Why do people choose the lump sum payment over the annuity payments?

[Julio88]

The primary reason why most people choose the lump sum over annuity payments in lottery is because they are able to access the entire amount of money right away. This allows them to invest the money and potentially make more money with it, rather than waiting for smaller payments over a period of time. Additionally, many people prefer the lump sum option because they have the flexibility to spend the money on whatever they want, when they want.

 

[James108]

For one, the lump sum payment allows for more immediate access to the money. The annuity payments are usually spread out over a number of years, so the winner would have to wait to receive the full amount.

 

[Qwert135]

that is because you can do a lot of things with an big amount rather with an short amount , if you have 10% cutting in lump sum that is ok you should take the big deals always in an instant indeed actually