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How Do Annuity Lotteries Work?

The thing that sets annuity lotteries apart from other games is the way the top prizes are paid out. When you win a traditional lottery like Lotto or EuroMillions, you get paid the entire jackpot amount in one lump sum.

When you win the top prize in an annuity lottery, such as Set For Life, that’s not the case; instead you get paid in regular instalments over a number of years, hence the term 'annuity lottery'.

There are two annuity prizes in Set For Life.

The top prize pays out £10,000 a month for 30 years and the second prize pays £10,000 a month for one year.

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Those prize totals equal £3.6 million and £120,000 respectively, but there are only very limited circumstances in which you can take them as lump sum payouts – see the Set For Life Prizes page for more information.

The game is otherwise played in a similar way to the National Lottery’s other games.

You pick some numbers and must try and match them with the winning numbers in the draw you enter. Match them all and you will win that top prize and receive £10,000 eve

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