There are two main ways to receive your reward upon winning a Powerball play. You can receive the money all at once, or you can have it sent to you in annually payments. The amount of money sent to you depends upon what the current Powerball jackpot is at this time.
If a person wins the Powerball jackpot grand prize that person will usually either be paid in annual payments or will receive one lump cash sum. If a person chooses the cash option they will be receiving the current actually cash amount. If they choose to have their prize payments sent to them annually they would receive payments every year for 29 years in a row. Each payment will be increase by a certain percentage as well, in order to keep up with inflation rates.
There is a reason some people would consider the cash option over the annuity option. They may consider the principal amount more than enough to meet their needs, and to have the lifestyle that they always dreamed of. For instance, they could take long vacations, and possibly reduce the number of hours worked on a job, or even or eliminate needing to work a job altogether.
Furthermore, they can improve their home, pay off past debts, and help their families, and give money to charities. Furthermore, they may not want to wait to get their hands on their money, and they may feel more secure knowing it is in their hands already.
Another reason why people would want to consider the cash option is they may want total control on how they want to invest the money in order to profit from it. For instance, they may use a portion of the money for business or corporation start-up costs, and they may need a lump sum to get started.
They may also decide they want to purchase real estate with it and not have any huge monthly payments and they can still get a return on their investment. Either that or they may consider purchasing stocks and bonds. In some cases people will take the lottery ticket payment in one lump sum because they believe they can do better on their investment than if the payments were sent to them on an annual basis.
If you have just won a large sum of money from a Powerball option you will usually have up to 60 days to decide how you want your reward paid to you. You will want to consider this decision very carefully. If you need help deciding how you want your money that you have won playing Powerball you can contact financial and legal professionals, such as tax preparers or budget counselors.
If you choose to consult with professionals regarding your lottery winnings make sure you choose a person with a good reputation. Furthermore, you will want to work with someone who has the proper credentials, and is licensed to deal with tax issues and/or financial accounting issues. The more knowledge and experience that a financial expert has the better decision you will make regarding your lottery ticket winnings.
Another way to receive help regarding the Powerball lottery is to e-mail a Powerball representative. Even though they do receive many e-mails, especially during the time a prize is being called (as many as one a minute), they are more than happy to answer any questions you will have, and will do so as soon as possible.
You will also be able to read other articles available, which educate Powerball participants on all aspects of the game. You can find answers not only regarding cash payments vs. annuities, but you can also find information about all the different ways people can win at the game, and the odds of winning each cash prize that is disbursed.
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From: Sandi Spidell Comment: My comment is that this didn't answer my question at all!!!!! All I wanted to know is how much does 3 numbers right on the Arizona Powerball pay?!!!!! The page long reply above did not answer my question. Why can't I get an answer to my question???? Is this just an automated reply to any question asked??!!!
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