Lottery Winnings

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How To Sell Your Lottery Payments

Winning the lottery may present you with a choice between a one-time payout and a long-term payment plan. If you are on an extended-term payout plan in the form of an annuity, we can assist you in the selling of your lottery payments for a lump sum of cash.

How Can I Receive My Lottery Payout?

There are two ways to receive your lottery winnings:

  1. Annuity – A long-term payout agreement. Annuities provide consistent, scheduled payouts over an extended period of time while building interest on the money in the annuity.
  2. Lump Sum – Receive the whole amount of your lottery winnings in a single lump sum payment. Winnings are taxable in accordance with applicable tax regulations for the year the lottery was won and the money was disbursed.


If you elected for an annuity as your preferred payout plan, but are now hoping to sell your lottery payments for a lump sum, we are here to help.

What Are The Differences Between Annuities and Lump Sums?

Annuities and lump sums both guarantee a payout of your entire winnings, but the payment schedule and tax regulations have significant differences.

●   One-time lump sum payouts mean winners are taxed once, and only once, on the full amount.

●   Annuities have limiting stipulations that keep winners from altering the payout conditions, even in the event of a financial crisis or an unexpected family emergency.

●   Annuities may prevent a winner from making large investments that would otherwise be possible with a large lump sum payout. Immediate lump sum payouts open up investment opportunities that have the potential to accumulate a stronger investment profile compared to what would be possible with an annuity.


Do Annuity Lottery Payouts Provide Better Tax Benefits?

If you choose a lump sum payout, the money is treated the same as any other form of income and is therefore subject to income tax withholding on the entire amount of the disbursement at the rate of that particular tax year.

This could place you in the highest possible tax bracket, but if you already plan to build and accumulate your wealth, this will be an inevitable outcome and may not be a deterring factor.

Can I Sell My Lottery Annuity Payments?

Reach out to your lottery company to determine whether your annuity can be sold. If it can be, consider the following:

●   Not all states permit the aftermarket sale of lottery annuities for lump-sum payouts. Be sure to check with your home state and, if the ticket was bought elsewhere, the state that the ticket was sold in.

●   If permissible, sell all or part of your future payments by negotiating and determining the terms of sale.

●   Court approval is required in almost all states to make a final determination as to whether you can sell the future payments.


How Do I Sell My Lottery Annuity Payments?

If you meet the prerequisite criteria and take the right steps, selling your lottery payments is not a complicated process. To sell your lottery annuity payments, follow these steps:

  1. Contact a Peachtree Financial Solutions Representative
  2. Retrieve a Quote for Your Lottery Annuity Payment Sale
  3. Agree to and Accept the Lump Sum Offer for Your Annuity Payments
  4. Obtain Court Approval for the Transaction
  5. Receive Your Cash in a Lump Sum

Are Taxes Withheld if I Sell My Lottery Payments?

Yes. Cashing in some or all future lottery annuity payments is considered a taxable event. Federal taxes are withheld from the disbursement according to federal tax regulations on the day the annuity is sold and the lump sum payment is paid out.

Get A Quote

If you intend to sell your annuity payments from lottery or casino winnings, or you are interested in any of the other structured settlement purchasing options we provide, please contact Peachtree Financial Solutions today. We provide free, no-obligation quotes for your lottery annuities.

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