How these Lottery winners became big losers?
As hard as it will be to win the $1.1 billion first prize in Friday night’s Mega Millions lottery drawing
with odds of acing it at 1 in 302,575,350 — holding onto the money will be a long shot in its own right.
Take Jay Sommers. In 1988, he won some
$5 million in the Michigan state lottery.
These days, Sommers said, “I work as a marine mechanic, fixing boats. I’m a normal guy, working 9 to 5.” Winning the lottery, he added, “ruined my life.”
Jeffrey Dampier won $20 million in the Illinois state lottery in 1996.
He promptly divorced his wife, gave her half the winnings, remarried, had an affair with his new sister-in-law — and wound up shot to death by her.
Ronnie Music Jr. won $3 million in the 2015 Georgia state lottery
only to invest some of his cash in 11 pounds of crystal meth and land behind bars for it.
Evelyn Adams took in $5.4 million via two winning tickets in the 1985 and ’86 New Jersey state lottery.
Then she blew it all on slot machines and risky investments. Reportedly, she currently lives in a trailer.
One thing many unhappy lottery winners have in common is taking advice from less-than-knowledgeable people while being swayed by greedy friends and relatives.
Although a one-time lump sum may be tempting for lottery winners, financial experts say taking a smaller annual payment is often a smarter decision.
whoever wins the billion-dollar lottery on Friday should do everything possible to slow the deterioration. One way to do that is to put a limit on outgoing cash flow.
$1.28 Billion Mega Millions jackpot Winning numbers
Mega Millions Jackpot