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A lottery winner has some big decisions to make regarding what to do with the winnings. Buy a villa in Saint Barthélemy? A luxury convertible? A cruise around the world? The likelihood of winning the lottery is slim, but we all love to fantasize about what we could buy with the winnings. One of the first things a lottery winner has to decide is whether to take the winnings in the form of a lump sum or as a series of regular payments, called an annuity, over the next $$30$$ years or so.