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Thursday, January 7, 2016

Auction To Turn Top Bidder Into Lottery Winner

070116 US Michigan Auction To Turn Top Bidder Into A Lottery Winner
Donald Magett in 1984 won a "Cash for Life" game, guaranteeing him $1000 a month before taxes until his death.
Bankruptcy trustee Tom Richardson has been receiving that money to pay Magett's debts. 
But now Richardson has received a judge's approval to put the prize up for auction online which ends at 8.30pm on Thursday local time (1.30am Friday GMT). 
But the opening bid is $30,000, which means Magett, 73, would need to live a few more years for the winner to break even.
Richardson says the winner is definitely taking a gamble. 

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