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Lottery winner followed careful spending plan

After the Big WinAfter the Big Win: Lottery winner followed careful spending plan
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How one lucky winner spent his new-found fortune

Brad Duke, 34, a manager for five Gold's Gym franchises in Idaho, pocketed a lump sum of $85 million after winning a $220 million Powerball jackpot in 2005. He spent the first month of his new life assembling a team of financial advisors.

His goal: to use his winnings to become a billionaire. Here's what Duke has done with his money so far.

  • $45 million: Safe, low-risk investments such as municipal bonds
  • $35 million: Aggressive investments like oil and gas and real estate
  • $1.3 million: A family foundation
  • $63,000: A trip to Tahiti with 17 friends
  • $125,000: Mortgage retired on his 1,400-square-foot house
  • $18,000: Student-loan repayment
  • $65,000: New bicycles, including a $12,000 BMC road bike
  • $14,500: A used black VW Jetta
  • $12,000: Annual gift to each family member

Did you often buy lottery tickets or was this a one-time thing?

I played the lottery often when I won. I had developed a little numbering system. Since I've won, there's been a lot of numbering systems for lotteries all over the Internet. Before that, there weren't any. I really thought I was going to win. I even wrote it down in my journal in 2002.

How did you develop your system?

How to choose my lottery numbers started through a trial and error process. I just started playing number games with myself about how to capture the most diverse numbers. Then I looked at the most recent Powerball numbers over the last six months and took the set of 15 numbers that were most commonly coming up. My Powerball numbers were going to be those 15. So I starting messing around with it, and my number games got a little more complex and a little bigger. I was starting to win smaller amounts like $150 and $500.

So many lottery winners have sad endings. Did you worry about that?

I've always handled responsibility well. If you accept that check, you accept an amazing responsibility to yourself and whomever you decide to include in it. I was quiet about winning for a month before I decided to come out. During that time, I was getting as much research as I could on existing lottery winners and what their stories were. Most of them lose all the money within a short amount of time. I'm looking at statistics where people in ten years have nothing. In ten years, I wanted to be worth about ten times as much. I think a lot of people who play the lottery are people who live on hope.

What was your first major purchase?

A trip to Tahiti for me and 17 of my friends. At the same time, I paid off my mortgage and student loans. [What was your biggest purchase?] The family foundation was the biggest allotment of money. $1.3 million.

What else did you do with your money?

I wanted to make the most of the opportunity that was given to me, so I put together a team with the intent to reach and maintain a $1 billion status over a particular period of time. I wanted to do it in 10 years, which I knew was aggressive. My team talked me into looking at 15 years. But it looks like we're on track for 12 years. When you do something like that, the more you become worth, the quicker your growth curve is. My total net worth right now is at an unofficial value of $128 to $130 million. We've done very well for the first year and a half.

Brad Duke won a $220 million powerball jackpot in 2005.What about a big new house or a fancy new car?

I guess I'm more worried about spending time on my investments and helping my consulting company along and doing fun things with my family and friends. I will have a new home and a great car at some point, but just not now. The great thing about the lottery was that I get to experience amazing things with people I care about. I started up a consulting company and am employing some people that helped me along the way with my employment. I took my family on a cruise.

You had to have treated yourself to something.

I bought bicycles. I'm probably own upward of 17 bikes. I also bought a 2002 Jetta. I gave my 2005 Jetta to my nephew. So it's the exact same car except for his is white and mine is black.

You had a newer car that you gave to your nephew and you bought an older car?

That's correct. I wanted a black VW Jetta with a black interior. Believe it or not, those are really hard to find. I went to the local dealership and had them track one down for me. They had to go to Texas to get it. It fit my bicycle rack really well.

What happened to your job at Gold's Gym?

I still teach a spinning class there twice a week. I took some time off after the whole thing because everybody had investment opportunities that were the greatest thing since sliced bread, and there were 100 of them every day. So I had to get out of there for a while, but when I went back, the people I'd been teaching for the last 8 years were still the same people, and I was still the same instructor.

Have you given money to members of your family?

One of the first things I did was give everyone in my family the maximum amount without tax consequence. I have all of my nieces' and nephews' college funds set up, and they're set. And there's no debt for anyone anymore. Everybody is happy.

Are you happier since you¹ve won the money?

Absolutely. When it comes down to it, I get to do the things professionally that I've always wanted to do. I get to invent a piece of equipment that I've always been thinking about doing. I get to give back to some people that have given to me over years.

