Big Win (Part 2)
After spending a pleasant few minutes daydreaming about a big win playing the lottery, reality set in with the implications of actually winning big. Serious issues, problems and dangers accompany any big win. Part 1 of this series provided an over-view of some of the possibilities. In this Part 2, some food for thought suggestions are offered.
First off, a very important basic fact:
A winning lottery ticket is just like cash, if it is lost or stolen there is little chance for getting it back and as far as the lottery is concerned the person that shows up with a winning ticket, a government issued ID and a Social Security card gets the money.
Here are some ‘food for thought’ suggestions on how a big winner might proceed.
1. Keep quite, resist the urge to spread the great news of the big win.
2. Immediately fill out and sign the back of the winning ticket.
3. Have closeup pictures taken of the winner holding the ticket with numbers visible.
4. Put the ticket in an envelope, seal it and sign and date the envelope flaps.
5. Put the envelope containing the ticket in a safe place such as a bank safe deposit box.
6. Realize that life will never be the same as it was and act accordingly. Everything is going to change, some things for the better and some things for the worse.
7. Contact a highly reputable law and/or investment firm for advice, assistance and representation in claiming the prize and adapting to a new life afterward.
8. Claim the big win, while avoiding the “dog and pony show” publicity.
If the “dog and pony show” can not be avoided:
9. Obtain full-time security services, both residential and personal bodyguards for all immediate family members.
10. Obtain a high security temporary residence for all immediate family members.
One Way To Avoid the “Dog and Pony Show”:
Under Oklahoma Law and Lottery Commission rules the names and home towns of lottery winners are made public if the prize exceeds $600. Lottery winners are encouraged to undergo the “dog and pony show” of claiming their prize and being photographed holding the ‘big check’, while smiling ear to ear. All state lotteries engage in “dog and pony shows”, as they are great publicity for boosting lottery sales.
Oklahoma Lottery winners do not have to participate in the “dog and pony show” to obtain their winnings. All that is required is that they appear at the Oklahoma Lottery Commission offices, present the winning ticket, their government issued photo identification and social security card. Of course the name and home town of the winner will be released to the news media.
Within only six months of Oklahoma becoming a member of the Powerball Lottery a grand prize winning Powerball ticket was sold by a Quick Trip store in Broken Arrow. The grand prize was $101.8 million with a lump sum cash value of $46.3 million. The big win was claimed in August and to this day hardly anyone has a clue to the identity of the big winner or winners.
Oklahoma’s first big winner or winners managed to avoid the “dog and pony show” by setting up a trust fund and having the trust fund’s attorney claim the prize in its behalf. There were howls of protest when the trust claimed the prize. However, under existing Oklahoma law and lottery rules, creating a trust to claim and manage lottery winnings was and remains perfectly legal. Doing so is also the best means available to avoid the flood of publicity, problems and potential dangers that accompanies any ‘big win’ playing the Oklahoma Lottery.
