£121 Million EuroMillions Prize Has Been Claimed

£121 Million EuroMillions Prize Has Been Claimed

The UK winner of Tuesday’s enormous £121 million EuroMillions jackpot has now come forward to claim their prize. It is the third-biggest ever jackpot won by a UK player and the tenth-biggest ever won in the EuroMillions lottery. It followed a Superdraw on Friday 20th April that offered a jackpot of £133 million, which was not won, so rolled over to the next draw.

 

Winner Chooses to Remain Anonymous

The winning ticket from Tuesday’s draw has now been validated by UK lottery providers Camelot and the jackpot prize has been paid out. The lucky winner has chosen to remain anonymous rather than go public with their identity. Camelot have not disclosed any details about where the ticket was purchased or whether it was an individual or a syndicate that walked away with the prize.

National Lottery spokesperson Andy Carter said: "What a win. This ticket-holder has flown into third place on the National Lottery Rich List and can now afford to fly away anywhere they like. We will now look to support the winner as they take the first steps to enjoy this incredible win."

UK lottery winnings are not subject to taxation, so the lucky jackpot winner will bank the full jackpot amount. However, if the money passes into the winner’s estate, it will be subject to inheritance tax when it is passed on, and any interest that the prize money accrues is still taxed. Finally, if the winner decides to gift money to friends and family, it may also be subject to a gift tax.

Is There Any Benefit to Going Public?

Two previous UK winners of EuroMillions Superdraw jackpots did go public with their wins. Angela and Dave Dawes won £101 million in a Superdraw in October 2011, while Neil Trotter went public with his £107 million win in March 2014.

The National Lottery have previously stated that the number of lottery winners who go public is as low as 15 percent. So why do most winners decide to remain anonymous, and what are the benefits of disclosing your identity in the even of a jackpot win?

From an immediate financial perspective, it makes no difference to lottery winners whether they choose to remain anonymous or go public. There is no financial incentive for disclosing your identity after a win, as the prize awarded by the National Lottery stays the same. Similarly, the UK National Lottery commits to supporting new multi-millionaires regardless of whether they choose to go public or remain anonymous.

Those who do choose to go public might find that it takes a lot of pressure off their shoulders, as it means they don’t have to worry about keeping it a secret. Once the immediate media scrutiny has passed, they will be able to return to a life of (relative) normality, and they will be able to spend their time celebrating, rather than worrying about whether news of the win will spread.

Choosing publicity or anonymity is the biggest decision a lottery winner has to make immediately after a win. With the huge jackpots on offer in the EuroMillions lottery, however, it might not be too much of a distraction for winners thinking about what they’re going to do with all that money.

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Published: Friday, 27 April 2018 13:04:00+01:00
Published By Euro-Millions.com