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Is it really possible to keep your win secret?

Topic closed. 12 replies. Last post 10 years ago by CA LotteryGuy.

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United States
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November 16, 2005
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Posted: November 1, 2006, 4:33 pm - IP Logged

I was wondering if you actually can keep your name secret. The reason I ask this is I read about lottery winners (who had claimed there wins publicly) who have gone to buy expensive cars or houses and they were shunned by the salespeople until the salesperson checked there credit report.  So even if you claim anonymously, through a trust, or Limited Liability Company you would still have to report your income to the IRS right?  When you file the tax forms would they put lottery winner on the form?  So when your give a Social Security Number to buy a Car or House wouldn't the salesperson find out instantly if you were a lottery winner?  The reason I ask is because I heard about a lottery winner going to Las Vegas  and getting a line of credit they ran her name through the computer and found out she was a lottery winner.  After that she was hounded because it got around she was a lottery winner.

    guesser's avatar - Lottery-017.jpg

    United States
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    Posted: November 1, 2006, 5:56 pm - IP Logged

    I didn't think your credit history shows HOW you got rich, it just shows the sum of some of your accounts, or dollar amount deposits, but I could be wrong.

     

    I can't imagine anyone in Vegas letting that kind of info out - they want her there blowing money, and not getting upset and leaving.

    You can bet if the Casino owner found out who/if one of his employees spilled the beans, that employee would be wearing concrete boots in Lake Havasu. 

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      California
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      Posted: November 1, 2006, 6:08 pm - IP Logged

      petergfn...If I were ever so lucky to win the lottery my approach would be to use cash whenever possible.  I would walk into the car dealer and say "That is the car I want, how much do you need and will a cashiers check work?  I'll be back to pickup the car with the check tomorrow."

      No credit report neccessary.  If need be, buy the car out of town so no word can get out.

        weshar75's avatar - Lottery-042.jpg
        Mcminnville, Oregon
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        December 13, 2003
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        Posted: November 1, 2006, 6:09 pm - IP Logged

        I would think a reputable casino/resort would use some discretion and respect to any of their high limit players regardless of how they came into their money.  Based on the sole purpose that they would want them to return to their establishment for future use of their property.-weshar75

          tntea's avatar - Lottery-059.jpg

          United States
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          Posted: November 1, 2006, 6:40 pm - IP Logged

          Who would want credit after winning the jackpot?

               OLD/Vtrac   Lottery Bible         Double Warnings      Thumbs Up TN F34/F44

            Coin Toss's avatar - shape barbed.jpg
            Zeta Reticuli Star System
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            Posted: November 1, 2006, 7:15 pm - IP Logged

            Not sure it was the woman referred to in the OP but when I worked in Vegas we had a woman player who had won the California lottery.

            She came to town with $40,000 or so cash and said that was going to be her 'fling' and she was going to bet a couple of thousand a day on basketball. She also said that when that was gone, it was gone, and as far as I know we never did see her again.

            OK, she came to town with the cash, she put it on deposit in the cage (people do this so as not to carry a lot of cash around with them) and would take out markers to play with.

            (There are different kinds of markers, when a player has deposited money in the cage, they are simply taking their own money out in the form of casino cheques (chips) but it's still called a marker.)

             When she would request a marker on the game, the floor supervisor would look her up in the casino's database of credoit players, and it gave her name, line of credit, and occupation: California Lottery Winner.

            The people who handled the casino credit and table game supervisors knew this but they didn't 'advertise' it.  

            As far as a lottery winner buying cars, houses, etc.... I think they realize that if they don''t pay cash and do it via credit they know thye're asking for their source of income to be revealed. 

            I remember a casino boss in Vegas saying that when someone shows up at a Cadillac dealership and pays cash for a car, the dealership doesn't ask them where or how they got the cash, why should the casinos? (That was 'then', when the casinos where still 'family' owned, not corporate owned).

              RJOh's avatar - chipmunk
              mid-Ohio
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              Posted: November 1, 2006, 7:28 pm - IP Logged

              Who would want credit after winning the jackpot?

              A lottery player who just matched 3 straight in a pick3 game for $500.

               * you don't need to buy more tickets, just buy a winning ticket * 
                 
                           Evil Looking       

                time*treat's avatar - radar

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                Posted: November 1, 2006, 8:41 pm - IP Logged

                If you have to sign for it, it's not a secret. Think about when someone famous or elected gets a speeding ticket. It's in all the papers. There is always the "anonymous leak", and it isn't necessarily the person you're dealing directly with.

                I read somewhere that your tax forms will say "professional gambler" for occupation.

                In neo-conned Amerika, bank robs you.
                Alcohol, Tobacco, and Firearms should be the name of a convenience store, not a govnoment agency.

                  megamillionaire's avatar - Sphere animated_small_ neg2.gif
                  Queens, NY
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                  Posted: November 1, 2006, 9:35 pm - IP Logged

                  CA Lotteryguy, the problem with your idea, is in this country any money transaction where the item is over 10 thousand dollars And you pay the full price up front, the seller, bank or whoever is required by law to report it to the IRS. A few high end car dealerships have gotrten into trouble for selling expensive cars to drug dealers for cash and not reporting the deals to the IRS.

                  Megamillionaire

                  Time is a wonderful teacher, but it kills all its students.

                  A man must consider what a rich realm he leaves when he becomes a conformist.

                    JackpotWanna's avatar - squiz

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                    Posted: November 1, 2006, 10:09 pm - IP Logged

                    It is very hard to keep it a secret.  No matter how hard you try to keep your identity hidden, people will always find a way. The only way is to live near other rich people and live a quiet lifestyle. Blend in the rich crowd.  I agree paying with cash is not the best way.

                      Coin Toss's avatar - shape barbed.jpg
                      Zeta Reticuli Star System
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                      Posted: November 1, 2006, 10:13 pm - IP Logged

                      megamillionaire

                      That's true that any cash transaction of $10,000 or more has to be reported (it's called Regulation 6 Alpha, 6A), but even at that, the source of the income is not reported, just the person's name, address, and social. 

                        BaristaExpress's avatar - BaristaExpressMX zpsfb0d8b5d.png
                        Magnolia, Delaware
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                        Posted: November 1, 2006, 11:25 pm - IP Logged

                        I didn't think your credit history shows HOW you got rich, it just shows the sum of some of your accounts, or dollar amount deposits, but I could be wrong.

                         

                        I can't imagine anyone in Vegas letting that kind of info out - they want her there blowing money, and not getting upset and leaving.

                        You can bet if the Casino owner found out who/if one of his employees spilled the beans, that employee would be wearing concrete boots in Lake Havasu. 

                        Why go all the way to Lake Havasu for? When Lake Mead is so much closer and deeper.....lol

                        Keep dreaming the impossible dream, it just may come true! Thumbs Up

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                          California
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                          Posted: November 2, 2006, 11:27 am - IP Logged

                          Since a personal check would not be reported, offer to pay by check and wait for a few days to pick up the car once the car dealer knows your check has cleared.  The fewer places that have your social security number, the better.

                          In order to keep people at bay have a seperate checking account that you fund as needed to pay for larger purchases such as houses, cars, etc.

                          Also on the 6A report, as Coin Toss noted, a transaction is reported, not your bank account balance, etc.  What you need to steer clear of is giving out your personal financial information.

                          Given enough time (and money to worry about!)  I would try everything I could to keep as low a profile as possible.  Thanks to LP I keep on finding new ways to make this happen.  Now all I need to do is win!!!