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What is the difference between claiming Cash or Annuity Options?

April 26, 2017Annuity cash claiming lottery Options wa lottery

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What is the difference between claiming Cash or Annuity Options?

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For Lotto, the ‘Cash Option’ means winners have the choice of receiving a one-time, lump-sum payment worth half of their share of the advertised jackpot. The ‘Annuity Option’ allows a winner to take their share of the jackpot in annual installments over 25 years. To see approximate amounts for Lotto cash or annuity options, see the Cash Option Reference Table. For Mega Millions, winners can choose the ‘Cash Option’ and receive a lump sum payment equal to approximately half of the advertised jackpot. Winners choosing the ‘Annuity Option’ receive their portion of the jackpot in annual installments over 26 years.

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ForLotto, the ‘Cash Option’ means winners have the choice of receiving a one-time, lump-sum payment worth half of theirshare of the advertised jackpot. The ‘Annuity Option’ allows a winner to take their share of the jackpot in annual installmentsover 25 years. To see approximate amounts for Lotto cash or annuity options, see the CashOption Reference Table. For Mega Millions, winners can choose the ‘Cash Option’ and receive a lump sum paymentequal to approximately half of the advertised jackpot. Winners choosing the ‘Annuity Option’ receive their portion of thejackpot in annual installments over 26 years.