# Do lotto winners really lose it all? **URL:** \ **Category:** In My Humble Opinion\ **Created:** [August 21, 2016, 8:28pm UTC](https://boards.straightdope.com/t/do-lotto-winners-really-lose-it-all/763553 "2016-08-21T20:28:21Z")\ **Posts on this page:** 20\ **Page:** 5
**Author:** ![dzeiger](https://avatars.discourse-cdn.com/v4/letter/d/46a35a/32.png) [@dzeiger](https://boards.straightdope.com/u/dzeiger)\ **Post date:** [August 29, 2016, 12:24am UTC](https://boards.straightdope.com/t/do-lotto-winners-really-lose-it-all/763553/81 "2016-08-29T00:24:44Z")
> [@iljitsch](#): > > I don’t think it’s necessarily a question of stupidity, although at some point it becomes that. > > IMO, the explanation is that people whose only experience is getting a modest amount of money every month (I gather getting paid every two weeks is also a thing, weird) and then spending that money simply don’t have the mindset necessary to have access to money and not spend it. It certainly took me a while to get used to having money in the bank that I wasn’t saving for a particular relatively short term purpose. There is an interesting old Cracked article at [http://www.cracked.com/blog/the-5-stupidest-habits-you-develop-growing-up-poor/](http://www.cracked.com/blog/the-5-stupidest-habits-you-develop-growing-up-poor/) Point 4 covers money and metions lottery winners. ---
**Author:** ![moojja](https://avatars.discourse-cdn.com/v4/letter/m/e5b9ba/32.png) [@moojja](https://boards.straightdope.com/u/moojja)\ **Post date:** [August 29, 2016, 12:38am UTC](https://boards.straightdope.com/t/do-lotto-winners-really-lose-it-all/763553/82 "2016-08-29T00:38:28Z")
> [@hajario](#): > > They are totally wrong. No savings in case of emergency is competely idiotic. It’s what very stupid people do. Well, the tricky part is to make sure you die right after you spend the 5 dollars. 🙂 ---
**Author:** ![Chimera](https://avatars.discourse-cdn.com/v4/letter/c/8e8cbc/32.png) [@Chimera](https://boards.straightdope.com/u/Chimera)\ **Post date:** [August 29, 2016, 12:50am UTC](https://boards.straightdope.com/t/do-lotto-winners-really-lose-it-all/763553/83 "2016-08-29T00:50:33Z")
> [@moojja](#): > > Well, the tricky part is to make sure you die right after you spend the 5 dollars. 🙂 So basically, bet someone that $5 you can do something suicidally stupid, “Hold my beer” and then get killed doing it. 😃 ---
**Author:** ![Canadjun](https://avatars.discourse-cdn.com/v4/letter/c/76d3ee/32.png) [@Canadjun](https://boards.straightdope.com/u/Canadjun)\ **Post date:** [August 29, 2016, 2:01pm UTC](https://boards.straightdope.com/t/do-lotto-winners-really-lose-it-all/763553/84 "2016-08-29T14:01:29Z")
> [@SigMan](#): > > I only found that the drawings weren’t really random but a tendency. > > This is why the lottery officials test run the machines a few times before the drawing, to break up that tendency. > > My program doesn’t show me the tendencies every time but when there is one at the time I make my bets based on it and my odds were good. How would you determine this “tendency”? You certainly can’t do it with just a few drawings (I am assuming you mean some sequences of numbers are more likely than others, based on previous draws). ---
**Author:** ![SigMan](https://avatars.discourse-cdn.com/v4/letter/s/13edae/32.png) [@SigMan](https://boards.straightdope.com/u/SigMan)\ **Post date:** [August 29, 2016, 4:18pm UTC](https://boards.straightdope.com/t/do-lotto-winners-really-lose-it-all/763553/85 "2016-08-29T16:18:58Z")
Correct. It’s not a “system” but an interesting observation. I cannot pinpoint it but be in the certain area of the play slip. It’s more like a prediction game I made out of it. Remember the old days where you flip a series of cards to get animation? I made a computer animation with the play slips and watch the markers group. A lot of times they are just helter skelter then they migrate into a group. I pick my numbers in that group. As a result I hit 3 of 6 a lot, 4 of 6 one time and could’ve got 5 of 6 if I went down -1 on a set. Nothing scientific about it but where the odds were millions to 1 I made my odds better. ---
