Classic Lotto Game Annuity Contract
Each player of the Classic Lotto game must choose six (6) different numbers from a field of forty-four (44). At the end of the sales period, the Lottery will conduct a public drawing and will select six (6) winning numbers. All ticket purchases will have been recorded by and stored on the on-line computer system. Once the winning numbers are entered into the computer system, the availability and value of any winning Grand or Jackpot tickets are immediately determined. If the Grand or Jackpot prize is not won, the amount of the Grand or Jackpot Prize Pool rolls over to the next Classic Lotto drawing or sales period and is added to that drawings Grand or Jackpot Prize Pool. This procedure is repeated until the prize is won. If there is more than one (1) winner in any drawing, the Grand or Jackpot Prize Pool will be split equally among the winners. If a winning ticket has been sold and is not claimed, the available Grand or Jackpot Prize Pool is treated as won and the money is transferred to the Prizes Payable Account for one hundred eighty (180) days. During this period if the prize is presented for payment AND if the winner has selected ANNUITY as their payout option (rather than the Lump Sum Payout Option), the appropriate prize amount is removed from the Prizes Payable Account and converted to an annuity with the Contract holder. Monies from the Grand Prize or Jackpot Prize Pool is transferred to the Contractor awarded the contract in connection with this ITB, after the winner has signed a Prize Payout Selection and Registration form authorizing his official payout choice.
