Sums of money paid out, especially as winnings, dividends, or settlements. These can include insurance claims, lottery prizes, or investment returns.
Compound word formed from 'pay' (from Old French paier, ultimately from Latin pacare 'to pacify') and 'out' (Old English ut). The term emerged in the early 20th century with the rise of insurance and investment industries.
The largest single lottery payout in history was $1.586 billion in the Powerball drawing of January 2016, split among three winning tickets. Interestingly, most lottery winners choose the immediate lump sum payout despite it being significantly less than the advertised annuity amount.
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