Lotteries
Daily Grand Lump Sum or Annuity for Life?
The calculator below compares the $7,000,000 lump sum with $1,000 a day for life. It shows the prize's value today at an interest rate you choose and the years of payments that equal the lump sum.
Without interest, the payments add up to $7,000,000 after about 19.2 years. The rules guarantee payments for at least 20 years.
- payments added up
- lump sum $7,000,000
Years after the prize
If several tickets share the prize, the rules give the lump sum. The annuity is grossed up for tax so that the net is close to the advertised amount, and WCLC notes the annuity option has tax implications.
Source: olg.ca: daily grand (2026-10-29) · wclc.com (2026-10-29)
How it is calculated
Without interest: years = lump sum ÷ payments per year.
Payments per year$365,000
Years19.18
Value today of n payments P at a rate i per period: P × (1 − (1 + i)−n) ÷ i, times (1 + i) when paid at the start of each period. The rate per period comes from the yearly rate: (1 + rate)1/m − 1.
The two choices
Prize for life
$1,000 a day for lifeAn annuity, issued for a minimum period of 20 years under the Daily Grand game conditions.
Lump sum
$7,000,000One cash payment. If there is more than one winning selection, this amount is shared among the winners.
Years to match the lump sum
Years = lump sum ÷ one year of payments (daily payment × days in a year)
Example: $7,000,000 ÷ one year of payments from $1,000 a day for life = 19.2 years, without interest.
Value today at your own rate
Value today = each payment ÷ (one plus the rate) raised to the years until it is paid, all added up
Example: For example, at 4% over 20 years: $7,300,000 paid in total is worth $5,058,758 today.
The example in one table
| Measure | Value |
|---|---|
| Lump sum, paid at once | $7,000,000 |
| Prize for life, 20 years, total paid | $7,300,000 |
| Same payments, value today at 4% | $5,058,758 |
| Years to equal the lump sum, no interest | 19.2 |
| Years to equal the lump sum, at 4% | 35.6 |
The rate 4% is only an example input. Enter your own rate in the calculator above.
When the lump sum is forced
| Situation | What is paid |
|---|---|
| More than one winning selection | Lump sum, shared among the winners |
| Ticket shared by a group | Lump sum |
| Winner has not reached the age of majority | Annuity may be replaced by a lump sum |
| Winner lives outside Canada | Lump sum |
| The law prohibits an annuity | Lump sum |
| Winner makes no choice | Lump sum (the default) |
From the Daily Grand game conditions and ILC rules. The annuity is issued for a minimum period of 20 years.
Sources
- Loto-Québec – Rules and Regulations Respecting Lotteries and Lottery Tickets · checked Oct 29, 2026
- OLG – Daily Grand Game Conditions · checked Oct 29, 2026
- OLG – Conditions de jeu du Grande Vie · checked Oct 29, 2026
Questions
Should I take the Daily Grand lump sum?
This page cannot answer that and is not financial advice. The calculator above shows the value today of the prize for life at a rate you choose, next to the $7,000,000 lump sum. A qualified professional can help.
How many years until the for-life prize equals the lump sum?
Without interest, the prize of $1,000 a day for life reaches $7,000,000 in total after 19.2 years. Counting value today at 4%, for example, it takes 35.6 years.
Can a group take the Daily Grand annuity?
No. Under the game conditions, a shared ticket is paid as a lump sum. The lottery pool calculator splits a prize into shares to the cent.
What happens if the winner does not choose between the two?
The Daily Grand game conditions make the lump sum the default when the winner makes no choice.