Casino News

Hesitation Harms Lotto MAX Jackpot Winner?

Lottery jackpots have made the past weeks a special one for many Canadian lottery enthusiasts, as the Lotto MAX and Lotto 6/49 could make the life of two ticket holders much easier. However, taking their time to claim their tickets might end up being a good thing, as Greg Davenport, a financial adviser with Chatham’s Edward Jones, believes. Every week of hesitation results in a loss of interest.

Lotto MAX is among the popular draw-based lottery offerings that have been drawing the attention of more individuals over the past couple of weeks. It reached its Main prize cap once again which automatically meant that even more individuals were ready to purchase a ticket for the upcoming draw.

Jackpots Galore

This eventually increased their chances of winning the CA$70-million jackpot up for grabs. As it could be recalled, a ticket sold in the Chatham-Kent region became eligible for the jackpot in its entirety but for the time being, there are no players claiming to be in possession of the winning ticket.

In addition to this jackpot, Lotto 6/47 was also generous to its fans, as its Main prize of CA$16,460,052.50 managed to make a connection with one ticket. The winning draw took place on April 15. Both individuals in possession of the winning tickets would have to brace with patience, as they are unable to bag their substantial prizes as of now. It could be recalled that the Ontario Lottery and Gaming Corporation shut down its prize claim center.

Ever since mid-March players are unable to bag their prizes over CA$2,000, because of the unprecedented situation around the globe, as well as in Canada. Social distancing is the recommended practice right now. The aforementioned two tickets are bound to expire next year, so the only thing preventing them from receiving their prizes is the closed prize center.

Cash Payouts

However, this hesitation eventually results in loss of interest as time progresses. It amounts to some CA$26,000 per week if we take into account the guaranteed investment certificate. Thursday saw the GIC amount to 1.95 percent. Mr. Davenport wanted to offer his expert opinion on the aforementioned loss of interest that might seem like a hit on the winner’s fortune.

Some players take their time to prepare adequately for the fortune they had won, whereas others are prevented from bagging it due to force majeure conditions. Both cases lose interest as time progresses. The financial expert made it clear that the first step for every winner should be the protection of their anonymity, as this would give them the time to prepare for changes. As of now, the Crown corporation recommends that the winners sign their tickets and have them validated.

This would guarantee them peace of mind for the upcoming weeks until they have the opportunity to bag their prize and invest it in making memories, in a new house, or the luxury vehicle they have always dreamed of. Mr. Davenport also advises its clients to begin with the first thing on their bucket list, as this is a good place to start.