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Lotteries offer games with a lumpsum option and games where the prize is "annuitized." On those games where the lumpsum option is available, the winner must make an irrevocable election with 60 days of the drawing. If there is no lumpsum option offered, or if the cash option election is not...

This individual (NY State lottery) is to receive 19 (remaining) annual payments of $50,000 per year (pre-tax). News reports suggest that the best offer he's received is about $200,000. That is terrible. A reputable purchaser of state lottery prizes (which can be "assigned" pursuant to...