What Happens When You Win The Lottery?

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The chances of winning the lottery are one in 175 million. So how does the lottery work and what should you do if you win?

Learn More:
Lottery Funds At Work
http://www.calottery.com/giving-back/education/lottery-funds-at-work
“Recognized as one of the fastest growing lotteries in the United States, the California Lottery saw its sales rise by 13% in Fiscal Year 2013-14.”

Think you have shot at $425 million Mega Millions pot? Then beware asteroids
http://www.cnn.com/2013/12/13/us/mega-millions-jackpot/
“It used to be a long shot, but now … is there a word for insanely more unlikely than a long shot?”

How Much Tax Will You Owe On A $500 Million Powerball Jackpot? A Lot More Than In 2012
http://www.forbes.com/sites/janetnovack/2013/03/23/tax-on-320-million-powerball-jackpot-millions-more-than-in-2012/
“The good news: You are about to win a $500 million Powerball Jackpot. The bad news: You’ll owe millions more in tax than you would have had you won the same pot in 2012.”

The Morning After: Tax Planning for Lottery Winners
http://www.williamsmullen.com/news/morning-after-tax-planning-lottery-winners
“In a past issue of the Journal of Taxation, Farhad Aghdami wrote an article titled, ‘The Morning After: Tax Planning for Lottery Winners.'”

Watch More:
The Downfall Of America’s Greatest Treasure Hunter
https://www.youtube.com/watch?v=9nR0AD-hUZA

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