Comments on: Playing the Lottery: Tips for Ten New Mega Millions Winners

By: RollWithIt!

RollWithIt! — Sat, 21 Mar 2009 21:51:50 +0000

One of the best ways to keep “PRIVATE” about your winnings and NOT have every long lost relative, friend or scam artist come out of the wood work is to set up a BLIND TRUST PRIOR to claiming your winnings. THIS also means YOU need to STAY QUIET as SOON as you WIN — I know this will be the hard part! Then take time to let the excitement of winning dissipate BEFORE you start purchasing “THINGS” You WILL have a much better chance of holding on to your money AND your friends and family if you take it slow and easy and DEFINITELY set up the BLIND TRUST! Have a plan BEFORE you WIN — and you will be better prepared to handle it! GOOD LUCK!!! :)

By: GeekMan

GeekMan — Fri, 06 Mar 2009 02:32:28 +0000

I look at winning the lottery as the same thing as any other windfall. The two best tips for anyone who finds themselves in possession of a large windfall are remain as anonymous as possible and have an ironclad plan for the money BEFORE you claim your winnings. That means, talk to an attorney and a financial planner before you accept your winnings and have a thought out and well defined plan for where every dime of that money will go as soon as you get the check. That way the money will immediately work FOR you instead of being thrown away.

By: Craig

Craig — Thu, 05 Mar 2009 20:24:22 +0000

When bored I always play the dream game in my head if I won the lottery. Sure you may upgrade your lifestyle a bit but you shouldn’t change as a person because of it. Set aside money for taxes, take a certain amount and go crazy, the rest stick in the bank and diversify on investments.

By: Flexo

Flexo — Thu, 05 Mar 2009 20:09:15 +0000

SJ: I’m still looking into this; some states may require you to speak to the media while others will allow you to remain anonymous. I’ll update the article if I can find any definitive information.

By: SJ

SJ — Thu, 05 Mar 2009 19:47:35 +0000

I did not know they required you to speak to the media; I totally would have gone the route of KC…

A while back when I was on my “lucky streak”, having won 2-3 raffles in a row (one of which was an ipod nano) my roomie joked that I should go buy lottery tickets… I told him if I won I didn’t think I’d tell anyone if I won; including my parents

As for your 20 dollars, I think it’s fine for you to ignore the expected negative returns and just treat it as being “social” “professional”, such as eating out w/ co-workers, being obliged to dress up, etc…

I think I’ve done some scratch and wins once after I turned 18 when my friend asked me to do it… (again ignoring gain/odds, treated as social gambling + milestone)

By: KC

KC — Thu, 05 Mar 2009 15:39:12 +0000

I’ve always said if I win big bucks in the lottery, which is nearly impossible since I rarely play, that I probably wouldn’t tell anyone. I’d tell my spouse, of course. But as far as close friends and family, I’d be very selective to the ones I know could keep a secret and who are mature enough to handle the relationship with their newly wealthy friend. I just wouldn’t want my life to change much, but the more people you tell the more it would change. If I did tell people I’d probably downplay it. Even if I won a few million I’d probably say I only won a quarter million or something of that nature.

I used to live in Memphis, TN, which is very near Tunica, Mississippi. You’d see big billboards with winners first names and last initial and the amount won plastered all over the city. Even if I only won $5k I wouldn’t want that information on a billboard.

I think it would be best to do the things you’ve recommended as well as keep quiet. If you don’t you’ll have “charities”, “religious leaders”, “friends”, and “family” coming out of the woodwork looking for you to share your prosperity. If I decide to help MY charities, church, friends, and family I’d rather do it on my own terms.

By: Rassah

Rassah — Thu, 05 Mar 2009 15:20:28 +0000

I believe a lot of the “poor” people out there are poor because they don’t know how to manage their finances. What’s to say they will be able to manage them any better if they do win a few mil?

By: Matt Sullivan

Matt Sullivan — Thu, 05 Mar 2009 14:44:13 +0000

How many headlines have we seen where “overnight” millionaires lives are ruined. I agree that the lottery is a tax on the poor. So many times I have seen the guy at the gas station buying dozens of scratch off tickets. He then rushes to his car and rubs off the tickets to see if he has won. Meanwhile, he has several kids in the back watching him. The better advice is to not play the lottery at all. You are right, your $20 is not a big deal, but it is a big deal to those kids who are watching their dad throw away their money.

Matt Sullivan

By: Grampa Ken

Grampa Ken — Thu, 05 Mar 2009 14:07:12 +0000

Gambling is a sick tax
Why do some governments actively promote gambling for a source of revenue when it is known to be so harmful to so many of its people? It is common knowledge that gambling can be addictive and destroy or take lives. When they report the income from gambling they should balance the books with the loss to players, their citizens.

Glossy commercials show how wonderful it will be when you win an enormous amount of money. “Play now and get super rich”.

As if to justify this they post warnings: “Know your limit. Play within it.” “Gambling can lead to financial and legal problems, loss of career and family, and other serious issues.” No kidding! Well cease and desist!

“Call this help line if you have a gambling problem”. It’s too late if you have lost everything!