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…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