to think going public with a lottery win is bonkers?

[WhataPlank]

Just watched a little YT documentary following the lives of lottery winners and I was blown away by how many people reach out to lottery winners to beg money; not just friends and family, ex-colleagues or even ex-friends, but complete strangers with sob stories (both genuine and fake).

Is there some kind of incentive offered by the lottery people to go public? It's obviously in the organiser's interest as its all publicity, but surely there's nothing in it for the winner but absolute misery?
There must be some kind of bonus for announcing it, because why would you want everyone to know!?

It doesn't have to be the financial advisor. The estate agent, the hairdresser, the local taxi firm, car showroom. Your neighbours noticing that your shopping is now being delivered by ocado/waitrose/fortnum and Mason and that you have a winter sun tan.

I live in a small town, a lot of people are related to each other. It doesn't take much to get a gossip ball rolling.

I agree and also the same would apply with inherited or earned wealth

My mum won a million on a lottery ticket and stayed private. She was offered free financial advice.

The only people that found out were family, as she obviously wanted to buy a new house and give close family members gifts etc. E.g. she bought me my first car and paid for most of my £12,000 wedding.

If I won the lottery, especially a large amount over 10 mil, I would be staying VERY silent. I would let my mum and stepdad know about my win, but not really anybody else (yes even sisters etc).

I would buy a house almost certainly straight away, but nothing like a mansion etc, maybe a nice detached new build. People have been aware that I have been saving for a house and wanting to move anyhow. I wouldnt get a new car etc, but I would pay off my current one.

I would want a huge holiday but would likely say a work bonus helped pay for it. I would probably stay working full time as well for my own mental health and sanity. Remaining would be halved - half invested, half in the bank.

If anyone asked about my holidays (as I would be taking a couple a year etc), I would just tell them I got a payrise in work.

You'll find most people are quite reserved at asking about money and will take it at face value.

Those that go out buying mansions or huge estates, designer cars etc only have themselves to blame for being outed.

There was, a friend of mine works for them

@pinkonpuce , @SameSameButDeliverance

That’s good to hear for the staff.
Hopefully they’re protected for a few years too.

Regarding the Euromillions I read it takes about a month from claiming to the jackpot money being in your bank account.

Not sure anyone would care about getting more for announcing it unless it's a relatively small win.

They covered it on the news the other day with a financial expert. For most people it's apparently related to obvious lifestyle changes, wanting to give money or other things to your friends and relatives without them worrying how you can afford it, etc.

I would totally share that I'd won. I probably wouldn't make a big thing of it or have it in the press, but I wouldn't lie about it or hide it. My rule of thumb is to only have people in my life who wouldn't ask me for things like that anyway.

Just search for the names of the people who didn't go public, see if they really do get hunted down by the press.

I had thought that perhaps the press weren't allowed to name anyone who wanted to stay anonymous as I've never seen such a story but perhaps no-one is that interested anymore, even the big wins are fairly regular.

There was an article on the BBC news website about the guy from the lottery who goes to meet the big winners, that gave some insight, it seemed to equate not going public with not even telling your family, which surely isn't the same thing.

There's this article too on the lottery website.

https://www.national-lottery.co.uk/life-changing/winner-advisor-carter

I think it's interesting how many PPs say they would pass off their extra spending as 'inheritance'.

Why is inheritance more acceptable than a lottery win?

Inheritance is only a lottery of birth.

It's less likely to have strangers harassing you.
People in your life will still be jealous and ask for 'loans' if that's the type of person they are but the world won't be at you too.

They get a choice
go public and get advice on how to spend wisely and invest their money and things like tax avoidance on any profits
or stay private but no advice
I personally wouldn't tell anyone of the windfall other than close family and friends but I understand those who do

That’s not true. There is no difference in the advice and support from the lottery in the UK regardless if you go public or stay private

https://www.national-lottery.co.uk/life-changing/winner-advisor-carter

Why is inheritance more acceptable than a lottery win?

