A LUCKY lottery player is now getting $1,000 a week for life after hitting a big win on a scratch card game in Florida.
Frank O’Dell, who lives in Hernando, Fla., took home the grand prize of the $1,000 A WEEK FOR LIFE game after purchasing a ticket at a Circle K in Lecanto.
“I’ve never been very lucky,” Frank told the Florida Lottery. “But I think it’s safe to say my luck has finally changed and I’m now prepared for life.”
After finding out he was the award winner, he decided to take home the $930,000 lump sum instead of the recurring payments.
If Frank had opted to take the annual lottery installments instead, he would have seen more money over time.
However, choosing between a lump sum or recurring payments is one of the most difficult decisions lottery winners have to make.
You can either gain access to a large amount of cash right away, or you can secure a steady stream of cash over the years and end up receiving the full prize amount.
The $1,000 A WEEK FOR LIFE scratch game offers players a chance to win over $54.5 million in prizes.
Each game ticket is only $2 and there are eight grand prizes.
The odds of winning A WEEK FOR LIFE are one in 4.43.
Remember that playing the lottery involves risk and you should only buy a ticket if you can afford it.
INCREASE YOUR CHANCES OF WIN
Winning the lottery is all about luck in the draw, but there are a few strategies players have recommended in the past.
For one, you can statistically increase your chances of winning by joining a lottery syndicate.
These allow you and a group of people to purchase multiple tickets, assuming you share the price.
A Florida math professor also suggests using a truly random number pick to increase your odds.
Richard Lustig, who has won over $1 million from seven Florida jackpots, suggests using the same numbers over and over as it could improve your odds.
He also advised lottery ticket buyers to refrain from using special birthday or anniversary numbers, as these are rarely significant in a game.
Keep in mind that there is no surefire way to win the lottery and that all forms of gambling involve risk.
Only gamble if you can afford it.
HOW TO PROTECT YOURSELF WHEN YOU WIN
Financial experts warn lottery winners to take several precautions after winning big.
With so many eyes on you, you need to protect yourself and your newfound fortune from outside influences.
The US Sun reported on the advice of a “lottery lawyer” who wants to help others protect their earnings.
Kurt Panouses told the local ABC affiliate, based in Milwaukee WISN He has advised over 30 winners on the key steps they should take.
“You don’t go back to your little hometown and tear down your house and build a big mansion,” Panouses said.
Panouses said groups like the New York jackpot winners are better off with their privacy than other winners.
“Why don’t you have the court order say, ‘Hey, we also want this to provide some privacy and get a judge to give you a court order,'” he said.
He also urged winners not to deposit money with small, local banks.
“This is not the time to go to your local credit union, which you’ve used all your life, and open an account there.”
Another lottery player won $2 million, but a small decision left him with only $1.7 million in his pockets.
Meanwhile, a businessman gave chilling advice to fellow lottery winners after winning his own jackpot led to his own bankruptcy.