Do European countries advertise their lottery jackpots by annuity value like America?
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vs. cash values? Euromillions or Germany's LOTTO 6 aus 49 for example: http://www.lotto.de/de/ergebnisse/6aus49_results/archiv/results_6aus49.xhtml (in German)
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Answer:
I'm not sure what other countries do, but in general they advertise exactly what you get. I know of no lottery that gives you a lifetime pension. I know of three kinds of lottery prizes, here in Italy: - the prize is an amount of money, and is paid right away (sometimes you get it in two or three separate payoffs, but it takes only up to a few months to get them all, and the amount includes legal interests from the day of the lottery to the day of the payoff). They are generally advertised by the total nominal amount of the richest prize (which may or may not be a variable jackpot). - the prize is a monthly income for a certain number of years (inheritable if the winner passes away it's paid to heirs). Sometimes an initial higher payment followed by a monthly income. They are advertised as such. - the prize is something else, and it is what is advertised. For example there is one lottery whose prize is a house of your choice up to a given maximum value. If you win you just hit the real estate market, choose a house (not costing more than the maximum allowed) and the lottery office will pay the seller (you still have to pay property, transaction, registration taxes and fees, however, which makes that lottery not very popular). Note: tha vast majority of lotteries are the kind that you get paid all at once (or at worse, within a few months).
Andrea Ferro at Quora Visit the source
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