Why Did This 67-Year-Old Florida Lotto Winner Throw Away $2 Million Of His Prize Without A Second Thought?

James Bozeman did two things most of us would think absolutely crazy. First, he won two Florida lottery jackpots a year apart...$10 million in 2012, and $3 million last year. The odds against claiming two major prizes in a year are huge. 

Staff at the lucky 7-Eleven store pose with the check that some lottery outlets receive for selling major prizes. 

The retired pensioner bought both winning tickets from the same 7-Eleven in Edgewood, Orange County in Florida...population 2,624.

Then this lucky Orlando player did something no-one would have believed.

He took the last prize as an annual annuity instead of a lump sum. That means he'll get $100,000 a year for the next 30 years. And this winner is already 67-years-old.

Do the sums. Even with a generous life expectancy of another 10-15 years - though he stated he intends living to 100 - he has effectively thrown away two thirds of his prize money.

However the payments may be transferable to his heirs. The lottery commission may pass on the annuities intact to his estate, or sell the remaining balance at a fair market price and turn the balance over the estate.

Let's hope so.

Bozeman says he started using a different set of numbers on the last game, and is looking forward to picking a third lucky set for the next drawing. What will he do with that win, we wonder.

Here's the 7-Eleven outlet where Bozeman intends to win his third jackpot sometime soon!