The luck of the Irish?

It appears that the owner/owners of a lottery ticket in the Republic of Ireland is/are the sole winner/s of the €250 million rollover EuroMillions jackpot.

The EuroMillions jackpot is capped once it reaches €250 million (approx. ≡ £213,650,000)

The tabloid press are clearly going to follow this story. Herewith the Daily Record: https://www.dailyrecord.co.uk/lifestyle/euromillion-results-june-17-208m-35409022

NB: It use the singular and the plural as many lottery punters join syndicates. It is to be hoped that this win has been one by a large syndicate for the worst case scenario for all concerned is for one individual to scoop the entire sum. This because many players are low income individuals who are unsophisticated culturally, intellectually and socially to be able to handle this vast change in fortune.

If not in a syndicate, a sole winner has two choices: Privacy or Publicity.

Both have pros and cons.

Choosing anonymity means living a secret life a deception upon their closest friends and family. It means that they will have to live a life of lies constantly seeking fake explanations for their change in fortune.

By contrast, choosing publicity will means short term exposure to the tabloid press. If they have a criminal past they will face intense excoriation. In any event, they and their family members will be exposed to the risk of kidnapping. Kidnapping is a crime traditionally rare in Great Britain but is more common in Ireland and the European continent generally.

Basically, an individual wishing to preserve a reasonable standard of life may well consider that they should deal with their newfound wealth along similar lines to if the money was “hot”. If they wish to benefit from all of the money it has to “legally laundered” – “laundering” with the tax authorities being made aware of the laundering (the money having come from lawful source and not an unlawful source).

A satisfactory alternative is to donate money of the money to charitable causes. This can be done anonymously via solicitors.

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