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With a $338 million Powerball ticket having been sold in New Jersey -- the fourth-largest jackpot in Powerball history -- it's a good time to remember that the sudden gains of a lottery windfall can be fleeting. Imagine, for instance, winning $10 million and having almost none of it left less than a decade later.
What remains of her windfall is in trust for her six children; the money will become available when they turn 26. That other stuff included vacations in Cancun, Florida, Las Vegas, California, and the Caribbean, as well as four cars: a Hummer, a Mustang, a Dodge Charger and a custom Cadillac Escalade. Tirabassi was a single mother, recently off welfare and newly employed as a personal care provider, when she struck it rich on Easter Weekend in 2004. Tirabassi's husband, Vinny, who brought three kids of his own to the marriage, shares her stoicism about the couple's lost fortune.
Tirabassi's experience stands in contrast to that of Sandra Hayes, who pocketed around $6 million when she and a dozen coworkers split a $224 million Powerball jackpot in 2006.
Like Tirabassi, Hayes went on a spending spree -- including a boat, an Escalade and a Mercedes -- but she also paid off her mortgage and student loans, and was leery about handouts to friends and relatives.
Hayes sounds as though she might have taken lessons from Six Tips on How to Avoid Squandering a Financial Windfall. Photo: In this photo provided by the Michigan Lottery, Fred Topous, Michigan Mega Millions jackpot winner, displays his lucky ticket on June 17, 2008 in Lansing. In 1969, voters from the Garden State approved a lottery system, and by 1971, the first drawing had been held.
Photo: Powerball winners Celeste and Joseph Tamburello display a ceremonial check for $70 million from the New Jersey Lottery on March 26 in Lawrenceville.
Photo: Jeffrey Erb, general manager of Main Stop, and Linda Freeworth, manager of Lyons Main Stop Citgo, receive a check from the Ohio Lottery's Marie Kilbane, right, in the store in Lyons, Ohio. California instituted its lottery in 1984, when it was looking a method for increasing spending on education without raising taxes. Photo: On June 22, 2005, after California joined the Mega Millions club, patrons lined up to purchase the newly available lottery tickets for the first time -- as well as Super Lottos, scratchers and other California Lottery games.
Since the Pennsylvania State Lottery began, it has steered $20.6 billion to a variety of causes, but its profits have primarily been funneled into an elderly benefits fund.
One Georgia resident was part of the largest jackpot in the history of the American lottery, winning half of $390 million on February 18, 2006.
Photo: Mega Millions winners Margaret, left, and James Jones, right, embrace as they hold an oversize replica of their $77,744,832.
Government Use: Education, state general fundThe Texas Lottery began operating in 1992, just a year before Georgia. Florida's lottery benefits the state education trust fund, to which $20 billion has gone since system began operating in 1987.
In 2009, the Massachusetts lottery paid out roughly $3.2 billion in prizes to lottery winners, making it the second highest paying state in the country. Photo: Judith Zahn of Hatfield, receives a giant check from Massachusetts State Treasurer Tim Cahill at the Massachusetts Lottery Commission Headquarters on July 5, 2007, in Braintree, Mass. Government Use: EducationBesides having the largest lottery system in dollar terms in the country, New York has one of the richest histories of government-run gambling. A weekly review of the Mega Millions and Powerball lotteries, plus an analysis of what numbers are overdue and best combinations you should pick. Last Friday the 13th proved lucky for a single ticket-holder in Ohio who won the $202 million Mega Millions jackpot, matching all six numbers drawn – the white balls 17, 18, 31, 35 and 59, plus the gold Mega Ball 9. In addition to the jackpot winner, another ticket sold in Ohio won $1 million by matching the five white balls; a Match 5 winning ticket was also sold in California.


