If you were a Lucky For Life winner...

Reply #31

lotteryrush — Wed, 10 Feb 2016 17:13:32 GMT

Lump sum at any age if you ask me. It just does not make sense to leave it in hands of lottery dept/govt or whatever you want to call it. here are the reasons

1) If they go bankrupt , so do you, money stops coming, even though you can file lawsuits and stuff its just a hassle and there is no gurantee that you might get the money

2)TAX laws might change , better to get the money now and run

3)Its better to have the money in your hand than in someone elses

Reply #30

ArizonaDream — Wed, 03 Feb 2016 00:58:03 GMT

Agreed, the lifetime annuity makes sense for under-40s. But at my age, lump sum it would be. But we don't have the game here yet.

Reply #29

Shelby Mustang — Tue, 02 Feb 2016 23:29:44 GMT

we're getting it here in NC this month. If it's just a grand a week I'll take the lump but the 7k a week I'll take it yearly

Reply #28

tnlottodreamer — Tue, 02 Feb 2016 18:53:45 GMT

I would take the lump sum so that I can buy me,my daughter,my son a nice home.

Reply #27

TheMeatman2005 — Tue, 02 Feb 2016 16:01:19 GMT

The $7 mil lump sum payment represents a 20 year life span.

That's why I said, in a previous comment, if you're under 40, take the payments and if you're over 40 take the cash.

Reply #26

GoogilyMoogily — Tue, 02 Feb 2016 15:27:06 GMT

I'd take 1000 a day because I can't see 7 mill paying out that much interest in today's markets in safe stocks, bonds and other investments that keep the principal in tact. The lump sum is an insult.

Reply #25

TheMeatman2005 — Tue, 02 Feb 2016 08:02:11 GMT

If I were to win a cash 4 life game, I would call my (25 year old) daughter and have her claim the prize in her name.

I would then give her her siblings a share and I get the rest until I meet my maker. Then they would split the money evenly amongst themselves.

My theory is...if you are under 40 years old, take the payments. Over 40, take the cash

Reply #24

TheMeatman2005 — Tue, 02 Feb 2016 07:55:39 GMT

It's paid once / year.

Reply #23

larry3100 — Tue, 02 Feb 2016 02:53:50 GMT

Most likely, If Bernie Sanders becomes the next President, there won't be a national lottery. Bernie would make it illegal or at the least, make it where you could only win $50,000. Socialism, at it's best.

Reply #22

Murgatroyd — Tue, 02 Feb 2016 02:09:11 GMT

Just so you know, $1000/day ($365,000/year) isn't even in the top tax bracket. You'd be safe even under Bernie.

Reply #21

Murgatroyd — Tue, 02 Feb 2016 02:07:03 GMT

I'm not quite as young as you, but as a 35 year old with three living grandparents in or nearing their 90s, it's likely that I'd also be much better off with the continuing payments.

Reply #20

GGStarlings — Tue, 02 Feb 2016 01:13:56 GMT

Can you imagine getting $1000 a day? I can't. But I'd take it, sure. Now, how would they pay that out? Once a week, once a month

Reply #19

MotoX2 — Tue, 02 Feb 2016 01:12:48 GMT

Everyone says lump sum but I might strongly consider the annuity. It just feels like payday everytime I receive a check.

Reply #18

mrbg — Tue, 02 Feb 2016 01:03:14 GMT

Cash

Reply #17

OldSchoolPa — Tue, 02 Feb 2016 00:52:22 GMT

I would consult with a tax accountant and an attorney. Even though I am a shade over 40, I believe I am not even half way through my life span...so I would be inclined to take the annuity and never, ever vote for any Democrat politician. However, if Hillbill or Bernie are elected this year, I would take the lump sum and run to Singapore

Reply #16

Redd55 — Tue, 02 Feb 2016 00:44:19 GMT

But that might incur paying state and federal taxes twice on it.

