Gaming awards winner and lottery winners both have to deal with this dilemma. If you are the winner of a state sponsored lottery or if you have been fortunate to have won a casino jackpot you may be surprised to discover your award is to be paid in a series of monthly installments or an “annuity”, rather than an immediate lump sum award. You have additional options to receive these funds, however, available through us.
As the winner of a lottery or gaming jackpot,you can elect a complete Lump Sum Cash Out of your periodic payments, sell a percentage of the award, sell a specific number of future payments, or any combination of those options. You can use such a Lump Sum Cash Out of your award to:
- pay off bills, credit cards, and consolidate other debts
- pay for unforeseen medical expenses
- settle legal matters / divorce
- pay for educational or retraining expenses
- start a new business
- plan your estate
- build a new dream home
- take an exotic trip or vacation
- purchase a new vehicle
- take advantage of a new investment opportunity
- simply cash out and make a clean break
Lottery Payout Options
The most important decision that a lottery winner has to make is to collect the prize money all at once or in installments.
The one option is Lump Sum Payout: Winner gets to take the money home after taxes have been deducted.
Important Information: The payout policies vary depending on the state and territory you are under. Additionally company may have its own set of policies to pay a large sum of winning money.
Gaming Awards – What happens to the prize money
The experienced annuity contract buyers can assist you in receiving the maximum amount of Lump Sum Cash for your Gaming or Lottery Awards should you find the need. Additionally, you may elect to sell only a portion of your award for immediate cash and continue to receive a monthly check on the balance.
Want to find out more? Why not contact us. We can set up a direct conference call with one of our highly experienced annuity contract buyers who can answer all your questions and provide you with a quote and your many cash out options. Contact us