Home > Terms > English, UK (UE) > Annuity

Annuity

It is like a mortgage. Lotteries sometimes use annuities to create higher jackpots than they have the cash for. An annuity backed jackpot winner collects the money in instalments over several years, typically over 20 or 25 years.

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  • Part of Speech: noun
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  • Industry/Domain: Games
  • Category: Bingo
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