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How to avoid your worst nightmare after winning a huge jackpot like US Powerball

Do you ever dream of winning a huge lottery like what the US Powerball can jackpot to? Can you imagine the life-changing implications it would have for you and those close to you!

Most people have already planned how they’ll spend their millions before they even win it, but it’s not always smooth sailing.  For some people winning lottery turns into their worst nightmare, and sadly some winners end up losing it all, or worse still; end up with less than they had in the beginning.

So how do you avoid your worst nightmare and make the most out of your lottery win?  Who better to ask than the winners themselves. Here’s what they have to say.

Remain anonymous

Woman keeping a scret after winning US Powerball

Most big winners agree that it’s best to stay anonymous after a big lottery win.

Winning lottery can attract unwanted attention from the media as well as those long lost relatives who heard that you’ve come into money. By all means tell your closest circle of family and friends, but many winners say that it’s best to remain anonymous so you don’t have the stress of every man and his dog beating down your door to get a piece of your winnings.

Take your time and make a plan

Woman considering how to spend her US powerball winning.

After winning lottery your first impulse will be to claim it as soon as possible, however some past winners reveal that they didn’t claim their winnings right away.

After winning international lottery some say it’s best to wait a while. Winning a lottery jackpot like US Powerball can be both stressful and exciting, emotions are at a high and it’s probably not the best time to make any major financial decisions.

The time limits to make your claim vary for each lottery, but taking your time will allow you to put more thought into where you will spend the money, what charities you would like to support and plan for the future.

Have Fun

Celebrate lottery winnings with friends on a private cruise!

You’ve just won a lottery jackpot so it’s time to start making some important financial decisions that will affect the rest of your life. But shouldn’t you have a little fun first?  

Past winners recommend giving yourself time to celebrate your win. Allocate some spending money, let your hair down and have some fun, then stash away the money for another 6 months until you know what you want to do with your winnings.  

Consult a professional

Financial advisor consulting lottery winners

Not everyone has experience investing or in the property market, so when we come into a large sum of money we don’t always have the skills or knowledge to make the right decisions.

Past lottery winners recommend seeking advice from a financial advisor, accountant or even hiring a lawyer to manage any legal issues that may arise. It’s always good to get a second opinion especially when investing or buying property.  

So what are you waiting for? Buy a ticket today and move one step closer to winning that US Powerball jackpot you’ve dreamt of. For each Lottery Office ticket you buy, we buy a matching ticket in an international draw, so we can guarantee your winnings.  Maybe you’ll be the next extraordinary statistic!

 

FAQ

What happens when you win the lottery?

If you win a prize over $10,000 with The Lottery Office, we will contact you and discuss how you'd like to be paid. You can remain completely anonymous and all winnings are free from Australian taxes. If you are a jackpot winner, we can offer access to financial advice to help make sure you get the most value out of your winnings.

How do you stay safe after winning the lottery?

Keeping your anonymity as much as possible is highly advised. Lottery Office winners are not required to reveal their identities.

Why do lottery winners go public?

In some jurisdictions lottery winners are required to reveal their identities in order to claim their winnings. Although this may be considered to be in the public interest, it often has significant repercussions for the lottery winner. This is not an issue for The Lottery Office winners, who can stay anonymous and avoid all the attention that can come with a lottery win.