Free Republic
Browse · Search
General/Chat
Topics · Post Article

Skip to comments.

The Lottery Curse: 10 Winners Who Lost Millions
The Richest ^ | Jan 24, 2014 | D'Marco Brown

Posted on 01/26/2014 10:17:02 AM PST by Innovative

Have you ever wondered why millions of Americans are secretly addicted to playing the lottery? Even if the chances of anyone actually winning are 1 in 175,223,510? Many of us know at least one person whose religiously dedicated to winning the almighty jackpot–even if they’re aware of the extremely slim odds.

Check out our list of the 10 most unlucky lottery winners whose millions tragically changed their lives forever. Seems to us like the old saying, “Money won’t make you happy”, should be changed to, “Winning the lotto won’t make you happy”.

(Excerpt) Read more at therichest.com ...


TOPICS: Business/Economy; Chit/Chat; Society
KEYWORDS: lottery; lotterywinners; moneymanagement
Navigation: use the links below to view more comments.
first 1-2021-4041-6061-80 next last
The list is quite interesting. Not that most of us will face that problem, but the moral of the story seems to be: don't tell ANYONE you won, don't start spending it, calm down and think about it. No matter how much money you win (or inherited or got any other way), it is easier than you think to blow it, if you aren't managing it carefully, and you'll actually could end up worse off.

Of course I am sure there are many sensible people who manage it well, but these ten people listed really destroyed their own lives -- the article statement "unlucky lottery winners" is inaccurate -- they weren't unlucky, they were naïve at best.

1 posted on 01/26/2014 10:17:02 AM PST by Innovative
[ Post Reply | Private Reply | View Replies]

To: Innovative

Ever examined the socio-economic demographics of most people who “invest” in lottery tickets? The explanation lies therein.


2 posted on 01/26/2014 10:19:59 AM PST by James C. Bennett (An Australian.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Innovative

3 posted on 01/26/2014 10:21:15 AM PST by Ghost of SVR4 (So many are so hopelessly dependent on the government that they will fight to protect it.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Innovative
Seems to us like the old saying, “Money won’t make you happy”, should be changed to, “Winning the lotto won’t make you happy”.

Or "Mo' Money, Mo' Problems."

4 posted on 01/26/2014 10:22:02 AM PST by dfwgator
[ Post Reply | Private Reply | To 1 | View Replies]

To: Innovative

I remember reading a long article about the decline and fall of a lottery winner from Florida. He was even featured on a TV show about lottery winners. He had purchased all sorts of statues and crap, including a bench with the Blues Brothers sitting on it.

He ended up in a rented storage unit strung out on drugs.


5 posted on 01/26/2014 10:23:45 AM PST by GeronL (Vote for Conservatives not for Republicans!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: dfwgator

Well, I would gladly take the challenge.


6 posted on 01/26/2014 10:27:10 AM PST by Yorlik803 ( Church/Caboose in 2016)
[ Post Reply | Private Reply | To 4 | View Replies]

To: Innovative

I think the lottery claims the right to use you in commercials if you win, so it would be hard to hide your identity.


7 posted on 01/26/2014 10:27:50 AM PST by Still Thinking (Freedom is NOT a loophole!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Innovative

Interesting that very few Lottery winners chose to take their winnings in yearly payments.


8 posted on 01/26/2014 10:31:04 AM PST by Huskrrrr
[ Post Reply | Private Reply | To 1 | View Replies]

To: Still Thinking

That’s true of almost all places, but there are a few who allow anonymity. Wouldn’t trust anything going on in those places. Why wouldn’t Dem polls just split up jackpots for shady campaigns?


9 posted on 01/26/2014 10:31:57 AM PST by jjotto ("Ya could look it up!")
[ Post Reply | Private Reply | To 7 | View Replies]

To: Innovative

The first thing to do is contact a competent, trustworthy accountant.


10 posted on 01/26/2014 10:32:05 AM PST by Jeff Chandler (Obamacare: You can't make an omelette without breaking a few eggs.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Huskrrrr

Interesting observation.
I wonder if the money depends on the financial solvency of the state or are they “insured” by some financial organization like an annuity.


11 posted on 01/26/2014 10:33:29 AM PST by nascarnation (I'm hiring Jack Palladino to investigate Baraq's golf scores.)
[ Post Reply | Private Reply | To 8 | View Replies]

To: Jeff Chandler
The first thing to do is contact a competent, trustworthy accountant.

And the Second, a damn good lawyer

12 posted on 01/26/2014 10:34:16 AM PST by HangnJudge
[ Post Reply | Private Reply | To 10 | View Replies]

To: Yorlik803
Well, I would gladly take the challenge.

I would too! The lottery site tells you how to approach a big win. Set up your new life before you cash the ticket.

13 posted on 01/26/2014 10:35:54 AM PST by jetson
[ Post Reply | Private Reply | To 6 | View Replies]

To: Huskrrrr

I’d just take the lump sum and live off the interest.


14 posted on 01/26/2014 10:36:05 AM PST by dfwgator
[ Post Reply | Private Reply | To 8 | View Replies]

To: nascarnation

I believe the winnings are funded for annual payment models by purchase of annuity instruments, with the ‘single payment cash’ value set at the same as the cost of the annuity.


15 posted on 01/26/2014 10:37:37 AM PST by PubliusMM (RKBA; a matter of fact, not opinion. 01-20-2016; I pray we make it that long.)
[ Post Reply | Private Reply | To 11 | View Replies]

To: dfwgator

I would take the lump sum and a ticket out of California.


16 posted on 01/26/2014 10:38:03 AM PST by Lurkina.n.Learnin (This is not just stupid, we're talking Democrat stupid here.)
[ Post Reply | Private Reply | To 14 | View Replies]

To: HangnJudge

The way to tell if I won the lottery is if you hear people saying,”Where is Jeff these days?”


17 posted on 01/26/2014 10:39:29 AM PST by Jeff Chandler (Obamacare: You can't make an omelette without breaking a few eggs.)
[ Post Reply | Private Reply | To 12 | View Replies]

To: Innovative

“Money won’t make you happy”,


Yeah, but it’s nicer to be miserable in a Rolls Royce than in a Yugo.


18 posted on 01/26/2014 10:40:28 AM PST by Rides_A_Red_Horse (Why do you need a fire extinguisher when you can call the fire department?)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Jeff Chandler

and lawyer (set up retirement trusts, keep the money grubbers away, etc)


19 posted on 01/26/2014 10:41:11 AM PST by taxcontrol
[ Post Reply | Private Reply | To 10 | View Replies]

To: Innovative

By being born, we hit a lottery with incredible odds.

By being born in a relatively free and prosperous society in these times, we hit with even higher odds.

For those of us who believe in eternal life with our Creator, well, the “prize” is something upon which no price can be placed.

I’d say that’s good enough for me.


20 posted on 01/26/2014 10:41:40 AM PST by Larry Lucido (If you like your all your base, you can keep your all your base. - CATS)
[ Post Reply | Private Reply | To 1 | View Replies]


Navigation: use the links below to view more comments.
first 1-2021-4041-6061-80 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
General/Chat
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson