Just a bit of fun.
Does anyone know the actual answer to these.
I buy my tickets online - do you think if you win big someone calls you? Or do you log into your account and see winner winner!
How long does it take to get the funds to hit your bank account?
How much would you need to win to quit your day job?
Shenron?
Which time do you want me to tell you about?
How much would you need to win to quit your day job?
$3,748,969
$691,337,420
how did yous arrive at those numbers lol
$737,000
No wait, that's the amount necessary to support my family if I die.
Are you sure that's enough to support a family?
It is when you're planning to cook meth after finding out you have terminal lung cancer
$67.80
I won a massive $23 a few weeks back. Got notified by email and the money showed up in the online account the next day. I presume there's a bigger delay if you win a large amount, no idea personally
Same experience as mine.. only in my case it was $16.35. Big winners, us.
And you guys are still here on OzB?! Came back here to gloat didn't we?
I enjoyed this article a few years ago:
https://www.abc.net.au/news/2018-05-05/what-happens-after-i-…
I won after 3 months! How do I claim winnings? Better make an OzBargain thread..
I'm still going after 220 years of playing. I like those odds.
thats cool, thanks for sharing
finally won $50k after a couple hundred years, but i spent $60k to get it
2000 years and still no div 1 or 2
If it’s a registered standard ticket then a div 1 winner gets the call on the night, syndicates doesn’t count. Big payments nothing happens on the screen and no music is played, a prompt will come up on the terminal indicating the prize payment amount.
And depending on the amount they won it can take a few weeks for the transfer to happen. If it’s a really big amount they have specialists around to make sure you’re ok and can handle it.
I used to own a Tatts shop and have worked for one and I’ve seen older people getting near heart attacks once they heard how much they have won.
You hand in your ozbargain membership.
Never!
Nah you wait for that discount on the yacht.
STOP WASTING YOUR MONEY ONLY A MUG'S GAME
Are there any Tea Cup Games then?
Haha goddamn this got me giggling.
Haha, it's your ticket to "dream" not to win.
People pay for the dream, maybe for some it's worth it.
That's a good way to think about it.
You become a lot more attractive.
Reminded me of a live American tv broadcast in which the reporter asked this question and the man said some cocaine and bunch of hookers and she got embarrassed
That was a good one. Did you see the one where a big winner was asked to return to the ticket seller to reenact the day he won for the cameras, and he won big again on live tv?
I would tell nobody but my partner, unless I won a few million then I would tell my parents and pay off their mortgage for them, and I might tell my partner's nieces and nephews we can give them a deposit for buying a house (but not say I won the lotto). But that would be it, remainder of family is doing fine for themselves and don't need help. I wouldn't quit my job (I quite like it) but if it was at least a few million I would go part time and have more time for family and hobbies. Remainder of money would go into some safe investments for me to draw on very slowly, keep same lifestyle as I have now
I consider buying lottery tickets a bit of a nice tax. I get a disability pension from centrelink and spend maybe $400pa on lottery. Since I don't pay tax I figured it is a nice way to contribute to a system that gives people a chance to win prizes. Many people win thousands every day, and I bet it makes their day a good one, and it isn't likely to be me, but you've got to be in it to win it. In the mean time I feel I'm helping give some people a little break!
And what if i win $1M… well, I'll let you know how the process works once I've gone through it myself!
Better than playing the pokies I guess
Guys real question, if you win the lotto would you get a beach house or a big country house?
Beach sounds nice but I doubt there would be much privacy, and it probably would get old with the weather and size after a while.
Why not both?
I mean even with a 50m lotto having two multi million dollar houses isn't sustainable rates and other fee's wise I think. Unless you already have BIG income.
Not sure why you say that, most inner city houses are worth 1m+ if you suddenly had an extra $50m you can definitely afford another house. Bank interst alone would be $1m a year (not that I would recommend that).
What if you already own a beach house and hate animals?
Beach houses can have plenty of privacy. Lots of places that are slightly up hills or whatever, not right right on the beach but still have the access and the views. I already know the one I'll buy and its exactly this. Also climate change protected, being 50m above sea level
I would build an artificial beach with wave generator, next to my country house.
a big country house at the beach, obviously.
Most lotto winners blow it all within 7-10 years and live the rest of their lives as paupers. If you are stupid enough to spend money on lotto then you are stupid enough to waste all the money when you win lotto.
I'd never put it together like that, it makes perfect sense
So live like how I lived before I won the lotto? Eff yeah, net gains to be honest
Eh, I don't see thing wrong with buying $5 of tickets when it's 40m or more (like 4-5 times a year). I spend that on a cup of coffee and the fantasy is enough of an entertainment for my money.
