Exchange Your Lottery Payments

Winning the lottery can be an incredible event – however, the small payouts you receive over time do not always allow you to make the most out of your winnings.

Unexpected expenses or financial goals such as purchasing a new home, paying off debt, or paying for college tuition are all common reasons why people decide to exchange their lottery payments in exchange for a lump sum.

Through our exchange process, we can help you access the current value of your lottery, sweepstakes, or casino jackpot winnings. Having full access to your money can provide you with the flexibility and freedom that your lottery annuity never could.

Do you want to exchange a portion of your future payments? Do you want to instead get an advance on your next payment? No matter what your need is, our account executives are here every step of the way to help you get cash immediately.

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What is the difference between a lottery annuity and a lottery lump sum?

Winners of many state lotteries are given a choice when they collect their award to either receive an immediate lump sum or to receive an annuity that will provide payments at regular intervals in the future (often annually). Some state lotteries do not offer winners the choice of receiving an immediate lump sum.

People who choose to receive the immediate lump sum do not receive the entire published Lottery Prize. In Florida, for instance, if you select the cash (or lump sum) option, the amount you receive would be equal to the amount needed to purchase securities (or an annuity) that would fund the published Lottery Prize amount over the next thirty years. Florida’s lottery website confirms their analysis estimates the Gross Cash Payment (before withholding for federal taxes) would be 50% of the published Lottery Prize amount.

Lottery Annuity

Lottery Annuities provide annual payments to the winner. This is normally a 29-year payment plan, consisting of 30 payments. Rising Capital can help you exchange these annual lottery payments for a present lump sum of cash.

Lottery Lump Sum

The lump sum or cash payment option means that the winner receives their entire prize in a one-time cash payment, after federal and state tax withholding, usually in the amount it would take to purchase securities or an annuity that would fund the published Lottery Prize amount over the next thirty years.

Why Should I Exchange My Lottery Prize?

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How To Exchange Your Lottery Payments

The Rising Capital team has decades of experience helping lottery winners exchange their lottery payments for a lump sum of cash. Through our experience and in-depth knowledge of the industry, we’ve developed a streamlined process to exchange your lottery winnings that ensures you always get the most for your payments.

1. Call Rising Capital

When you call Rising Capital, you’ll be connected to your dedicated account executive who can explain the court order process and provide you with real options.

2. Get A Free Evaluation

After discussing your situation and goals, your account executive will put together a custom valuation for you with options to meet your needs.

3. Accept Your Valuation

Once you’ve received your valuation and have decided to accept it, you will receive a contract that provides details about your transfer.

4. Rising Capital Covers Fees

Rising Capital has no hidden fees and covers all costs associated with your transaction from beginning to end.

The Process

If you own your annuity, we will work with your policy’s issuer to complete the change of ownership, payee, and beneficiary elections needed to complete your sale.

6. Get Paid

Once the policy’s issuer has confirmed the policy information has been updated, we will typically have funds to you within two business days.

Frequently Asked Questions

Have questions about exchanging your lottery payments for a lump sum of cash? View the answers to some of our most frequently asked questions below.

Can I exchange my lottery payments?

While most people can exchange their future lottery payments for a lump sum, certain rules apply. If your current payment schedule no longer fits your financial needs or you’d like to have full access to your money for a large purchase/investment, contact us to see if your lottery prize qualifies.

Do I have to exchange all of my lottery payments?

No!  The choice is yours. Exchange a small portion of your future lottery payments for a lump sum or exchange a larger portion of your future lottery payments for a larger lump sum.  Give Rising Capital a call and we can provide you with options so you can determine what’s best for you and your unique circumstances.

Why should I exchange my lottery prize winnings?

You might be surprised at all the reasons people would prefer to get a lump sum payment now in exchange for their future lottery prize payments.  Some of the most common reasons are to take advantage of a business or investment opportunity with potentially more lucrative yields, to pay off high-interest debts, to purchase a home or pay off a mortgage, to cover medical expenses, or to further educational goals.

How long does the process of exchanging lottery, sweepstakes, or casino jackpot winnings take?

To exchange your future lottery prize payments, we must file a petition in court and obtain court approval.  We generally fund all lottery winners within two business days of receiving the required court approval.

In what states can I exchange my lottery prize winnings?

We can purchase future lottery prize payments from most people who won their prize in CA, CO, CT, FL, GA, LA, IL, IN, MA, ME, MI, MO, MT, NH, NJ, NY, OH, OR, PA, RI, TX, VA, WA, WI, and WV.  If you won a different type of prize or won in a different state, call us at Rising Capital to see if there’s something we can do to get you a lump sum now.

Are there tax consequences to exchanging my lottery payments?

Yes.  Because lottery payments, unlike Structured Settlement payments, are taxable to the winner when they’re received, there will be tax consequences to selling your future lottery payments.  Since Rising Capital does not provide tax or accounting advice, we advise all lottery winners to obtain independent professional advice to help them make a well-informed decision.

How much will Rising Capital give me for my lottery payments?

The amount of the lump sum you’ll receive in exchange for your annuity payments depends on three main factors :

  1. The total amount of the payments you wish to exchange. (The total dollar amount you wish to exchange or the number of payments you wish to exchange.)
  2. When these payments are scheduled to be paid out. (This can be as soon as a month away or as far as years away.)
  3. The structure of the payout schedule.  (This depends on your schedule of lottery payments – whether your winnings are paid out on a monthly basis, an annual basis, or based on a different calendar frequency).

How do I get a valuation?

To obtain the true present value of your Lottery Prize payments, call Rising Capital at (866) 444-5061 to speak with an account executive or fill out our online form here.

Have additional questions?

Have additional questions related to the exchange of your lottery, sweepstakes or casino jackpot winnings?  Give us a call at (866) 444-5061 to speak to an account executive or fill out our online inquiry form here.

Ready To Get Your Valuation?

Rising Capital is here to help you access the present value of your future assets. We’ve helped thousands of people get access to the money they’re entitled to and we’re ready to help you, too.

Getting the present value of your future asset is the first step towards you taking control of your finances and your future.

Your Valuation Is Only A Few Steps Away…

  • 1. Fill out this form
  • 2. Connect with an account executive
  • 3. Verify your payments
  • 4. Get your valuation

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