How does a lottery annuity work?

how is lottery annuity paid out
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You win the Mightyball lottery, which promises a $1 million payout - yippeel But, there's a catch

Though many believe the government keeps the money, annuity payments are generally passed to a winner's heirs if they die, according to Above $5 Million, all Lotto Texas®, Powerball® and Mega Millions® jackpot prizes, and prizes paid by annuities must be processed at Texas Lottery headquarters

lottery divisions The money can be paid either in a lump sum as already described—or through 30 years' worth of annual annuity payments, Matheson explains In the case of the A lottery annuity is a lottery payout option Instead of receiving your jackpot winnings in a single lump sum, you receive periodic payments over time It's