Lottery player wins $25,000 annually for life — how much would the lump sum prize be?
Someone in Canada will soon claim a life-changing amount of cash after winning the lottery.
The Daily Grand draw took place on Monday, September 30, and the winning numbers were 06, 18, 25, 35, 43, and Grand Number 05. According to PlayNow, no one won the top prize of $1,000 a day for life.
Although no one will be taking home the jackpot, someone did match five of the winning numbers, netting themselves the second prize worth $25,000 a year for life. According to the Atlantic Lottery Corporation (ALC), the winning ticket was sold in Newfoundland and Labrador.
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Receiving $25,000 a year for life is definitely a sweet prize, but how much can they claim if they opt for a lump sum?
According to the Daily Grand game conditions, a second prize winner can claim a lump sum cash payment of $500,000. As for the top winner of the $1,000 a day for life prize, the lump sum cash payment is worth $7 million.
Also, the lump sum will be shared if more than one lottery player matches the winning numbers.
Some players who opted for the lump sum include Francisco and Daniele Hernandez of Elderbank, Nova Scotia. The couple won the game’s second prize and opted for a lump sum of $500,000, which they plan to use to buy a brand-new Tesla Model 3 electric car and a four-wheeler for their children.
Mahmoud Mohajer of Nepean, Ontario, split the second prize with another winning ticket and instantly became $250,000 richer. Mohajer said he’d be using his windfall to travel and put the rest away in savings.
The next Daily Grand draw is set for Thursday, October 3.
Would you rather go for annual payments or the lump sum? Let us know in the comments.
All forms of gambling, including the lottery, involve risk and outcomes are based on chance. Individuals are strongly advised to gamble responsibly. If you are experiencing any signs of gambling-related issues, you can find resources here.