Winning a jackpot is 1 in 175,000,000; the odd is sixty thousand times less than struck by thunder. Gambling cannot be a profession but take a moment believing the daydream of winning a hundred million has come true. Then take a breath and seek professional advice from financial experts and former winners. Many players dream of winning a progressive jackpot from pg slot (สล็อต pg), but there are different procurers to claim your prize and taxation according to the country where you reside. There is a difference between UK and US lotteries and jackpots. The main difference lies in the taxation policy, prize size, and procedure to claim the prize money.
Taxation policy
Apart from the odds of winning a jackpot, the deduction at source varies. The pot size in the US is much larger than that of the UK. A progressive jackpot can reach up to $300 million in the US, but it usually ceases around Pound50 million in the UK. Another critical difference is British citizens do not pay taxes on windfall gains like lottery or jackpots. Lottery winning is not subjected to taxation by British law.
The US citizens are not that fortunate; the jackpot prizes are subjected to taxation. If you reside in the US and win a jackpot, you have to pay a proportion of the winning prize as government revenue. You have the liberty to reveal your identity or not after winning a jackpot in the UK, but not the same for US people. So many winners try to mask their identity in the US for their own good. In the UK, the winner gets the prize amount in one payment. But in the US, you can opt for one lump sum or annual annuity.
Maintain the inner Zen
If you go for one lump sum, around 60% of the prize money is credited to the account. If you fear that extravagance will ruin your financial planning, then annuity payment is the preferred option. Long-term financial planning needs wisdom and moderation. Millions of dollars cannot buy time so that you will remain mortal. Chalk out an economic term with advisors, including real estate and testament. Spread the wealth to multiple accounts; setting all the eggs in one basket is not a good idea. Nominate your family members in the bank account, so they can handle it easily if something happens to you.
After getting a six or seven-figure payout, you could become restless with ecstasy, but maintaining the inner Zen is necessary. Seat quiet and do nothing for a while; in a spur of the moment, you can buy a flashy princely car, luxurious house, invest in the stock market without planning or donate a significant amount to your favorite charitable trust. A hasty action after a financial windfall mostly brings anarchy. Plan steadily slowly with professional help before investing a considerable amount; it might take weeks or months.
Some winners impulsively quit jobs or take life-changing decisions hastily. Some certified financial planners recommend not spending more than 10% of the prize money in the first twelve months. Wearing a financial ironclad jacket is a bad idea; enjoy within a limit use 5% or so for a vacation with your loved one because you live only once.
