Players in 31 states will soon be able to win the top prize of one million dollars, every year, for life. The new 'Millionaire For Life' game launches Sunday, February 22 - offering two major for-life prizes, as well as seven additional one-off prizes. BonusFinder, an online casino comparison site, explains all.
A ticket costs $5 each and will replace the existing 'Lucky for Life' multi-state lottery game.
The Lucky for Life lottery has been running for 14 years. It offers a top prize of $1,000 a day for life and costs $2 per ticket. A second prize of $25,000 a year for life is also available.
'Millionaire for Life' prizes
The new game will offer an upgrade on those top prizes. Players who match five numbers and one millionaire number will receive $1m a year.
Meanwhile, players who match five numbers but don't land the millionaire ball will receive $100,000 a year for life.
The annuity prizes are guaranteed for 20 years, and winners have the option to take lump sums of $18m or $2.2m, respectively.
Seven additional prize levels are also available:
- 4 numbers + 1 millionaire number - $7,500
- 4 numbers - $500
- 3 numbers + 1 millionaire number - $250
- 3 numbers - $50
- 2 numbers + 1 millionaire number - $25
- 2 numbers - $8
- 1 number + 1 millionaire number - $8
New lottery game details
Entry for the new Millionaire for Life draws will take place daily, with the first draw set for Sunday, February 22, across 31 states: Arkansas, Colorado, Connecticut, District of Columbia, Georgia, Idaho, Iowa, Indiana, Kansas, Kentucky, Massachusetts, Maine, Michigan, Mississippi, Montana, North Carolina, North Dakota, Nebraska, New Hampshire, New Jersey, New York, Ohio, Oklahoma, Pennsylvania, Rhode Island, South Dakota, Tennessee, Virginia, Vermont, West Virginia and Wyoming.
How the 'Millionaire for Life' lottery will work
Entry method varies by state, but tickets may be purchased from state lottery apps and online, where this option is available under current lottery laws.
To enter the draw, players choose five numbers from one to 58 and one millionaire number between one and five.
The new game is run by the Multi-State Lottery Association. The non-profit organization represents 34 member lotteries, most notably the Powerball game.
And with that, the largest Powerball jackpot ever paid out was $2.04bn, won by a single ticket holder from California in 2022.
Lottery players are increasingly leaning towards annuity prizes rather than one-off jackpots. These jackpots still carry substantial total prizes, but their staggered release enables winners to plan ahead, giving a guaranteed income and potentially protecting them from overspending.
Tom Seaver, Millionaire for Life Product Group Chair, said in a statement: "Millionaire for Life offers top-notch 'for-life' prizes that players, especially younger players, have been drawn to. Think about winning $1m every year for the rest of your life. This game is made to do what it says it will do."
