When the Lottery started up in UK… many years ago now… we idly discussed what we would do if we had a big win…
Over the years, the list of those we would help… grew longer and longer. Most of them have got through their difficulties without our help (thankfully, 'cos we didn’t win)
but seeing this today… I’m wondering afresh…
What you would do with such a windfall…
The simple answer to that question is I never will. As they say you have to be in it to win it and I have never bought a lottery ticket. Mind you if I was given millions my wish list would be to ‘upgrade’ my current activities which include financially supporting my adult children from time to time.
Easy - pay off all debt, buy all the kids a house, no doubt give my wayward BIL enough money to clear his debts and then set up trusts for nieces and nephews. Once that’s all done we can plan the rest of our lives.
Where does tax come in all this, if I was to win the UK lottery would we have to pay tax and to whom?
Lottery wins are exempt from tax…which I don’t understand as premium bonds wins aren’t. And gambling at casinos only exempt up to 1500€. But if you give money or buy houses for friends and family that will be taxed, and if you buy too many houses in your name you’ll prob also pay annual wealth tax. And then, if you haven’t spent it all and invest it, then you will of course pay on the income it earns…
But if you give it to charity you will get a tax rebate.
I think there is something in the T&C which stops/impedes folk abroad from gaining Winnings from the UK lottery… it was well publicized a few years back… 
Yes, friends and family … nice to be able to help.
Always intending to remain anonymous, one idea we had was to set up a charitable trust which paid hospital bills etc for kids/whoever… worldwide.
only vague thoughts… so many good causes…
who knows what one would do if the money actually lands in your lap.
You could do a great deal of good for the less fortunate on the planet with £70+ millions after making your loved ones comfortable.
Making the right spending choices would be the headache - there so many very worthy causes.
I fail to understand those who sit on huge fortunes.
Sadly the evidence is that many who scoop jackpots on the lottery do not become terribly happy.
Part of the problem is that it is incredibly easy to spend a couple of million £ or € and people who are habituated to spending what they have out of necessity and not saving as they do not have “spare cash” to put aside, do not always transition well to financial planning (this is why the responsible lottery operators provide advice but not everyone takes it).
When you are on minimum wage £1 million seems inexhaustible but without some financial nous it can quickly disappear (especially if people overstretch themselves).
That said 70+ million is a different ball game as it is difficult (though not, I suspect, impossible) to fritter away.
Personally I’d like enough to retire, move to France and have an apartment in Florence (which both my wife and I love) a couple of fast cars and potter around with my hobbies - and maybe acquire some new ones. A couple of million should do it if anyone is feeling generous 
Am I the only person here that thinks that all forms of gambling are harmful?
We are talking about a vast industry that creates nothing of use, but simply takes money (primarily from the poor) and redistributes some of it in an entirely random way to people whose lives will be changed, but will rarely be happier as a result.
The justification that a national lottery benefits charities is just a ploy to catch people who would never cross the threshold of a betting shop.
Saves the government having to support causes that should be their responsibility. A voluntary tax on the poor.
We would love to have enough to remodel our house and sufficient to buy help to enable us to stay in our home in Trivy.
A friend of mine described the lottery as “a tax on the stupid”. Although I occasionally buy tickets (it is a reliable indicator of my mood - depressed=more ticket purchases) I think he is broadly correct.
You are not the only one. I also see the Lottery as gambling and as that’s not in my nature I have never had a wish to take part. I know people who regularly spend £10 or more a week claiming that it’s only loose change. It still adds up to quite a lot over the years. Nobody I know has ever won any significant amount from a lottery or any of their spin offs. It is as has already been pointed out a tax on the dreamers.
it’s interesting that this is turning into a discussion on the views of gambling.
personally, I don’t gamble to any great extent… having started earning at the age of 10 (paper round and working weekends in the shop)… I guard my money very carefully.
However… in UK Lottery we had just the one line … a much needed “bright light of possibility” in our very dark world (at that time)…
and here in France… one line on Friday… is our limit.
Yes, I’ve seen folk who spend a great deal… on nothing.
Drinks in the pub… cigarettes… horses… football pools… the list can go on and on… all money down the drain in one way or another… 
On the other hand… nothing wrong with the occasional drink with friends… etc etc
I walked into our local Presse… and after the usual smiling hellos… I said cheerfully… “I’ve won” and waved my ticket … Wow… let’s see. OK it might have only been 3 or 4 € but it gave me enormous pleasure… and the other customers as well… 
. . . and that is the case for many people, but there are many others for whom it is a terrible addiction that destroys relationships and lives.
And I take issue with the (impartial) BBC for going along with the government im publicising this activity in a way they wouldn’t do with booze or fags.
But maybe I am just a miserable old killjoy!
Possibly…Do you ever drink alcohol? Alcoholism is a dreadful disease, and ruins lives and families as well as killing people. But easily available at a modest price nearly everywhere. It is no more necessary than buying a lottery ticket. And some of the lottery activities are great for community spirit and bring people together. So modest gambling is ok in my book, but I would cap the wins at a much lower figure. More wins of £100,000 would do a lot more families a lot more good than the big jackpots.
I’d go for more long(er) term payouts as well - the only game I play regularly these days is the one where the jackpot is £10k a month for 30 years.
Of course I do wonder whether Camelot will last that long…
OK in your book sums up the situation. For most people it’s a personal choice that will never lead to an addiction, my personal choice is to avoid it completely. It’s probably why I went through my life without taking huge risks for financial reward. I went for the good, steady job with reasonable security and a pension. I know there are people who would see that as deadly dull but it’s done me fine. I often smile looking at people’s wish lists for when they win the lottery as often their dream is already my reality if only in a modest way.
I’m with you there 100%… could have done much more with my professional life had I wished to take a chance when it was offered. No regrets. I like to have stability… and am very happy with my life then and now.
I’m still on good terms with the person who offered me “the chance of a lifetime”… so, for me that’s a win-win situation. 
Regularly, but a couple of glasses are enough to send me to sleep, so there is very little chance of becoming addicted.
But I did fight a 15 year battle with tobacco, so I have sympathy with people who are victims of any kind of addiction.
Totally agree Michael.
If I cannot sleep I think about spending a lottery jackpot (rarely buy a ticket) so many side problems arise, I soon fall asleep 