I played the lottery for a while and most weeks didn't win anything. The wins were almost always smaller than what was spent to buy the tickets. Well, duh. That's how the lottery works. Most people lose most of the time, and it's highly unlikely you'll come out ahead.
So instead I put the $35 I would spend per week into an index fund and have been enjoying very healthy returns.
If you play the Saturday lottery your chances of winning Div 1 are 1 in 8 million. Think about filling the MCG to capacity (100k people). Now imagine building another 79 MCGs and filling those with people too. One person gets selected as the winner out of all those people. Why do people think it will be them?
yeah but if you play once a week for 50 years the odds shorten to a much more favourable 1:3000, and you've only spent about $90,000!
Or you'd have $400,000 with a 5% return
I used to play 50 games for $35 on Saturdays. $0.70 per game.
50 * 52 * 0.70 = $1820. 2600 games played. 8M / 2600 = 3076.
1 in 3076 over a lifetime of playing is terrible. The problem is you would need to spend $5.6M to be certain of a win (buy out all the combinations to a particular draw). How much did lotto pay last week? Just over one million. 5.6 spent to win 1. Oh dear. And you better hope no one gets lucky and slashes your return.
It's a money burning party, and the poor are invited.
8M / 2600 = 3076
That would only work if it's the one game that's drawn for the whole year you played. Otherwise each of the draws only takes into account how many times you played for that game only.
e.g. if you have two draws a year and have half a chance of winning each time, it does not mean you have 1 whole chance of winning (2 chances divided by 2 games). You still have only have half a chance for each draw.
That means for every game you ever play in your life, you have 1-in-8m chance for each of the draws!
Yea I would argue $35 a week is quite a high spend!
I spend $5.8 a week (min for both Sat and Wed draw) which over 50 years would cost me $15000 and $50000 in lost earnings.
My logic is I don't spend money on coffee(but this is about a coffee a week), save enough money, but by doing this I have my line in the water which could potentially greatly accelerate my savings goals. If nothing comes of it, it doesn't really take away from my savings.
Getting $1m tomorrow just means I have to be a corporate slave for slightly less time!
I just put the minimum amount of money in when it's 40m or more. 50m for powerball. If I'm gona be lucky I'll be REALLY lucky.
They ring you….
Cheque sent in a matter of days.
Any major prize would see me throw the job in.
Invest in a book, something to help u. I’m amazed at how many play the lotto.
I know one person who won around $150k and they said it was a rude awakening to find out they dont transfer u the whole amount.. they do it slowly in small increments 🙄 Powerball it was, so I'm guessing the ppl who won $50 million, well, takes a while
How slow are we talking? Like over a year? Or 20?
Hahahha oh gosh. if its over 20 years, thats 7.5k/year. Is the payout then indexed to inflation?
Well he told me it was a period of over a couple of years.. Oh sorry, he didnt win 150k, it was around 1.5 million shared with 10 other ppl! 😩 They all chipped in for the big powerball jackpot and won. This was more than 10 years ago, I dont know what its like now.
He also told me how in the US, its even worse.. Powerball winners who win like 900 million, get it paid over a period of 30 years.. and then ofcourse, getting taxed over there 😂 I was mindblown.
So thats why I'm guessing that that single person that won the 100 million powerball a few yrs ago or was it 120? cant remember, prob getting it slowly slowly 🤣
In USA you can choose lump sum or paid regularly.
Powerball winners who win like 900 million, get it paid over a period of 30 years
I think you choose either a lump sum which is something like just over half the winnings or the winning value over the 30 years. Not surprisingly most people take the lump sum even when it's taxed to hell.
Another thing you got to remember, in the US it's required by law to publicise the winner! Can you imagine the number of worms coming out of the woodwork after that…
What Happens When You Win Lotto?
Update my iphone.
If there's anything left over, I might invest in bitcoins.
A Division 1 win is never paid before 2 weeks. We win Div 2 once and I went to Head Office and got a check immediately.
I don't know how they handle it online, but registered ticket holders are called on the night in Qld or the next working day if it isn't a big draw.
How much you need to stop work depends on your age and how much annual income you want/need. Financial planners can tell you that.
We always said we wouldn't tell anyone and continue as normal for a period. Then buy of build our dream house and move. That neighbourhood wouldn't know you before so no problem there. If you move far enough away, friends won't be a problem either.
What game did you play? Did you pick your own number or random?
I don't know yet….wait, let me go buy one for this Saturday and I will let you know next week
What Happens When You Win Lotto?
