[chaosagent]

Knowing New York, they may default on the payments in later years.
............................................

Don’t think this is a problem. The amount of the lump sum winnings is used to buy an annuity from a 3rd party company, which is what funds the annual payments.

[TheCipher]

I know the Powerball does that, but some state lotteries still are paid by the state. for example :

Illinois' lottery won't pay winners until the state agrees on a budget.

[TheCipher]

... Though for something that large, they may go to an annuity.