When the Lottery Turned People towards Their Demise

There are lots of online casino players that have experienced hell after winning huge lotteries that promised them good things for life. To make the most amount of money, casual players play here while saving time invested in visiting a real casino. If you are also interested in the sphere, it is better to read these true stories for a reality check. 

The cursed win

Stories of rich people winning lotteries are rare, but when it happened, the millionaire went broke eventually. Andrew “Jack” Whittaker, who was already a wealthy person, won a $315 million lottery jackpot through a Powerball prize on 25th December 2012. The resident of Hurricane, West Virginia decided to donate a huge portion of his wealth after choosing a lump sum payout of $170.5 million.

But, soon after his win, his wife filed for divorce, and his granddaughter died under unnatural circumstances. Jack’s dream of helping the needy flushed down as he became an alcohol addict and was robbed twice. Eventually, he faced 400 legal complaints and was drowned by his own luck.

Knowledge is more important than money

In 1990, Alex and Rhoda Toth bought a lottery ticket which fetched them $13 million. But, the winners claimed that the overflowing wealth cost them many friends and few family members. By the end of the millennium, the couple had filed for bankruptcy. Down the road, they were charged with tax frauds making it clear that lottery winners have to understand the tax system before investing their funds.  The legend ended with Alex’s death before facing trial at 60 while his widow served two years in the prison.

Santa from Texas

Billie Bob Harrell Jr. hoped for a better future after winning the Texas Lottery jackpot in 1997. With the help of $1.2 million annual payments, he purchased new cars and homes for his brethren and distributed almost 500 turkeys among the poor. He was considered as the Santa Claus by his mother.

But, life took a turn when his wife decided to separate as strangers were pressurizing them for money. Nearly two years after winning the jackpot, the merciful Santa took his own life. The event made us realize that lack of management can be harmful to even the most innocent ones.

Charity not always works

An immigrant from South Korea named Janite Lee, also an owner of a wigs shop, won $18 million in the Illinois Lottery.

The small-time entrepreneur went on a donation spree while providing money to political candidates and the Democratic National Committee.  The donations eventually turned negative for her as she was unable to pay the annual tax payments of $620,000.

In 2001, she was left with only $700 in her bank account but had a liability of $2.5 million. It was reported that she lost around $350,000 while gambling at casinos throughout the year.

Online casinos and lotteries include a great risk as money may not favor its owner. A person can become a rags to riches story, but the opposite can also happen. You are advised to keep an accountant who can help you in investing your wealth in instruments that help it grow.

Colin Shaw
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Written by Colin Shaw

Colin has been in the finance market for over 20 years and specialises in best business practice to make an organisation profitable. The only man for the job when it comes to numbers and accounts with a keen talent for simplifying finance for the wider market.