'Vax-A-Million' lottery comes with downsides

COLUMBUS, Ohio (WSYX) — A million bucks just ain’t what it used to be.

That’s the advice from a Columbus attorney when it comes to Gov. Mike DeWine’s “Vax-A-Million” lottery. Over five weeks, the state will draw five $1-million winners out of those who can prove they’re vaccinated. There is evidence it’s not just a gimmick: vaccinations have gone up since the governor announced the lottery.

But Geoff Kunkler of Carlile Patchen & Murphy, has had clients will big lotteries before. He points out that nearly half of the lump sum payment could go to taxes.

He also notes that unlike MegaMillions and other state lotteries, the Ohio Lottery Commission won’t allow winners to claim their prize anonymously. That could open them up to calls from long-lost relatives and come-ons from those who want to help you, ahem, invest your money.

Plus, Kunkler said many lottery winners quickly squander their winnings.

“The stats are not good with what lottery winners do with their money,” he said. “A lot of them ended up blowing through it pretty quick, fast forward a few years and the money's gone.”