Many scratch-offs advertise $1 million or more but pay it over 20 to 30 years
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A $2,000,000 top prize on a Virginia scratch-off is worth $952,000 if you want to winnings immediately. A $1,000,000 prize in Ohio is $40,000 a year for 25 years. The number on the front of the ticket and the check you get are often different things, and the difference is written into the prize rules of many active US games. Figures are from our database as of September 2, 2026, and cover US lotteries only.
There are 550 scratch-offs on sale with a top prize of $1 million or more. For many of them, the lottery publishes the prize as an annuity, a fixed payment each year for a set term, usually with a cash alternative that is smaller.
| State | Annuity games | Typical structure | Cash option |
|---|---|---|---|
| New York | 35 | $1M paid as $50,000 a year for 20 years | Not listed |
| Ohio | 18 | $1M paid as $40,000 a year for 25 years | Not listed |
| Virginia | 16 | $1M paid as $33,333 a year for 30 years | $476,000 to $500,000 |
| Illinois | 10 | $1M paid as $50,000 a year for 20 years | $600,000 |
| New Hampshire | 5 | $1M annuity | $700,000 |
| Florida | 3 | Weekly for life, e.g. $10,000 a week | $7,752,000 |
| Rhode Island | 3 | $1M annuity | $700,000 to $750,000 |
What the biggest advertised prizes really are
Ohio's $50 50th Anniversary ticket advertises $15,000,000. According to the Ohio Lottery, that is $600,000 a year for 25 years. New York's $20 $10,000 A WEEK FOR LIFE pays exactly that, with a $10,000,000 guaranteed minimum. Illinois's $50 $10,000,000 Bankroll is $500,000 a year for 20 years or $6 million cash.
Virginia publishes the cash figure for every one of its 16 annuity games, and its ratios are the lowest we found. 500X THE MONEY advertises $7,000,000 and offers $4,000,000 cash, 57%. SET FOR LIFE advertises $6,000,000 with $3,114,000 cash, 52%. Platinum 7s, launched this week, advertises $2,000,000 and offers $952,000, 48%. Its $1 million games offer $476,000 to $500,000.
Florida takes the opposite approach and lists the cash option as the headline value in its prize tables. Its $10,000 A Week For Life game shows $7,752,000 cash, and that is the figure we record as the top prize.
The $1 million games
Most of them are $1,000,000 games, and this is where the label matters most because the payout is the smallest. Ohio has nine of them, all paid as $40,000 a year for 25 years, including Millionaire Blowout, a $50 game that still has 55 of its top prizes out. New York's $5 and $10 million-dollar games, including WIN FOR LIFE at $2, pay $50,000 a year for 20 years or $1,000 a week for life.
In Illinois, Millionaire Club's $1,000,000 is $50,000 a year for 20 years or $600,000 cash. New Hampshire's Millionaire 7 offers $700,000 cash, and Rhode Island's LOTERIA GRANDE offers $750,000. California's $2 Set for Life is $4,000 a month for 25 years.
Tax works differently on each path. A lump sum is taxed in the year you take it, at the top federal bracket for a prize that size. Annuity payments are taxed as each one arrives, so a $40,000-a-year prize is taxed as $40,000 of income each year. The tradeoffs are laid out in lump sum versus annuity, and the case for taking the annuity is stronger than most players assume.
If a scratch-off top prize is $1 million or more, the prize is most likely an annuity and the amount you receive if you want it now will be likely less as a cash option.
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Frequently Asked Questions
Is a $1 million scratch-off prize paid all at once?
Not always. Of 550 active US scratch-offs with a top prize of $1 million or more, 93 are listed by their lotteries as annuities, paid in yearly installments over 20 to 30 years, usually with a smaller cash option. In New York a $1,000,000 scratch-off prize is $50,000 a year for 20 years. In Ohio it is $40,000 a year for 25 years.
How much cash do you get from an annuity scratch-off prize?
It depends on the state. Virginia’s cash options run from 48% to 57% of the advertised figure, so its $2,000,000 Platinum 7s prize is $952,000 in cash. Illinois pays 60%, so its $1,000,000 Millionaire Club prize is $600,000 cash. New Hampshire pays 70% and Rhode Island 70% to 75%.
Which states sell the most annuity scratch-offs?
New York, with 35 active games where a top prize of $1 million or more is paid as an annuity, followed by Ohio with 18, Virginia with 16, and Illinois with 10. New Hampshire has five, Florida and Rhode Island three each, California two, and New Jersey one.
Jessie Jurado is a news writer who covers new scratch-off launches, state lottery guides, taxes on winnings, news, and much more. She joined ScratchCheck in 2026 and writes the site's state-by-state coverage.
