Lotto guide: Have you won the lottery? That’s a problem

Winning the lottery sounds like the ultimate way out. There are only six correct numbers and the super number between a perfect life of luxury and hard work until old age. The probability is mathematically 1 in 140 million, but as soon as the lottery ticket is handed in, many people start planning in their heads what they could do with the winnings. Most of the time the thoughts are for nothing – but in very rare cases it does work. And now?

First, the simple question: How does the money get into the account? The lottery sales point pays out smaller winnings. Larger amounts come via bank transfer or crossed check. Payment must be requested here using a form. If the sum is really large, the state lottery companies will provide an advisor. These people know what to do. However, many mistakes may have already occurred by this point.

To avoid this, it helps to take a look at the fate of lottery winners who did not stick to the golden rules. Like the Dortmund lottery millionaire Kürsat Yildirim alias Chico. The whole country now knows about his wealth because he voluntarily shared it with the public. Recently he was even attacked.

Chico seems to enjoy his status and notoriety. But attacks and accidents involving supposedly carefree people are actually not uncommon. Because of high profits, many people have already died, become impoverished or lost everything. (Like Chico, they won millions in the lottery – then the nightmare began)

So what to do? The most important thing that should happen immediately after a win is… nothing. Absolutely nothing. Most importantly, no one should know about it. If your best friend or family is called immediately, perhaps your biggest trump card has already been lost. This is of course complicated with betting pools – a binding contract with relevant clauses should be signed before you win.

Good planning is now required. First, wait for the money and follow the lottery company’s instructions. If you can make it to the aforementioned advisor without half the world knowing about your wealth, a lot has already been achieved.

If the profit is significantly above the state deposit guarantee of 100,000 euros, it is also advisable to quickly start opening an account at different banks. In the worst case scenario, having multiple accounts at one bank will not benefit you. The security limit applies per customer and bank, not per account. This can be found at .

Be prepared that bank advisors will want to convince you of numerous great investment opportunities once the money has been received. Decline politely. Experience shows that actively managed funds in particular primarily help the bank – and reduce your returns.

If the time comes to invest the money, seek independent advice. The experts at the lottery companies will probably help you with suitable addresses, initial clues are provided by “”. It is important that you – and this also applies to all non-lottery millionaires – do not put everything on one card. Diversify your investments with as broad a portfolio as possible, such as stocks, real estate, private equity, fixed-term deposits, possibly cryptocurrencies and commodities such as gold.

Now some advice for generous winners who want to share their happiness: Decide how much money you want to give to family and friends. It is best to work with an independent advisor, such as a notary or a lawyer. Have the donation managed and paid out by the outside person. By engaging an independent body, you can always point out that your hands are tied or the money has been invested elsewhere.

By the way: Unlike the lottery winnings themselves, which are tax-free in Germany, gifts are not, knows “”. For spouses the limit is 500,000 euros, for children and stepchildren it is 400,000 euros, grandchildren and great-grandchildren are allowed to collect 200,000 euros tax-free and everyone else only 20,000 euros. The allowance is available every ten years. It is therefore better not to distribute cash or buy goods for others. In this regard, “” warns urgently about possible oversights.

Only when these things have been taken care of and you have built up a safety net for yourself through a broad portfolio and possible fixed-term deposits that you won’t be able to access for years can the party begin. Buy the dream car, buy a house, go on a week-long luxury vacation. But if someone asks where the money comes from – lie that the beams are bending. Inheritance, credit, savings: Most of the answers are better than giving up a lottery win.

Gambling can be addictive. Participation in the game is permitted from 18 years of age. If gambling behavior can no longer be controlled, thoughts only revolve around gambling or if more money is lost than is available, these can be the first signs of problematic gambling behavior. Gamblers and relatives can receive support from the Federal Center for Health Education (BZgA) telephone advice on gambling addiction on the free number 0800 137 27 00 and on: