What actually happens when you win the lottery.Prev TopicNext Topic

• bluerain

  United States
  Member #152,751
  February 24, 2014
  327 Posts
  Offline
  Jun 27, 2014, 9:25 am

  ▲▼

  they  take  your  money on the  spot when u  purchase  a   ticket,  so  they  should   pay  on  the  spot
• Piaceri

  

  Republic of Texas
  United States
  Member #57,555
  January 9, 2008
  1,095 Posts
  Offline
  Jun 27, 2014, 2:09 pm

  ▲▼
  In response to mikeintexas

  Quote: Originally posted by mikeintexas on Jun 25, 2014

  That's right, "depends upon the state".  I just looked through the Texas Lottery website and didn't see anything about the time between claiming a JP and getting your money, just that it could take up to six weeks if claiming by mail for smaller prize amounts.  Anything over a million bucks has to be claimed at the Austin headquarters, a distance of nearly 500 miles for me. (I believe I'd fly so I could get back in time to "batten down the hatches" and put my plan into place.  I have a suspicion they wouldn't delay releasing my name to accommodate me, so I'd probably hire a friend or neighbor to keep an eye on my house and shoo away anyone who wants to "slip" on my sidewalk leading up to my front door before I got back...SO many things a person needs to do before claiming.)
  
  I suspect they - the state - would take their own sweet time in forking over the money; they'll be making interest up to the time the check is cashed and the funds taken out of their account.

  I had thought that I read somewhere that funds were electronic, but about 4 days to clear depending on your bank - for Texas Lottery winnings. Multi state takes a minimum 2 weeks for all the states to send the money to the winning state.

  Wasn't there someone here who reported that for the multi state jackpots, your home state would pay an initial $1m or so in anticipation of collecting all the funds from the various states? 

  I sure would like to find out how this works first hand, though! 

  

  singlewinnersinglewinnersinglewinner   
  
• hearsetrax

  

  United States
  Member #52,343
  May 21, 2007
  3,790 Posts
  Offline
  Jun 27, 2014, 3:25 pm

  ▲▼
  In response to Piaceri

  Quote: Originally posted by Piaceri on Jun 27, 2014

  I had thought that I read somewhere that funds were electronic, but about 4 days to clear depending on your bank - for Texas Lottery winnings. Multi state takes a minimum 2 weeks for all the states to send the money to the winning state.

  Wasn't there someone here who reported that for the multi state jackpots, your home state would pay an initial $1m or so in anticipation of collecting all the funds from the various states? 

  I sure would like to find out how this works first hand, though! 

  LOL I'd love to find out for myself as well

   

  well  s to this Saturday's PB

  
• Teddi

  

  United States
  Member #142,493
  May 13, 2013
  1,394 Posts
  Offline
  Jun 27, 2014, 4:28 pm

  ▲▼
  In response to Piaceri

  Quote: Originally posted by Piaceri on Jun 27, 2014

  I had thought that I read somewhere that funds were electronic, but about 4 days to clear depending on your bank - for Texas Lottery winnings. Multi state takes a minimum 2 weeks for all the states to send the money to the winning state.

  Wasn't there someone here who reported that for the multi state jackpots, your home state would pay an initial $1m or so in anticipation of collecting all the funds from the various states? 

  I sure would like to find out how this works first hand, though! 

  Does that initial $1 million payout from the state also depend on the state? Do all the states do that or just some? Because I remember a destitute person won a MUSL game some years back and he got a financial advisor who got him a small loan so that he could have a place to live and food to eat until he got his winnings. Surely he wouldn't have needed to do that if giving a million to the winner right away was something standard. Though I suppose it would explain why so many people claim their winnings right away.

  I too would prefer Cersei Lannister to Tiny Hands. She always pays her debts, hasn't filed 6 bankruptcies and is educated enough to know Nambia isn't a country.
• CDanaT

  

  Central TN
  United States
  Member #121,187
  January 4, 2012
  7,758 Posts
  Offline
  Jun 28, 2014, 11:44 am

  ▲▼
  In response to mikeintexas

  Quote: Originally posted by mikeintexas on Jun 25, 2014

  That's right, "depends upon the state".  I just looked through the Texas Lottery website and didn't see anything about the time between claiming a JP and getting your money, just that it could take up to six weeks if claiming by mail for smaller prize amounts.  Anything over a million bucks has to be claimed at the Austin headquarters, a distance of nearly 500 miles for me. (I believe I'd fly so I could get back in time to "batten down the hatches" and put my plan into place.  I have a suspicion they wouldn't delay releasing my name to accommodate me, so I'd probably hire a friend or neighbor to keep an eye on my house and shoo away anyone who wants to "slip" on my sidewalk leading up to my front door before I got back...SO many things a person needs to do before claiming.)
  
