How Do Lottery Winners Get Paid & What Happens If You Win Big?

Have you ever wondered how lottery winners get paid and what happens if you win big?

If you want to find out the answers to some of these frequently asked lottery questions, continue reading this King Casino blog post!

How Do Lottery Winners Get Paid? 

If you win on the National Lottery in the UK, you are paid differently depending on how much you win!

For instance, if you win a prize of up to £500 on the lottery, your win can be paid into your National Lottery account soon after the draw has ended. Simply log in to your account to see your winnings. You can then withdraw your prize, which can be paid into the bank account you used to purchase your ticket.

Wins between £500.01 and £30,000 must be claimed within 180 days, starting from the day the draw took place. Once you have claimed your win and confirmed the card associated with your account, the prize can be transferred to your original payment card.

Larger prizes between £30,000.01 and £50,000 also must be claimed within 180 days. These prizes are claimed differently as they must be collected in person. Once you have informed them of your win, a member of The National Lottery team will validate your win and arrange a meeting where you can claim your prize and receive a cheque.

But what if you win more than £50,000?

If you have a winning lottery ticket worth £50,000+, you first want to contact the National Lottery. This prize must also be collected in person.

What Happens If You Win Big On The Lottery? 

Although it is rare to win the lottery, it can and does happen!

If you do win big on the lottery and win a prize worth £50,000+ here are the steps you must follow:

1. Check your numbers – and check again!
2. Once you have checked you have the winning numbers, call the number on the back of your lottery ticket to get in touch with Camelot. You have 180 days from the day of the draw to claim your lottery win.
3. A meeting with an advisor will then be arranged where your win will be validated and proof of ID shown.
4. Once everything has been officially confirmed, the money can go into your account.
5. Next, you must decide whether to keep your win private or go public. The National Lottery advisors can help you make an informed decision on this.
6. Now for the fun part! You get to spend your winnings however you would like. Perhaps you would like a well-earned holiday, a new house or car. The National Lottery’s team of advisors are always there to help winners with financial and legal advice and general support.

How Does The National Lottery Notify Winners?

If you buy lottery tickets online or via The National Lottery app, you will be informed of your win with an email. If you bought your entry ticket from your National Lottery account then, you will receive a notification the next time you log in.

The winning email from The National Lottery reads as follows:

Subject: News about your ticket

Email: “GOOD NEWS

You’ve won a prize on The National Lottery

You’ve won a prize playing one of our draw games on (date). Sign in to your account to find out more.

National Lottery Customer Care Team”

To check if this email is legitimate, sign in to your National Lottery account. You should see a notification next to your profile informing you of your win. If you click this, you can see how much you have won and can follow the required steps to claim your win.

How Quickly Are Winners Notified?

If you are a player with a winning lottery ticket, you will be notified relatively soon after the lottery draw. 

The National Lottery Lotto draws occur every Wednesday and Saturday at 8 pm and 7:45 pm, respectively. All lottery draws are held in the evening. If you have won a prize on one of the draws, you should receive an email from the National Lottery within a few hours. Typically, in the early hours of the morning! You can also log in to your National Lottery account to see if you have a winning notification.

Can Lottery Winners Remain Anonymous? 

If you win a significant prize with The National Lottery, one of the first decisions you must make is whether to remain anonymous or go public with your win. 

This is a decision you will want to make carefully, and to help, you can receive advice on both options from your National Lottery advisor. Your advisor should help you weigh the pros and cons of staying anonymous vs going public.

There are many reasons why winners may choose to stay anonymous with their prize win. Some of those reasons include wanting to refrain from potentially receiving letters asking for money or unwanted press attention. Some of the reasons winners choose to go public are because the secret could be hard to keep, they want to help friends and family financially, or they want to share their stories.

How Long Does It Take To Receive Lottery Winnings? 

How long it takes to receive lottery winnings depends on how much you win. Small prizes of under £500 can automatically be paid into your National Lottery account.

For larger prizes, you must make a claim for your win. You have 180 days from the winning draw date to contact Camelot and make your claim. Depending on how much you win, the money will be transferred directly into your account, or a meeting will be set up with an advisor who will confirm your win. 

Do You Get The Full Amount When You Win The Lottery? 

You can receive the full amount for UK lottery games if you win the lottery. You cannot claim your win in instalments; it will usually be paid in one lump sum. The only exception is the Set For Life lottery, where the top prize is paid in monthly instalments of £10,000 over 30 years.