Predatory Terms and Conditions...non-promotional

[GrandMaster]

Presently, annuity rates would be dreadful, and winners should seek INDEPENDENT advice should they win.

This works in favour of the player as it increases the value of the equivalent lump sum.

[vinylweatherman]

This works in favour of the player as it increases the value of the equivalent lump sum.

Well, it SHOULD, but I expect another progressive at either Wagerworks or Playtech to be won before interest rates start to recover. It would be interesting to see what reduced lump sums are on offer, then ask an actuary to work back from this to see if players are REALLY getting a fair deal from this annuity system.

Interest rates used for 20 years worth of payments should be close to 20 year government gilts, influenced perhaps by 15 to 25 year gilts. From these rates, it should be possible (I didn't say EASY) to calculate the reduced sum that Wagerworks SHOULD be offering for the displayed jackpot which represents the total of the reduced sum and 20 years interest.

If a progressive gets hit, we can compare actual offers to calculated offers.

I don't see that Playtech casinos should be allowed to defend instalment plans with this annuity argument, since the casino is paid in full by Playtech, and the displayed jackpot is this amount, not some future worth under an instalment arrangement.