You then realize there are better and bigger money wins than yours.
And that money wasn't all that important after all.
There are plenty of other needs, wishes, and money has nothing to do with it.
It helps for a smooth financial life but that is all.
Happiness is inside you, not in the bank ;-)
When you leave your old life behind you can afford the Silver service taxi to drive you away.
Are you sure winning a lotto will be enough for that?
If I won enough I would ask for 2 week unpaid leave from work and on that lats working day before my leave I would give them 2 weeks notice
I agree with other people and not let anyone know how much I had won not even family as they will say the wrong thing to the wrong person and then watch all the long lost relatives and friends you haven't seen in ages come out of the wood work
I have no experience but depending on how much you win i'd imagine
that the moment you fine out will be one of extreme joy!
I think you go into where ever they are based in your state to identify that you are actually you ie ID check
then they asked you where to send the money? i'd say most people it would be a bank account
Then I would say it would be worth talking to a financial advisor???
then the FA would guide you on what to do based on your personal goals
yet to find out. fingers crossed!
I've always wondered if the "You've won the jackpot" email is any different to the regular $10.20 win email.
The $1000+ email is slightly more exciting
I want to know what legitimately happens when you win a Boystown lottery or the like. Like do they draw the winner on the day it is announced? If you don't pick up the call do they go to someone else? I have this dumb conspiracy theory that they draw it the day before they announce it, line up the winner and verify them etc. sounds like it would at least take a day to sort all that out.
porsche 911 gt2 rs in silver.
GT3 RS Weissach pack in Black with red roll cage + RS6 as my daily =)
I'd probably go to the dentist.
Replace your teeth with gold teeth like them rappers
Serious answer:
Actually have some first-hand experience with a family member recently, won first division in Tattslotto and received a registered express post letter informing her of the win. Had money in the account within a week.
I've sold lotto for many years. If your registered you can expect a phone call possibly that night but probably in then morning. If you bring it in to scan the self serve machine will direct you to the terminal, we will scan the ticket and be directed to call the lotto line they will take it Fromm their. Either way takes 2 weeks to get the funds and you will need to either post in or take in the ticket to the lotto office :)
I would not trust aus post with a division 1 ticket. I'd fly to headoffice and personally oversee it the entire way, with armed guards!
I would get as many $80k investment vehicles I can so my portfolio of investment vehicles become worth 300mil in 5 years
Division 1, they ring you, also state in their terms and conditions you need to wait up to 14 days for them to get the funds from players.
Anything below, you'll get an email or check your online account.
I have higher chances of getting hit by lightning than winning the lottery.
So, I have never run this scenario, even when I have absolutely nothing to do or think about.
I've been zapped by lightning before, so my odds of winning the lotto must be pretty good right?
Change your name from cashews to either roasted_cashews or electro_man…
I wake up from a dream. It happens to me twice already.
A friend of mine won $3m in Oz Lotto. He bought a unregistered ticket at a newsagency. He checked his ticket online and contacted the Lott. They asked him to go into the head office in order to claim his prize. Once he got there, they took him to a winners room. Congratulated him, gave him a glass of champagne and provided him with an information booklet with some generic financial advice. He then completed some paperwork and the money was deposited into his account 2 weeks from the day he went to the head office.
He hasn't changed one bit and still a close friend.
That close friend of yours, did you give you some money?
No he didn't and to be honest I didn't expect a penny as I am doing fine.
He has a wife and 2 kids and both he and his wife have 2 siblings each.
He used to money to buy a house, new car, bought an investment property for his children and put some money in the bank.
I am sure he would have given some money to his and his wife's siblings.
$3m isn't enough to help out everyone.
I had a mate from school win lotto he one 54million. he was doing ok in life before win had avg house in small town. any way after lotto win life turn shit car house wife left him mate who used him I bump into him 5 years after win so how was lotto win he like woste thing that happen to him now on welfare and live pubic house
what ?
For someone who's been on Ozbargain for quite awhile, do you always post like this?
ur comment is woste tho
Wait…his house and car left him? Is a pubic house anything like a latex condo? Like Grandpa Simpson, "I'd sure like to live in one of those".
For all our sakes - please tell us more!
Wait…his house and car left him?
Typo, he meant horse and cat…
Need to know more about this pubic house.
It sounds…. interesting..
and live pubic house
Seems like a hairy situation…
Shame he didn't spend some of that money on grammar lessons for you.
Definitely don't wanna live in them pubic houses, hair all over the place
Yes it is a community fund you can have your community group apply via a grant. Doesn’t have to be a charity. Eg a scout troop.
I think church groups are not allowed.