Are there any Lottery success stories?

[TommyVercetti]

Are there any people who actually used the lottery money, invested it and made themselves even more richer?

All the stories I hear are about them becoming bankrupt in a couple of years.

 

[MattCo]

The reason you always hear about the big money losers is because it makes for a better news story. Surely all of the winners can't be that careless. I would like to give it a shot myself.

-MC

 

[Amorphus]

don't lotteries do stuff like "you recieve one dollar every year for the next 130 million years" or something? I dunno, my reports are uncorrobated.

 

[sygyzy]

Actually, surely all the winnders CAN be that careless.

 

[anxi80]

you can either receive payments over a 20 year period i believe or take the whole enchilada at once. the difference is, the whole enchilada is taxed more. personally, i would take the whole thing at once and wisely invest and save, of course, id put a couple mill away for some fun.

edit: a link that explains how the lump sum and annual payments go for california. i was wrong, 26 annual payments. link here

 

[chowderhead]

Originally posted by: anxi80
you can either receive payments over a 20 year period i believe or take the whole enchilada at once. the difference is, the whole enchilada is taxed more. personally, i would take the whole thing at once and wisely invest and save, of course, id put a couple mill away for some fun.

if you agree to a lump sum, it won't be for the full amount. It will be some percentage i.e. a little more than half the amount. There is some economics involved with present value when calculating the lump sum. Most people for tax purposes should take the lump sum.

 

[ReiAyanami]

that millionaire in west virginia won the $130 milllion jackpot. he was recently in the news when he got drugged at a strip club and his suitcase full of $120,000 was stolen but later found in a dumpster...

talk about lucky

 

[nodoubts2k]

I would love to wih the 5000 dollars a week for life...that would be sweeet

 

[Broohaha]

the first time i ever played the lottery i got the first two numbers exactly right. the last four numbers were way off though.

 

[SOSTrooper]

I've only won $9 the most for hitting 3 out of 6 numbers. Last week 2 sets of numbers hit 2 numbers out of 6. So I got $2 X2, $4. I used the money for more lottery...

 

[DannyBoy]

I won £10 the first time i played, then i played some more, and some more, and....

Then I won £50 the second time and worked out I won back pretty much exactly what I had paid in lottery tickets

Havnt played since

 

[isaacmacdonald]

Lottery is teh sux0r. Slot machines afford vastly better odds.

No doubt about it, your expected return from playing the lottery is very negative. First the House Edge ? or the amount that goes into state coffers - is a whopping 50%, the largest House Edge of any chance game. And your odds of winning the mega-millions prize are lower than the possibility that Martians with land on your doorstep tomorrow. Of course, you wouldn?t know this if you listened to the States advertising their lottery wares?

But the worst odds of all and the most regressive tax of all, meaning that it?s a much higher tax for the poor than the rich, is, of course, the State Lottery system.

 

[Yax]

Originally posted by: TommyVercetti
Are there any people who actually used the lottery money, invested it and made themselves even more richer?

All the stories I hear are about them becoming bankrupt in a couple of years.

Well, my $11 winning ticket was cashed in and immediately used to buy more numbers which I'm hoping will make me over $90 million richer after tonight.

 

[BooGiMaN]

Originally posted by: isaacmacdonald
Lottery is teh sux0r. Slot machines afford vastly better odds.

No doubt about it, your expected return from playing the lottery is very negative. First the House Edge ? or the amount that goes into state coffers - is a whopping 50%, the largest House Edge of any chance game. And your odds of winning the mega-millions prize are lower than the possibility that Martians with land on your doorstep tomorrow. Of course, you wouldn?t know this if you listened to the States advertising their lottery wares?

But the worst odds of all and the most regressive tax of all, meaning that it?s a much higher tax for the poor than the rich, is, of course, the State Lottery system.

and you get no instant results as to whether you won or lost...u have may have to wait days depending on when you bought the lotto ticket

 

[SWirth86]

No

Even if you win and manage to not spend 10 million dollars, thats not a success in my book.

 

[anxi80]

Originally posted by: cheapbidder01
Well, my $11 winning ticket was cashed in and immediately used to buy more numbers which I'm hoping will make me over $90 million richer after tonight.

that $93 million jackpot is mines dammit! back off!

 

[Pepsi90919]

bingo is where it's at.

 

[Aboroth]

I bought a lottery ticket once. I split the cost for a $2 instant win ticket with my friend. We won $10. I think I spent my winnings at Wendy's.

 

[Yax]

Originally posted by: anxi80

Originally posted by: cheapbidder01
Well, my $11 winning ticket was cashed in and immediately used to buy more numbers which I'm hoping will make me over $90 million richer after tonight.

that $93 million jackpot is mines dammit! back off!

Ha! I bought 11 of the same numbers so if you should win with me, I'd get 11/12 shares and you'd only get 1/12. Hmmm, I'm going to go buy more of the same numbers just to increase my share when those numbers come out. LOL.

 

[Ness]

I bought a scratch and win card one time, and one time only. It cost $1, and I scored $20. I invested that in some pizza for everyone at work (which was all of 5 people.)

Not a damn one of them said thanks.

So now I eat pizza and just look at them and laugh when they ask if they can have some.

 

[Eli]

I am sure.

Any responsible moron would know not to just blow all the money. The first thing I would do if I won the lottery is hire a financial advisor attorney.

 

[tk149]

A friend of the family who lives overseas once had me buy him $200 worth of lottery tickets during a really big jackpot week. He won $50.

 

[basara318]

i have bought a dollar lotto before and won 120$

 

[Zee]

Originally posted by: basara318
i have bought a dollar lotto before and won 120$

the most i got was 40. the game was "loose change"

 

[pinoy]

The guy I'm working with right now, won 5 or 6 million, I guess. They chose a 30 yr. pay off. They won the lottery 4 yrs ago but so far we don't hear/see them do a stupid move about spending money. GOOD FOR THEM!!!