Lottery Strategy and Information

If you’re looking for a lump sum in exchange for your lotto winning payments you need to understand the basics and follow the correct procedures to get the absolute maximum amount of cash back for your valuable payments.

1) The traditional method: Talking to multiple funders, one after one.

The need for a cash lump sum is usually born out of necessity. Bills are piling up. You need to send a child to college. You may need to cover hospital bills, or maybe a smart business investment. Whatever it may be: You need cash now. Because of this need, many lottery winners rush into the first offer they receive. This is often a big mistake. Most who hurry into a deal, lose money. To receive the best deal you need to obtain multiple quotes from multiple lottery payment buyers. It’s that simple. It’s a highly competitive industry; funders compete viciously to get business. Make them compete for you business, you need to shop around, do not take the first offer.

2) Keep it professional

If you use the traditional method of calling funding companies, while it’s important to be courteous and friendly, keep in mind that while these companies might be giving you money, they are simply put, not your friends. They are typically out to make as much money as they can on deals. They’re not usually out to find you the best rate, despite how they may present themselves. This is a fact. Any good salesman is out to build rapport with his or her prospect. They build rapport by asking about your children, by finding common interests; even talking about the current weather can work. After several phone calls it’s easy to think that these salesmen are your best friends, that they care about your circumstances. Again, most likely, they don’t. They’re professional salespeople working the tools of their trade. If you start to think of them as friends, you’re going to have a tougher time saying no to the deals they present.

Keep the negotiations professional. Don’t give them any personal details. Simply state that you’re in the exploration stage of selling your lotto payments, shopping around, obtaining quotes and that’s it. If they press for personal details, refrain.

Keep it all business.

3) Monitor Future Payments

Often funding companies will try to persuade you into selling only a portion of your lotto payments. Why? Because it’s a statistic fact that most people don’t want to sell the entire bulk of their lotto winnings. They need only a little cash. The problem is that many lotto winners in a fog of desperation don’t realize how selling part of their lotto winning affects future payment streams. When they get their next annual check they are shocked to see much it has gone down. They suddenly realize they are not making enough to sustain their current lifestyle, so they’re again forced into selling more of the lump sum. This creates a dynamic that usually leads to the lotto winner depleting all their funds over a course of time. The funders know this reality and they’ve discovered it’s much easier to buy lotto winnings in chunks than it is to go for the whole deal right up front. So think about this. Maybe it’s better to sell the full sum up front and then invest that money into better things. Maybe it isn’t. That’s for you to decide. However, if you do opt to sell it in pieces, it is critical to realize how much it will affect your future payment streams.

4) Talk to professionals

Run all contracts and deals past a good attorney and accountant. These people can save you from making huge mistakes. They can save you a lot of money. The little they cost to obtain is absolutely worth it.

5) Learn to manage your money

Often lotto winners are so overwhelmed by the fact that they have won the lottery, this blindsides them into being terrible money managers. That’s why they find themselves in the position of needing to sell all or a portion of their lottery winnings. They often go on frivolous buying sprees, purchasing consumer goods that tend to lose all value. They develop the psychology that the money is limitless. But it isn’t. I’m not saying you should treat yourself to some nice things, a vacation here and there, but don’t be a reckless spender. Protect your fortune. Read books on money management, take classes, and if you can’t learn yourself, hire a qualified money manager. Put yourself on a sensible budget that works. Be smart about your money and your money will always work for you.

6) The Preferred Method of Selling lottery winnings:

Although the aforementioned process of calling lottery buyers on the phone, one by one, does work, it can also leave you susceptible to tactics often used by salespeople. The ideal solution for selling your lottery payments has now been developed. It’s an auction platform that congregates top national lottery buyers, in one location. This platform allows lottery winners to privately list details of their winnings, and allow bids from top lottery buyers. This service also allows you to remain anonymous, and manage your bids without anyone knowing who you are. A crucial feature because if you’ve won money (possibly millions), do you really want a great deal of companies who stand to make money off of you, to know your name and address? The answer is no.