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What happens if you win the lottery?

Updated: 8/22/2023
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Wiki User

14y ago

Best Answer

The simple thought is you get the money.
However:

  • You have to show the ticket to prove it's real not a forgery
  • You have to claim the prize within the time limit
  • You have to agree to the terms of winning (available for publicity etc.)
  • You may have to answ a skill testing question
  • You have to pay any taxes owing
  • If the ticket is shared everyone has to be there to claim.
You then have to figure where to put the money, having a mega-big cheque in your wallet is not a good idea, so where will you have it deposited.
Then you've got to fend off old friends (and new ones) and relatives who want a cut
Then you have to figure out how you want it spent/saved/invested
Then you make lifestyle changes if any.
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Wiki User

14y ago
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Wiki User

12y ago

You usually win a maximum of 50 million, but some lottery tickets are for winning cars or something else besides money.

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