Requiring the Director of the State Lottery Agency to give a prize winner the option to receive a lump-sum payment equalling the present cash value of a prize instead of an annuity when the prize for the winning ticket equals or exceeds $250,000; requiring the Director to determine the present cash value of a prize; requiring a player who wishes to receive a lump-sum payment to exercise the option to do so when purchasing the winning ticket; and prohibiting the revocation of an option to receive a lump-sum payment of a prize.