Icelandic Lottery Winner Rakes in Record ISK 1.3 Billion Skip to content

Icelandic Lottery Winner Rakes in Record ISK 1.3 Billion

By Yelena

currency iceland
Photo: Golli.

Yesterday was certainly a lucky day for one Icelander, who won a record-high cash prize through Víkingalottó lottery. The total prize money amounts to ISK 1,270,806,970 ($10.5 million/€8.66 million) and is completely tax-free. The prize is around five times higher than any previous win in Iceland, thanks to systemic changes in the lottery system that increased the likelihood of bigger wins.

Winner Received Financial Advice

The winner visited the lottery office this morning where they received financial advice. “They have come here and we have provided them with financial advice,” stated Pétur Hrafn Sigurðsson, PRO of Íslenska getspá, which oversees the Víkingalottó’s operation in Iceland. “Generally winners receive advice on how it’s best to proceed. To tend to investing and avoid trying to conquer the world. They get general financial advice from accountants.”

Pétur says there is a four-week waiting period before the prize money is paid out to the winner. “It’s paid out in a single payment. The winner will receive the payment after four weeks. They get all of the money in their pocket as it’s entirely tax-free.” While Vísir has reported the winner is a family man in his 30s, Pétur stated he would likely prefer to remain anonymous.

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