You’ve actually won something – yay, nice one. Even the small ones count. 🙂
So how long does it take to get your lottery winnings?
Thankfully not too long. But it does depend on a few different things.
Let’s get into it.
How Long Does It Take To Receive Lottery Winnings
It can take up to 8 weeks to receive your winnings. If you’ve had a big win.
But small prizes can be claimed instantly and paid out in cash from a lottery retailer.
So it does depend on how much you win. It also depends on which state (or country) you live in.
As general guide though:-
| Prize | Time To Pay Out Winnings |
|---|---|
| Less than $600 | Instant – claim from a lottery retailer |
| $600 or more | Up to 8 weeks, can be a lot less |
For those larger wins you will need to complete and send (or bring in) a claim form. And from the time you submit your claim it can take as much as 8 weeks to get lotto winnings.
But it will usually be much quicker – on average it’s about 2-3 weeks. It will feel like an age for a big win – but it’s not too long really. 🙂
In some cases it can be really fast, just a few days. The Colorado Lottery for example now has an online claims process – you can upload everything they need, and be paid out in just 3 to 5 business days. No need to even visit a Lottery Claim Center.
It’s faster if the game you win is not a multi-state lottery game (e.g. Powerball or Mega Millions). The Iowa Lottery even claim same day payouts – and say for their winners “generally about 45 minutes after players walk in the door, they walk out with a check!”
How To File a Lottery Claim in Person
How soon you get lottery winnings can depend on how well prepared you are.
Don’t hang around too long though because tickets do expire. See how long do you have to claim a lottery ticket?
If you want to claim in person make sure you phone ahead first. Tell them you’re coming in and everything will go much more smoothly.
Also make sure you bring a photo based form of ID. Anything Government issued should be fine – driver’s license, passport or military ID card for example. Bring 2 if you have them. And bring something with your Social Security number on it if you can.
Oh, and don’t forget to bring your original winning lottery ticket of course. You would not be the first to forget in all the excitement. 🙂
Unless you played lottery online of course, in which case the lottery company will already have all the ticket details they need. They just need to verify your identity.
See also: Is It Better To Play Lottery Online or In-Store?
How To Prepare for a Lottery Win
Also be prepared to answer some basic questions that you may need to think about before you go to the claims center.
If it’s a jackpot, you will be asked if you want the lump sum payout or an annuity. They can’t progress your winnings claim until you know the answer. So you may wish to talk to a financial advisor before you go in to claim.
Depending on which lottery company it is, you may also be asked about publicity (these are the states that allow lottery winners to remain anonymous). Again, think about this carefully before you go in. Don’t let the excitement cloud your judgement. In my opinion, staying anonymous is always better for the winner.
Related Questions
How Long Does It Take To Get Lottery Winnings From Powerball
It can take between 2 and 8 weeks to get lottery winnings from Powerball. Unless the prize is below $600 in which case it can be paid out immediately by any lottery retailer.
The big multi-state games take a little bit longer to pay big winners. This is because it takes about 2 weeks for the money to be sent in from all the other states to the winners state.
See also: How Is the Powerball Lump Sum Calculated?
How Long Does It Take To Get Lottery Winnings From Mega Millions
If the Mega Millions prize is less than $600 it can be claimed immediately at any lottery retailer. But it can take 2-8 weeks to get big lottery winnings paid out from Mega Millions.
Multi-state games take a bit longer to pay prize for the big winners. It takes about 2 weeks for the prize funds to be paid by all the other states to the winners state – so they can then pay you.
How Long Did Your Win Take To Come Through?
If you’ve claimed online or in-person, how long did it take for you win to hit your bank account? Did you get a check the same day? Or did it take a few weeks? Or even months..?
Add a comment below (you don’t have to use your real name!).
If I win a big jackpot can I take a hefty lump sum at first and take the rest in annual payments?
No, it’s one or the other. But the lottery company will pay the first annuity payment right away – you don’t have to wait a year for the first payment.
You could also take the whole jackpot as a lump sum, hold on to a large chunk and put the rest into an annuity. Which would then pay you annually. Talk to a financial advisor and they can set that up for you.