**Author:** ![RickJay](https://avatars.discourse-cdn.com/v4/letter/r/bb73d2/32.png) [@RickJay](https://boards.straightdope.com/u/RickJay)\ **Post date:** [August 29, 2016, 4:49pm UTC](https://boards.straightdope.com/t/do-lotto-winners-really-lose-it-all/763553/86 "2016-08-29T16:49:20Z")
I have to admit I am skeptical of the 70% figure, in part because I am unaware of any source or reliable study for it - there is no one whose job it is to track lottery winners and determine their fiscal stability - and in part because round numbers are suspicious. The 70 percent figure always refers back to the National Endowment for Financial Education, who seems on the up and up but a) It is of course natural that they would play up any story suggesting you need financial education, and b) It’s not on their website anymore so far as I can tell so who knows where they got it. There’s also the fact that talking about “what would you do?” is a fun thing to talk about and pretty much everyone says “the first thing I’d do is stash most of it in the bank and not touch the principle.” There are any number of truly spectacular examples of people winning the lottery and their lives exploding in flame, but then, those are the stories that make good articles. The stories about people who pay all the debts off and then live off the interest aren’t stories at all. ---
**Author:** ![Dallas\_Jones](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/dallas_jones/32/3277_2.png) [@Dallas\_Jones](https://boards.straightdope.com/u/Dallas_Jones)\ **Post date:** [August 29, 2016, 5:05pm UTC](https://boards.straightdope.com/t/do-lotto-winners-really-lose-it-all/763553/87 "2016-08-29T17:05:36Z")
> [@SigMan](#): > > Correct. It’s not a “system” but an interesting observation. I cannot pinpoint it but be in the certain area of the play slip. It’s more like a prediction game I made out of it. > > Remember the old days where you flip a series of cards to get animation? I made a computer animation with the play slips and watch the markers group. A lot of times they are just helter skelter then they migrate into a group. I pick my numbers in that group. > > As a result I hit 3 of 6 a lot, 4 of 6 one time and could’ve got 5 of 6 if I went down -1 on a set. > > Nothing scientific about it but where the odds were millions to 1 I made my odds better. Oh come on! I play the Oregon Megabucks twice a week. I know it’s a waste of money game but I still play. I let the lotto computer pick the numbers. $5 gets you 10 lines. 3 out of 6 wins you a free $1 ticket, which I get almost every damn week. 4 out of 6 gets you about $40, which I hit a couple times a year. Your “interesting observation” is called random chance. ---
**Author:** ![Telemark](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/telemark/32/372_2.png) [@Telemark](https://boards.straightdope.com/u/Telemark)\ **Post date:** [August 29, 2016, 5:19pm UTC](https://boards.straightdope.com/t/do-lotto-winners-really-lose-it-all/763553/88 "2016-08-29T17:19:32Z")
> [@SigMan](#): > > Nothing scientific about it but where the odds were millions to 1 I made my odds better. No you didn’t. It was random chance. ---
**Author:** ![SigMan](https://avatars.discourse-cdn.com/v4/letter/s/13edae/32.png) [@SigMan](https://boards.straightdope.com/u/SigMan)\ **Post date:** [August 29, 2016, 5:44pm UTC](https://boards.straightdope.com/t/do-lotto-winners-really-lose-it-all/763553/89 "2016-08-29T17:44:13Z")
Then I call it dumb luck. ---
**Author:** ![Canadjun](https://avatars.discourse-cdn.com/v4/letter/c/76d3ee/32.png) [@Canadjun](https://boards.straightdope.com/u/Canadjun)\ **Post date:** [August 29, 2016, 5:47pm UTC](https://boards.straightdope.com/t/do-lotto-winners-really-lose-it-all/763553/90 "2016-08-29T17:47:45Z")
> [@SigMan](#): > > Then I call it dumb luck. Yup! ---
**Author:** ![bump](https://avatars.discourse-cdn.com/v4/letter/b/7c8e57/32.png) [@bump](https://boards.straightdope.com/u/bump)\ **Post date:** [August 29, 2016, 6:16pm UTC](https://boards.straightdope.com/t/do-lotto-winners-really-lose-it-all/763553/91 "2016-08-29T18:16:38Z")
> [@moojja](#): > > Well, the tricky part is to make sure you die right after you spend the 5 dollars. 🙂 Sure, but surely these acquaintances of yours aren’t really planning on that? And they do realize that their children and other heirs can inherit what they don’t spend, right? It seems kind of self-centered to try and spend it all before they die; I’d think that whatever little joy I could personally eke out of spending everything before I die would be outweighed by the notion that I’d left my sons some sum of money that could help them in some fashion, or maybe allow them to do something they wouldn’t otherwise have the means to do. ---
