Wager Mage
Photo by Monstera Pexels Logo Photo: Monstera

How do you stay anonymous after winning the lottery?

By using a trust, you may be able to keep your identity a secret. Check local and state laws regarding trusts when it applies to lottery winnings and anonymity.

kiro7.com - Powerball: What you should do if you win lottery jackpot, can you stay ...
What happens if you gamble online under 18?
What happens if you gamble online under 18?

Fines (Between $500 and $1,000) Driver's license suspension (Six months) Probation. Community service.

Read More »
Last updated Feb 5, 2021
How is cash out calculated?
How is cash out calculated?

Cash Out is calculated by using the potential winnings from a bet alongside the current odds you would receive if that bet was placed now. Jan 7, 2019

Read More »
Last updated Nov 28, 2021

As they say, you can’t win if you don’t play, but what should you do if you play and win a lottery jackpot?

If anyone finds out, you will certainly become the center of attention. But before that happens, you need to make sure you secure your winnings.

Be quiet about winning

Financial and investment advisors say that if you win, you should not announce your winnings to anyone. First, make a plan before telling friends and family.

Make copies of the ticket, secure it

Don’t lose the ticket. State Farm says to make several copies of both sides of the ticket to show your lawyers and accountants. Then secure the actual ticket in a safe deposit box or personal safe. Once you’ve spoken to them, then sign the ticket.

Try to stay anonymous

In some states you can remain anonymous, but not all states will block the identity of the winners. Some states will disclose the identity of a winner after a certain period of time and depending on the amount of money won. Here are the states where winners can keep their identities private, according to Fox News: Arizona: Prizes of $600 or more — 90 days. Prizes over $100,000 — the winner’s name can remain confidential, but not the winner’s city and county of residence.

Delaware: Winners can remain anonymous.

Florida: Winners of $250,000 or more can be anonymous for 90 days, but the name and city can be released to a third party after that time. The specific address and phone number can remain confidential. A winner can also stay anonymous after the 90-day deadline.

Georgia: Winners of a prize that’s more than $250,000 can remain anonymous.

Kansas: Lottery winners can request to stay anonymous.

Maryland: Lottery winners can stay anonymous. Winners have to give specific consent to release their name or photo. Mississippi: The winner has to give the lottery organization written permission to have their identity released.

Missouri: The state must have prior consent to publish a winner’s name.

Montana: The winner must give permission to have their name released.

New Jersey: Winners of prizes over $1 million can choose to stay anonymous.

Can you bet for a living?
Can you bet for a living?

The dream of betting on sports for a living Of course, the answer to that question is an emphatic “yes.” For some bettors, that question prompts...

Read More »
Last updated Mar 15, 2018
Can you make a living online sports betting?
Can you make a living online sports betting?

Sure, some people make money betting on random games. But it easier to make money when you specialize in one or a few sports and leagues. The...

Read More »
Last updated Jan 21, 2019

North Dakota: Winners can remain anonymous.

Ohio: Winners can remain anonymous.

South Carolina: Winners can remain anonymous.

Texas: Winners of a $1 million prize or more can stay anonymous.

Virginia: Winners of a $10 million prize or more can stay anonymous.

West Virginia: Winners of a $1 million or greater prize can stay anonymous.

Wyoming: Winners can request to stay anonymous.

Other states and U.S. territories will require winners to disclose their names, city and amount won.

Decide if you want to set up a trust

By using a trust, you may be able to keep your identity a secret. Check local and state laws regarding trusts when it applies to lottery winnings and anonymity.

Sign your ticket

Whoever’s signature is on the paper is the winner. There is no record other than the ticket itself of what numbers you’ve played. But if you want to try to keep your identity a secret, then you may be able to use a trust. Should you decide to claim the money that way, make sure you’re signing the ticket correctly. You should also read the lottery game’s rules and contract before putting pen to paper.

Annuity or lump sum

Decide if you want to get a lump sum that will be less than the actual jackpot, or if you want the annuity payments. Lump sum, according to State Farm, can be about 60% of the total jackpot. If you have financial restraint, you can make the lump sum last, but if you are prone to spending, the annuity payments may be a better route.

Be prepared for taxes

Some states tax lottery winnings. Others do not. Make sure you know if you have to pay and how much that bill will be for, Forbes reported.

Plan for the future

Eventually, the money will possibly be passed down to your family if something happens to you. Plan now so you know they are financially secure.

©2022 Cox Media Group

kiro7.com - Powerball: What you should do if you win lottery jackpot, can you stay ...
How many hours a day should I practice darts?
How many hours a day should I practice darts?

3.5 hours Time per day The most any practice day should be is 3.5 hours, which equals a maximum of four full sessions with proper breaks. If you...

Read More »
Last updated Apr 9, 2021
What do the odds 5 to 2 mean?
What do the odds 5 to 2 mean?

What does 5 to 2 odds mean? 5-2 Betting Odds means that out of 7 possible outcomes, the 5/2 odds are that there will be 5 of one kind of outcome...

Read More »
Last updated May 1, 2019
What is the best way for someone to send you money?
What is the best way for someone to send you money?

All you need is an internet connection. Zelle. Zelle is a great option to quickly pay back your friends and family. ... Venmo. Venmo is a popular...

Read More »
Last updated Apr 30, 2020
Who are the 3 sports billionaires?
Who are the 3 sports billionaires?

Athletes who are billionaires: A list of billionaire athletes in the world currently Vince McMahon, $2 billion. Michael Jordan, $1.6 billion. ......

Read More »
Last updated Sep 1, 2019