Interesting article in Nov. 2017 Money

Reply #18

LiveInGreenBay — Tue, 12 Dec 2017 23:58:16 GMT

Anyone here who wins a major lottery jackpot and stays in your neighborhood raise your hand.

Reply #17

KY Floyd — Tue, 12 Dec 2017 22:34:03 GMT

Your reasoning would make sense if the study just said that one of the neighbors of a lottery winner is likely to declare bankruptcy within a few years of the win, but unfortunately for your reasoning that's not what the study said.

The study said that it's more likely that a neighbor of a lottery winner will declare bankruptcy within a few years of the win than neighbors of people who haven't won the lottery. It also found that the difference increases as the size of the prize increased.... [ More ]

Reply #16

BobP — Tue, 12 Dec 2017 08:43:24 GMT

I wouldn't put much stock in this kind of report. It's like those reports people with cancer ate hot dogs, is not proof hot dogs gave them cancer. If the national bankruptcy rate is 1 in 55 and most home owners would consider themselves to have what, four, eight, ten neighbors? Isn't it reasonable 1 in 6 or so lottery winners would have a neighbor who went bankrupt? Ok, so the lottery winner bought fancy landscaping, wife tells me to go mow the lawn, I'm grateful I don't have to prune all those... [ More ]

Reply #15

Ron5995 — Sun, 10 Dec 2017 23:13:48 GMT

Another reason could be neighbors seek a big win too. Heavily gambling on lottery, at casinos, etc. Didn't read the report, so maybe that was already mentioned.

One often hears the phrase, No one ever wins or some variant (ie. no one around here ever wins) in regards to the lottery. So imagine living near someone who has won even a modest amount, such as $50K, $100K, $250K, etc on a lottery ticket. Suddenly, the perception changes.

Winning seems easier when others nearby already have won b... [ More ]

Reply #14

Raven62 — Sun, 10 Dec 2017 22:47:10 GMT

Why Lottery Winners Make Dangerous Neighbors:

http://time.com/money/4503078/powerball-jackpot-lottery-winner-neighbors-bankrupt

Reply #13

Teddi — Sun, 10 Dec 2017 22:31:23 GMT

Instead of getting a feeling why don't you just read the actual report. Wouldn't it be easier and smarter to read the report BEFORE making assumptions about what you THINK it might contain and how you THINK how they gathered their data? Or is that just me

Reply #12

Teddi — Sun, 10 Dec 2017 22:07:19 GMT

The study isn't a new one as we discussed it here over a year ago. All the sources and data used were provided by the study and ridiculously easy to obtain, for all those who don't take issue with reading instead of simply jumping on the bandwagon of claiming fake news for everything they can't be bothered to look up. Unlike the Bowling Green massacre touted by Corpse Bride, this is something that actually existed so the details are there for all to see.

The study itself only included lottery... [ More ]

Reply #11

lejardin — Sun, 10 Dec 2017 20:48:34 GMT

hahahahahahahahahahaha good one Hearsetrax! And LiveinGB, you are probably right about the lawsuit lol.

Reply #10

LiveInGreenBay — Sun, 10 Dec 2017 14:58:54 GMT

Given the mentality of juries now days, I wouldn't be surprised if one of the neighbors sued and won a substantial amount. They forced me to buy those toys. LOL

Reply #9

KY Floyd — Sun, 10 Dec 2017 02:59:51 GMT

Bankruptcies are public records. Knowing where the lottery winners live is probably the most challenging part of it.

The basic idea is old news. I don't remember much detail, but I saw an article about a correlation between lottery winners and neighbors filing for bankruptcy quite a while back. There's an online article from August that might be the one CoinToss saw, and it's based on a study (that wasn't done by Money) published in October 2016. You can read the abstract and download the ful... [ More ]

Reply #8

realtorjim — Sat, 09 Dec 2017 22:06:42 GMT

I believe fake news is becoming passe. 'Alternate truth' seems more fitting today.

Reply #7

DELotteryPlyr — Sat, 09 Dec 2017 16:27:05 GMT

Yes you are correct that this information is available. I guess I would have wanted to see if they listed any sources or mentioned how they located the information. In today's reporting/press ect its rare that actual work is done for a article. And I would also think they would mention how they located that information given all the 'fake news' claims being tossed about.

Reply #6

Coin Toss — Sat, 09 Dec 2017 01:45:46 GMT

Raven62, Edessa, JeffLebowski, agree on all points.

DELotteryPlyr,

Such data is not at all hard to find out in this day and age.

Reply #5

DELotteryPlyr — Fri, 08 Dec 2017 23:28:06 GMT

Interesting, how did they KNOW the neighbors filed BK? And how many instances did they see this? I get the feeling they came across it once or twice and extrapolated it to apply to most Jackpot winners.

Reply #4

hearsetrax — Fri, 08 Dec 2017 13:57:12 GMT

Reply #3

JeffLebowski — Fri, 08 Dec 2017 12:41:33 GMT

Social instinct is a dangerous thing in many ways... But I still can understand such neighbours. Being able to control oneself in such a situation is more than just challenging..

Reply #2

eddessaknight — Fri, 08 Dec 2017 11:29:13 GMT

A significant revelation, Coin, for inquiring students of human nature or gaming psychology, wouldn't you think?

Good Luck Good Night

EddessaKnight

Reply #1

Raven62 — Fri, 08 Dec 2017 11:25:10 GMT

Trying to keep up with the Joneses by living above one's means will have that negative social effect.

Interesting article in Nov. 2017 Money

Coin Toss — Fri, 08 Dec 2017 04:54:39 GMT

The Nov. 2017 issue of Money had an article about Powerball. Most of what was in the article were topics already discussed on LP but the last item was a little different.

That part was about bankruptcies of neighbors of jackpot winners. It mentioned that when jackpot winners male purchases of things they previously couldn't afford, the neighbors do the same, despite mot having won a jackpot.

I'm sure that's not exclusive to powerball jackpots.