Winning Mega Moolah: What advice would you receive if you won a multimillion dollar jackpot?

18 October, 2020

Have you ever wondered what it would be like to land a massive slots jackpot prize? Maybe you have thought of being the lucky one to land a progressive jackpot prize, which has awarded several prizes of over 10 million in a variety of currencies, plus one of over 20 million, won by a player using Canadian Dollars.

Or maybe you have seen the Wowpot progressive jackpot prize, still yet to be won by any player, climbing past the 7 million mark over the last few weeks and now edging towards the 8 million mark. What would it be like to win that prize?

It is a thought that anybody that has ever played any progressive jackpot slot game, or taken part in lottery games, has always dreamed about. Sure your chances are slim, but what happens if you were the lucky one to land a win?

Winning a large amount of money is the dream that almost everybody who plays these games hold, but have you really thought through what would happen if you did win big?

It is a good question because while many people have imagined what it is like to win a large amount of money, the reality of what happens can be very different and there are many things that you may not have thought of when dreaming about your big win.

That is why when someone is lucky enough to win a big money cash prize, many of them will receive something that could be as invaluable to them as the money itself. Advice on what to do now that they have become an unexpected, but grateful, millionaire.

Confirming the win

The general process to getting this advice is relatively simple. You play your game, be that a spin on Mega Moolah or the Wowpot slots or a lottery style game, you get incredibly lucky and land the big win. Most people would now go into shock and probably not believe their good fortune.

What happens then is that the organization running the game you played and won on will contact you, which is why it is always a good idea to ensure that your details are up to date with the establishment where you made your winning spin or bet. Always double check your phone details are correct as this will be the way that the company will likely contact you.

At this point, a verification process will begin which will seek to ensure a number of criteria are met. Firstly, you are who you say you are, secondly, you are living in the place where you say you live and thirdly, that the win you landed was a genuine one. This sounds like a nerve-wracking time and process, but in truth it does not take too long for the organizer to check the veracity of a win and when they are happy everything is in order, they will contact you to congratulate you on your win and arrange the transfer of funds to you.

It is at this point that the offer of an advisor to help you is often made and it is a very useful service to have as an interview with someone who advisors big money winners for a living clearly displayed.

Senior winner's advisor

The man offering advice to lucky winners is Andy Carter, a senior winners advisor from a large lottery company based in the United Kingdom and he confirmed that winning a lot of money is not only something that can alter a person's fortune, but that it "can be an overwhelming experience for some people. There's a lot to get your head around."

Mr Carter then passed on some tips to people who are fortunate enough to land a big win and some of these tips were:

  • Don't be in a rush to do things and sort things. "There is rarely anything that needs doing now," Mr Carter stated, "so take some time to plan and dream. Allow yourself some time to get used to the fact that you have won a substantial amount of money."
  • He also warned that while many people have hopes and dreams they want to put into action if they win a lot of money, Mr Carter warned that these ideas "often change once it actually happens." So being flexible with your plans for the money seems to be a smart idea.
  • Mr Carter also suggested "A holiday - if feasible and travel restrictions allow is another idea. It doesn't have to be the holiday of a lifetime, there is plenty of time (and money) for that, just have a few days away to let it sink in."
  • He also suggested that to make the win seem more real that a winner should "treat yourself, buy yourself something that, within the size of your win, is small, but you wouldn't have justified buying previously. It could be a Louis Vuitton handbag, a pair of Jimmy Choo shoes or even a sports car. This can often help to make the win feel more real."
  • Mr Carter also suggests that taking advice from legal and financial professionals is key suggesting that the winner should "surround yourself with a good team of professional people that you trust to help with managing your affairs."
  • One thing that people can neglect after a win, which is something surprising, is their general well-being. Mr Carter stated that winning a large amount of money is "huge shock" and that winners should "eat well, exercise and make sure you have plenty of rest and sleep."
  • Another issue not many people consider is what their purpose in life will be now that they have enough money not to have that as a primary issue. He suggests that winners "Establish your purpose" and that winners should refresh what their aims in life are now and what they want to do. He suggests talking to other big money winners to gain benefit from their experiences.

It is clear that if you do win 'the big one' that there is a lot more to deal with than simply what you are going to spend your money on. Another issue to consider is whether you want to remain anonymous, or whether you want to go public with your win. This is entirely your choice but there are some negative issues to face with going public, notably the number of begging letters and such you will receive, which can impact greatly on your mood and attitudes.

If you elect to remain anonymous however, as many big money winners do nowadays, then you can control who you tell about your good fortune and your win will not be public knowledge, although even then you can still receive similar begging letters from people who find out from third parties about your win. Having strategies to deal with this therefore is something else to consider.

However, for all the little minor issues to sort out, there is no doubt that winning a progressive jackpot like the Wowpot or Mega Moolah or another big money win offers players the one thing they would like the most, freedom to do what they would like to and that, perhaps, is worth more than any top jackpot prize.