BOSTON - The Massachusetts State Lottery released another $50 scratch ticket on Tuesday. Lifetime Millions offers a grand prize of a "million a year for life."

There are three grand prizes up for grabs. The million-per-year amount is guaranteed for at least 20 years. If winners choose to take a one-time cash payout instead, they'll get a lump sum of $15,400,000 before taxes.

There are also four $2 million prizes and 12 $1 million prizes available. The Lottery says the chance of scoring any prize is just about 25%, and every winning ticket is worth at least $100. The overall prize payout for the game is 82%.

Second $50 scratch ticket to be sold in Massachusetts

The new game comes one year after the Lottery released its first $50 ticket - Billion Dollar Extravaganza. All three grand prizes of $25 million have been claimed in that game, but tickets are still being sold. Four prizes worth $2 million and five $1 million winners have not yet been claimed.

Billion Dollar Extravaganza set records upon its debut - in its first weeks on the market it regularly collected more than $30 million in sales. It marked the most expensive scratch ticket ever sold by the Lottery and offered the largest instant prize ever. 

The Lottery raked in $487 million in sales in December, up 5% from the year before, the State House News Service reports. The new $50 ticket can be bought at Lottery retailers across the state.