How a Jackpot Win Became a Nightmare for an Irish Father of Four

There are multiple ways to play an Irish lottery online. You can either hire a concierge service to buy tickets for you from any part of the world or you can play in syndicates to purchase group tickets which can be used to distribute the winning prize amongst all team members residing anywhere on the globe. People are interested in playing lottery through web portals due to their fancy displays and easy to use interface. Organizers spend a considerable amount of budget on digital marketing and use cutting edge technology to provide their users with great experience.

Another important reason why one should play Irish lotteries online is due to the cold climate in the region. It is often hard to come out of the comfort of your home and shovel heavy snow to reach the store and buy a printed ticket. Not only that, according to Irish laws, if a ticket is not legible, you cannot claim your prize money even if your number appears in the lucky draw.

Some of the most famous Irish lotteries include The Irish National Lottery, Euro Millions, and Lotto Plus. Although chances of winning a jackpot in these lotteries are 1 in 10 million, the prizes are of high amount and can go up to 20 Million euros. Apart from the jackpot, there are other prize distributions in the game which allow nearly 1 in every 50 candidates to win some sort of prize in the draw.

Jackpot winner from Moneymore Northern Ireland

Many candidates win different prizes in Irish lotteries every week. Some become overnight millionaires while others are able to pay their tuition fee through the lucky draw. Unfortunately, not all jackpot winners end up being so lucky after all. Such was the case for David Kevitt, who won a Euro 1.35 Million weekly draw in 2004. He was quite young at the time and did not have much idea about how to make the most out of his winnings. Without taking advise from a wealth adviser or a financial expert, David decided to invest a major chunk of his earnings into a fruit and vegetable shop.

Quite soon he started hearing comments from people walking past the store about how he was selling groceries even after becoming a millionaire. Some even suggested that he was wasting his time working at the small shop when he could do so much with his earnings. Soon enough, the young lottery winner started realizing that he was not getting enough returns from his investment. After working for nearly 15 hours a day, the shop was not even generating €1,000 per week. As the burden to generate more profits and to recoup his investments grew more, David started going into depression and suicidal thoughts started coming into his mind.

Soon enough, he started consuming alcohol and would not get out of bed or go outside to socialize with people. During one of those days, he met an aquantinces who made aggressive remarks on how he was ruining his life. Rather than taking the person’s advice, David made up his mind to kill him with his samurai sword. Finally, he got a hold of himself and realized that he needed medical attention. After seeking proper help for a couple of years, David is a stable man now. He feels fortunate to have a partner and four children. He runs a mobile coffee shop and feels satisfied with whatever he does. There is no doubt, that a jackpot win is a once in a lifetime experience and 1 in a million people get that opportunity. However, the actual challenge starts when you actually get the cash in your hand.

How to Utilize your Lottery Win

Lottery organizers from all over the world suggest that you need to have a clear plan on how you want to spend your lottery winnings. If you are careless with your prize money, you will lose your wealth in no time. Here are some recommendations on what you should do after winning the lottery:

Talk to a Financial Expert

To make the right financial plan for your lottery winnings, it is always advised that you seek an opinion from wealth advisors. Individuals who are expert in the field of financial planning can tell you a number of options to choose from to preserve your newly found wealth. You can invest your fortune in a safe deposit scheme or put it in a mutual or a hedge fund. An investment manager can also tell you about how you can mitigate your risk by diversifying your portfolio.

By a New Home

A real estate investment can help you in many ways. It can diversify your investment in different asset classes and also help you in enhancing your lifestyle. Many lottery winners buy large mansions to keep themselves away from the public eye and avoid a lot of media coverage. However, you should understand that people who move into these localities have spent much of their life working hard to earn their wealth. Hence, they might consider you as the ‘lucky’ millionaires.

Buy Gold

Gold is one of the best ways to preserve your wealth over a long period of time. During tough economic times, individuals who have access to extra cash use it to buy gold. One of the major reasons for this type of investment is that it can be converted into cash anytime at any place in the world. In some parts of the world, gold is converted into jewelry which is passed on to generations to be used by the family.

Take a break

Winning a jackpot prize in a lottery is your once in a lifetime opportunity to take time off from work and your daily routine. Many jackpot recipients use their newly found wealth to book an expensive cruise or a business class ticket to their dream destination. However, it is always recommended that you plan a budget for your trip and stick to it to avoid any unnecessary expenses.

Irish Lotteries are one of the most famous in the world due to their higher reward amounts. Winning a lottery can be a challenge itself if you do not know what to do with the earnings. Hence, it is always beneficial to have a rough idea about how you are going to spend your jackpot prizes in case you are the lucky winner in the draw.

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