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A new lottery game has debuted in the great state of Mississippi. It's called "Millions for Life".
It kicked off Sunday (February 22) and focuses on a a life-changing annuity payout, as opposed to the typical one-time jackpot.
The lottery association explains there are nine payout tiers but the most rewarding is the first two tiers which pay out either $1,000,000 annually or $100,000 annually.
The ticket price is $5 per play with drawings held daily during the evening hours.
Individuals are asked to select five numbers from 1 to 58 and a One Million Ball that ranges from just 1 to 5.
The grand prize is $1 million per year for life (annuity) or a cash lump sum payment or approximately $18 million.
There is also a second place prize that amounts to $100,000 per year for life, or a cash lump sump option of approximately $2.2 million.
Millionaire for Life is offered in Mississippi and many other participating U.S. lotteries across roughly 30 states and jurisdictions.
Overall odds of winning any prize: about 1 in 8.46 and the odds of hitting the grand prize: about 1 in 22.9 million, which may sound scary but these odds are actually better than Powerball or Mega Millions.
- Aaron Goldstein, Gambling911.com
