Lottery winnings refer to the money or prizes that individuals receive after winning a lottery game. Lotteries are games of chance where players purchase tickets for a chance to win cash or other rewards. The winnings can vary significantly, ranging from small amounts to life-changing jackpots, depending on the specific lottery and the number of tickets sold. When someone wins a lottery, they typically have the option to receive their prize as a lump sum or as an annuity paid over several years. Winners may also be subject to taxes, which can reduce the total amount they ultimately receive. Many winners choose to seek financial advice to manage their newfound wealth effectively.