option prize.

(e) Annual Payment prizes claimed by an individual will be paid in equal annual installments of $10,000 for the life of the winner, with a minimum of twenty annual payments, less applicable federal withholding taxes. Annual Payment prizes claimed by a trust, corporation or other legal entity shall consist of twenty annual payments of $10,000 each, less applicable federal withholding taxes.

(f) Any interest or earnings accruing on a “$10,000 a year for life” prize prior to the prize payment or purchase of securities, under either the Cash Option or the Annual Payment Option, shall accrue to the State of Florida and not to the winner.

(9) The estimated odds of winning, value and number of prizes in Instant Game Number 708 are as follows:

 

			NUMBER OF WINNERS IN
			56 POOLS OF
		ODDS OF	180,000 TICKETS
GAME PLAY	VALUE	1 IN	PER POOL
TICKET	$2	8.33	1,209,600
$2	$2	75.00	134,400
$2 x 2	$4	30.00	336,000
$1 + ($2 x 2)	$5	37.50	268,800
$5	$5	37.50	268,800
($1 x 2) + ($2 x 4)	$10	150.00	67,200
$5 x 2	$10	75.00	134,400
$10	$10	150.00	67,200
$5 x 5	$25	450.00	22,400
$5 + ($10 x 2)	$25	450.00	22,400
$25	$25	450.00	22,400
$5 x 10	$50	1,800.00	5,600
$10 x 5	$50	1,800.00	5,600
$50 (MONEYBAG)	$50	450.00	22,400
$10 x 10	$100	9,000.00	1,120
($10 x 5) + $50 (MONEYBAG)	$100	1,500.00	6,720
$100	$100	18,000.00	560
($25 x 2) + $50 (MONEYBAG) + $100	$200	90,000.00	112
$200	$200	90,000.00	112
$100 x 10	$1,000	720,000.00	14
$1,000	$1,000	720,000.00	14
LIFE ($10,000 A YEAR FOR LIFE)	TOP PRIZE	5,040,000.00	2

 

(10) The estimated overall odds of winning some prize in Instant Game Number 708 are 1 in 3.88. Prizes, including the top prizes, are subject to availability at the time of ticket purchase. Prizes may be unavailable due to prior sale or other causes occurring in the normal course of business including, but not limited to, ticket damage, defect, theft or loss.

(11) For reorders of Instant Game Number 708, the estimated odds of winning, value and number of prizes shall be proportionate to the number of tickets reordered.

(12) By purchasing a CASH FOR LIFE lottery ticket the player agrees to comply with and abide by all prize payment rules of the Florida Lottery.

(13) Payment of prizes for CASH FOR LIFE lottery tickets shall be made in accordance with rules of the Florida Lottery governing payment of prizes.

A copy of the current rule can be obtained from the Florida Lottery, Office of the General Counsel, 250 Marriott Drive, Tallahassee, Florida 32399-4011.

Specific Authority 24.105(9)(a),(b),(c), 24.109(1), 24.115(1) FS. Law Implemented 24.105(9)(a),(b),(c), 24.115(1) FS. History–New 7-6-07.

THIS RULE TAKES EFFECT UPON BEING FILED WITH THE DEPARTMENT OF STATE UNLESS A LATER TIME AND DATE IS SPECIFIED IN THE RULE.
EFFECTIVE DATE: July 6, 2007