Every week, millions of people buy lottery tickets in the hope that this week, finally, it will be their turn to win big. But is being a lottery millionaire all it’s made out to be? Not according to this sorry bunch...
Who wants to be a millionaire? Most people, surely (except billionaires or course). But sadly, winning a truck-load of money on the lottery, any lottery, comes with a heap of baggage.
Day dreams of a millionaire lifestyle seem to have a habit of turning sour faster than a sub-prime mortgage – isolation, paranoia, drugs, crime, poverty and prison await those who fail to adjust, as this top ten of ‘Lottery Losers’ shows:
1. Jack Whittaker won a record $314.9m Powerball jackpot in 2002.
But life since then has been a long list of arrests, lawsuits, broken relationships and even death. In 2007, his then wife, Jewell admitted she wished she had ‘torn up the ticket’.
2. William "Bud" Post won $16.2 million in the Pennsylvania lottery in 1988.
He later described the experience as a ‘nightmare’ and wishes it had never happened – who can blame him after he was sued by a former girlfriend eager to get her hands on the cash and his brother hired a hitman in the hope of inheriting the winnings. He invested in ill-fated family businesses and within a year was $1m in debt. Today he gets by on social security payments.
3. Luke Pittard from Wales won a ‘measly’ £1.3m on the National Lottery.
After the novelty had worn off and the obligatory lavish holiday, wedding and new home were done and dusted, he got bored and returned to work at MacDonalds.
4. An as-yet-unnamed Sicilian won £79m on the Italian lottery in 2008.
Before he or she could even collect the winnings consumer groups were demanding that the windfall be seized by the government. The winner has since gone into hiding, fearing the Mafia will come calling.
5. Janite Lee won $18 million in 1993.
Her generosity in giving money to a variety of political, educational and community causes was commendable – but just eight years later she filed for bankruptcy.
6. Mark Gardiner from London won £11m in 1995.
Thirteen miserable years later, he hasn’t lost his money, but he has lost all his friends - even the ones he treated to new £100,000 homes – and lost touch with his family.
7. Michael Carroll won a £9.7m National Lottery jackpot in 2002.
Since then he has appeared in court more than 30 times and been jailed for drug related offences. In 2008, he admitted that ‘just’ £500,000 of his windfall remained.
8. Willie Hurt won $3.1 million in 1989.
Two years later the money was gone and he was on a murder charge. Hurt spent his fortune on a divorce and crack cocaine.
9. Charles Riddle won $1 million in 1975.
The original lottery car crash, he quickly got divorced, faced several lawsuits and was eventually indicted for selling cocaine.
10. Ken Proxmire won $1 million in the Michigan lottery.
He moved to California, and invested in a car business with his brothers. Five years later, he was bankrupt and back working as a machinist.
Comments (53)
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Anthony
3rd Dec 2008 19:58
These sad stories prove the fact that if people do not know how to handle their own money, they will never know how to handle a windfall such as a lottery winning. The best thing the lotteries could do is make a financial literacy course and an appointment with an unbiased and not greedy financial planner mandatory for these winners. The sad thing is to see these people who have no idea how money works try to invest; the professionals often get it wrong, so these peolpe really have no chance.
all of these people must not have had money before they won--this can never happen to those who had money previously or who have a fair amount available to them now.
Apparently, you only like to report the bad! I'll bet there are 20 happy endings to this lousy 10.
Why is it that the ones who can't handle it get to win? Those who have money troubles after winning, often had them before. The lottery only magnifies the problems, not causes them.
I would love to win the lottery. My wife and I have talked how much fun it would be to then go into hiding, and do things for people when they would least expect it. Then leave before they found out where it came from.
What a blast and the stories one could tell.
timothy
3rd Dec 2008 23:11
I would like to see what I would REALLY do with it. Although were pretty well and trully Blessed in the ways that matter.
Horhai1
3rd Dec 2008 23:26
you show only ten of the hundreds whom have won ther are many more who are doing good with their winnings, these people were idiots to start with... the money just made them rich IDIOTS, enough said!!!!!
Imam 54
3rd Dec 2008 23:50
Unfortunately, money does not instantly invest one with the character qualities necessary to use it wisely. Words like integrity, honesty, self discipline, thrift, compassion, forgiveness, and service are not merely words. They are spritual principles that must be practiced as a way of life if one is to find any serenity and peace. This is true regardless of how much money one has. Indeed, If I don't learn and internalize these principles, money just becomes a huge headache.
dorothy
4th Dec 2008 00:06
money cannot buy you morals. My sister
did the same thing with her Disability ck. out of the woodwork came the slime. Now she is selling off her T.V and stuff to buy drugs.
Good story. You left off a big one though.