It's because people are less likely to ask for inheritance money as it's from a dead person and grief is probably involved. Obviously, people still do but its more easy to say stuff like "I cant, its tied up in a trust" or "they had specific instructions for how it was to be spent" etc

It's not about it being more "acceptable", it's to avoid all and sundry descending on you begging and harassing you for money.

I don't know why people are so wedded to the idea that you don't get advice if you don't go public. It pretty much comes up on every thread on the subject.

I read a book about this and one of the professionals who regularly advises winners said that the middle classes are more likely to be able to pass off a big win by saying an investment paid off, or that they had received an inheritance. They were less likely to be asked personal questions questions. Those who lived in less wealthy areas were more likely to receive intrusive questions from friends and neighbours.

I'm not sure if that holds true because many here claim to have in-depth knowledge of the finances of every man and his dog.

When you win you have a new bank account opened, usually with the private wing of a bank. This cuts the staff of your local Barclays out of the loop.

I would most definitely not go public, my sister would possibly find out but not any of the rest of the family. There'd be endless hints for money.

One of my aunts won a significant amount in the German lottery in the 80's. She made the error of telling the family. In the end, she and her husband spend not much money on themselves and an awful lot on my grandparents' house.
Somehow, my grandmother thought that it was her right to ask her daughter to, essentially, give up her winnings to support her parents.

In stark contrast, my uncles family also knew, they never asked for a penny and were more of the "good for them" conviction.
So this, for me, was a warning to not tell people I didn't 100% trust to keep schtum.

In all likelihood, I will never win significant amounts in the lottery, but if I did, I'd keep on working and explain the purchase of a modest flat and car by an inheritance. Yes, I would take holidays, but nothing outrageous.

Years ago, I read an interview with a "winner adviser" from one of the German lottery companies. He said, they always advise people to remain anonymous and, ideally, not tell too many people.
What stood out was that he said knowing that a friend or family member has won large amounts, often changes relationships.

You couldn't tell anyone in your family as someone will spill the beans because it's too exciting to hold in

I know someone who won the lottery, years ago when it was only on a Saturday, and it was a couple of million that she won, rather than mega millions.

She was young and single, doing her degree at the time, and decided to go public, photos holding the massive cheque, popping champagne etc. Since then she got married and has children. Every now and then she appears in the press, usually the local press, doing lottery charity type events, the children and husband don't get involved.

Anyway they seem to have a normal life and don't get hassled. Maybe it's different if you've won an insane amount though.

But then you couldn't do anything with the money at all, if someone won £200 million, surely it would be obvious to your family members when you suddenly moved to a bigger house and started going on holidays etc. They would know about your job and career and the lack of any rich aunties leaving you an inheritance too, whereas your new neighbours would not. Who would they spill the beans to though? It may also be in their interest to keep quiet about it too, as people may assume they have been given a few million too.

No way would I go public - you'd have to be insane to do that

Some people will do anything to be so-called 'celebrities'...

@alanet I've got a plan.

Upgrade to a bigger house away from current home. Say either small lottery win or inheritance. Then you've got distance but can keep in touch still with friends.
A small win invested wisely could explain away holidays.
This will filter out the people who are going to be problematic.
If the high life is a must then some time after this first move you make a second. But at that point you've got to lose a lot of people who'll be jealous or cheeky.

My younger sister told me she only needs a million. I'd love to be in a position to give her that much.

I was under the impression they had to ‘go public’ with the win, if they want to receive financial advice and support from Camelot advisers.

I definitely wouldn’t!

This thread reminded me to check my account (email to say I had won on yesterday's lottery) - I have indeed won - £2.30.

I have decided to go public and am looking forward to the financial advice... 😀

@akkakk can I interest you in investing in my exciting new business venture? Returns guaranteed. I guarantee there will be no returns.

I watched a really informative interview before about what happens when you win - they go to your house to check you are ok, give you some advice on what to do over the next few weeks etc.
There was so much financial advice I hadn't considered! Especially as I would want to share my good fortune with my family.