Everything You Should Know if You Win $1B Jackpot

What if the god of luck comes to you and you win $1 billion jackpot? What should you do?

$1 billion surely looks interesting, not just to the winner, but also to everyone. The latter is important. We don’t know who else might be interested in your money. Some of them may be good people, while the others are not.

In his book, Lottery Hack Book, Michael A Muse spoiled the secret of some famous lottery winners. Instead of claiming the prize right away, you should concern about your ticket safety. You should protect it. Keep it in a safe place that no one else knows, except you. Also, you should never sign the back of your ticket.

We understand how desired you are to claim the prize. However, once you sign the back of your ticket with your name, you are the only one who can claim the prize. That means you have to show up to the public and have your name announced. Everyone will know who you are and where you live. If that happens, what’s left of being anonymous?

To avoid this, once you bought the ticket, make sure you copied. We don’t know whether you would win or not, but in case you win, you don’t have to go outside and copy the ticket. Next, you should get an attorney and a tax professional to help you manage the funds. Depending on your situation, they might advise several steps to allow you to keep the maximum amount of the prize and live in peace. The latter is crucial.

Sharing the prize

For some people, winning the jackpot brings blessing to their life and for them, sharing it is the best way to live with that blessing. In 2016, a group of 20 people from North American Stamping Group won $420.9 million jackpot from Powerball lottery. Instead of picking the one to have the whole money, they decided to split the prize among themselves.

One of them even split her share with her family, believing doing so will help her family to live in better shape.

In January 2016, the Powerball jackpot hit the biggest amount in history with $1.586 billion. The prize was later split between people in Tennessee, Florida, and California who won the prize.

Another example was dated back in March 2012. Three winners from Maryland, Illinois, and Kansas won the largest jackpot in Mega Millions history at $656 million. They later shared the prize among themselves.

If you are not in the mood for sharing the prize, you can also opt-in taking it as a lump sum or spending the money as investment funds. No matter which one you choose, make sure you have consulted the action with your attorney and tax professional. With them at your side, at least you will know what to do next. They may cost your prize, but their help will worth it. You may have less than the original prize at the end, but still, with hundreds of million dollars in your hand, you still have plenty of money to enjoy.