**Author:** ![Whiskey\_Dickens](https://avatars.discourse-cdn.com/v4/letter/w/9fc348/32.png) [@Whiskey\_Dickens](https://boards.straightdope.com/u/Whiskey_Dickens)\ **Post date:** [August 29, 2016, 9:20pm UTC](https://boards.straightdope.com/t/do-lotto-winners-really-lose-it-all/763553/92 "2016-08-29T21:20:34Z")
In case you haven’t heard of Jack Whittaker,[take a wander down misery lane](http://www.bloomberg.com/news/articles/2012-12-13/lottery-winner-jack-whittakers-losing-ticket). ---
**Author:** ![Chimera](https://avatars.discourse-cdn.com/v4/letter/c/8e8cbc/32.png) [@Chimera](https://boards.straightdope.com/u/Chimera)\ **Post date:** [August 29, 2016, 9:45pm UTC](https://boards.straightdope.com/t/do-lotto-winners-really-lose-it-all/763553/93 "2016-08-29T21:45:34Z")
> [@Whiskey\_Dickens](#): > > In case you haven’t heard of Jack Whittaker,[take a wander down misery lane](http://www.bloomberg.com/news/articles/2012-12-13/lottery-winner-jack-whittakers-losing-ticket). Yeah, but that’s because he was a stupid fucker. Carrying around hundreds of thousands of dollars in his car on a regular basis, visiting strip clubs and casinos. Gambling + Drugs + Alcohol + Large Amounts of Cash = Stupid ---
**Author:** ![HeyHomie](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/heyhomie/32/207_2.png) [@HeyHomie](https://boards.straightdope.com/u/HeyHomie)\ **Post date:** [August 29, 2016, 10:26pm UTC](https://boards.straightdope.com/t/do-lotto-winners-really-lose-it-all/763553/94 "2016-08-29T22:26:04Z")
I’ve said it before in threads like this, and I’ll continue to say it: There is not a problem I have that cannot be solved with a tremendous influx of cash. Medical problems? Give me a hundred million and I can hire the best doctors in the world. Weight problems? I can hire a chef and personal trainer. Marriage problems? I can afford marriage counseling. I’ve been playing the lottery since age 16, and I truly believe that if I won, I would _not_ become a statistic. Before the ink was dry on the check I’d have been on the phone with a lawyer, a fiduciary, an investment counselor, and all manner of other people smarter than I am about these things. There’s also the fact that my tastes aren’t particularly extravagant to begin with. I have no need for mansions and yachts and whatnot. Give me a nice place in the country and a few sweet toys and I’m good to go. ---
**Author:** ![SigMan](https://avatars.discourse-cdn.com/v4/letter/s/13edae/32.png) [@SigMan](https://boards.straightdope.com/u/SigMan)\ **Post date:** [August 29, 2016, 10:30pm UTC](https://boards.straightdope.com/t/do-lotto-winners-really-lose-it-all/763553/95 "2016-08-29T22:30:03Z")
> [@HeyHomie](#): > > Give me a nice place in the country and a few sweet toys and I’m good to go. Amen. I’m not interested in flaunting wealth. 🆒 ---
**Author:** ![MrSquishy](https://avatars.discourse-cdn.com/v4/letter/m/b9e5f3/32.png) [@MrSquishy](https://boards.straightdope.com/u/MrSquishy)\ **Post date:** [August 29, 2016, 11:10pm UTC](https://boards.straightdope.com/t/do-lotto-winners-really-lose-it-all/763553/96 "2016-08-29T23:10:19Z")
> [@iljitsch](#): > > … > If you’re poor, it’s not even that insane to spend a little money on lottery tickets. $10 is not going to make your life better in a meaningful way, but winning $100k or even $10k could make a profound difference. Of course you don’t want a **one in ten million chance of a hundred million** but a **one in ten thousand chance of 100k** in that case. Assuming the tickets are less than $10 each, I’d buy both of those any day of the week! I’m not that good at math though… ---