David Edwards of Kentucky, won 42 million gross, 27 million net, playing the Power Ball lottery.
He purchased a million dollar home in Florida, a private jet, a dozen exotic sports cars, a house full of jewelry and bundles and bundles of crack cocaine and other drugs.
In the end, the house was sold in foreclosure and he and his new wife ended up living in a storage unit. That is until they were kicked out of their also and all their belongings were sold off to pay the storage bill.
David is having major medical problems and he and his wife were in and out of court numerous times on drug charges.
He had stated in a news conference, to announce his win, that he was going to invest the majority amount of his winnings and live a simple life. Four short years after winning, he is virtually penniless but his wish of a simple life.
Be careful what you wish for.
j beuckner
4th Dec 2008 01:26
You never hear about the winners every damn week! The good stories. You always hear about the same damn ones. Give me a shot at it. I am confident the marbles would roll straight. I bet you it wouldnt be hard to dig up a hundred good news stories rather than focusing on these poor bastards.
rlharbi
4th Dec 2008 01:28
It is very simple. One can't cure stupid!
Stupid is as stupid does!!
Tekgranny
4th Dec 2008 02:07
I think that people have no idea how much a million dollars is.
It's like a million has no limit. It won't buy all of the things that a winner thinks.
I agree 1oo% that finding a financial advisor should be required of winners.
Where are the good stories? I bet they out weigh the bad ones
Lottery Winners
4th Dec 2008 02:23
Now lets hear some success stories.
Thank you
dowhatyouloveinthe1stplace
4th Dec 2008 02:54
A good percentage of the individuals that win lottery cash find out one thing: Having large amounts of cash only make you more of what you already are.
why? because monry can't buy u love or happen.
Mary Jayne Love
4th Dec 2008 02:59
That only proves one thing,"You can't fight ignorance"
If a person has a plan, just in case something wonderful happens; like winning the lottery, they should, before spending a cent of it. sit down, go over their plan, and there is always plan B.
Act like a bank robber should, don't go around spending money you would never think about before. Don't buy anything BIG or different,than you would normally do. Once you have these things, you want MORE, and MORE, until finially there is no normalicy in your life. You are showing the world that you have acquired all this,
"STUFF" that they will never have, and that's all.
If you have Family, you know they will come running, even though they haven't phoned you in months. Give them a piece,
whatever you feel they are worthy of, put it in their name, so they pay the taxes on it.
Then after everyone has been taken care of
tell them; " Get Lost". Do something sweet for your Momma ,and start enjoying
the rest of your LIFE! GOD BLESS.
Rosebud
4th Dec 2008 03:10
These people had no money smarts, so of course they experienced a train wreck. Other people have been smarter about their winnings. And these people stay away from leaches, including their families.
Others who win lotteries handle the money wisely, get good investment advise, and often return to their favorite pursuits. They are finance wise.
I have clients who won 21 mil, I put them into a trust to protect them from society and they have never spent any of it, modest life, modest home, kids in college with the income, that was 5 years ago, of course a drop in the stock market am sure cost them dearly, but to them its on paper and they do not dare indulge, good for them, no one knows who they are but me, their trusted attorney.
Rowdy Boots
4th Dec 2008 06:53
Dear Folks,
Try this: Give out 1 million dollar lottery winning as a maximum win to more people.
Teach elementary school children how to manage a dollar.
Remember the biblical tale of The Ten Talents--let's see who can prosper and not behave like a child with thier winnings!
Rowdy Boots
We can't base the facts of winning big on a group of losers like these. Not all of them are losers but you get the drift of what I am saying If you are heading on a down hill life and have no sence of value to start with money just speeds up the process. If you've spent your life boozing it up or drugging yourself you just do more of it with money. Don't get me wrong not everyone does this, it just is easier to go that way with money.For those who lose Friends after winning there is a parallel here with alcohol. Money and Alcohol don't make you a mean or self centered person they just have a way of bringing it out of some people. Some people with or without money are destined to a sad life.They hurt those around them until no one wants to be around them anymore.If people would treat those around them good and keep doing this as they spend their days here on earth then the riches that we are all wanting would already be here and not worrying about winning the lottery. Money can be good
colin syme
4th Dec 2008 10:59
l have stopped buying lottery tickets because l supect that a dispproptionate amount will be given to the Olympic Games at the expence of "good" causes, l now bet on the Irish lottery at my local betting shop(£2 per week and have won £74 twice so far (two numbers) which is more than l ever got buying Nat. lottery tickets,
Granted, the old sayin still goes...
If you 'aint happy without it; you 'aint gonna be happy with it.