  I suspect they - the state - would take their own sweet time in forking over the money; they'll be making interest up to the time the check is cashed and the funds taken out of their account.

  Mike....our state seems pretty good about the payouts being relatively quick..... I have a little over 300 miles to get to Austin( 4 1/2 - 5 hour drive)....After the day or 2 of being on total nerves, getting to the bank to get a safety deposit box, it would be time to get to work on contacting the attorney and financial team , making appointments to see each of them.... As far as collection day, I think I would get a rent-a-car(truck), drive that one....give me a good chance be thankful for what me and the mrs. are about to receive...after collecting the big check, head back to the residence...get all the big bills( House) taken care of, will drawn up(unless it could be 100% completely done in advance)..
  Have an RV ready to go...head off....destination ???  USA.... Timeframe ???  to be determined....budget ??? negative.....Ponder my future endeavors and just smile alot
• Goteki54

  

  Baltimore, MD
  United States
  Member #143,326
  May 30, 2013
  471 Posts
  Offline
  Jun 28, 2014, 3:40 pm

  ▲▼

  Exactly!!!

  

  Following the trends and patterns means following the money!
• Coin Toss

  

  Zeta Reticuli Star System
  United States
  Member #30,469
  January 17, 2006
  11,788 Posts
  Offline
  Jun 29, 2014, 12:42 am

  ▲▼

  What actually happens when you win the lottery.
  
  Government agents posing as "Men In Black" whisk you away and call it an alien abduction!
  

  Those who run the lotteries love it when players look for consistency in something that's designed not to have any. So many systems, so many theories, so few jackpot winners. 

  

  There is one and only one 'proven' system, and that is to book the action. No matter the game, let the players pick their own losers.
• psykomo

  

  United States
  Member #4,877
  May 30, 2004
  5,289 Posts
  Offline
  Jun 29, 2014, 1:38 am

  ▲▼
  In response to noise-gate

  Quote: Originally posted by noise-gate on Jun 26, 2014

  In California it can take up to 6 weeks.

  NG:

  Please >>>>>>>>>>>can U  help UR neighbor'$$$$$$$$$$$$ on D west coast

  git D money >>>>>>>>>>>>>>>>>>>>>>>$$$$$$$$$sooner than 6 week's??

  where?^RD^Lottery Lover Person's n calie

  never mind<we have>no<!

  no understand'g of whoD lottery post  LLP should B>>>>>>>>>ND year 2014>>>>>>>>>>>??????????

  but, that bring'$ up another subject??????????????????

  RD Lottery Post member'^ gitn>dum>R>dummer>>?!
• mikeintexas

  

  Texas Panhandle
  United States
  Member #136,837
  December 20, 2012
  1,660 Posts
  Offline
  Jun 29, 2014, 2:16 am

  ▲▼
  In response to Piaceri

  Quote: Originally posted by Piaceri on Jun 27, 2014

  I had thought that I read somewhere that funds were electronic, but about 4 days to clear depending on your bank - for Texas Lottery winnings. Multi state takes a minimum 2 weeks for all the states to send the money to the winning state.

  Wasn't there someone here who reported that for the multi state jackpots, your home state would pay an initial $1m or so in anticipation of collecting all the funds from the various states? 

  I sure would like to find out how this works first hand, though! 

  I don't know, Piaceri.  I didn't see that on the official site, but I may have missed it.   That would be nice if they'd advance you some of your winnings like that.   I'd like to know all this too, seems like they'd have that information on the website.

  Epstein didn't kill himself.
• mikeintexas

  

  Texas Panhandle
  United States
  Member #136,837
  December 20, 2012
  1,660 Posts
  Offline
  Jun 29, 2014, 2:28 am

  ▲▼
  In response to CDanaT

  Quote: Originally posted by CDanaT on Jun 28, 2014

  Mike....our state seems pretty good about the payouts being relatively quick..... I have a little over 300 miles to get to Austin( 4 1/2 - 5 hour drive)....After the day or 2 of being on total nerves, getting to the bank to get a safety deposit box, it would be time to get to work on contacting the attorney and financial team , making appointments to see each of them.... As far as collection day, I think I would get a rent-a-car(truck), drive that one....give me a good chance be thankful for what me and the mrs. are about to receive...after collecting the big check, head back to the residence...get all the big bills( House) taken care of, will drawn up(unless it could be 100% completely done in advance)..
  Have an RV ready to go...head off....destination ???  USA.... Timeframe ???  to be determined....budget ??? negative.....Ponder my future endeavors and just smile alot

  It'd take me close to an hr. to get to the Amarillo airport, then an hr. flight to DFW and I bet there'd be a layover in Dallas, or at least I'd have to switch planes.  Prob. another hr. to Austin and a half hr. cab ride to lottery headquarters.  I'd have that ticket wrapped in so much plastic and taped around my waist the airline scanner would probably think it's a bomb.    It's too bad they couldn't just validate the ticket at the Amarillo regional office and take photos and such there, but....I'm not going to whine about it if I do win, though.

