I recently compiled a list of fun facts about the lottery that maybe you weren’t aware of. But for the most part, it was either a positive take on the lottery or just a matter-of-fact take on it. This article promises to get a little bit darker. This one is going to deal with the worst-case scenarios when people win the lottery.
I recommend that you take this reading as a warning, rather than the “Elephant in the room” that nobody wants to talk about. These true accounts of lottery winners could give you foresight into what to do when your good fortune comes one day.
First, the most likely but lesser-talked-about outcome is the effect your fortune will have on those around you. Family and friends will likely view you as a source of income if they know you’ve won, particularly if it’s a large amount.
Lottery winners have discussed how friends who they’ve known for years tried to scam them out of money. Family and friends who want a free ride are willing to drive you broke financing a better life for them. Still others in your inner circle will shun you, or even conspire against you if you don’t give them what they want (more on that later).
Next, an obvious fact about winning the lottery is the number of people who go broke after they win huge sums of money. A commonly discussed statistic is that about 70% of people who win the lottery go broke and/or file for bankruptcy within less than 5 years of winning massive amounts of money.
The reason for this is obvious: reckless spending and poor financial decision-making are the leading contributors to this trend. People who maybe never had access to large sums of money, as well as people who essentially count on the lottery to provide their retirement also tend to be undisciplined.
And surprisingly, it’s not just reckless spending on things like cars, houses, and other lavish expenditures. Many past winners went broke because of their generosity. Past winners’ desire to help family and friends, donate to charities, further the causes for animal rights, advancements in medicine, etc, have caused some to wake up one morning to face the reality that they were broke.
And this does not take into account what effect you’re bagging a sudden windfall will have on your relationships with family and friends. Some past winners have stated that winning the lottery was the worst thing that could have happened to them.
The worst and most fearsome fact of all is that past lottery winners have been abducted, blackmailed, and even killed once they won their fortunes. Lottery winners who have lost everything have gone so far as to commit suicide. The specific facts surrounding each instance differ from case to case. But the victim is usually victimized by somebody they know, or by somebody who is aware that the winner came into a fortune.
A 20-year-old man was killed during a home invasion when masked intruders entered his home demanding money – while his kids were present. An Illinois man was shot to death by his sister-in-law and her boyfriend after trying to get money. A Florida man was killed by a woman whom he considered a confidant. In addition to murders, lottery winners have been the victims of scams, harassment, and, as already mentioned, suicide after losing everything.
This disturbing fact about lottery-related homicide has prompted many to argue that the requirement to publicly identify oneself as a multimillion-dollar winner is a potentially dangerous requirement. Florida has since changed the requirement that winners of $250,000 or more to identify themselves upon receiving their jackpots. Rather, they have the option to wait 90 days after they’ve received their winnings before they are identified. This gives them time to plan for their newfound fame. Other states have removed the mandate that requires winners to identify themselves.
The reason that states require winners to identify themselves is that the players are everyday individuals who won these jackpots randomly. There is no shady business going on that could lead to claims of corruption. Multiple murders are a persuasive argument against this policy. Florida amended its policy, but many state governments are still actively discussing whether or not this change is necessary. I find that it could come down to whether or not a winner in a state with identification is required gets murdered before the state changes the requirement. That’s what happened in Florida.
I’m the first Yay!