What Actually Happens When You Win The Lottery?

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Mark and Cindy Hill hold a Powerball check

Source: huffingtonpost.com

Okay. You have just won the lottery. Chances are you’re probably in shock. So what do you do now?

Instead of storming out of wherever you have just checked the numbers and heading to the nearest Ferrari garage, there are a number of things that you need to do before you get your hands on the money.

What Are The First Steps?

Ferrari Garage/Exhibition

Source: dailymail.co.uk

The following steps are taken from the UK’s national lottery but the steps are generally the same in different countries. The first thing you will do is ring up to inform the lottery provider that you have won. The advisor will then confirm the numbers with you and tell you if anybody else has won the jackpot as well.

An advisor will then call round the next day and talk through things with you, and further validate your ticket. After this, you get asked if you want to keep it private or go public with your win. If you go public, the UK national lottery supplies you with a press officer to help you deal with the press and all of the added media attention.

What Do I Do With My Money?

Coutts bank who advise lottery winners

Source: guardian.com

If you win more than 500k (which we hope you do!) then you are advised to set up a private bank account where the winnings will be paid into. After the money is paid, the lottery have plenty of advisors to help you in the following weeks.

For more about financial considerations, read our post Where Do Lottery Winners Put Their Money?

One of the national lottery advisors said that he likes to tell people to go on holiday to let it all sink in before doing anything hastily, which we think is a good idea. We also think that jetting off to a lovely holiday resort and drinking mojito’s on the beach is also a brilliant way to celebrate.

What sort of support is on offer after you win the lottery?

Andy Carter, the lottery advisor

Source: walesonline.co.uk

Well as mentioned before, if you decide to go public then there is a PR team in place that will help you deal with all of the media enquiries. The majority of people who go public after winning the jackpot receive a vast amount of letters asking for slices of their newfound fortunes, and the lottery team helps them deal with the letters.

The ‘winning advisors’ also help out with any tax issues on interest payments, help with putting you in touch with investors and just general support you. Camelot have said in the past that winning advisors have been known to be in touch with winners years after they have won, just to continue to help them out.

Looking to play the lottery today, take a look at the latest jackpots and draw times on the Lottosend homepage.


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