The Lotto's Biggest Winning Losers

LOTTO'S BIGGEST WINNING Losers 44% of lottery winners spend their entire winnings within 5 yearsS. The average American earns less than: N The average American consumer spends:IN $25,000 $49,648 a year a year on all expenses 13,400 according to the BBC a year S (average American consumer is defined as a household of 2.5 people) a single person in APPROXIMATELY $17,926.52 BEFORE TAXES Britain can live on LOTTO Losers even when they win big, they spend bigger. Michael Carroll WINNINGS E9.7 MILLION What happened next? $15.4 MILLION 2002 2003 by the end of the year, He was smoking $2,000 of crack cocaine every day His wife left him and took their daughter He slept with four prostitutes a day (his claim) 2004 Carroll was jailed for five months after failing to comply with a drug treatment order, imposed as part of a sentence for cocaine possession. What his money could have bought: 7 Days of partying How long did his money last? with Beyonce 95 New Ferrari 360s (2002 -2 door spider convertible) 123.2 MILLION MEALS for needy 8 YEARS families HOW DID HE SPEND HIS MONEY? WHERE IS HE NOW? 5,000,000 Family and Friends $7,650,000 $1,000,000 Gambling $1,530,000 2010 Carroll had moved back into his smaller home and was back to being a 'bin man. €1,000,000 Rangers Football Club $1,530,000 Investment in the club Carroll had this to say: 800,000 Electronic Gadgets $1,220,000 "I'm just glad it's over." E400,000 Cars $600,000 £325,000 House $500,000 £300,000 Parties $460,000 £230,000 Crack Cocaine $350,000 200,000 Jewelry $300,000 £200,000 Swimming Pool $300,000 E100,000 Prostitutes $150,000 60,000 Holidays $92,000 55,000 Legal Fees $84,000 O NEWSPICS LTD Billie Bob Harrell Jr. WINNINGS $32 MILLION FORMER PENTECOSTAL PREACHER 1997 BEFORE TAXES He chose 25 annual checks of $1.24 MILLION What happened next? • Bought a Texas ranch Bought six homes for family members Bought numerous vehicles for himself and family • Loaned his money out to family and friends How much interest could have been earned? What his money could have bought: $19,932,964 in 2013 @ $1,589.50/oz 106,667 the investment would have been worth $169,545,607 ounceš of gold in 1997 @ $300/ oz WHERE IS HE NOW? after just 20 months 985.6 MILLION MEALS for needy families Harrell went Bankrupt Committed suicide WINNINGS IIN Andrew "Jack" Whitfaker $315 MILLION chose a lump sum of $114 MILLION after taxes. 2002 What happened next? He was robbed twice while at a strip club $745,000 losing a total of He was sued by Caesar's Atlantic City for bouncing $1.5 MILLION Jeff Gentner/AP Photo of checks Donated 10% to Christian Charities What his money could have bought: Created his own foundation ( Jack Whittaker Foundation) with$14 MILLION in 2013 @ $1,589.50 / oz 1,050,000 the investment would have been worth ounces of gold in 2002 @ $300 / oz $1,668,975,000 How much interest could have been earned: 2,520 MILLION MEALS for needy families $90,388,399 WHERE IS HE NOW? after just 20 months Whittaker had this to say: Continues to live in West Virginia Divorced and Alcoholic "I wish that we had forn the ticket up" Interest Calculations *If after-tax (taxes 35%) winnings invested in hypothetical 15 year bond at historical rates (6.6%) with taxes paid on earned interest *"If after-tax (taxes 35%) winnings invested in historical 10 year bond at rates (5.2%) with taxes paid on earned interest LOTTO Winners How to do it right Brad Duke WINNINGS $220 MILLION What happened next? chose a lump sum of $85 MILLION after taxes. 2005 May 28, 2005 took home the $85 million lump sum WERBALL $220,300,000 Pey to the Brad Duke HOW DID HE SPEND HIS MONEY? order of Two hundred twenty million, three hundred thousand and 00/100 pn $45,000,000 Safe, low-risk investments (such as bonds) $35,000,000 Aggressive investments (such as oil, gas, real estate) his net worth was $1,300,000 Family foundation $130 MILLION 2008 $143,000 Paid offmortgage, student loans $14,500 Used VW Jetta THE LATEST AND GREATEST LOTTO Winners ROUND THE GLOBE IN THE U.S. SPLIT BY THREE WINNING TICKETS CASH PAYOUT OF March 30, 2012 $640 MILLION $474 MILLION Largest cash and annuity amounts in American lottery history. IN EUROPE IN ITALY ONE WINNING TICKET SPLIT BY 70 PEOPLE SPLIT BY THREE WINNING TICKETS February, 2006 183.5 MILLION $177.7 MILLION-O TWO IN FRANCE ONE IN PORTUGAL $245.5 MILLION USD $237.7 MILLION USD IN ENGLAND Colin and Chris Weir July 12, 2011 was the largest jackpot and single-ticket jackpot in the pan-European EuroMillions October 7, 2006 161.7 MILLION $260 MILLION USD IN GERMANY IN THE NETHERLANDS October 7, 2010 July 10, 2008 £37.6 MILLION £25 MILLION $50.3 MILLION USD $33.4 MILLION USD IN ASIA IN SOUTH AMERICA October 29, 2010 December 31, 2009 Largest prize in South America P741.1 MILLION R$145 MILLION $17.4 MILLION USD $74.2 MILLION USD June 30, 2009 IN AUSTRALIA AUSS106 MILLION SHARED BY TWO WINNING TICKETS $109.2 MILLION USD Sources: http://www.statisticbrain.com/lottery-winner-statistics http://finances.msn.com/saving-money-tips/6887523/6 http://www.swanlowpark.co.uk/savingsinterestannual.jsp http://help.feedingamerica.org/site/PageServer?pagename-giveamea! http://www.cnn.com/2008/WORLD/africa/11/26/barrymore.hunger/index.html http://www.dailyrecord.co.uk/news/uk-world-news/lotto-rich-list-top-10-1260837 http://myfacebook.hubpages.com/hub/Worlds-Most-Expensive-Luxuries-Billionaires-Tays http://www.getrichslowly.org/blog/2009/07/14/the-spending-habits-of-the-overage-american http://www.huffingtonpost.com/mobileweb/slideshow/1693475/238851/icid-hp .comedy gallery PRESENTED BY: Casinog http://www.celebritynetworth.com/articles/entertainment-articles/7-expensive-toys-extremely-rich http://www.businessinsider.com/romney-dressage-cost-expensive-olympics-ann-rafalca-horse-2012-8 http://www.dailymail.co.uk/news/article-1249209/Lotto-lout-Michael-Carroll-dole-squandering-millions.html http://www.money.co.uk/article/1002156-how-the-lives-of-10-lottery-millionaires-went-disasterously-wrong.htm Calculations of "What his money could have bought:", based on winning amount, not amount received after taxes. http://www.playhugelottos.com/en/lottery-news/orticle/158/the-top-24-lottery-jackpot-wins-in-the world-ever.html http://my.mmosite.com/444795/blog/item/lotto_winner goes_back_ to_being a_binman_ofter_blowing 10million_on_drugs_and_hookers.html http://newsfeed.time.com/2012/11/28/500-million-powerball-jackpot-the-tragic-stories-of-the-lotterys-unluckiest-winners/slide/the-winningest-losers Interest Calculations "If after-tax (taxes 35%) winnings invested in historical 10 year bond at rates (5.2%) with taxes paid on earned interest "If after-tax (taxes 35%) winnings invested in hypothetical 15 year bond at historical rates (6.6%) with taxes paid on earned interest