You may see them every day that you shop at a local convenience store, grocery store or department store. You may hear about them in the newspaper or see stories about them on the news. There is a strong possibility that you may have even purchased several of them yourself in the past or had several of them given to you as a gift. What are they? Lottery scratch-off tickets!
The Undeniable Element of Addiction
There are so many people around the world that enjoy the mere thrill of having a chance to win a million dollars almost instantly, even if they only have a one out of a billion chance of winning. This burning desire is what has allowed the lottery to become so successful and widely popular throughout the world over the years.
The idea that your entire life and financial status can change simply by scratching off specific areas of a specific ticket is exciting, captivating and highly addictive for hundreds of millions of people worldwide. People that are seriously addicted to this improbable hope will invest hundreds and even thousands of dollars each month in lottery scratch-off tickets and only receive a fraction of that money back in winnings (if they receive any winnings at all).Continue Reading
Many, many stories of the “curse of the lottery” are out there. We’ve all heard of people squandering the millions they won in the lotto until there is simply nothing left to show for their luckiest winning moment. But all is not lost, there are plenty who win big and spend wisely. Winning the lottery can change a person’s reality, and though it presents obstacles like being forced to deal with a sudden influx of money, it can be a wonderfully joyous event for you and your family, if you manage the cash well, and don’t let yourself be cheated by scammers, old acquaintances, and two-faced relatives. Thankfully, there are some examples of how to win the lottery and live out your dreams.
How to Win the Lottery… the Stories
When Minnesota’s Les Robins won $111 million in a 1993 Powerball drawing, he started a day camp called Camp Winnegator, still operating today. Media reports from the area say that Robins can still be seen padding around the 226-acre property that hosts the camp in an old Jeep. Robins also said to volunteer his time as a basketball coach. Talk about giving back!
Brad Duke of Idaho put his money to good use when he banked $85 million cash in a 2005 Powerball jackpot drawing. Duke invested carefully. He put the majority of the money into low risk investments, and $35 million into higher yielding, riskier investments. Duke paid of a modest Idaho estate, and set up a plan to pay each of his family members $12,000 a month – the maximum non-taxable amount in accordance with Idaho state law…Continue Reading
Winning at the lottery seems like one of the best things that could ever happen to anyone. Taking home the huge prize can inject millions of dollars into your bank account and change your life in the process. While plenty of people have won the lottery happily, there have been many who won a big jackpot, only to lose everything in a few short years. Gambling, prostitutes, excess donations, over-zealous lending habits, and mesmerizingly poor investments have led lottery winners to lose all. If you find yourself lucky enough to win the lotto, you’ll want to avoid following the lead of some of the biggest-losing lottery winners in history.
When Alabama Waffle House Tonda Lynn Dickerson was given a lotto ticket given to her by a regular customer, her co-workers claim that she agreed to split the earnings, should she hold the winning ticket. Sure enough, the ticket won and Dickerson failed to pay her colleagues a dime. Instead, she put all of the money into a corporation, which she in turn gave 51% ownership of to her family. So, what is the problem? In doing so, she was found liable for the gift taxes – totaling around a million dollars, coming from her 49% of the rapidly-dwindling earnings.
Another example of how not to win the lottery is that of England’s Michael Carroll. Carroll won 9.7-million pounds in the U.K. lottery, which blew, over the course of eight years, on partying, drugs, and prostitutes. He lost over 100,000-pounds on prostitutes alone. Now, with a purported 42-pound per month in income, it seems that Carroll has gone from partying with prostitutes to destitute. Yet, this one lottery-loser who seems happy with his lot in life, having lost his wife and all the money, Carroll insists that this life is the one he prefers…Continue Reading