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Major claim deadline approaching for Illinois lottery winner of $1.337 billion Mega Millions jackpotNews Story
They don't have as much time as it seems By Kate Northrop A crucial deadline for claiming the record-breaking $1.337 billion Mega Millions jackpot drawn in July is approaching for the single Illinois-based lottery winner. The lone Illinois winner of the unimaginable $1.337 billion Mega Millions jackpot is only weeks away from a major deadline that could have a huge impact on the amount of money they get to walk away with. For a prize of this magnitude, it's not unusual for the wi
Sep 12, 2022, 7:16 am - Todd - Lottery News

Why isn't there a choice to split the Lump sum and the Annuity?Reply
Obviously an option, but it's an inferior option. The lottery invests the entire untaxed cash value, but if you take the cash you'll only be able to invest what's left after you've paid taxes. Current cash/annuity values are a bit lower, but if we figured the cash value of the $50 million mentioned by the OP was 60% a split option directly from the lottery would give you $15 million cash (pre-tax, or about $7.5 to $10 million net) and a $25 million annuity. The DIY option would start as $30 m
Jul 1, 2022, 9:57 pm - KY Floyd - Lottery Discussion Forum

If you won big - would you take the cash option or annuity?
I was curious to see what people would pick - I would have thought most would pick the cash option - control your investments, etc. However, I talked with a few people I know this last week and was surprised how many would prefer the annuity to have structured payments so they can't access the lump sum vs a trust. What do you think?
Apr 25, 2021, 4:32 pm - Unlucky-Kenny - Lottery Discussion Forum

Something looks a bit odd with MM jackpot & cash option.Reply
I'm not sure if it's happened before, but the annuity is always an imaginary amount based on what can be bought with the cash value. Because interest rates got cut between jackpot estimates the size of the annuity that can be bought with a given amount of cash went down. Of course most people who don't work for the lotteries realize that the cash value is the only thing that matters, and the cash value will go up based on actual ticket sales. Those who work in marketing for the lottery like t
Mar 9, 2020, 3:18 am - KY Floyd - Jackpot Games Forum

Brooklyn truck driver quits job, comes forward as $298M Powerball winnerReply
Need200k, Taking the cash doesn't remove anything. The advertised jackpot amount is if a winner opts for the anniity from the power ball website; Dollars Sense Value of the Annuity Jackpot winners can either select their prize as an annuity or a lump-sum payment. If the annuity option is selected, the winner is guaranteed to receive 30 graduated payments over 29 years. The annual payments increase by 5% until the 30th and final payment. The 30 payments added up equal
Jan 25, 2019, 11:33 pm - Coin Toss - Lottery News

$1 BILLION MEGA MILLIONS LOTTERY DRAWING TONIGHTReply
Do you think your house is worth more than it's current value if you don't plan to sell it for 10 or 20 years? The annuity is an asset that can be counted, but if you want to calculate current net worth you'll need to use the current value of the annuity. That current value is what the lottery calls cash value. As for taxes, they're one of the liabilities. A winner never even gets the full cash value or annuity payment, because they're reduced by 25% for federal tax withholdings and further r
Oct 19, 2018, 9:34 pm - KY Floyd - Lottery News

Mega Millions $252,000,000.00Reply
Them's my sentiments 'zactly, CT. (in regards to higher taxes in the future) Ya never know. Not sure why anyone over the age of 40 would take the annuity, but to each his/her own, I guess. My problem with the annuity schedule is not so much my dying before it's paid out, but that it's tremendously back loaded. As per the Texas annuity schedule, the first payment is $4,139,145 (before taxes) and the final one is $17,037,281. Why, you don't hit a ten million dollar payment until year 20.
Sep 19, 2018, 10:07 pm - mikeintexas - Lottery Discussion Forum

$535 MILLION: Huge Powerball sales sparks early jackpot increaseReply
It has. Back in 2013, Powerball advertised an estimated jackpot of $600 million annuity and yet the final tally at draw time was ~$590 million. I'm surprised the Powerball consortium didn't cover the difference like many states do with their in-state jackpot games. Doesn't inspire confidence to see a jackpot advertised at X amount and then see the final payout being noticeably less. It wasn't a huge difference, relatively speaking, but deceptive advertising nevertheless. Many lotteries don't
Aug 18, 2017, 8:09 pm - Ron5995 - Lottery News

State lotteries losing revenue to 'jackpot fatigue' and casinosReply
I'm surprised you've been around as long as you have and yet don't know the difference between the cash jackpot and the annuity jackpot. Where's the $88,700,000.00 million dollars ? LOL. It didn't go anywhere! The cash jackpot amount is the real jackpot. It's the amount that the lottery would need to invest in an annuity to pay the $143,000,000 over the life of the annuity. So if you want payments over 30 years, they invest that 88 million to reach 143 million over 30 years. Most people, me incl
Jul 15, 2017, 10:23 pm - rcbbuckeye - Lottery News

$435 MILLION: Powerball lottery jackpot on track to 17-month highReply
Almost all LP Members and the staff enjoy these humongous jackpots! Did you know that Don McNay passed away two years ago? He was a prolific author of Lottery books. He is on YouTube. He believed that most winners should go the annuity route. He learned from others who chose either the lump sum or annuity. The Lump Sum clients lost most of it in five years. The ones who chose the annuity are still enjoying life. noise-gate, I am not worried about you.
Jun 8, 2017, 1:24 pm - music* - Lottery News