$5m lottery jackpot up for grabs

There’s $5 million on the line and one financial expert has revealed the big mistakes to avoid if you do find yourself on the winning end of a lottery ticket.

There’s a $5 million prize on offer for the lottery draw this Tuesday night.

It’s the second time a $5 million Oz Lotto jackpot has been up for grabs in 2022.

Three lottery players have already taken home a division one prize in Oz Lotto so far this year, sharing more than $60 million in prize money.

Two of those division one winning entries were from Queensland and one was from Western Australia.

The last time somebody nabbed a $5 million windfall was in May 2021.

The Melbourne woman, from the suburb of Endeavour Hills, couldn’t believe her luck.

The winner or winners will be announced on Tuesday night.

The winning woman revealed she had been through a tough time but believed her $5.6 million division one prize helped bring light back into her life.

“Stop it! Did you say you’re calling from The Lott?” she said when she received the news.

“Oh my god! Oh my god! I am so sorry; I can’t stop crying. Are you kidding me? I am feeling so many mixed emotions right now.

“Oh sh**! This is crazy. I can’t even hold the phone right now. I can’t stop shaking!

“Sorry, I am all over the place right now. I’ve had a quite a tough time lately, so this just adds some light to my life.

“I am so emotional. I need to hang up this phone and just break down. This is incredible.

“We will definitely help our family. I am sure we will go on a few holidays too. But otherwise, I am not sure. I can’t think straight.”

There’s $5 million up for grabs.

Last week, a financial expert revealed a sobering statistic ahead of the $120 million Powerball draw on Thursday.

“Most lotto winners actually go broke within a couple of years,” Adele Martin, a certified financial planner, said in news.com.au’s ‘I’ve Got News For You’ podcast.

Speaking to podcast host Andrew Bucklow, she added: “That’s all around the world, not just in Australia.

“And that’s because, you know, if you’re not good at managing $100,000, you aren’t going to magically be better at managing $120 million.

“It’s the same principles, just more zeros.”

Ms Martin had a word of advice if you do find yourself on the winning end of a lottery ticket.

“The first thing you should do is to keep calm and carry on, which I know is easier said than done,” she said.

“The reason why I say that is you don‘t want to be making decisions when you are super emotional.

“Because when you’re very emotional, you aren’t making decisions clearly.

“When you’re too happy, you’re not thinking about all the downside risks or vice versa. If you’re too sad, you’re not thinking about all the positive things.

“So it really is important to try and keep as much as you can, you know in that neutral state and not make big decisions [until a bit later].”