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Verified Hobbyist
BCD
If you take the lump sum you let the multi-state lottery set the discount rate applied to the future cash flows. That's like giving complete control to a monopoly.
If you take the annual payments and shop that same trade with major banks you bring competition into play and get a better rate, which translates into a bigger pile of cash. Think JG Wentworth late night ads only with the structured finance arm of a highly rated bank.
Granted, if you're the SOB who just won that extra may not mean much, but the smart play is shop that trade in the market.
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