Win for life tickets

Reply #15

wander73 — Tue, 23 Aug 2016 13:07:26 GMT

I guess that sounds about right. Those amts you mentioned. It's just not really worth it winning a huge lottery amt. Most people need to be educated as to if they win a major amt what they really will get.

That winner you mentioned good for him because I was told that the interest rate and the equity amt could change per year.

People don't understand taxes and their tax brackets.

Reply #14

Funtimz — Mon, 22 Aug 2016 21:59:11 GMT

Had to go to NYC this past weekend bought $20 worth of Win for Life tickets got Zilch...Living in Upstate NY where there are hardly any winners I expected that here. Buy at least thought in the bigger city I would get something back...

Reply #13

Dracos — Mon, 22 Aug 2016 19:24:07 GMT

Half a million for 20 years and then a guaranteed 100k/yr paycheck for every year after?

In my opinion, I'd say the annuity is a no brainer for anyone in the 20-40 range. Any older than that, then I can see the lump sum being the safest route.

Reply #12

Enigmas — Mon, 22 Aug 2016 19:06:12 GMT

I just remembered a couple of years ago a guy in NY won a scratch off named Win for Life Spectacular. Guaranteed payout of 10 million or 10K a week for life. However the For Life has a cavet. If you take the life payments you get 520K a year for 20 years, then after the payout drops to 120 or 180K a year, i forget which.

I would often be baffled as to why relatively young winners choose the lump sum instead of the annuity until i read about this.

Reply #11

Unluckyloser — Sun, 14 Aug 2016 21:29:16 GMT

There are winners in those games just like any other scratch game. The odds are higher, the payout depends on the game but usually 20 years, I don't see why anyone would continue working, the advertised payout is annualized so if you win you have the option of getting the cash value option which is one lump sum payment about a little more than half the advertised jackpot.

Reply #10

Enigmas — Thu, 11 Aug 2016 00:27:37 GMT

Someone in Brooklyn just won the 10K a Week For Life jackpot and opted for the one time lump some. From a guaranteed 10 million he opted for the lump sum and after taxes is taking home 5.3 million.

As a side note this is the third 10K a Week jackpot sold in Brooklyn in the past 5 or so years, two were sold at stores near me, one of which I went to every week but never purchased games from them. This one, thank goodness was no where near me although I have past the store occasionally when I'm... [ More ]

Reply #9

Unluckyone — Wed, 10 Aug 2016 23:16:01 GMT

Most of the tickets I bought in Florida ended up winning nothing. The few I did win only paid out the face value of the ticket itself and that was a $20 ticket. The $5 and $10 tickets have given me nothing but goose eggs. Maybe it's me but I took a stab at it and just got abused by it.

Reply #8

Tatototman65 — Sun, 07 Aug 2016 18:26:46 GMT

In my opinion, these are the only scratch games worth playing.

Reply #7

Enigmas — Sun, 07 Aug 2016 17:55:36 GMT

I forgot to add with cash 4 life the two top prizes get split in the event more than one person wins. So instead of 1K a day, two winners would split 500 a day. Same for the second prize.

Reply #6

wander73 — Sun, 07 Aug 2016 17:51:03 GMT

The key here is what you outlined. Thank you for pointing that out.

Reply #5

wander73 — Sun, 07 Aug 2016 17:49:36 GMT

Can you elaborate on that more so you got a lot less than what their advertising is what you're saying

Reply #4

Unluckyone — Sun, 07 Aug 2016 14:23:02 GMT

I have played cash for life scratch offs in most of their denominations and have little to show for it. Probably spent several hundred dollars and got back a third.

Reply #3

Enigmas — Sun, 07 Aug 2016 13:05:31 GMT

Cash 4 Life has two different for life payouts. One is 1,000 a day for life. The other is 1,000 a week. They have a garunteed minimum payout of 7 million ans 2 million i believe. There have been several winners of both prizes including at least one unclaimed and since expired winner.

Win for life instant games have the garunteed amount on the ticket. They range from 2-10 million.

Whether or not toy can retire on winning depends on your lifestyle. The smallest amount is 1,000 a week or 4k a... [ More ]

Reply #2

Brcebrce — Sun, 07 Aug 2016 06:11:18 GMT

I think it is guaranteed for 20 years, that is what the cash value is based on. If I won. I would do a little math see if I could just live on part of winnings and invest rest. Would need to get the higher w8n for l8fe games though.

Reply #1

keepitreal — Sun, 07 Aug 2016 05:59:30 GMT

Some guy from New York won cash for life. $1,500 week for life. He got 1.5 millions all at one time. After tax that like $900,000. I don't know how much he got but his check said 1.5 million.

Win for life tickets

wander73 — Sun, 07 Aug 2016 05:43:55 GMT

Does anyone know if anyone has ever won on these tickets? cash for life, win for life, etc.

What is the payout? How long on the payout? Would anyone actually stop working