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Tips on Selling Your Annuity or Structured Settlment

You Won Big in the Casino. Here’s Why You Might Be Getting Paid in Installments

jackpot

When you enter a casino floor and put your money into the first slot machine, is there a part of you that starts thinking about what you’ll do if you win the big jackpot? Casinos thrive on this wishful thinking, but the truth is that jackpot wins happen, and some people do get rich playing the slots, winning a sports bet, or gambling at the tables.

However, some people who win big at the casino will discover that they can’t just take their winnings home all at once. In general, if you win less than $25,000, you will likely be able to choose to receive cash or a check of the entire sum all at once. But if you win more than that, things get a little more complicated.

In many cases, it will depend on the type of game played and where the casino is located. For example, if you want to play the slots and are interested in knowing what kind of a payment you’ll receive, just look at the front face of the slot machine. If you look hard enough, you will see that the slot will be identified as either one that pays out in an annuity or one that offers immediate full payment.

You Are Entitled to Annuity Payments for Your Winnings. Now What?

Let’s say you win it big, and you will now receive annuity payments from the casino over the course of ten years. In some instances, this might be a good thing. If you are young, have few expenses, or don’t want all that money all at once, annuity payments will provide the stability you need to enjoy your winnings over a long period of time.

But, let’s say you are older, have significant debts, or want to take advantage of new opportunities in your life. In these cases, it might make more sense to sell a portion or your entire annuity for an immediate lump sum of cash. If this describes your current situation, you may want to consider selling your annuity payments to a buyer who will offer you the highest number in the market and won’t attempt to deceive or lowball you.

At Sell Any Annuity, we guarantee nobody will pay you more for your annuity payments than our recommended partners. To learn how much you could get paid, please contact us today at 855-993-0431.

Topics: Annuity structured settlement