Many people in Australia take part in local lotteries for a number of years before they actually win a prize in the game. In fact, chances of a participant winning a division one lottery is usually one in many millions. The reason for these minimal chances of hitting a jackpot is that nearly every adult in Australia takes part in one lottery game or the other. Such high number of participants have allowed lottery organizers to distribute bumper prizes that are worth more than a hundred million dollars.
You can imagine how much impact that amount of money can create in the lucky winner’s life. Unfortunately, there are some candidates who even after winning a lottery are not able to maximize on their gains. Some of them end up losing too much too soon while others pile up more debt then what they earned in the lottery.
- Powerball Results
- Monday & Wednesday Lotto Results
- Tattslotto Results
- Set For Life Results
- Cash 3 WA Results
Here are a few interesting stories about lottery winners from different parts of the country:
Sydney Laboratory Cartel
With the passage of time lottery games have become more advanced than they were centuries ago. People can now take part in lotteries in groups as well. This increases their chances of winning a Division one prize and helps in making the best use of their investment.
Cartel or a Syndicate is a group of individuals who combine their investments to buy multiple tickets in a lottery game. If anyone from the group wins a lottery, the prize is distributed equally amongst all members of the group. This option was used by a 22-member team from a Sydney lottery. The group won a grand prize of $24 Million which they distributed evenly amongst each other.
Guy Who Bought His Lucky Ticket From a Candy Shop
For Jake, it was a regular stop at his favorite candy store in Australia, when a thought struck his mind to purchase a lottery ticket. Little did he know that the same ticket would make him an overnight millionaire in the coming weeks. While sitting with his friends a few days later, a mate mentioned to him that the same candy store had recently sold a winning ticket, however, no one had claimed the prize yet.
For Jake, the idea of being that lucky winner was out of this world! And so he did not care to check his own ticket. Later on, another person mentioned the same story about the lucky winner not claiming the prize yet. Jake finally checked his ticket online and was shocked to see that it was him!
Jake won $20 Million in that power ball lottery and decided to buy two regular cars for his sons. He also tends to use his earnings in order to help his family gain financial stability.
His father’s advice finally paid-off
A young man from Western Sydney was trying his luck for the past three years based on the numbers his father gave him before dying. The young lad’s father suggested that if the jackpot was won, the money should be used to help family members in regaining their financial strength.
After three years of trying hard and purchasing tickets regularly, this man was able to fulfill his father’s dream by winning $8 Million Power Ball lottery.
The lottery winner stated that his father was a righteous man and advised him to play the game in the hopes to help his family. Earnings from the jackpot would be used for the very same purpose, and the boy will help out his family in the hour of need.
How Australian lottery winners spend their money
Winning a jackpot is a dream come true for almost every lottery player. Australian lotteries offer the highest odds and the highest amount of jackpot anywhere in the world. Here are some of the things lottery winners do after winning a grand prize:
Buy a mansion – For lottery winners, one of the most important things is to maintain their privacy. Many do so, by purchasing a luxurious mansion in a rich neighborhood. These mansions are usually selected based on the view, and the interior of the house. It is also a great investment for their retirement.
Talking to wealth managers – Lottery organizers usually advise winners to talk to a financial manager as soon as they can. This will not only help winning candidates in preserving their wealth but may also grow it over time.
It is not necessary that you follow financial expert’s each and every advice, but this may provide you with some very useful ideas of how to use your earnings in the most beneficial way.
Take a break – One of the first things many lottery winners want to do is call their office and tell their boss that they are not coming back to work. However, this idea is never recommended. In fact, it is quite beneficial to keep your job as it helps in maintaining a normal life even after becoming a millionaire.
Lottery winners have a once in a lifetime opportunity to take a break from work to travel to their ideal destination. They usually book an expensive cruise or a first-class airline ticket and enjoy a luxurious vacation with friends and family.
Invest – To protect their newly acquired wealth, lottery winners usually invest in real estate and precious metal. Buying properties is one of the best ways to earn a passive income on a regular basis. Converting cash into gold can help you build assets for your next generation.
One of the usual pieces of advice that any financial expert would give a lottery winner is to diversify their wealth into different asset classes. This will keep them safe when the economy is going downhill.
If you reside outside of Australia, you can still take part in some of the most popular lotteries in the country including the Tatt’s lotto and Oz Lotto. All you need to do is register on their website and you should be good to go!