**Author:** ![Whiskey\_Dickens](https://avatars.discourse-cdn.com/v4/letter/w/9fc348/32.png) [@Whiskey\_Dickens](https://boards.straightdope.com/u/Whiskey_Dickens)\ **Post date:** [August 30, 2016, 1:34am UTC](https://boards.straightdope.com/t/do-lotto-winners-really-lose-it-all/763553/97 "2016-08-30T01:34:19Z")
> [@Chimera](#): > > Yeah, but that’s because he was a stupid fucker. Carrying around hundreds of thousands of dollars in his car on a regular basis, visiting strip clubs and casinos. > > Gambling + Drugs + Alcohol + Large Amounts of Cash = Stupid He was a stupid fucker who managed to become a multi millionaire through hard work? Or is it that massive amounts of money change people significantly, and calling him a stupid fucker is the lazy way to try to understand? ---
**Author:** ![Smapti](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/smapti/32/17938_2.png) [@Smapti](https://boards.straightdope.com/u/Smapti)\ **Post date:** [August 30, 2016, 1:54am UTC](https://boards.straightdope.com/t/do-lotto-winners-really-lose-it-all/763553/98 "2016-08-30T01:54:45Z")
> [@Chimera](#): > > Well, here’s how I describe winning the lottery (not that I have, but hopefully 😉 ) > > \*\*\*Imagine that everyone you know, everyone who knows you, knows of you or otherwise has any reason to remember your name is brought into a stadium. There, on the big screen, your current picture is put up on the screen for all to see and it is announced that you’ve won $50 million dollars. > > But they aren’t the only people there. The rest of the audience are conmen, criminals and lowlifes who make their living through fraud. They all get to see your name and picture too. > > How do you live your life after that happens?\*\*\* I get my direct deposit set up, go home, and carry on with my life. ---
**Author:** ![Chimera](https://avatars.discourse-cdn.com/v4/letter/c/8e8cbc/32.png) [@Chimera](https://boards.straightdope.com/u/Chimera)\ **Post date:** [August 30, 2016, 3:23am UTC](https://boards.straightdope.com/t/do-lotto-winners-really-lose-it-all/763553/99 "2016-08-30T03:23:18Z")
> [@Whiskey\_Dickens](#): > > He was a stupid fucker who managed to become a multi millionaire through hard work? Or is it that massive amounts of money change people significantly, and calling him a stupid fucker is the lazy way to try to understand? Getting close to an insult there, and unnecessary. He visited strip clubs and casinos using large amounts of cash, was known to carry large amounts of cash, and after having several hundred thousand stolen out of his vehicle, and the whole “strippers trying to rob him”, he continued to do this shit. He is stupid, because he made himself Mark #1 and never learned a single lesson. ---
**Author:** ![iljitsch](https://avatars.discourse-cdn.com/v4/letter/i/77aa72/32.png) [@iljitsch](https://boards.straightdope.com/u/iljitsch)\ **Post date:** [August 30, 2016, 6:02am UTC](https://boards.straightdope.com/t/do-lotto-winners-really-lose-it-all/763553/100 "2016-08-30T06:02:06Z")
> [@bump](#): > > It seems kind of self-centered to try and spend it all before they die; Sure, but how is that a bad thing? I find it really annoying that I have to save a lot of money for retirement and more than likely will end up dying with a good portion of that in the bank, and probably also a house that’s paid off. I would probably feel somewhat differently if I had kids to leave the money/house to, but only somewhat. I plan on living a good long while so when I die at 80 or so those kids would be about to retire themselves and not really need the money anymore (I’d raise them smart enough to not depend on an inheritance for their own retirement). Basically the inheritance system means money goes from very old people to medium-old people, leaving the young people pretty much out of the loop. If you really want to give your kids stuff, do it while you’re still alive to see them enjoy it and while they’re still young enough that it makes a difference in their lives. I’m also very annoyed with the people who want to reduce or get rid of estate taxes. If you have to pay taxes anyway, doing it after you die is a pretty sweet deal! [Previous page](https://boards.straightdope.com/t/do-lotto-winners-really-lose-it-all/763553.md?page=4) [Next page](https://boards.straightdope.com/t/do-lotto-winners-really-lose-it-all/763553.md?page=6)