How does "Win for Life" games work?

Reply #13

Stack47 — Fri, 15 May 2009 20:13:22 GMT

I too noticed that we were talking about 3 or 4 different Win for Life games and responses were meant for each particular game. Powerball has lotto type Win for Life game that is played in only Georgia, Kentucky and Virginia. Michigan is running a Win for Life Raffle and many states have scratch-off games with same name.

How the prizes are distributed depends on the individual state game so the rules vary.

Reply #12

MaddMike51 — Fri, 15 May 2009 00:23:31 GMT

Why should you apologize.The poster didn't specify that it was a raffle.Win For Life games apparently come in several forms in different states.In Illinois it is a $2 scratch off ticket.

Reply #11

TheGameGrl — Thu, 14 May 2009 22:36:24 GMT

My apologies for not realizing it was the WIN for LIFE Raffle. Will be more carefull in how I respond and what state the person was inquiring of. Interesting though to read the varience on some of the states rulings.

Reply #10

SmoothJuice — Thu, 14 May 2009 07:13:05 GMT

Well, I finally got clarifications about the Win for life game. Here's the email that I sent and the reply.

Edit: You can't Copy and Paste on these forums for some reason.

Anyway,

The Michigan Lottery PR said that the prizes are guarenteed for life like the prize says. Win for Life really means Win for Life . And the Maximum transferable years is 20 years. Now I know that this is the best dang prize ever in the lottery. You don't have to worry about tons of money in your bank... [ More ]

Reply #9

Stack47 — Thu, 14 May 2009 00:30:45 GMT

Win for Life is played in Georgia, Kentucky, and Virginia so you're talking about a different game.

Reply #8

MaddMike51 — Wed, 13 May 2009 18:05:28 GMT

It means that if you die before 10 years is up the lottery will pay your estate the balance due,up to ten years.If you step off of the curb and get hit by a car and killed after leaving the lottery headquarters,they will still pay your estate ten years worth of winnings.I believe that the state of Illinois guarentees that you will get one million dollars before taxes.

Reply #7

SmoothJuice — Wed, 13 May 2009 17:58:01 GMT

For a minimum of 10 years? What's that suppose to mean

Reply #6

Think — Wed, 13 May 2009 14:45:14 GMT

Lately, in Michigan, you can take the cash option which should be $750,000 before taxes.

Michigan has done win for life before but I am not sure how those worked.

They started as $1 scratchers then they went to $3 scratchers and then $5 scratchers.

I dont remember if they ever did a $2 scratcher version.

Now it is a $20 raffle.

Reply #5

lottolaughs — Wed, 13 May 2009 14:34:21 GMT

This is what it states on the Georgia website--

*Subject to the published rules of WIN FOR LIFE and the Georgia Lottery Corporation, more than five (5) Grand Prize winners or more than twelve (12) Second Prize winners in any drawing may result in that prize amount becoming pari-mutuel. The top prize of $1,000 a Week for Life will be paid quarterly in a lump sum of $13,000 each, for a minimum of 10 years.

They really have no business calling these games... For Life. And if you are... [ More ]

Reply #4

SmoothJuice — Wed, 13 May 2009 04:07:28 GMT

You've got to be kidding me. The lottery will actually screw you like that? So it's not really Win for Life ? There's actually a guaranteed limit? You know what, I planned on buying 5... but now I will only buy 1. This puts me down. I had my hopes up too. I thought this was the perfect prize.

Reply #3

TheGameGrl — Wed, 13 May 2009 02:46:58 GMT

In PA its paid out in Yearly installments: 52 K less the 25% minimum Federal tax cut.

PA invests in Stocks and bonds so as to recoup the funds that are kept aside for payouts on long term installment plans.

Usually they CAP the terminology on some of the win for life games at 28 years of guaranteed payout. Some states may be less years though. Trust me, when you claim that kind of prize they add that terminology of how many years are guaranteed.

The Pros and Cons differ depending upon t... [ More ]

Reply #2

Stack47 — Tue, 12 May 2009 16:24:49 GMT

Kentucky pays quarterly so the winner gets a check for $13,000 minus the taxes every three months.

Win for Life has a set jackpot so how much profit the lotteries can make off games like that depends on the volume of pay and odds against winning. With odds of 1:5,245,786 to win the jackpot, they don't expect to have more winners than what they take in. Coupled with overall odds of winning anything at slightly under 1:40, the lotteries can make a nice percentage profit too.

Reply #1

tiggs95 — Tue, 12 May 2009 14:05:26 GMT

Here in Ky I think they pay you a check every 4 months and take out the taxes..They will deposit your check in your checking account..Not sure of all this but this is what I have read..

How does "Win for Life" games work?

SmoothJuice — Tue, 12 May 2009 11:35:43 GMT

Do you receive a check for $1,000 for the rest of yoru life? Are taxes taken out weekly? How in the heck can lotteries make money off of these kind of games