It is true that most people have no clue what it takes to have money like this. My dh and I play the lottery and our plan is x amount of millions put into CD's, x amount to each family member or friend, paying off all bills, remodeling our condo or buying a new house if we would win enough. We would also buy new cars, maybe take a nice vacation, but the bulk of the money would be rolled over into safe investments to live on. No idiotic schemes, no relatives with their hands out over and over, they would be given a one time gift and told this is all we can ever give you so use it well, period. We would also set up trusts where the people could only siphon so much off per month or whatever to save on tax debt. I think the best thing for people with their heads in the stars about winning is, DON'T PLAY! If you have your hopes set on winning, throw your money away at a casino instead.
i think it would be great to win a lottery i am so tired of living pay day to pay day on 7.15 an hour now i am unemployed and its not fun not to be able to pay bills or make sure i have food for my kids and with christmas almost here and no money to buy any gifts well you know i would be thrilled to have won a lottery! have a good day
Grayce6@aol.com
4th Dec 2008 14:26
Winning the lottery is the opportunity of a lifetime. I have everything i want. Winning the lottery, would be the iceing on the cake. I'll take my chances with the lottery money. I'd like to see how many people i can make smile with that money.
Sharpening the Saw
4th Dec 2008 14:59
This helps explain why liberalism is so dehumanizing. Showering people with money is never the answer. People treat money based on the effort needed to get it, and when no effort is spent at all (such as in lottery winnings, welfare payments and other similar social programs) people just don't respect it. When sweat is spent obtaining money, the respect is there. Throwing money at people like this is dehumanizing in that the recepiants find them selves in worse shape than before.
Creating growth oppertunities is the answer instead.
FIRST, WE WILL GET AN ATTORNEY TO SET UP A TRUST FUND FOR US AND PUT EVERYTHING WE OWN IN THAT. THAT WAY, WE OWN NOTHING. ONLY THE TRUST OWNS IT BUT, WE WOULD BE THE SOLE TRUSTEES. (THAT'S LEGAL BTW.) THEN, WE WILL TAKE A 3 MONTH DECISION FREE TIME HIATUS AND LET THE DUST SETTLE. THEN A GOOD TAX ACCOUNTANT OR FINANCIAL ADVISER WOULD BE IN ORDER. IF ANY BODY ASKS FOR MONEY (EVEN CHURCHES) WE WILL TELL THEM THAT GOD HAS ALREADY INSTRUCTED US WHOM TO GIVE TO. (HE HAS ALREADY.) IF THEY WERE MENTIONED, THEY WOULD RECEIVE. IF NOT.... NO WAY BABY!!
Maybe these people deserve the loss of this money. They are obviously to idiotic and foolish to handle the money. what they did with it was obviously wrong and thats why they lossed it.Let it be a lessoned learned. There is to much greed in this modern day though.
Have a well thought out written plan before you win and stick to it then maybe you will not have as many heart aches as these people.
It isn't the Lotto that caused this,
It is the people to whom the money came.
Just curious, how many people have won big money from the lotto and are not losers like these people?
This is just a miniscule number of people compared to the number of winners.
larry gilbert
4th Dec 2008 15:35
I have worked since I was 14 years o;d , I really do wish I was lucky enough to win a couple of cool millions, but I dont see that happening in the near future. If the nnewly made millionaires wish to give some away , please send it this way , I will see if I can handle it.!
Unless you know how to handle money you'd better watch out,it has the tendency to bring out millions of friends holding their hand out . The secret is to keep it a secret.....I would never let my name be released.
their are many more out there that have
won and lived a very nice life. Sorry folks,
but you are the ones that "nessed up"
and in a big way. Did not have to be this
way.
It just goes to show that "money IS the root of all evil"
Money is like life. I you waiste it it will be over soon. After winning the lotto, if you continue to live life the same way and use the money wisely, don't tell toom many people, you will live a better life and the money will last longer.
AJAMES448
4th Dec 2008 18:06
ALL OF THESE PEOPLE WHERE ALREADY LOSSERS TO BEGEN WITH. NOW YOU GIVE ME $ 1 MILLION AND SEE HOW HAPPY I GET. I DONT HAVE ANY FRIENDS. MY KIDS ARE MAD AT ME ALREADY. I WOULD BE ABLE TO KEEP DOING WHAT I AM DOING NOW BUT BE MORE HAPPY ABOUT IT.
grayscale6
4th Dec 2008 18:24
HEY, I think the guy who got a great party, wedding, vacation
and a new house did fine.
So he decided he liked his old
job at McDonalds. What's wrong with that?
Money doesn't make sense. Sounds like they needed and lawer and CPA.
