People who have won in the lottery think that their cash is limitless while unaware of their reckless spending habits.
Even former winners faced tragic consequences in connection with their sudden wealth and fame that also disappeared in a flash. As a warning to you in case you’ve just won big in the lottery, try not to follow in the footsteps of the following former winners who blew all of their fortune. This entry was posted in Millionaires & Billionaires and tagged bankruptcy, lottery, lotto, luxury, millionaires September 30, 2015 by Admin. What is a Fine High Living?Great estates, mansions, fast cars, jewelry, luxury, wealth, money, celebrities, the rich and powerful are all covered here in our Fine High Living site.
There are millions a€“ and, in this most recent case, more than a billion -- reasons for people to play lotteries, but some of the biggest winners have lost it all, including their lives.
The three winning tickets from Wednesday's $1.58 billion Powerball jackpot were sold in states where the laws require the winners to reveal their identities, which some people see as a potential road to disaster. Dampier and his then-wife won an estimated $20 million jackpot from the Illinois Lottery in 1996.
He was kidnapped in 2005 by his sister-in-law Victoria Jackson and her boyfriend, Nathaniel Jackson.
AP PhotoThis April 13, 2006, file photo, shows Sandra Hayes of Florissant, Mo., who split a $224 million Powerball jackpot with a dozen co-workers in 2006. In one instance where an office pool resulted in millions, Sandra Hayes split a Powerball jackpot of $224 million with a dozen co-workers in 2006. She said, according to The Associated Press, that it resulted in a $6 million lump sum, but also led to friends turning into enemies. A couple who won a $34 million jackpot in Kentucky in 2000 ended up living separate lives in separate mansions before their deaths. Florida LotteryIn this undated photo shows Florida lottery winner, Abraham Shakespeare, who won the lottery on Nov. He went from being a janitor to a multimillionaire, but he was found dead three years after his win.
Shakespeare was 47 when he won a $17 million jackpot in Florida in 2006 and proceeded to spend or give away much of his money in the next two years. He was then befriended by a woman named Doris "Dee Dee" Moore, whom authorities alleged kidnapped him and later killed him after swindling him out of his remaining money.
After the ensuing investigation, police said he was shot twice in the chest sometime in April 2009, but he wasn't reported missing until November of that year.
Shakespeare's death has been cited by financial advisers as a reason lottery winners should be allowed to remain anonymous. One of Jack Whittaker's Christmas presents in 2002 was bigger than the others: a $315 million Powerball jackpot.


He had legal complaints made against his construction company that led to a series of lawsuits, which he said led to drinking as consolation. He shared his wealth with his granddaughter Brandi Bragg, which brought her unwelcome attention. A mysterious collapse that a medical examiner later ruled was homicide by cyanide brought a criminal end to what appeared to be a story that looked like an example of the American Dream.
In 2012, he won $1 million from a scratch-off lottery but died the day before he was issued a check for his cash-out payment of $424,449. At first his death was ruled to be of natural causes, but Tampa's WFTS-TV reported in compilation that further tests were done, at the request of unspecified relatives, that later determined he had a lethal dose of cyanide in his system at the time of his death. No one was ever charged in his death, and a probate court ruled in 2013 that his widow would receive one-third of his fortune while his daughter would receive the other two-thirds, ABC 7 in Chicago reported at the time.
He had just been fired from a telecommunications company in Florida and needed money for back surgery, so the then-46-year-old divorced father opted for the $41.4 million cash lump sum. The Broward Palm Beach New Times reports that he spent money on a home in Palm Beach, a Lamborghini, a Lear Jet, a limo business, a fiber optics company and three race horses.
Whatever Happened To 2009 Mega Millions $75.6 Million Winner Joe Denette?Do You Really Have To Reveal Your Identity? OPEN any newspaper or news website and after a while you'll start to read stories about lottery losers. It seems there's no end to the number of winners who manage to dig themselves a big money pit and never get out.
What I did was remarkably simple - and unscientific, since there's not much statistics around to get any firm ideas.
I figured since many big-money losers are fodder for the news organisations, pretty much every big lotto winner who crashed would appear on the net somewhere. I searched the first 10 pages in each phrase, restricted them by date and removed duplicates. Then I looked up the number of lotteries that regularly paid out $1 million and more, as well as those who paid more once a week. Gayle Zolaturiuk won $30 million in a 2013 Lotto 649 jackpot, but hasn't appeared in our losing figures column yet. While that's much higher than people who go broke for other reasons (.03% for the USA for 2013), we must remember lottery winners are usually people who are not used to handling large sums of money, nor used to getting advice from financial experts. Overall, there are a lot less broke winners than you would expect from the blaring headlines. It's important you don't believe everything you read, but examine it with a bit of common sense.
The lottery is one of life's most extraordinary opportunities, giving the biggest windfall for the smallest amount of money.


And as always, remember to take the right advice when you win so you don't fall into the common traps. All original content copyright © 2016, Ken Silver, PO Box 22-183, 1 Ganges Rd, Khandallah, Wellington, NZ. They also spend their winnings on parties, traveling, gambling, or just give their money away to friends as a way to share their bounty. Probably a few times at work when your boss makes you do something tedious, or when you can't afford that vacation to Europe you've been meaning to take.
The couple moved to Tampa, Florida, where he invested some of his winnings, according to ABC Tampa affiliate WFTS-TV.
They were arrested three days after Dampier was found dead in Nathaniel Jackson's van, WFTS reported. The Sun Sentinel reported that he bought a Mount Vernon-type mansion in Kentucky and she bought one near the Ohio River. Her cause of death was listed as unknown but Whittaker believes it was because of a curse from the lottery. He ended up living in a storage unit surrounded by "dirty clothes, rotting food," according to the paper. You'll be hounded by stories of winners who have fallen on the scrapheap and are desperately in debt after two years (which seems to be a common period for wins of up to $10 million). There are a LOT of duplicate items covering each losing lottery winner, so that took a little time. More often than not, many winners make the mistake of thinking that they have more money than they actually have.
Where the rest of that money is, we don't know," Hillsborough County Sheriff's Office spokesman J.D.
So they don’t bother to save up or invest their winnings, or invest their money on the wrong ventures.
In addition, many countries put high taxes on lottery winnings and many other prizes from gambling.
For these former lottery winners who have lost it all, their money went as quickly as it came.



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