A Megabucks or Powerball jackpot winner may select an ANNUITY or a CASH payment option. Whats the difference?
The estimated, annuitized value of a Megabucks or Powerball jackpot is the amount that the jackpot is worth when paid to a winner in annual installments. The ANNUITY payment option pays the jackpot prize in annual installments. If the ANNUITY payment option is selected, the Megabucks jackpot winner is paid in 25 annual installments and the Powerball winner is paid in 30 annual installments. The CASH payment option pays the jackpot prize in a one-time-only cash payment. The CASH payment option is generally 40-50% less than the estimated, annuitized jackpot amount. If the CASH payment option is selected, the jackpot winner receives the jackpot prize money that would have been invested in order to fund the estimated, annuitized jackpot. *If there are multiple winners of a jackpot on any given drawing, the jackpot prize money will be divided equally among all the jackpot winners for that drawing. Each winning jackpot ticket holder may select the ANNUITY or CASH payment option for his/her p
The estimated, annuitized value of a Megabucks or Powerball jackpot is the amount that the jackpot is worth when paid to a winner in annual installments. The ANNUITY payment option pays the jackpot prize in annual installments. If the ANNUITY payment option is selected, the Megabucks jackpot winner is paid in 25 graduated annual installments, and the Powerball winner is paid in 30 annual installments. The CASH payment option pays the jackpot prize in a one-time-only cash payment. The CASH payment option is generally 40-50% less than the estimated, annuitized jackpot amount. If the CASH payment option is selected, the jackpot winner receives the jackpot prize money that would have been invested in order to fund the estimated, annuitized jackpot. *If there are multiple winners of a jackpot on any given drawing, the jackpot prize money will be divided equally among all the jackpot winners for that drawing. Each winning jackpot ticket holder may select the ANNUITY or CASH payment option fo
Related Questions
- Why does a Megabucks or Powerball jackpot winner only get approximately half of the jackpot when he or she chooses the CASH payment option?
- A Megabucks or Powerball jackpot winner may select an ANNUITY or a CASH payment option. Whats the difference?
- A jackpot winner may select an ANNUITY or a CASH payment option. Whats the difference?