Reply #15

TheGameGrl — Mon, 01 Feb 2016 23:37:15 GMT

lump sum. reason: taxes will go up, so take the money and keep it out of Uncle sams hands. Why keep uncle sam in your payout each year? He'll just keep taking and taking.

Reply #14

DELotteryPlyr — Mon, 01 Feb 2016 23:21:29 GMT

YEA!!!!! We just got Cash 4 Life 7 mil vs 5,75

Reply #13

JoshUK — Mon, 01 Feb 2016 23:08:42 GMT

I just checked the UK Lottery website for 'win for life' games and we don't have any except for 1 scratcher which costs 1 and it's not even win for life, it's win 1000 a month for a year!

https://www.national-lottery.co.uk/c/files/scratchcards/1kamonthforayear.pdf~2

Camelot really need to revamp the other 2 draws/games they have....

Thunderball is terrible and Hot Picks doesn't seem to be all that good either, it's just a game that piggybacks off the UK Lotto results... [ More ]

Reply #12

Enigmas — Mon, 01 Feb 2016 20:04:23 GMT

Some States also allow you to put the prize in a child's name. The payments will then go into an account that the parent(s) control.

Something to think about...

Reply #11

JoshUK — Mon, 01 Feb 2016 19:51:12 GMT

Well, considering I am 22... I would take the $1000 a day option for sure....... although the cash would tempt me

Reply #10

RJOh — Mon, 01 Feb 2016 19:38:22 GMT

With Lucky for Life cash value being $5,750,000 and Cash4Life being $7,000,000 the decision could depend on the game.

Reply #9

zephbe — Mon, 01 Feb 2016 18:24:40 GMT

Because of my age I would take it lump sum. If I was 20 years younger I would take the annuity.

Reply #8

Mr E — Mon, 01 Feb 2016 17:37:56 GMT

The cash option for Win for Life is $5,750,000 and $7,000,000 for Cash 4 Life.

Reply #7

dallascowboyfan — Mon, 01 Feb 2016 17:01:36 GMT

Probably......heck legislation won't even allow for scratch-off tickets over $5.00 with a jackpot of $50,000.00

Reply #6

rcbbuckeye — Mon, 01 Feb 2016 16:38:01 GMT

Your casinos up there are probably making the state hold off on any other games.

Reply #5

levijean — Mon, 01 Feb 2016 16:37:20 GMT

An actuary once told me that you should take the payment option and sell it to a life insurance company - that they will typically pay you significantly more than the lump sum option. Something to think about if you find yourself in that position...

Reply #4

dallascowboyfan — Mon, 01 Feb 2016 16:33:36 GMT

If I can claim as a trust I would take the $1,000 per day if not then I would take lump sum. I wish Oklahoma would get this game but no our legislation won't allow it

Reply #3

rcbbuckeye — Mon, 01 Feb 2016 16:31:41 GMT

Have no idea. We don't have the for life games in Tx. But any other game that has a choice, I'm going with the lump sum.

Reply #2

RJOh — Mon, 01 Feb 2016 16:29:32 GMT

While Cash4Life and LuckyforLife top prizes are the same, are their cash values the same

Reply #1

rcbbuckeye — Mon, 01 Feb 2016 16:25:21 GMT

Lump sum....always.

A bird in hand is worth 2 in the bush.

If you were a Lucky For Life winner...

lulu1feather — Mon, 01 Feb 2016 16:19:39 GMT

If you were in Michael Donnellys shoes, would you have taken the lump sum, or $1,000 per day for the rest of your life?

FALLS CHURCH, Va. A Virginia grocery store employee's mistake during Powerball jackpot fever earlier this month ended up turning into a $7 million windfall.Michael Donnelly was ringing up Powerball tickets for customers at the Harris Teeter store in Falls Church. But for one transaction, he accidentally punched the wrong button on the lottery terminal and printed a Cas... [ More ]