The New York Lottery’s Yolanda Vega today presented a total of $6,000,000 in jackpot prizes to a pair of recent scratch-off game winners from Schenectady and Troy.

The occasion marked the first time the Lottery awarded a jackpot prize to a scratch-off game jackpot winner based on the winner’s preference for receiving the prize as a lump sum or annuity.  Going forward, all annuity jackpot winners on a Lottery scratch-off game will have 60 days from the date they claim their prize to choose to receive their prize in one lump sum payment or spread out over 20 annual payments.  

Schenectady Set For Life winner mulling over options for his guaranteed $5,000,000 prize

James Marx of Schenectady claimed his top prize on the Set for Life scratch-off game on April 25 at the Lottery’s Customer Service Center near his home in Schenectady. Marx, a project foreman at Precision Glass in Scotia, explained that he goes into the Stewart’s Shop at 50 Freeman’s Bridge Rd. in Scotia every morning before work to buy a coffee, a hard roll and a few scratch-offs. The Scotia Stewart’s shop was also the location where Marx, who will turn 49 next week, realized he had forgotten his work keys on the morning of April 24.

“I won $100 on a couple of tickets I bought while I was waiting for a co-worker to drop off a set of keys,” laughed Marx. “I put $70 in my pocket and bought a few more tickets, including my Set For Life ticket, with the remaining $30.”

Marx said he wasn’t one of those winners who started jumping for joy immediately after scratching. “I kept saying, ‘This is not right. Something’s wrong,’” he recalled. Marx said what happened next was kind of a blur. “I called my wife, visited a friend and headed to work” with his borrowed keys.  “I told everyone at work as soon as I got there.”

Marx is now considering how he wants to receive his Set For Life jackpot prize. His options include receiving 20 annual payments totaling $5,000,000 and an annual check of $260,000 (net $172,068) every year thereafter for the rest of his life, or taking a one-time lump sum payment totaling $4,222,946 (net 2,794,754) which equals the cash value of the guaranteed minimum prize of $5,000,000.

Marx said either way, the windfall will mean a lot to his family which has made its share of sacrifices to help put five children through college.

“I plan to take care of debt, then the kids, and then my parents,” he said. When asked if he planned to splurge on any luxury items Marx said he and his wife had scheduled a trip to Las Vegas before his $5,000,000 win and they plan to follow through with one possible change. “We might go first class this time,” he said.

Troy 20X The Cash Winner Capitalizes on New Jackpot Payment Option, Takes Lump Sum Over Annuity Prize

The choice was clear for Troy’s newest Lottery millionaire, Robert Daniels, when asked how he wanted to receive his $1,000,000 top prize on the 20X the Cash scratch-off game. “I’ll take the cash now,” said the 68-year-old retired Honeywell machine operator. “I want to enjoy it now.”

Daniels bought his jackpot winning 20X the Cash ticket on April 16 at the LB Grocery at 1 Northern Dr. in Troy and claimed it just hours later at the Lottery’s Customer Service Center in Schenectady.

Daniels said the day he became a Lottery millionaire started out like any other. “I went to the store for tickets and brought them home to scratch while I drank my coffee,” he said. “I showed my ticket to my wife, but she didn’t believe me so I went back to the store and they verified it,” he continued. Daniels said he then got in the car and headed to Schenectady to claim his million.

Because he opted to receive his $1,000,000 jackpot prize in one lump sum instead of 20 annual payments totaling $1,000,000 as the ticket was designed to pay out, Daniels will receive a one-time payment totaling $840,000 (net $555,912.)

The father of five and grandfather of five said he plans to use his windfall to help family. He also plans to set some aside to fulfill his passion for traveling. “I don’t fly so we’ll have to take a few short trips.”

About the New York Lottery

The New York Lottery continues to be North America’s largest and most profitable Lottery, contributing nearly $2.9 billion in fiscal year 2011-2012 to help support education in New York State.  The Lottery’s contribution represents nearly 15 percent of total state education aid to local school districts. 

New York Lottery revenue is distributed to local school districts by the same statutory formula used to distribute other state aid to education.  It takes into account both a school district’s size and its income level; larger, lower-income school districts receive proportionately larger shares of Lottery school funding.

About the New York State Gaming Commission

The New York State Gaming Commission regulates all aspects of gaming and gambling activity in the state, including horse racing and pari-mutuel wagering, class III Indian gaming, video lottery terminal facilities at race tracks, the state lottery and charitable gaming.