Updated

Updated · WSB Atlanta · Jul 3

Georgia Lottery Awards 2 $1 Million Scratch-Off Wins as Fantasy 5 Pays $1.87 Million

Updated

Updated · WSB Atlanta · Jul 3

Georgia Lottery Awards 2 $1 Million Scratch-Off Wins as Fantasy 5 Pays $1.87 Million

Q: With 70% of lottery winners going broke, what is the one crucial move that can save a new millionaire?

The most important move is to slow down and hire a professional advisory team before claiming the money or making any big decisions. That means bringing in a fee-only fiduciary attorney, a CPA and a certified financial planner. Experts consistently point to this step because many winners fail not from lack of money, but from bad early decisions: going public too fast, overspending, lending heavily to relatives and friends, or mishandling taxes. Research cited in lottery coverage shows about 70% of major winners eventually go broke, with many exhausting their money within five years. For Georgia winners, the stakes are especially high because lottery prizes are taxed as ordinary income at both the federal and state level. A professional team can calculate the real after-tax value, help decide between a lump sum and an annuity, and set up quarterly tax payments so the winner does not get hit with a surprise bill. An attorney can also advise whether to claim through a trust or other legal structure to improve privacy and asset protection where allowed. The practical benefit is simple: it creates a pause between winning and spending. That pause helps protect the ticket, protect the winner’s identity, and build a long-term plan for budgeting, investing and family requests. In short, the best safeguard for a new millionaire is not a purchase or a payout choice alone. It is getting expert legal, tax and financial advice before touching the prize.

3 articles · Updated · WSB Atlanta · Jul 3

$1 million scratch-off prizes went to players in Fayetteville and Jasper, with the winning tickets claimed on June 22 and June 23.
The Fayetteville winner bought a 50X The Money ticket at Publix on Glynn Street, while the Jasper winner bought Millionaire Maker at Amoco West Market on Highway 53 West.
Fantasy 5 added $1.87 million in June jackpots, led by a $539,327 Decatur win on June 15 and a $515,729 Atlanta win on June 21.
Quick Win and digital games also produced large payouts, including $243,516 in Pooler and a $598,244 Money Strike Jackpots win in Covington.
Georgia Lottery said June also brought five $50,000 Powerball winners statewide, with the next Powerball jackpot estimated at $396 million.