Five Things to Consider if You Win the EuroMillions Jackpot
Last Updated: Tuesday 26th September 2017, 12:32 pm
With a EuroMillions jackpot of £142 million on the horizon, lotto lovers across the world are preparing to play for what could be a life-changing sum of money. Sure, everyone can dream about how a colossal sum of money would alter their entire existence, but what if you actually won the jackpot?
It may be an experience that you have prepared yourself for draw after draw, but once those results are in and you’re sat staring at your winning playslip, what next? Where do you go from here? Well, don’t worry as this five step guide will walk you through your transition from lottery hopeful to EuroMillions winner.
1. Go Public or Stay Anonymous?
One of the hardest decisions you will face upon winning the jackpot is whether to go public or remain anonymous. Both options have their pros and cons, but choosing the right path for you is certainly worth some consideration.
According to the National Lottery’s Senior Winners’ advisor Andy Carter, less than 15 percent of all UK lottery winners opt to meet the media following a win of over £50,000. While that could be considered incredibly strong evidence of just how reserved a vast majority of the British public is, it is more likely that seeing how the press pursue some lottery winners has put many people off ticking the box marked ‘publicity’.
Of course, there is nothing wrong with going public and sharing your news with those around the world. You certainly won’t need to keep quiet or lie to your nearest and dearest about how you are suddenly going out a lot more or snapping up new properties and fresh cars left, right and centre. There is also the added bonus of potentially becoming a household name, alongside the likes of the Weirs, the Bayfords or even the nation’s youngest ever EuroMillions winner Jane Park. Ideal if you enjoy basking in the limelight or fancy a fling with fame.
However, Carter’s team are also on hand to support those who aren’t as keen to embrace the media circus. “If people want to share their news, we will support that. But it’s also important that we respect our winners’ anonymity if that’s what they want.” So, whatever you decide, be sure that there will be help and guidance available at every turn.
2. Ease Yourself in Gently
Once you have the money in your bank account, it can be tempting to quit your job straight away, especially if it’s less of a career and more a way of just making ends meet. In a recent survey of EuroMillions players, more than 23 percent admitted that they would end their working days and retire without thinking twice about it. While that’s a completely understandable approach, it might not be the most rewarding in the long run.
Depending on your age, jacking in your job could result in you having a lot of spare time on your hands. You wouldn’t be able to socialise with your friends and colleagues on a daily basis, unless you’re planning on treating everyone in your life to a couple of million apiece so they too could retire.
Naturally, there may be some people out there who really wouldn’t care about how they cut their ties with their employment, which is fair enough, but try to leave in a respectable manner; after all, your boss was good enough to employ you in the first place.
However, there are other options when it comes to living your post-jackpot life. You could use your newfound wealth to pursue your dream career or even set up a business of your own. There may even be the opportunity of going part-time in order to enjoy your wealth, but still maintain social ties with the outside world.
3. First Purchases
Checking your bank balance after a EuroMillions win may be a little surreal, but try to keep your cool. Your first instinct might be to splash the cash on a plethora of must-have products or buy a fleet of flashy cars, but remember that you’re unlikely to ever see that sort of cash again.
Instead, why not take the sensible approach? Use your money to pay off any outstanding debts, including your mortgage, loans and credit card bills. Once your finances are in order, create a list of initial purchases you would like to make with your money. Almost half of EuroMillions players would plump for a new house as their first purchase, while one in 11 would buy themselves a new set of wheels.
It is important to keep things sensible. While it might be tempting to earmark a private island in the middle of the Pacific as your dream first buy, that is a lot of your money blown in one moment of spontaneity. By remaining down-to-earth, you will appreciate you money a lot more than if you immediately hit the shops for an unprecedented spending spree.
4. Get Away to Clear Your Head
Once you are over the initial shock of becoming a EuroMillions millionaire, it is worth taking some time to relax and think about where you’d like to go from here. Whether you have gone public or remained private, one of the best ways to escape the speculation surrounding your win is to jet off around the world.
However, with so many countries to choose from your decision might be tricky. Almost a quarter of all jackpot hopefuls said they would favour a getaway to the Caribbean, while 23 percent would head slightly further north to the US. Better yet, surprise yourself by grabbing yourself a globe and giving it a good spin.
This is your chance to enjoy the holiday of your dreams and create some everlasting memories, so make your decision count. Take in the sights and sounds on a city break or book yourself in for a fortnight of spa treatments at a breath-taking rural retreat. However you choose to spend your break, appreciate every second, and who knows, you could return with a better idea of how you’d like to spend your winnings.
5. Be Happy
Yes, landing a EuroMillions jackpot may spark scenes of wild celebration at first, but remember that you are one of a select group of people that can say that they have won a nine-figure lottery prize. Use your money to live out your days in a way that fits your personality and allows you to be happy.
It is often said that money can’t buy you happiness, but it’s your job to prove the doubters wrong. While buying material goods might seem like the route to instant satisfaction, investing your money in experiences might be a more advisable route to take.
This is supported by Thomas Gilovich, a professor of psychology at Cornell University, who believes that the happiness of purchasing items over experiences can be rewarding at first, but that delight soon dwindles. Backed by two decades of research, Gilovich strongly supports the theory that the happiness of spending money of unique experiences will last much longer than that that emanates from buying physical objects.
This is because social activities help us to become more well-rounded human beings with the ability to captivate others with interesting stories and talking points from our lives. Gilovich even maintains that bad experiences can be looked bad on fondly over the course of time.
At the end of the day, it’s your money and if packing your luxury pad with the latest gadgets and addressing your fashion fix makes you happy, no one can argue with you. After all, in the words of American actress Bo Derek: "Whoever said money can't buy happiness simply didn't know where to go shopping".
Picking Your EuroMillions Numbers
Jackpots like this don’t come along every week, so whether you take part online or through an authorised retailer, don’t miss out on securing the biggest EuroMillions prize of 2017.
For those who would like to join in the fun online, there are a number of options to choose from. Lottery concierge services such as theLotter offer you the chance to enjoy EuroMillions from anywhere in the world. Simply register an account, pick your numbers and pay for your entry. Once you’ve completed these three steps, a representative will email you a copy of your ticket.
Alternatively, you may favour the Jackpot.com approach of joining a syndicate.
The old adage of ‘you’ve got to be in it to win it’ has never been more apt, so pick your numbers ahead of tonight’s deadline! Good luck!