If you take home Thursday’s incredible $100 million Powerball jackpot, there are a few important steps you need to know before attempting to withdraw your winnings.
The first division winnings in Powerball drawing 1475 are one of the largest the country has ever seen, coming after weeks of no first division winners.
If a person matches all seven winning numbers and the all-important Powerball number this week, they will collect the entire $100 million and become one of Australia’s biggest lottery winners.
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But when it comes to transferring your winnings, the process is a bit more complicated than you might think.
The Lott has pointed out that winners can transfer their millions in two ways: either through The Lott app or The Lott website.
From there, players can transfer their funds to either their bank account or their PayPal account, but it’s important to know how.
Here are the detailed steps as recommended by The Lott.
How can I withdraw money from my account?
There are several ways to withdraw funds from your account. Make sure you are logged into your account before following these steps:
1. Withdraw money via The Lott mobile app
- Tap the account icon at the bottom of the screen
- Tap on credit
- Tap “Withdraw Money”
If you have already provided PayPal or bank details:
- Swipe to select the account you want to withdraw to
- Tap the “Max. $X.XX” line and enter the amount you want to withdraw
- After confirmation, tap the Withdraw to PayPal or Withdraw to Bank Account button
If you have not yet provided PayPal or bank details:
Paypal:
- In the Balance section, tap PayPal
- Tap “Connect to PayPal”
- If you are connected to PayPal, log in and click “Agree and continue”
- PayPal will now be connected and you can follow the steps above to withdraw
Bank details:
- In the Withdraw Funds section, tap the + sign in the top right corner.
- Enter your account name, BSB and account number
- Tap Add Account
- The bank will now be added and you can make the withdrawal 1, 2, 3, 4 steps above
1. Withdraw money on The Lott website
- Click on the account icon
- Select Funds from the dropdown menu
- Click on “Transfer money to my bank account”
If you have already provided PayPal or bank details:
- Click “Withdraw” on the desired account.
- Enter the amount you want to withdraw
- Click the “Withdraw to PayPal or bank account” button
If you have not yet provided PayPal or bank details:
Paypal:
- In the My Funds section, click PayPal
- Click on “Connect with PayPal”
- If you are connected to PayPal, log in and click “Agree and continue”
- PayPal will now be connected and you can follow steps 1, 2, 3, 4 above to withdraw
Bank details:
- In the Withdraw Money section, click Withdraw to new bank account.
- Enter your account name, BSB and account number
- Enter the withdrawal amount
- Click on “Add and withdraw”
What happens if you win the first division?
- A representative from The Lott will call you immediately on the contact number provided in your account and tell you the good news.
- The Lott will send you a letter confirming your Division One Powerball win, as well as some “congratulations gifts” to celebrate your win.
- According to The Lott, you will then have to wait two weeks for your winnings. “You will have a two-week trial period to plan what you will do with your life-changing prize,” says The Lott.
- The winnings will then be transferred to your online account so that you can then withdraw the millions to a bank account of your choice.
If you are concerned about your own gambling or the gambling of a friend or family member, please contact Online gambling help or contact us by phone on 1800 858 858.
You can access online advice and Services in your state or territory And Support for family and friends.
