The Psychology of Winning the Lottery Jackpot
When the jackpot gets high, lotteries put up billboards and do everything they can to grab the public’s attention. But winning the lottery is more than just gambling, and it requires a combination of strategy, luck and good financial management.
The big question is what to do with the money once you win, and many past winners serve as cautionary tales. It’s important to have a crack team of helpers to manage the money, including lawyers, accountants and investment advisors. But there’s one piece that can’t be outsourced: the psychology of sudden wealth.
Lottery prizes are public information in most states, but it is possible to remain anonymous. If you win more than $100,000 in Colorado, Maryland, New York, and South Dakota, you can keep your name private. However, you must reveal your city and state if you win less than $100,000 in other states.
While the odds of winning are slim, the lottery is an equal opportunity game, no matter who you are or where you live. It doesn’t care if you are black, white, rich, poor, skinny, or fat. If you select the right numbers, you are a winner. But be careful not to let euphoria cloud your judgment and don’t show off your winnings – that’ll only make others jealous and turn them against you. It is also a good idea to diversify your number choices, because the probability of success diminishes when you stick with patterns.