Biggest U.S. lottery jackpots

1. $365,000,000, 2/2006, Powerball
2. $363,000,000, 5/2000, The Big Game
3. $340,000,000, 11/2005, Powerball
4. $331,000,000, 4/2002, The Big Game
5. $315,000,000, 11/2005, Mega Millions

Fortune

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59 comments. Last comment 7 years ago by Road.
Page 1 of 4
Avatar
Greenwich, CT
United States
Member #4793
May 24, 2004
1822 Posts
Offline
Posted: February 28, 2007, 10:25 am - IP Logged

He's been the Anti-Jack so far.  Will it continue?

I would've bought a couple of flashy new cars by now, but I think bikes are more his style.

    Bradly_60's avatar - disney37
    Atlantic Mine, Michigan
    United States
    Member #416
    June 23, 2002
    1613 Posts
    Offline
    Posted: February 28, 2007, 10:35 am - IP Logged

    Awesome story.  Will help me out a lot when I win MM on this jackpot run....haha.

    It is not to often you hear about huge lottery winners actually making sane choices and telling the rest of the world about it.

    Brad

      gocart1's avatar - lighthouse
      da bronx,city island,n.y.
      United States
      Member #30516
      January 17, 2006
      331 Posts
      Offline
      Posted: February 28, 2007, 10:45 am - IP Logged

      his plan sounds good.hope i get the chance to use this same plan friday night with mega millions.good luck to all my LP friends

        Avatar

        Honduras
        Member #20982
        August 29, 2005
        4715 Posts
        Offline
        Posted: February 28, 2007, 11:52 am - IP Logged

        What's happening with all these lottery winners that are certain they are going to win...It is not the first time i hear people say "they knew they were going to win the lotto"...I am glad for him because this is the first time i hear a guy say he had a system he used for the Powerball...

        Anyone knows who are te winners of those 5 Powerball and Big Game's biggest Jackpot ever...I already know Whitaker...

        In the movie "Swordfish" the terrorist (john travolta) tells the hacker (hugh jackman) that 100 or 300 (i can't remember the exact amount) running interest for 15 years amounts to 9 & 1/2 Billion dollars..(I don't know if is true)...

        I am glad for him, this guy knows what he wants and has a plan (well he is a manager after all)...Wonder how he is going to avoid people knowing about it...

         

         

        "Laura Simpson from Great Lakes, Illinois deserves to be rich......."              "She is so rare...."

          Avatar
          New Jersey
          United States
          Member #21206
          September 4, 2005
          912 Posts
          Offline
          Posted: February 28, 2007, 12:11 pm - IP Logged

          What's happening with all these lottery winners that are certain they are going to win...It is not the first time i hear people say "they knew they were going to win the lotto"...I am glad for him because this is the first time i hear a guy say he had a system he used for the Powerball...

          Anyone knows who are te winners of those 5 Powerball and Big Game's biggest Jackpot ever...I already know Whitaker...

          In the movie "Swordfish" the terrorist (john travolta) tells the hacker (hugh jackman) that 100 or 300 (i can't remember the exact amount) running interest for 15 years amounts to 9 & 1/2 Billion dollars..(I don't know if is true)...

          I am glad for him, this guy knows what he wants and has a plan (well he is a manager after all)...Wonder how he is going to avoid people knowing about it...

           

           

          "Laura Simpson from Great Lakes, Illinois deserves to be rich......."              "She is so rare...."

          His representation that he had a system - and no doubt he did - doesn't mean the system worked.   

          The ticket he purchased had a finite probability of winning, no matter how he picked the numbers.

            Avatar
            Greenwich, CT
            United States
            Member #4793
            May 24, 2004
            1822 Posts
            Offline
            Posted: February 28, 2007, 12:22 pm - IP Logged

            His representation that he had a system - and no doubt he did - doesn't mean the system worked.   

            The ticket he purchased had a finite probability of winning, no matter how he picked the numbers.

            I agree.  It's virtually impossible to "prove" that a system works unless you have repeated trials and verifiable results.

              Avatar
              California
              United States
              Member #46824
              October 1, 2006
              270 Posts
              Offline
              Posted: February 28, 2007, 12:42 pm - IP Logged

              If he really had a system, what faster way to increase your money and become a billionaire than to play the system.  There have been quite a few large Powerball Jackpots since he won in May 2005 and I didn't see his system win these drawings. 

