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What is the difference between the two jackpot payment options and do I have to choose an option at the time I purchase my Lotto, Mega Millions or Powerball ticket or a Lotto or Mega Millions subscription?

You do not choose a jackpot payment option at the time of purchase. If you win a jackpot, you will have up to 60 days to choose from the date you claim your prize at a Lottery Customer Service Center. If you would like to receive your jackpot prize in one lump sum payment, you will receive the estimated present cash value of the advertised jackpot. If you would like to receive annual payments, all those payments are made by deposit wire. Those prize payments will be graduated payments, increasing in amount each year for 30 years.