Should You Tell People About Your Lottery Winnings?

Author: Neha Agrawal

Here is the biggest problem to face all major winners of the lottery. Obviously if you win a relatively small amount on the lottery, let’s say downwards of ten thousand pounds, whether you decide to tell anybody of your great lucky win or not will probably be of no consequence – unless of course you owe money to people.

However, when you step up to lottery winnings in the tens of thousands, hundreds of thousands, millions, tens of millions and especially the hundreds of millions range, what should you do? Obviously a lot of people do decide to share their win with the world via news conferences, newspaper and magazine interviews and so on. Everybody loves to read what a winner is going to spend their haul on after all.

However, if instant popularity and fame isn’t your cup of tea, then perhaps you are better off being more discreet with your lottery winnings. There have been a number of cases where winners end up wishing they had said nothing due to some unwanted attention they receive, all because they went public.

It is a lottery winner's right to remain anonymous, as it is with most gambling games. So, what are some of the risks that you open yourself up to by going public and announcing how much you are now worth?

You might find suddenly that you are surrounded with plenty of friends. Lots of friends you haven’t spoken to in years, or people that used to tease you, or worse. Whenever anybody wins a lottery, people will always be people and try their hardest to remind you that they have always cared for you and that they have always stood by you. Whilst this might be true for some friends, for most they are likely just after a sniff of your winnings. You’d be surprised how many friends will come out of the woodwork if you win the lottery.

Another thing you should be prepared – particularly if you win a massive amount of money – are the do-gooders. While there is nothing wrong, and I’d actually encourage it, with giving some of your loot to charity, you might find that every single charity in the country is suddenly knocking on your door for a hand out. You don’t have to appease them all.

Worse things could also happen. It sounds horrible to say, but there are a small group of people out there who would go to great lengths to get hold of your lottery winnings. As terrible as it is, there are people who might hold property or people important to you at ransom until you give them what they want. The world is after all a vicious place sometimes. You may even find your home constantly being robbed.

If you were to take our advice, tell only who you must, only the trustworthy. Treat your family, treat yourself, and donate a bit to charity. Just don’t go telling the local crook or gossip all about it.