A teenage girl from Quebec secures her future with a CAD 1,000-a-week fortune she won after buying a lottery ticket for the first time.
Charlie Lagarde was celebrating her 18th birthday on March 14, when she decided to buy a bottle of wine and CAD 4 scratch lottery ticket. Little did she know that her little birthday present for herself would guarantee her a lifetime of wealth.
Lagarde has won CAD 1 million or USD 773,800 in Loto-Québec's Gagnant à vie game. Lotto officials said Lagarde had to choose if she wanted to claim the lump sum or would instead receive a CAD 1,000 a week for life.
Reports said that Lagarde consulted a financial advisor and decided to go for the lifetime annuity. Lotto officials said the winner will take home as much as CAD 100,000 of annual earnings before taxes.
In a statement, Lagarde said she will use the money to fund her education as well as pursue traveling.
"She was a real breath of fresh air when she came to our office to claim her prize, with friends and family. All of us at Loto-Quebec are really happy for her," the lotto officials spoke of Lagarde. It was reported Lagarde's family was ecstatic upon learning their daughter's winning streak.
Patrice Lavoie, spokesperson for Loto-Québec, said the prize will allow Lagarde to have a "great start in life."
Winner For Life
Winners of Loto-Québec's Winner for Life game can get CAD 4 to CAD 1 million. Chances of winning are 1 in 6 million with an overall payoff rate of 84.97 percent. The game was first launched on June 12, 2017.
According to the lottery's website, anyone who wants to play the game should be a legal resident of Québec aged 18 years above. Winners will receive a tax-exempted CAD 1,000 weekly until their death. Payouts will be distributed by an authorized third-party insurance company.
However, the annuity can only last for a period of 40 years. If the winner happens to die 20 years after the start of the annuity, his or her legal heirs will receive the same amount of money for another 20 years.
If the recipient is at least 71 years old at the time of winning, payments of the annuity will be shorter. He will then have to designate his legal heirs, who will consequently receive the remaining amount of the prize by the time of his death until his supposed 91st birthday.