Oz Lotto Draw 1494: What happens if you win the $150 million Division One prize
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Oz Lotto has skyrocketed to a whopping $50million on Tuesday with one-in-six Australian adults expected to buy an entry into the draw.
The last time the Oz Lotto jackpot was this huge was eight months ago in January 2022, and it’s the largest prize offered by an Australian lottery game this financial year.
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So, what happens if you’re lucky enough to hit the jackpot with Oz Lotto 1494 and scoop the entire prize making you an instant multi-millionaire?
What happens when you win Division One?
Firstly, division one and two winners with a registered account will get a personal call from the company delivering the good news.
The Lott spokesperson Anna Hobdell said: “If we have a division one winner tomorrow night, we’ll be wanting to let them know straight after the draw. They may not need to head into work on Wednesday morning, or ever again!”
Winners who do not have a registered account will need to visit a lottery ticket sales outlet, such as newsagent, or one of The Lott’s offices to claim their prize.
“We encourage customers to ... register their entries to a player card or online account so we can contact them directly after the draw, potentially with some staggering news,” Hobdell said.
Hang onto your ticket, you’ll need it to complete the Prize Claim Form, and keep copies of both the form and your original ticket(s) for your own records.
The winning entries are then verified before the winners receive a guide detailing exactly how to claim the cash, as well as expert advice on how to handle their new fortune.
The Lott also advises that winners also seek expert financial advice as earnings on winnings could have tax implications, even though Australian lottery winnings are tax-free, which means you’ll receive every cent.
When and how do I get the cash from Oz Lotto?
Small wins can be cashed out almost immediately after a draw, but division one winners need to wait two weeks before their prize is deposited into a nominated bank account.
The Lott says you can use this time “to plan what you’re going to do with your life-changing prize”.
If you purchased your ticket on The Lott app, the prize money will be deposited directly into your online lottery account after two weeks.
For entries purchased in-store, prize money can be paid by cheque or EFTPOS in person at The Lott’s head office, or by post using the Prize Claim Form. A two-week provisional period must still elapse before the payment can be made.
Prize payments are generally processed and paid within 10 working days of receipt of the Prize Claim Form by SA Lotteries.