  Epstein didn't kill himself.
• Piaceri

  

  Republic of Texas
  United States
  Member #57,555
  January 9, 2008
  1,095 Posts
  Offline
  Jun 29, 2014, 9:58 am

  ▲▼
  In response to mikeintexas

  Quote: Originally posted by mikeintexas on Jun 29, 2014

  I don't know, Piaceri.  I didn't see that on the official site, but I may have missed it.   That would be nice if they'd advance you some of your winnings like that.   I'd like to know all this too, seems like they'd have that information on the website.

  Years ago, one of our members here wrote to several state lottery office with a list of questions regarding claiming major jackpots and the procedures. Most answered, some did not. Texas did. They posted the responses from each state lottery office.

  I've searched for that thread and found it! https://www.lotterypost.com/thread/236652  It does not address advancing funds on a multi-state game that has not been fully collected from the other states. In light of the recent MM jackpot being won in Texas, I'm tempted to fire off an email myself.

  

  singlewinnersinglewinnersinglewinner   
  
• RJOh

  

  100

  mid-Ohio
  United States
  Member #9
  March 24, 2001
  20,272 Posts
  Offline
  Jun 29, 2014, 10:26 am

  ▲▼
  In response to Piaceri

  Quote: Originally posted by Piaceri on Jun 27, 2014

  I had thought that I read somewhere that funds were electronic, but about 4 days to clear depending on your bank - for Texas Lottery winnings. Multi state takes a minimum 2 weeks for all the states to send the money to the winning state.

  Wasn't there someone here who reported that for the multi state jackpots, your home state would pay an initial $1m or so in anticipation of collecting all the funds from the various states? 

  I sure would like to find out how this works first hand, though! 

  I've read of supposed winners convincing local merchants that they've won a lottery jackpot and being extended credit for a new car and other stuff, I suppose you could try the same thing with your local bank if you just had to have some of your winnings right away.

   * you don't need to buy every combination, just the winning ones * 

         
  
• LottoMetro

  

  Happyland
  United States
  Member #146,338
  September 1, 2013
  1,176 Posts
  Offline
  Jun 29, 2014, 2:02 pm

  ▲▼
  In response to Piaceri

  Quote: Originally posted by Piaceri on Jun 29, 2014

  Years ago, one of our members here wrote to several state lottery office with a list of questions regarding claiming major jackpots and the procedures. Most answered, some did not. Texas did. They posted the responses from each state lottery office.

  I've searched for that thread and found it! https://www.lotterypost.com/thread/236652  It does not address advancing funds on a multi-state game that has not been fully collected from the other states. In light of the recent MM jackpot being won in Texas, I'm tempted to fire off an email myself.

  I've never heard of Texas, or any MUSL state really, advancing funds not received for jackpots. Seems like that would open up a liability for them. I did a quick search on Texas' regulations and found this: "If necessary, when the due date for the payment of a prize occurs before the receipt of funds in the prize pool trust sufficient to pay the prize, the transfer of funds for the payment of the full lump sum cash amount may be delayed pending receipt of funds from the party lotteries." Basically they can hold the payment until they receive all the monies.  I also found in their Powerball FAQs document the following: "The earliest you may receive your Powerball grand/jackpot prize is on the 17th day after the draw date." So even in a best case scenario, if you're destitute you better find a bank.  Any bank can call up the lottery commission and get verification that you won, and the lottery might even offer to sign a notarized statement.

  If the chances of winning the jackpot are so slim, why play when the jackpot is so small? Your chances never change, but the potential payoff does.
  If a crystal ball showed you the future of the rest of your life, and in that future you will never win a jackpot, would you still play?

  P&L % = Total Win($)/Total Wager($) - 1
• TinkerMazell

  

  Augusta, Georgia
  United States
  Member #127,848
  May 10, 2012
  83 Posts
  Offline
  Jun 29, 2014, 5:23 pm

  ▲▼
  In response to Think

  Quote: Originally posted by Think on Jun 26, 2014

  They tell you "you know you didn't have to bring this ticket in you can get your $2 at any retailer".  Then as you are leaving, just before the door closes, you can hear them say "what an idiot".

  LOL! Please tell me you did not do that!