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Lottery Case Study

Lottery Case Study

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Published by Swapnil Kulkarni

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Published by: Swapnil Kulkarni on Sep 18, 2012
Copyright:Attribution Non-commercial


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Financial Management
Sankar  Akshay GoyalJitesh AgarwalSrikanth Erraballi
Lottery Winnings
Looks Can Be Deceptive!
Case Description
State Sponsored Lotteries
 Annual Sales: $1.69 bn
Net Revenues: $618.5
Retailer Commission: $120.3 mn
Lottery Prizes: $ 920.8 mn
The Big Game
7 States
Georgia, Illinois, Maryland, Massacheusetts, Michigan,New Jersey & Virginia
JackPot: $5 mn -- $ 363 mn
Winning Amount: Annuitized Amount of $181.5 mn
The Michigan Lottery
Two Ways
Annuity & Lump Sum
Income Tax: 27%
State Tax: 4.6%{ Amount> $5,000}
Option 1: Annuity Payments
 A total of $181.5 mn is paid over a period of 25 years through25 equal installments.
Option 2: Cash Payment
60% of the total jackpot amount

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