• Lottery Winners: Who Blew It & Who Grew It

    Lottery Winners: Who Blew It & Who Grew It

    The key reason why millions of people worldwide participate in lottery competitions on a daily basis is because they believe lottery can change their lives for the better. Whereas it is true that people’s lives have been changed as a result of winning millions of dollars in lottery, there are also people’s lives that were ruined because of winning huge sums of cash in lottery.

    In this article, we look at the lives of people that were changed for the good and bad thanks to winning $1 million dollar plus in lottery.

    Lottery Winners Who Did Not Relish Their Winnings

    The popular saying, “Winning is not everything” is best demonstrated by the people listed below. By reading some of their stories, you will be encouraged to think about what to do with your winnings the instant you are the lucky winner of a million dollar jackpot.

    #1: Suzanne Mullins

    Rather than clear her debts, Suzanne Mullins managed to dig herself deep into a pile of debts. According to MSN, after winning $1 million the 1993 US Lotto, Suzanne saw that it was in her best interest to receive annual payouts rather than a single lump sum of cash. Before she realized it, she was in a pile of debt. She opted to utilize her future annual payouts as security for a $200,000 credit. Later on, Suzanne decided to receive the remaining sum in lump sum. Unfortunately, she did not use the cash received to pay off her debts. The financing company decided to file a lawsuit and was awarded a $154,000,000. Regrettably, the loaning company did not collect a single cent given that Suzanne did not have any tangible asset to her name.

    #2: Michael Carroll

    According to The Week Reports, Michael Carroll was at the peak of his career when he was announced as the lucky winner of Britain’s £9.7 million jackpot in the year 2002 which is equivalent to $15 million. However, Michael had a desire for life in the fast lane. Some of the luxuries that Michael Carroll had a weakness for included, but not limited to expensive cars, prostitutes, party life and cocaine. In less than 5 years, Michael had blown away the £9.7 million he had won.

    #3: Americo Lopez

    When Americo Lopez was announced as the winner of the New Jersey Lottery, he was working as a construction worker. As is the case with every other lottery winner who is not adequately prepared with the millions that come with winning a jackpot, Lopez decided to quit his day job. As if quitting his job was not enough, he lied about it. He told his employer the reason for quitting his job was because he sustained a serious foot injury and required foot surgery.
    Later on, Lopez told one of his ex-colleagues that he had actually won a lottery and was the key reason why he had quit his job. It later turned out that Lopez had promised to share the winnings with a couple of ex-colleagues. They sued Lopez and a court of law compelled Lopez to divide the winnings as initially promised.

    #4: Evelyn Adams

    It is not every day that somebody manages to win a lottery twice. This is because the odds of winning a second successive lottery are marginal. However, Evelyn Adams is one of those few people who managed to win a jackpot twice in the year 1985 and 1986. According to AskMen.com, Evelyn Adams won a staggering $5.5 million in Atlantic City. Unfortunately, she decided that the best way to invest her money was through gambling. The rest as they say it is history as Evelyn Adams today lives in a trailer park.

    Other lottery winners other than the ones mentioned above whom decided to blow their winning are:

    – Willie Hurt: After winning a $3.1 million jackpot, Willie decided to blow the cash on cocaine.

    – Denise Rossi: After winning $1.3 million, Denise decided to divorce her husband but failed to reveal the winnings. Later on, her husband sued her and Denise was compelled to pay her ex-husband the entire sum of cash.

    Successful Lottery Winners

    Not every lottery winner ends up miserable, there are lottery winners who managed to put their winnings to good use and their lives were changed for the better. Listed below, are some of the successful lottery winners who are today living the good life thanks to the investments that they have made:

    #1: James Dixon

    James Dixon who is a retired maintenance supervisor won a $200K lottery. He later a financial planner and managed to triple his investment in less than 5 years. Today, James is one of the few lottery winners who are living the American dream.

    #2: Lesley Vickars

    Lesley Vickars who is a bookkeeper managed to win a $25 million lottery while away on vacation. Thanks to her accounting skills, Lesley managed to wisely invest her winnings and is today one of the few millionaires in the United States.

    Ah well... Tim Norris via Compfight