Maximum cash out would be $2.5 million minus 33%. Maybe $1.7 million cash.
A twenty-five year annuity would be upper middle class for the first few years - maybe $150,000 per year after tax.
Unfortunately, you never know what inflation is going to do over twenty-five years.
The woman looks attractive.
The man needs to drop a few pounds.
No Canadian lotteries are different to US ones. The prize stated is what you get up front. The prizes are also tax free. So the woman got $5 million. That said the largest prizes are generally much smaller than US lotteries. The maximum right now are about $80 million.
Canadian lotteries are a tax-free lump sum payout. A twenty million dollar pot is paid out with a cheque for twenty million.
The only lotteries that DON’T pay their stated prize in full immediately are south of the 49th parallel...