I am 67 yrs. old, And my Wife is almost 70,I would like to win enough to set up a trust fund that will pay us $10,000.00 per month for the next twenty yrs.from which we will give to churches, and charities. we will also spend about $2.000,00 per month on our children, and grandchildren. There will be no exception to the $10,000.00 per month. a Living will dictates the disposition of our Estate after we are gone. Just remember that it is better to died, and leaves a lot of Money for People, and Govt. to fight over rather than to live in poverty. Do you have a plan?.
I am 67 yrs. old, And my Wife is almost 70,I would like to win enough to set up a trust fund that will pay us $10,000.00 per month for the next twenty yrs.from which we will give to churches, and charities. we will also spend about $2.000,00 per month on our children, and grandchildren. There will be no exception to the $10,000.00 per month. a Living will dictates the disposition of our Estate after we are gone. Just remember that it is better to died, and leaves a lot of Money for People, and Govt. to fight over rather than to live in poverty. Do you have a plan?.
Tekgranny
6th Dec 2008 00:34
Ross, the idea that "if you can't be happy w/o it you can't be happy with it" are words that I have said to my children many times.
Dave, you left out a word in your quotation. Love. The LOVE of money is the root of all evil. You were on the right track.
play boy
18th Dec 2008 17:10
if u have much money give out to those guys ,
Annette
13th Jan 2009 23:49
Money can ruin a person, it can make you under value the simple needs in life. It can create friends who never existed before and will more than likely not exist when the bank balance is empty.
I cannot imagine what i would do with some of the amounts of money ive just read about, the wise one is the one hiding from the Mafia, cus to be frank, would you want to have to share it with them at a probable 60 40 split in favour of others. naaah didnt think so,
Money makes you stupid.
Natalie
4th Feb 2009 01:04
Well I still would like to win it, I'd rather have too much money than not enough!!
joy sharp
13th Feb 2009 17:15
i can not for the life of myself understand how people with so much money can not make it work for them or they can think of doing is buying drugs and giving the money to people who at any other time wouldnt give them to time of day or give them any help it they needed it what a load of twits i have naver known a bunch of such daff people in my life it is people like that that dont need to win the lotto as they dont deservie to have the money
THE PAISAN FROM PORT SAINT LUCIE
21st Feb 2009 21:53
Winning the lottery can be the turning point in ones life....obviously these people are...
"ONE FRUIT LOOP SHY OF A FULL BOWL"
Three words come to mind when winning the lottery....
INVEST INVEST INVEST
Best Wishes
"The Paisan from PSL"
Time and time again I hear people say -
I dont want a big win as I wouldnt be able to spend it - what the hell are they doing the lottery for. Reading previous comments - it's true - most of the people who win large sums have not handled much money before - and they just do not know what to do - what makes me angry is the following; ( winner with - say - 2 million ) I am not going to move from my little council house and I am still going to do my cleaning job - I might buy a new car - (secondhand ) I caannot comment anymore - they should not be allowed to have the money . . . . .
Maureen
10th Apr 2009 07:52
Obviously, none of us would know how to handle such a fortune. I believe the best thing to do, when you don't know what to do, is do nothing. People go mad, spending and throwing the money all over the place. Personally I would sit on it for a while and continue with my life the way was before winning the money. I think that having too many changes in your life when the money comes, is what causes the problems. We can't handle too many changes at the one time. Firstly, I wouldn't go public about it. No amount of money can buy you anonimity and that is essential to winning big amounts. There are too many undesirable people out there and I would not like to attract their attention. Id rather be miserable with it, than miserable without it. Im still going to do the lottery.
Maureen
10th Apr 2009 07:53
Obviously, none of us would know how to handle such a fortune. I believe the best thing to do, when you don\'t know what to do, is do nothing. People go mad, spending and throwing the money all over the place. Personally I would sit on it for a while and continue with my life the way was before winning the money. I think that having too many changes in your life when the money comes, is what causes the problems. We can\'t handle too many changes at the one time. Firstly, I wouldn\'t go public about it. No amount of money can buy you anonimity and that is essential to winning big amounts. There are too many undesirable people out there and I would not like to attract their attention. Id rather be miserable with it, than miserable without it. Im still going to do the lottery.
Michael Locke
21st Apr 2009 23:26
Stupid Suckers .You deserve all the grief you got .
michael sharp
6th May 2009 15:54
i have never won anything in my life things like the lottery dont come to people like me and my wife it goes to people who have lots of money in the first place that is why if i did ever win it ha ha ha very funny i would spend it very wisely i would help me friends real friends that is and put money in a bank for my son so he had a good start in life i would live where iam still living and i would tell noone so that by the time the year was up at least i would still have some left thats the way to do it but like i said it doesnt come to people like us only to people who dont need it but not to people who do
