Man Wins $5 Million Jackpot on New York Scratch-off Game, but Takes Home Just $3.2 Million

$5 million

[{"selector":"#anim-3b34d5c3-b6e8-444a-9434-1d45720091e3 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-31.245673628700633%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-da7d3bf5-cd8b-45a0-b504-170d8262d17a","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-bccae3a6-b0c6-4e42-9c7f-cdc946abcf32","keyframes":{"transform":["translate3d(100.00000%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-abba0e51-ef23-4987-9484-5f39b97d29be","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-d43c57a2-32c0-4a49-87d9-9ead5350eac5","keyframes":{"transform":["translate3d(-100%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] A lottery winner from Kansas City wins $5 million on the New York Lottery's Cash X100 scratch-off game.

$3,255,000

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[{"selector":"#anim-6da6f8c6-d778-4d53-b5ec-d55074e8cd4e [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-32.96449406005333%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-e71ae8d0-9d6f-4f84-884d-1b8a5adfd30f","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-abb6b54f-126f-4470-954c-3d70b26dde45","keyframes":{"transform":["translate3d(99.03381%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Opting for yearly payments typically results in higher overall winnings after taxes and fees

[{"selector":"#anim-c9168d46-c003-4c9c-b264-1c9b160f47ea [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(31.299866907804912%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-bf00dd0f-348d-45f0-b521-feb5a18a6c26","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-04c1489c-338a-4d0b-abe0-e014648717bc","keyframes":{"transform":["translate3d(99.03381%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] The decision to take a lump sum or annuity payment is crucial for lottery winners

[{"selector":"#anim-65ce9c59-a6b9-4950-8d9d-72acf71be310 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-31.249999886225726%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-f3d951f1-239f-42e2-8dfc-11598e15eeb8","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-5ffd382d-b743-4b4a-8771-5f4bb47bf03d","keyframes":{"transform":["translate3d(99.51691%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] An annuity offers a guaranteed income stream for 30 years, providing peace of mind.

taxes

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[{"selector":"#anim-34b8a9ef-7b75-49ee-b57c-7badab6a10d8 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-12.072308164016821%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-da9ac773-c9c5-4c87-bf34-393980b3fa4d","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-2a1f4134-6999-4f63-a802-44bd1fc2ea2b","keyframes":{"transform":["translate3d(99.03381%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Taking the lump sum option can be a potential mistake, according to a Chicago-based lawyer

[{"selector":"#anim-93e469a4-226d-4a08-8a3c-1fea9329e244 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(31.172520546912608%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-8f62165e-e917-449e-ba94-839f90378287","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f228527c-8751-44af-ac9c-336e0869b5df","keyframes":{"transform":["translate3d(99.03381%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Spreading out payments allows winners to assemble a skilled team to manage their finances effectively.

[{"selector":"#anim-d539b1ee-dd7c-406a-9566-45b1148ae98d [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-31.249999886225726%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-07c00e1c-be44-4ed4-866e-2591006b5db8","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-cdfbc4eb-4a74-44f8-a0f1-c502d7e5441d","keyframes":{"transform":["translate3d(99.03381%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] The odds of winning the $5 million jackpot are 1 in 4,498,390, while the chances of winning back $20 are 1 in 10.

[{"selector":"#anim-a0434da9-e516-4843-a4dd-455ad647c324 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(31.249999886225726%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-207e93f3-c20a-453f-944d-5d950a0554d1","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-994996ad-e5ae-494d-bf55-dc4ddf70adf3","keyframes":{"transform":["translate3d(99.03381%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] New York Lottery contributes billions of dollars to educational programs through profitable scratch-off games

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