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N.C. town abuzz over $88M Powerball lottery jackpot winReply
congrats to the lucky winner or winners, wish it was in tennesee... at least i can go to GA and play mega millions tomorrow and win the same amount of money for less annuity but i have to pay more tax i really don't think i will care if and when i win... and don't worry lottery post i will mention your name at my press conference also this may help the questions about difference in jackpots from the Lotteries. The mega millions corp. pays 55% to the winner in cash and powerball pays only 45%
Jun 22, 2009, 10:49 pm - adamc224 - Lottery News

Cash option and taxesReply
Why do you feel the need to defend the state so much? An average joe who wouldn't even think about an annuity option and would need some clarification indicating so. And on the state site, if you look under the classic 47 part, you will see that it does say you have a choice between annuity and cash option, but it doesn't say exactly what the cash option would be. It just says that it's about half of the estimated annuity jackpot. But that's beside the point. It's bad enough that the o
May 6, 2009, 1:46 pm - Classic47 - Lottery Discussion Forum

Collecting Big WinningsReply
When Paid A payment of winnings is considered made when it is paid, either actually or constructively, to the winner. Winnings are constructively paid when they are credited to, or set apart for, that person without any substantial limitation or restriction on the time, manner, or condition of payment. However, if not later than 60 days after the winner becomes entitled to the prize, the winner chooses the option of a lump sum or an annuity payable over at least 10 years, the payment of winn
Nov 30, 2008, 3:58 pm - mjwinsmith - Lottery Discussion Forum

$132 million Mega Millions jackpot was purchased in Mableton, Georgia.Reply
well in 2006 it was Ohio every one was getting upset about winning the Major jackpots and if I am not mistaken in 2005 it was New York ....in 2007 it was Texas ands New Jersey with 2.25 jackpots each and it was 9th ranked New Jersey beating out 2nd ranked Texas by approx 40 million annuity dollars....This year its Georgia and a very quiet Michigan with 2 jacpots each...however Georgia only has 36- 2nd teir prizes and Michigan has 31, while New York and California are tied with 77 each.... In
Sep 3, 2008, 9:37 pm - fja - Jackpot Games Forum

the "EZMONEY" pollReply
His thread says I won A $86million annuity. If you won would you say that or something like, I won the $86 million jackpot, not sure yet if I'm going to take it as an annuity or not. And no, this is not intended as another cash vs annuity discussion, I'm just talking about the wording of the title of his thread.
Aug 7, 2008, 9:46 am - Coin Toss - Lottery Discussion Forum

payout/jackpot questionReply
Blackblue There are two ways to collect most jackpots (ie MegaMillions or Powerball and most state lotteries) - either by taking it as an annuity that pays out over a certain number of years (25 years for Megamillions and 30 for Powerball - check your own state's lottery website to see what their deal is). Or you can take a cash option which pays you the amount of money the lottery organization would put into an annuity to generate the payouts over their particular time span. It is not exact
Jun 16, 2008, 12:04 am - djklaugh - Lottery Discussion Forum

Payout of winnings less than jackpotReply
Justxploring Coin Toss, Powerball is a 30 year annuity. (MM is 26) However, the annuity for PB is graduated. The first check is the smallest and then it will increase every year for 29 years. Thanks, I wasn't sure. I think that teaches us that every discussion we've ever had it about cash vs annuity should include the person's age!
Jan 7, 2008, 7:26 pm - Coin Toss - Lottery Discussion Forum

Hoosier LotteryReply
What's with this only stuff? Only 40% of 42 million? Even if it was exactly 40%, I'm sure that's a lot more than what you have right now. Also the Hoosier Lottery website states this: Q. What is the difference between the cash option and the annuity option in the Hoosier Lotto game? A. The Hoosier Lottery advertises the estimated annuity jackpot. If you win, this jackpot amount is paid in equal annual payments over 30 years. However, within sixty (60) days of the drawing, the winner may e
Aug 9, 2007, 11:33 am - Guru101 - Lottery Discussion Forum

What is wrong with this picture ?Reply
$25.3 million is the current price for purchasing a $44 million 26 year annuity. The lottery commission gives jackpot winners the option of purchasing an annuity for them or a one time payoff of the cost. Yeah, I know, we have discussed this ad nauseum, and I also know folks will pipe up and say '7 mill is better than zero - I'd take it', but still, after taxes, they get just 31.8% of the actual 'jackpot'. This pre-tax jackpot of $25.3 million was split by two people (After taxes, each w
Jun 14, 2007, 8:10 am - Stack47 - Jackpot Games Forum

MegaMillions advertised annuityReply
Counting Man: Thanks for the sharing the spreadsheet.If I understand correctly, (which is no guarantee since I do not have a financial background)The Lump Sum amount and the annuity payment amount will be roughly the same after twenty-one years.But does this not assume that an intelligent investor is behind the scenes ensuring an 8% return? For example, if a person left the money in a savings account at roughly 3% interest how could one ever get the 8% return being projected? I do not kno
Apr 9, 2007, 1:27 pm - kjs703 - Jackpot Games Forum