Tony Bitonti, OLG’S director of communications, said Ontario has seen its own share of 70 million winners.
“There have been six $70 million winners across Canada — four of them here in Ontario,” Bitonti said. “And I have had the joy of meeting all four of these and presenting them with this astronomical cheque.”
Bitonti said responses to winning such a big prize are probably what you’d anticipate.
“When I meet them, they are giddy, they’re in shock, and then within a few minutes when I present them with the cheque, even though it’s a novelty cheque, they are aware that that money is imminent, it is going into their bank account within seconds,” he said.
As stated by the OLG, the likelihood of winning the $70 million payout using a single play is just 1 in 33.2 million. A Noellville, Ont., bunch won $70 million in February.
Lf you defy the odds and wind up with a winning ticket, Pattie Lovett-Reid, main financial commentator for CTV News, has some advice. Lovett-Reid’s first trick is to resist telling anyone, at least not immediately.
“Family, friends, charities, they all come knocking, and you can be unprepared regarding how to respond,” she explained. “That doesn’t mean you don’t respond and you also do not give, since I think you do. I also believe you get to spend, but you need to understand what to store. So you must get a program.”
Lovett-Reid said a big lottery win, or some other sudden windfall, should be followed up with a call to a lawyer, accountant or financial advisor. She also propose three simple principles: spend some, give some, save some.
