When To Collect Your Jackpot Winnings

Beginner Thinking

Many scratch card players start out with a lot of wrong ideas because they haven’t had the experience of winning a big jackpot yet and their thoughts become even more muddled when faced with the excitement of their first big payout. For example, collecting a jackpot immediately may actually not be in your own best interest!

Winning Tip

Scratch gaming sites state all of their rules quite clearly on their terms of service pages and offer plenty of gamer support if you contact them. One of the key items of information to know is the expiration period for any winnings. In many cases that can be 30, 60, 90 days or more. Obviously the most important thing is to always collect your winnings before they expire. However, if you are near the end of the year for example, you might want to delay your collection by a few days or even weeks to push any tax liability in your local area forward into a future year. Deferring taxes is another way to increase the true value of your jackpots. We recommend consulting with a trained tax professional prior to collecting any amount larger than 10,000 to make sure you are able to keep the maximum percentage of your new found money!

Summary

Timing is everything. It affects your luck when playing, and your taxes after you win. Be sure to think clearly even after you win a large amount of money. Take a deep breath, relax and maximize your jackpot payouts from scratch card gaming by following this professional player advice. It’s already your money, but collecting it correctly is just as important as any other part of winning it!

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