Jackpot CEO Akshaye Khanna revealed how the startup plans to disrupt the $ 100 billion lottery market on ‘The Claiman Countdown’.
Powerball $ 1.79 billion jackpotThe estimated cash value of which is $ 820.6 million, won after matching the winning numbers after tickets in Missouri and Texas on Saturday.
Experts say that those who win jackpots will require a team of professionals – from a CPA to a lawyer and money manager – to handle their sudden air properly.
Mark J. White, Wealth Advisor and Carpeff’s managing partner, White and Associates Wealth Management told Fox Business that being a strong team is “important” because of being a strong team, seeing that no professional has expertise in all fields necessary to manage surprising fate.
“A CPA tax can help navigate the implication, a lawyer can advise on trusts and legal safety, and a money manager can form an investment strategy to suit long -term goals. Along with, the team helps to ensure that nothing is ignored and avoided expensive mistakes,” White said.
Powerball tickets sold in Missouri and Texas win $ 1.79b jackpot
A billboard showed the Powerball Lottery Award at $ 1.7 billion on September 4, 2025 in Emerivile, California. (Justin Sulivan / Getty Image / Getty Images)
Andrew Mims, the founder of Oak Grove Estate Planning, said lottery winners would need a lawyer who specially experts in trusts and estate planning. He said that the winners should not feel quickly and there is no need to claim the award immediately.
The first step, Mims advised, someone else has to sign the back of the ticket to prevent it from claiming, and then safely store it to a place where it will not be damaged.
Establishment of a trust, Mims said, lottery is the best way to claim victory, as it helps in protecting both privacy and property. Claiming through a trust can keep a winner’s identity private, even in states that usually need to publicly identify the winners.
Using a trust and investing wisely or giving money in annuity can also help prevent the winners from extinguishing very quickly. By doing this, funds will be protected for generations to come according to MIMS.
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Mims said, “The last thing you want is unintelligent with your new victory or, if something happens to you, to pass the money with friends or loved ones who can blow it up or make bad decisions,” Mims said, “You can avoid how can it be set with rules with a trust and When money can be spent.,
Establishment of a trust is the best way to claim lottery win, Andrew Mims told Fox Business. (Reuters / Andrew Kelly / Reuters)
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White said that the selection between lump sum and annuity is a “highly individual” decision. Longevil provides flexibility and gives the winners Invest their money Immediately, which can reduce your money over time. But, someone taking this option requires “strict discipline and careful planning” according to white.
The annuity option, which provides guarantee of guarantee income in many years, can serve as a security against overseas or mismanagement, according to White. The right choice comes down to the person’s financial habits, tax ideas and overall goals.
Winners can claim their victory in lump sum or annuity options. (Brandon Bell / Getty Image / Getty Image)
White said that many lottery winners have fought, it is that they had no plans. According to White, some of the most common mistakes include overseas without budget, responsible for taxes, to invest poor or speculative investments or failure to avail benefits by friends, acquaintances or unqualified advice.
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Mims also said that it is important for the winners to understand the nuances of the award. For example, the winners should keep in mind that there will be money Heavy At both state and federal levels.
Mims said, “Don’t plan such that you have full amount, because a large part of the victory will go into taxes.”
