How fast does someone get their money when the when millions from the lottery? Do you just go pick up a check or something?
2007-01-09 10:01:44 · 7 answers · asked by SDJOE 2 in Business & Finance ➔ Personal Finance
why did YOU win??? single????lol
just kidding
2007-01-09 10:15:58 · answer #1 · answered by faithfullyyours 3 · 0⤊ 1⤋
For powerball it takes about 2 weeks. They will either mail you a check or you can pick it up. A lottery financial advisor will meet with you during that 2 week period and give you a little information regarding your winnings and your obligations regarding taxes and such. After the first check, if you chose an annuity, you may opt to have future checks direct deposited. You will get a letter of winnings from the lottery commission that will enable you to apply for credit. Basically it is proof that you won and how much you won so you can party your little butt off while you wait on that first check.
2007-01-09 10:08:34 · answer #2 · answered by Anonymous · 4⤊ 1⤋
All depend. If it is won in a state lottery, they are usually annuity. So when you go there you'll get your picture taken with a check for say ten million, when in reality you get that amount spread over 20 to 26 years depending on the state. But you will get your first check within 30 days of validation of the ticket.
If it's multi-state like powerball you have to wait for all the money from each state to be pooled to your state. You could wait 3 months or so before you see it.
2007-01-09 10:13:11 · answer #3 · answered by clueless 2 · 0⤊ 3⤋
I am betting that they send you a check or directly put the money into your bank account, but i am not sure since i have never won the lottery nor do i know anyone who has.
2007-01-09 10:09:51 · answer #4 · answered by SuzyBelle04 6 · 0⤊ 0⤋
By betting on EVERY NUMBER COMBINATION there is!!! The next best thing is betting on every OTHER number combination there is... then your chances will be 50/50. Otherwise, save your money and invest it or put it in savings. You have a better chance of return on that then any lottery.
2016-03-14 03:42:36 · answer #5 · answered by Anonymous · 0⤊ 1⤋
Depends on the state for example in Illinois you have to sue the state to get your winning. Since the state took the lotto money to balance their budget. Better say allegedly. It was on the news.
2015-09-14 04:21:49 · answer #6 · answered by Me 1 · 0⤊ 0⤋
Should be pretty quick after the verify that your ticket is valid, that you are eligible for the winnings, and that all rules have been complied with. Then, I highly doubt you pick up a check. My guess is that they would transfer the funds by EFT as this is safer and more secure.
2007-01-09 10:05:49 · answer #7 · answered by Dark Helmet 2 · 2⤊ 0⤋
In Texas it took 22 days from the time I walked into the claim center and turned in my ticket to receive my first check
2007-01-09 10:12:49 · answer #8 · answered by plumbinmonkey 2 · 1⤊ 0⤋