“The state advertises $5 million and pays $3 million. The state would not let an individual or business do this.”
They do so all the time.
The “America’s Got Talent” TV show offers a “One Million Dollar” prize when in fact it is an annuity that will pay out $1mil over a period of 40 years...or $25,000 per year. Right now that can cost them about $600,000
Lots of outfits do this and it’s considered legal because it’s the total value of the prize being advertised.
I also think its misleading and dishonest.
I didn’t know that. Big media and Big government go hand in hand.