Playing Online Lottery – What If You Win?
People nowadays have managed to restore the glory of lotto games, mainly because of the extravagant jackpots which offer a chance to become an instant millionaire. Whether you’ve been playing lottery online or simply buying a quick-pick ticket from the local store, the odds are rarely in your favor when it comes to such main prizes. And yet, some people did manage to get lucky and cash out some of the biggest jackpots in the history of these games.
What to Do After the Lucky Draw?
Most people find themselves bewildered by the influx of such great wealth in their lives. Just to be sure, the best thing to do after the draw is to check the winning numbers and those on your ticket. As soon as you realize you’re not dreaming, you need to make some serious plans if you want to use your prize as much as possible.
In today’s society, most people are advised to try and retain their anonymity as the lottery is announcing the winners. Therefore, after determining you have won, you need to go over your state’s legislation on this matter or simply set up a trust and use its name as the only contact of the jackpot recipient. Shutting down all social media portals is another useful thing to do.
Once you’ve got your matters in order, the best thing to do is get help. Very often, people who play the lottery aren’t as highly educated as others. That is why those winners that found certain financial and legal advisors remain wealthy much longer than those that simply decide to go on a spree.
Professional Help
Getting some help from professionals even before cashing out the actual ticket is a standard procedure. For one, these people are bound to help you make the right choice regarding the funds withdrawal based on your preferences. US lotteries normally allow their jackpot winners to choose between cashing out the total winnings and receiving them as increments during the course of 29 years. The second option includes a 5% increase annually due to the predicted increase in living costs.
The team of professionals is best made up of a lawyer, an accountant and a financial investment specialist. Using the lawyer as the bad guy who pushes away all kinds of proposals, lottery winners are able to focus on the investments which might pay off in the future. Until then, the best advice is to continue your daily life just as before.
Lottery Winners & Their Stories
Almost all lottery winners tend to have a story behind their purchase and, more importantly, a story after the winning. Some players reject financial responsibilities and simply enjoy themselves, but this only lasts until the last dime. There have been many failure stories related to lottery winners.
Nonetheless, more clever winners accept the general advices and end up with profitable businesses and real estate investments, while some have even managed to fund entire charity causes!