New York State Lottery and Gaming Control Agency Director Gordon Medenica recently announced the agency may join Cash 4 Life or Lucky for Life multi-state consortium games that pay winners a top prize of ,000 per day for life. “This really is for life,” Medenica said, noting the prizes of these games are not limited like the instant lottery game in which “for life” season tickets for the Baltimore Ravens end at 20 years. Medenica said he hopes whichever game will be selected will be available to play by next year.
Medenica noted either of the two games under consideration could help the lottery grow, even though the lottery recently topped more than $1 billion in revenue from sales and casino gaming. Those funds go to the state budget.
Last year, a 51-year old retired police officer became the first in New York to win the top price of $227,410 per year after taxes. If she reaches the average life expectancy for a woman in the United States, her total prize would reach close to $8 million.
