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 previous 1-2021-4041-6061-80 next last
To: Innovative

21 posted on 01/26/2014 10:41:57 AM PST by Jack Hydrazine (Pubbies = national collectivists; Dems = international collectivists; me = independent conservative)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Innovative

The lottery is often referred to as a tax on the foolish. While this is not 100% true, it is true enough to be a saying. Why would we expect a good result when people who already make bad decisions are now able to make bad decisions with a whole bunch of zeros tacked on?


22 posted on 01/26/2014 10:44:40 AM PST by RightOnTheBorder
[ Post Reply | Private Reply | To 1 | View Replies]

To: Innovative

If you are irresponsible with your money before you win the lottery, you will be irresponsible after you win.

Anyone playing the lottery frequently could be judge as being irresponsible with their money. So it is not a surprise so many “winners” end up worse then they were before they won.


23 posted on 01/26/2014 10:44:54 AM PST by CIB-173RDABN (I do not doubt that our climate changes. I only doubt that anything man does has any effect.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Innovative

One does not have to tell anyone, the government will do it for you complete with pictures (except two states).


24 posted on 01/26/2014 10:45:02 AM PST by School of Rational Thought
[ Post Reply | Private Reply | To 1 | View Replies]

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

Disappear, go Galt, let No One know where you are.
Protect your family by removing yourself from their temptation
Notify ALL that any request for money will be met with disinheritance.

It may be possible to reestablishing relationships, but it will require a long time

25 posted on 01/26/2014 10:48:01 AM PST by HangnJudge
[ Post Reply | Private Reply | To 17 | View Replies]

To: Huskrrrr

One must assume the lottery or bank holding the funds will remain viable to take the monthly payments. One crook in charge or bad luck bank and you could get little to nothing.

I think this is the main reason people take the lump sum payment because it’s guaranteed money.


26 posted on 01/26/2014 10:50:34 AM PST by volunbeer
[ Post Reply | Private Reply | To 8 | View Replies]

To: jjotto

Good point. I never thought of that possibility. Even in the must-disclose states, though, they could just hire an actor to play the “winner” if they wanted to steal the jackpot.


27 posted on 01/26/2014 10:55:17 AM PST by Still Thinking (Freedom is NOT a loophole!)
[ Post Reply | Private Reply | To 9 | View Replies]

To: Innovative

If you don’t know how to handle money before you get a windfall, you won’t know how to handle it after you get a windfall, either.


28 posted on 01/26/2014 10:55:52 AM PST by E. Pluribus Unum (The only way women can "have it all" is if men aren't allowed to have anything.)
[ Post Reply | Private Reply | To 1 | View Replies]

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

The lottery purchases an annuity from an outside financial institution.

29 posted on 01/26/2014 10:57:28 AM PST by E. Pluribus Unum (The only way women can "have it all" is if men aren't allowed to have anything.)
[ Post Reply | Private Reply | To 11 | View Replies]

To: Huskrrrr

Considering the direction the dollar is going, that’s quite understandable. How would you feel having won a billion German Marks, payable over 20 years, about a century ago? What would once have made you wealthy beyond compare wouldn’t buy a sandwich much less than 20 years later.


30 posted on 01/26/2014 10:57:35 AM PST by coloradan (The US has become a banana republic, except without the bananas - or the republic.)
[ Post Reply | Private Reply | To 8 | View Replies]

To: Innovative

#4 on the list gave hers to Democrats

what a blithering idiot


31 posted on 01/26/2014 11:00:40 AM PST by GeronL (Vote for Conservatives not for Republicans!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Innovative

On the other hand, Hollywood Henderson blew through earned wealth, and seems to have made well on his second chance after winning the lottery.


32 posted on 01/26/2014 11:00:52 AM PST by Dr. Sivana ("We are not sluts."--Sandra Fluke)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Huskrrrr

even those who do take yearly payments soon find themselves selling future payments to structured settlement companies for a lot less than cash value


33 posted on 01/26/2014 11:01:54 AM PST by GeronL (Vote for Conservatives not for Republicans!)
[ Post Reply | Private Reply | To 8 | View Replies]

To: Innovative

I’m pretty sure if I came into a lot of money I’d spend half of it on booze and broads. Then I’d just blow the rest.


34 posted on 01/26/2014 11:02:58 AM PST by Cyber Liberty (H.L. Mencken: "The urge to save humanity is almost always a false front for the urge to rule.")
[ Post Reply | Private Reply | To 1 | View Replies]

To: GeronL
from the UK Daily Mail, (2013?)
David Lee Edwards, 58, died Saturday in hospice care in his hometown of Ashland, Kentucky,
after blowing through $27million in five years...from what I'd heard, right up his nose, a druggie.

35 posted on 01/26/2014 11:03:52 AM PST by skinkinthegrass (The end move in politics is always to pick up a gun..0'Caligula / 0'Reid / 0'Pelosi)
[ Post Reply | Private Reply | To 5 | View Replies]

To: Innovative

Winning the lottery doesn’t change who you are, it magnifies it.


36 posted on 01/26/2014 11:06:50 AM PST by Yo-Yo (Is the /sarc tag really necessary?)
[ Post Reply | Private Reply | To 1 | View Replies]

To: skinkinthegrass

bump


37 posted on 01/26/2014 11:07:03 AM PST by GeronL (Vote for Conservatives not for Republicans!)
[ Post Reply | Private Reply | To 35 | View Replies]

To: Innovative
If people want to spend their money on Lotto tickets, or scratch-offs, well... it's their money.

I'd like to know the percentage of those who squander their winnings to those who win and quietly move on with their lives. Is it high or low? I ask because there are very few stories on those who won and successfully transitioned from where they were to millionaires. I wonder why?......

38 posted on 01/26/2014 11:13:23 AM PST by jeffc (The U.S. media are our enemy)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Innovative

I just wanna have a chance to be so cursed!
After winning I would wear every good luck charmed imagined.


39 posted on 01/26/2014 11:22:36 AM PST by minnesota_bound
[ Post Reply | Private Reply | To 1 | View Replies]

To: jeffc
there are very few stories on those who won and successfully transitioned from where they were to millionaires. I wonder why?....

Your question intrigued me so I googled up the following link, which has 7 interesting success stories:

http://money.ca.msn.com/savings-debt/gallery/gallery.aspx?cp-documentid=23969513&page=1

40 posted on 01/26/2014 11:25:14 AM PST by DeFault User
[ Post Reply | Private Reply | To 38 | View Replies]


Navigation: use the links below to view more comments.
first previous 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