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who know the statistics of lottery winners who go broke

Topic closed. 17 replies. Last post 9 years ago by Coin Toss.

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Coin Toss's avatar - shape barbed.jpg
Zeta Reticuli Star System
United States
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January 17, 2006
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Posted: April 19, 2008, 9:53 am - IP Logged

I think it's because, they see a lottery win as not really being earned. I don't agree with that train of thought, but I think many people feel that way, so they don't see anything wrong in begging for other peoples money if they win the lottery.

Good insight, ThatScaryChick.

Those who run the lotteries love it when players look for consistency in something that's designed not to have any.

Lep

There is one and only one 'proven' system, and that is to book the action. No matter the game, let the players pick their own losers.

    GamerMom's avatar - tails

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    April 21, 2008
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    Posted: April 25, 2008, 9:49 pm - IP Logged

    I bet almost all of them took the payout rather than the annuity. I think an annuity would be safer.  That way you wouldn't be as pressured to give to so many friends/relatives/charities.  I would be like..oh well I only get so much every year and my financial advisor has it all planned out for me, sorry.

      Coin Toss's avatar - shape barbed.jpg
      Zeta Reticuli Star System
      United States
      Member #30470
      January 17, 2006
      10351 Posts
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      Posted: April 26, 2008, 9:43 am - IP Logged

      I bet almost all of them took the payout rather than the annuity. I think an annuity would be safer.  That way you wouldn't be as pressured to give to so many friends/relatives/charities.  I would be like..oh well I only get so much every year and my financial advisor has it all planned out for me, sorry.

      GamerMom

      It's not that easy. When people take an annuity they sometimes wind up selling it a lump sum to a company that buys annuities. When they do that though, they get pennies on the dollar.

      Therre's a thread in in the News forum right now that mentions a couple who did this. (The thread is about a tax fraud case, but mentions it).

      http://www.lotterypost.com/news/174058

      Those who run the lotteries love it when players look for consistency in something that's designed not to have any.

      Lep

      There is one and only one 'proven' system, and that is to book the action. No matter the game, let the players pick their own losers.