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Annuity Lottery Games

The National Lottery have announced they are set to launch a new annuity game in 2019. These types of lotteries are already popular all over the world, giving players the chance to enjoy a different and exciting format, with winners receiving a guaranteed regular income as a prize instead of a one-off, lump sum payment. Continue reading to find out about changes expected to come into Lotto, an insight into annuity games, and how they work in other countries.

What does annuity mean?

An annuity is a fixed sum of money paid to someone each year. It will normally continue for the rest of a person’s life. National Lottery operator Camelot has been exploring the option of an annuity lottery as a possible way to attract new players, who might be more interested in the idea of long-term financial security than a single large payout.

How Might the New Game Work?

Any player who wins the top prize available in the National Lottery’s new annuity game is expected to receive a guaranteed regular income of thousands of pounds every month for at least 25 years. Whilst the exact figure, prize tiers and cost of playing aren’t yet known, it is likely that the format of the game will follow a similar template to other annuity lotteries in different countries.

Players are generally required to select numbers from a specified range just like a traditional game such as Lotto or EuroMillions, and there are various prize tiers based on how many numbers you can match. The only difference is that the players in the top one or two prize tiers are paid a fixed regular amount rather than a lump sum.

This page will be updated with further information about the UK Lottery Annuity Game as and when it is released.

Annuity Games Around the World

Take a look at some of the most popular annuity style lottery games from around the world:

Cash4Life (USA)

Cash4Life requires players to choose five numbers from 1 to 60 and a Cash Ball number from 1 to 4. There are nine prize tiers, and the bottom seven are fixed one-off cash awards ranging from $2 to $2,500.

Anyone who matches all five main numbers plus the Cash Ball will win $1,000 a day for life, while players who match all five main numbers without the Cash Ball receive $1,000 every week for life.

Lucky for Life (USA)

Similar to Cash4Life, Lucky for Life offers two top-tier annuity prizes (which can be claimed as a lump sum) along with lower tier prizes that are paid in cash and are not recurring.

Anyone managing to match the five main numbers and the Lucky Ball will win $1,000 a day for life, while anyone that can match the five main numbers without the Lucky Ball will win $25,000 a year for life.

Set for Life (Australia)

Australia’s Set for Life is another example of a popular annuity game. Players can win the top prize of AU$20,000 a month for 20 years if they match eight numbers out of 37, while the other seven prizes are one-off payments for matching fewer numbers.

Read more about Set for Life.

Advantages of Annuity Games

Annuity games may not offer the same colossal jackpots as lotteries such as EuroMillions or Lotto, but they do provide a guaranteed steady income. Some players who have received one-off jackpots have quickly spent all their winnings, but you can never run out of money if you land the top prize in an annuity lottery as there will always be another payment on the way.

Some lotteries give players a choice between an annuity and a lump sum, and accepting the regular payments can be far more lucrative. Canadian teenager Charlie Lagarde had to decide whether to take a single payout of C$1 million or C$1,000 a week for life after she won the Gagnant a vie (Winner for Life) game in March 2018. She chose the weekly payments, and now stands to collect more than C$3 million if she lives into her 80s.

Lagarde’s win came from her very first lottery ticket as she played the game to mark her 18th birthday, and the odds of winning annuity lotteries are usually a lot better than other games. The chances of winning Cash4Life in the US, for example, are 1 in 21,846,048, while the odds of landing the Powerball jackpot are 1 in 292,201,338.

While Lagarde was 18 when she won, players who are not as young can still take comfort from knowing that their family will be financially protected. Each game is different, but in current annuity games the payments will just switch to a family member. In Cash4Life, for instance, the annuity lasts for a minimum of 20 years, so the winner’s estate will continue to receive $1,000 every day if they pass away before this time.