O/T : 1/3rd of Lottery winners file for bankrupcy within a few years. Idiots...

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Self appointed RX World Champion Handicapper
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How the hell does that happen ..

I mean how friggin dumb do you have to be to blow it like that .

Also, 70 % of lotto winners squander it within a few years.

Please let me try and manage myself on 365 million... I promise I wont screw it up ..
 

RX Senior
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Spending it on big houses, fancy cars, bad business deals with friends and relatives. It can go quickly. And don't forget about the government's share. The winners also have to worry about former spouses and boyfriends/girlfriends who will sue to try and get a share of the winnings. Lots of people out there that come out of the woodwork. Granted the recent Powerball winner will have to work hard to blow through the however many millions they won.
 

Banned
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people spend money til it's all gone...I have never been able to understand this concept.
 

Rx Local
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Sounds like seven people will be coming forward Wed. to claim their millions, how would you like to be the guy that said no when asked if you wanted to throw a couple bucks in the pool.

Winner of $365M Jackpot to Be Revealed

LINCOLN, Neb., Feb. 22, 2006
--------------------------------------------------------------------------------
(AP)



(AP) Nebraska Lottery officials say the winner _ or winners _ of the record $365 million Powerball jackpot will be revealed Wednesday. Lottery officials scheduled a news conference at Lincoln's Cornhusker Hotel.

The winning ticket in last Saturday's drawing was sold in Lincoln.

It was the biggest jackpot on record for any lottery in the United States.

Lottery officials earlier said that winners of big jackpots most often consult with a lawyer or financial adviser before coming forward.

Rumors and speculation about the winner were abundant.

The Lincoln Journal Star said on its Web site that "sources close to the situation have confirmed" the winning ticket was held by a group of at least seven workers at a local meatpacking plant.
 

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How does a 365 million dollar lottery turn into a payout of 124.1 million.
Now you talk about misconception! Yes i know that 124.1 million is HUGE to say the very least. But how does this turn into this?
 

Pump n Dump
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Wrigley said:
The Lincoln Journal Star said on its Web site that "sources close to the situation have confirmed" the winning ticket was held by a group of at least seven workers at a local meatpacking plant.

The ones who didn't buy in are getting a "meatpacking" for a long, long time...ouuuuch

:missingte
 

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Doug said:
365 million over 20 years or lump sum now.

The installments are 30 years, i do believe. Chit WHO is guarnteed to live 30 years anyway. Some tell me that if you take this in installments and you die, the money dies with you too.
 

Rx God
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I think most take the lump, should go to your estate should you die.
 

Self appointed RX World Champion Handicapper
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lump sum is the only way to go.

you take 30 % of it and put it away so you can touch it for 15 years .

have a ball with the rest...
 

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:cryingcry Makes sense to me as the people who play the lottery consistently have something wrong with their thinking in the first place IMHO.

A local radio show has a prize every week of a trivia question that if you get right you'll get 25 free lotto tickets. What a horrible prize, you might as well give them $5, at least they'll get a value meal or something.
 

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