Tag Archives: lottery winners

Lottery Winners and Predatory Lenders

May 3, 2018   Personal game   No comments

Lottery Winners and Predatory Lenders
We have all seen the ads on late night by predatory lenders offering cash advanced for those who have received various settlements from lawsuits and lottery winnings. Many lotteries pay out jackpots over a period of years and it is those structured agreements that are targeted by predatory lenders. Payments by these companies range from as much as 90 cents on the dollar to as little as 30 cents on the dollar. Essentially the lottery winner assigns the lottery payments to the lender for a much smaller lump sum. Many of these lenders monitor lottery winnings and lawsuit settlements and use hard sell tactics to convince the victim to take a smaller lump sum payment.

Last year a New York man won $2,000 a week for life in a $5 scratch off lottery game. John Borrel of Graniteville is being sued by a Florida company that is alleging that Borrel did not pay back $10,000 in cash received against his lottery winnings. The lawsuit filed by Encore Funding LLC seeks the original $10,000 plus 18% interest and legal fees which are likely to be considerable. The lawsuit alleges breach of contract and ‘unjust enrichment’ whatever that means. According to the court Borrel, 38, won a minimum of $2 million to be paid in $26,000 quarterly installments. The lottery payouts continue if the winner lives more than two decades.

In October Borrel entered into two separate contracts for cash advances of $5,000 each. Encore’s lawyer said the company and Borrel are working out an agreement where Encore would pay Borrel for a portion of his lottery winnings from 2018 through 2027. In return Borrel would assign the lottery payments to Encore. The agreement also requires spousal consent and Borrel had told the company he is not married.

This situation highlights the difficulties lottery winners can get themselves into by seeking large cash payments financed by a large structured lottery settlement. Any lottery winner considering a similar move should check out all the terms and conditions of any contract or they could easily find themselves involved in a complicated expensive lawsuit. Most financial experts advise lottery winners to see a legitimate financial planner and get competent advice.

When buying lottery tickets players need to consider what actions they would take if they found themselves sudden millionaires. There are plenty of scammers waiting to take advantage of big winners. A good financial planner or adviser is a must. When buying lottery tickets it is always a good idea to plan ahead.

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Play to Win The Lottery

February 27, 2018   Game skill   No comments

Do you know how lottery winners play? What are the differences in the way lottery winners play compared to the losers? Is it just because they have better luck? Obviously, lottery winners play differently from the losers. If you know the difference, you can learn and improve your playing strategy to increase the chances of you winning the lottery.

Now, how to play lottery to win? What are the must-haves?

First of all, lottery winners buy more tickets. The general rule is you must play more to win more. It is just like if you want to get fatter, you have to eat more. As simple as that. When most people may buy 5 tickets every week, the lottery winners will probably buy 30. The odd to win increases by them playing or buying more lottery tickets. Even if you could not afford to play a lot of numbers in the same week due to budget constraint, you should save the money until you can place all of them in one game. In between the games, you may just take a few lines in order to maintain the enthusiasm.

Lottery winners play regularly. They know how much they can “invest” in the lottery games without compromising the expenses that they need for their daily necessities. After that, they work out how much they can invest on each lottery game and the number of games that they can play each month. This way, they are able to make sure that they play the lottery regularly without affecting their daily life adversely.

Winners never give up. Failure and losses are inevitable in a lottery game. What winners do differently is they persist and continue playing even after they have lost some games. They do not let their losses stop them from playing and winning the next game. Winners know, lottery playing is a mentally challenging process. It takes the ability to choose the right numbers in order to win the lottery. With the right system and strategy, victory will become theirs one day.

Finally, winning the lottery is just like winning any other games in our life. Whatever we do, if we want to be good and win the game, we need to have the right attitude, mind set, not to mention the right strategy and system. Having said that, if you have all that but do not take action, nothing will happen. So, most importantly, winners take action and this is why the winners are “the winners”.

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