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For the current jackpot, the cash option is $395 million. Deciding which option is best depends on a few different factors, ranging from your age and financial situation to your comfort with ...
In gambling terminology lottery payouts are the equivalent of RTP (Returns To Players). A lottery operator's gross margin is 100% minus RTP. In the US, large lottery winnings generally are advertised as an annuity amount, paid in 20 or more installments; in most cases, a cash option is available. The cash option in the US can be 40–60% of the ...
A lump sum lottery payout is a one-time cash payment, whereas an annuity payout provides annual payments over time. Depending on which state you win in and what lottery game you play, the payout ...
The tool also calculates your tax liability for each option. Mega Millions tax calculator To use it, enter the amount of your Mega Millions winnings, your tax filing status and state of residence.
Lucky for Life (LFL) is a lottery drawing game, which, as of June 28, 2021, is available in 22 states and the District of Columbia.Lucky for Life, which began in 2009 in Connecticut as Lucky-4-Life, became a New England–wide game three years later, and added eleven lotteries during 2015.
Top prize was $1000-per-week; there was a cash option of $1 million (offered when WFL became a Virginia-only game; when WFL began Virginia offered a $520,000 cash option, but the choice was eliminated the following year as neither Georgia nor Kentucky offered winners a cash option.) Second prize was $52,000 cash.
Cash option values (which can change periodically), as of April 2021, are $7,000,000 for the top prize, and $1,000,000 for second prize. ‡ The top prize is "split-prize liability"; in essence, a non-progressive jackpot. Winners of either "lifetime" prize tier can receive cash in lieu of the lifetime annuity.
In November 2022, the Powerball lottery broke records for any lottery drawing in history, with a $1.9 billion jackpot. The jackpot starts at no less than $20 million and grows by at least $2 ...