Based on an analysis of the past 50 Mega Million drawings – looking at hot and cold numbers – it looks like the following numbers are “overdue”: 55, 73, 22, 42, 23, 43. There were no jackpot winners Saturday, but 505,495 players across the nation won more than $4.1 Million in prizes. Based on an analysis of the past 50 Powerball drawings – looking at hot and cold numbers – it looks like the following numbers are “overdue”: 01, 19, 36, 61, 67, 11. A weekly report of strategies and tips for winning the lottery, plus an analysis of what numbers are overdue and best combinations you should pick.
As associate editor, he has written about Occupy Wall Street, the price of Legos, the value of artwork by Thomas Kinkade, and the human cost of making Apple products. Nine years ago, The Hamilton Spectator reports, Tirabassi cashed a check from the Ontario Lottery and Gaming Corp. She was generous with others, too, buying houses and renting them out at low rates, paying people's rent, offering loans for bail and business ventures. As a teenager, she had lived in shelters, and all that money didn't come with instructions.
For more advice, check out these Powerball winners' lessons on how to hang on to your cash, whether you're a millionaire or just trying to make ends meet.
In that time, it has generated more than $16 billion in revenue for the state's education fund. Topous, who  vowed to continue to play the lottery, elected to take a lump sum payment of $33,989,267. Three months later, Sandra McNeil of Morristown was the single-ticket winner of a $211.7 million Powerball ticket. Odds are, you'll have fun!" Since it began in 1974, more than $17 billion in lottery profits have gone to a state education fund. The largest jackpot which included a California resident was a $336 million prize shared with a ticket holder in New York in May 2000. The Whites won the largest prize in the Pennsylvania lottery's history, with an annuity value of $213.2 million. Bishop native Joan Ginther, who now lives in Las Vegas, won $10 million in June 2010 on a $50 scratch-off ticket. Pictured at left is Steve Zahn, Judith's husband, and second from right is Judith's daughter, Hannah. Since the late 1880's, lotteries and raffles have been used to raise funds for regional public works projects. The jackpot had been rolling since it was last won in New York on September 11 by a group of five friends from Yonkers, who shared $106 million.
You can win up to $11 millions every day, and odds of winning the jackpot are similar to those of state-run lotteries.
Tirabassi didn't hire a financial adviser; she didn't even keep close track of her account balance. Recalling the post-winning entreaties of suddenly interested friends, some of whom came asking for favors and then disappeared, Vinny says, "Money doesn't buy you happiness. It wasn't immediately known how many tickets were sold nationwide or who, if anyone, held the winning ticket. In 2006, Michigan joined five other states to found a multistate lottery called The Big Game, which would eventually become Mega Millions. Since 1989, the state lottery association has hosted a game show called Cash Explosion Double Play on Ohio TV. They were given $100,000 for selling the winning ticket for the $267 million Mega Millions drawing.


The largest single-ticket win for a California resident was a $315 million Mega Millions jackpot awarded in November 2005. Currently, about 61% of the roughly $3 billion in annual ticket sales goes to prizes, while 30% goes to the state, and the rest covers expenses. The state has one of the least efficient lottery systems in the country, with 17% of sales going to pay for the cost of operations. Overall, she has won four Texas Lottery jackpots for a combined $21 million, and the last two winning tickets were purchased at the Times Market. In 2009, the state beneficiaries, which include city and town governments, a state arts fund, and a compulsive gambling support group, received only $859 million. Judith Zahn, a nurse at the VA Medical Center in Northampton, Mass., won a $20 million lottery jackpot. New York was one of the first states to begin a state-wide system as well, voting in the program in 1966.
Today, after spending almost all her winnings -- "big house, fancy cars, designer clothes, lavish parties exotic trips, handouts to family, loans to friends" -- she's back in the working class: riding the bus, working part-time, living in a rented house. In 2007, the biggest jackpot in Mega Millions history at the time was shared by ticket holders in New Jersey and Georgia.
The largest jackpot in the state's history went to an individual in the town of Lyons for $267 million.
That remains the third-largest single-ticket prize in history: An Oregon resident won $340 million in 2005 and a Nebraska resident won $365 million in 2006. The Georgia lottery also only returns a third of total sales to the public fund, where the money goes to support education. When the Washington, Ga., couple claimed their prize, worth an annuitized $130 million, they became the second-largest winners in Georgia Lottery history.
In August 2007, one resident won part of a $330 million jackpot, but the winnings were split between holders in three other states.
Because of its late entry into the MUSL, Florida hasn't had a winner whose jackpot was on the scale of some of the others. Since the lottery began in official capacity the following year, more than $36 billion has been raised to fund education.
In May 2000, when it was still called The Big Game, one Michigan resident won half of a $363 million jackpot, the third-largest combined jackpot ever won in a lottery in the U.S. The state didn't begin selling lottery tickets until 1993, making it one of the newest systems in the country.
However, in October, just nine months after joining MUSL, a Florida resident hit the Powerball jackpot and won $189 million. This sum accounts for approximately 13% of all the money that has been raised in the history of U.S.
The largest single-ticket prize in the state went to a couple in Port Huron, who won $208 Million before taxes. Arnold Schwarzenegger proposed a bill which would increase the efficiency of the California Lottery while increasing the percentage of ticket sales that go to state profits. In its first year in operation, the Georgia lottery system sold roughly $1.1 billion in tickets, the most successful entry year on record.



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