              Also, his boast of having a system and saying that when he won there were no systems on the internet and now they are all over the place (as if his win was the catalyst for systems coming of age) rings a litle hollow.

              With all that said, congratulations to him for winning!

                RJOh's avatar - chipmunk
                mid-Ohio
                United States
                Member #9
                March 24, 2001
                17450 Posts
                Offline
                Posted: February 28, 2007, 1:26 pm - IP Logged

                I agree.  It's virtually impossible to "prove" that a system works unless you have repeated trials and verifiable results.

                Winning a jackpot is all the verification he needs.  For all those players coming to LP and asking "has anyone ever won anything using a system?", they have their answer from a jackpot winner and an explanation of how he did it.  As he said, as he messed around with his system he would win a little until he eventually won the big one, most systems don't do that in a life time and his did it once.  If he wins big again it wouldn't prove his system works to most people but just that he's lucky and greedy.

                * Thoses who can, do * 
                * thoses who can't, just talk *
                Roll Eyes 

                  Avatar
                  Coastal Georgia
                  United States
                  Member #2653
                  October 30, 2003
                  1866 Posts
                  Offline
                  Posted: February 28, 2007, 1:27 pm - IP Logged

                  What a refreshing change from the negative press that we see so often with large JP winners.

                  He has a plan and he sticks with it.  Very, Very smart !!!!!

                   

                                                 

                                

                   

                   

                    spy153's avatar - maren

                    United States
                    Member #28409
                    December 15, 2005
                    1198 Posts
                    Offline
                    Posted: February 28, 2007, 1:35 pm - IP Logged

                    12,000. annual payment to family members.

                    wasn't there a girl on here yesterday that said that, and then said it was a homework assignment? HMMMMMMMMMMMM!

                    voir-vous dans mes reves!Cool

                      Avatar
                      Atlanta, GA
                      United States
                      Member #1265
                      March 13, 2003
                      3326 Posts
                      Offline
                      Posted: February 28, 2007, 2:05 pm - IP Logged

                      What a refreshing change from the negative press that we see so often with large JP winners.

                      He has a plan and he sticks with it.  Very, Very smart !!!!!

                      I Agree!  Hats off to him!!!

                      Good luck to everyone!

                        Avatar

                        Honduras
                        Member #20982
                        August 29, 2005
                        4715 Posts
                        Offline
                        Posted: February 28, 2007, 2:21 pm - IP Logged

                        I agree.  It's virtually impossible to "prove" that a system works unless you have repeated trials and verifiable results.

                        What is more important:

                        a) a system that wins you 4of 6's and 5of 6's every draw but never wins you the jackpot or

                        b) a system that wins you 0 dollars every draw but wins you 200 million jackpot every 300 draws or for that matter every 400 draws...

                         

                        It only takes 1 time to win the lottery, only ONe time...YOu could have played the numbers for 5 years without success, but is that One time that matters, that makes all the different, just hope that the jackpot is more than 50 million when you win it...

                        You don't need verifiable results for your system to work, it just need to win you the jackpot that one time...His system works because it won him the jackpot and a very large jackpot too...

                         

                         

                         "Laura Simpson from Great Lakes, Illinois deserves to be rich..."        "She is so rare...."

                          Avatar
                          California
                          United States
                          Member #46824
                          October 1, 2006
                          270 Posts
                          Offline
                          Posted: February 28, 2007, 2:27 pm - IP Logged

                          Winning a jackpot is all the verification he needs.  For all those players coming to LP and asking "has anyone ever won anything using a system?", they have their answer from a jackpot winner and an explanation of how he did it.  As he said, as he messed around with his system he would win a little until he eventually won the big one, most systems don't do that in a life time and his did it once.  If he wins big again it wouldn't prove his system works to most people but just that he's lucky and greedy.

                          From my standpoint if a system only generates one big win then it is LUCK!!!!

                            RJOh's avatar - chipmunk
                            mid-Ohio
                            United States
                            Member #9
                            March 24, 2001
                            17450 Posts
                            Offline
                            Posted: February 28, 2007, 2:35 pm - IP Logged

                            From my standpoint if a system only generates one big win then it is LUCK!!!!

                            From most people standpoint winning a lottery jackpot is "LUCK!" no matter how it's done, winning one more than once is "LUCKIER!".

                            * Thoses who can, do * 
                            * thoses who can't, just talk *
                            Roll Eyes