If you’ve bought what you hope are Powerball winning tickets, did you know that as soon as you make your purchase you should sign the back of each ticket immediately? History shows us how friends and family members can suddenly turn against those they love once someone comes into a windfall of cash, like winning the Powerball and other lotteries. There have even been cases that found their way to court of people arguing over the rights to a winning ticket. In order to avoid any confusion or subsequent legal trouble, sign the back of every ticket you purchase. That way if you do have Powerball winning tickets, you can prove that they belong to you.
WFAA reported a murder/suicide that took place after a man won $500 in a scratch-off ticket. Sgt. Joe Loughman of the Fort Wort police released a statement about the case.
“We received information that the suspect had won $500 on a Texas lottery scratch-off ticket and that the victim wanted half of the proceeds,” said homicide Sgt. Joe Loughman. “The suspect didn’t want to share it with her.”
If someone would commit such a violent act over $500, just imagine what could happen over Powerball winning tickets of up to $700 million. Because you never know how someone will react to winning the lottery, it is best to use wise judgment and protect yourself. Begin by singing the back of your ticket so when you present it, you will have the added confirmation that it is in fact yours.
— Star-Telegram (@startelegram) March 31, 2015
As the Powerball jackpot is now at the largest in U.S. history, more people will be playing Powerball for the first time. It’s important that those new to gambling understand how to play responsibly, how to handle their tickets in a safe and responsible manner, and should they win, understand the best way to budget their money. Those with winning Powerball tickets should look into hiring an accountant, a financial planner or advisor, and speak with a lawyer. Taxes will need to be paid immediately, but there will be other issues that will arise and many people are in unfamiliar territory when they suddenly strike it rich.
— Nathan O’Neal (@NateNews3LV) January 7, 2016
The Powerball official website doesn’t just provide information such as winning numbers and tickets, but also helps provide advice to those who play Powerball and the lottery so they do so in a responsible manner. You should never play any lottery or sweepstakes with money you can’t afford to lose. You should set aside entertainment money that is separate from your bills and necessities and only play with that money. As Powerball is a multi-state game, you should also familiarize yourself with your state’s rules should you purchase Powerball winning tickets. Determine beforehand if you were a Powerball winner, whether you would want to remain anonymous or not.
Play Responsibly With High Powerball Jackpots Coming up at Ten: Hear from the Nebraska Lottery. https://t.co/D3DMg3Kk8D
— Nicole Griffin (@NicoleGriffinTV) January 3, 2016
When you purchase winning Powerball tickets, you have a lot to consider. From signing your ticket to ensure it can’t be cashed in without your identification to determining whether you can remain anonymous, there is a lot that must be considered when playing the lottery. Some states will not allow Powerball winners to remain secret and they make their identity a matter of public record. You might find that speaking with a lawyer about your options is the best way to get the information needed to make a well-informed decision.
Lottery financial advisor Robert Pagliarini from Pacifica Wealth Advisors appeared on Katie and shared tips regarding those who play the lottery and win. He also discussed setting rules for people who pool their money and buy lottery tickets together. He suggested that those who are playing in a pool photocopy their tickets to show that they did purchase them together. He also suggested that those who do win the lottery, such as those who purchase winning Powerball tickets, spend only 10 percent of their winnings.
You may see the interview with Robert Pagliarini in the video player below.
Read more about the Powerball in the articles below and find out what time the Powerball drawing begins.
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