How lottery payouts work: Annuity vs Lump Sum

annuity or lump sum lottery
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Someone in Illinois bought the winning ticket, and if he or she does like most winners, they will take the lump sum, not the annuity

The Illinois Lottery pays Lotto, Mega Millions®, and Powerball® jackpots either in 30 annual payments or a lump sum payment

annuity option lottery But, in general, the cash up front or annuity options are available to the bigger winners, including instant ticket winners in Massachusetts of

annuity for lottery winners The lump sum is the cash that a winner has actually won The highlighted $ billion prize is for a sole winner who is paid through an annuity