Win the lottery? No thanks.

[ARCHIVED THREAD] - Win the lottery? No thanks. (Page 1 of 2)

Posted: 2/6/2006 12:50:46 PM EDT

Interesting statistics on lottery winners as a whole:

If you are a lottery winner with total payouts in excess of $2 million, within 5 years you are:

125 times more likely to be sued. (If this happens your chances are 1 in 1.6 that you will pay some amount to the plaintiff).

93 times more likely to get a divorce.

89 times more likely to be audited.

82 times more likely to end up on social security as your primary income, if it wasn't before your winnings.

72 times more likely to be cited for income tax offenses.

65 times more likely to be arrested for DUI.

62 times more likely to have tax liens applied to your property.

54 times more likely to be arrested for assault or battery.

39 times more likely to be the victim of homicide. (If this happens your chances are 1 in 3 that a relative was the accused and 1 in 5 that a murder for hire scheme was involved).

35 times more likely to be injured as a driver of an automobile in an accident where "alcohol was involved." (Your chances if this happens are 1 in 2 that the automobile's book value was in excess of $65,000 and it was purchased after your lottery win. Chances are 1 in 6 that it was a Ferrari and 1 in 8 that the accident was fatal).

29 times more likely to be arrested for a narcotics related offense. (If this happens chances are 1 in 2 that meth was involved).

26 times more likely to have property seized by tax or law enforcement officials.

19 times more likely to be arrested for violent felony.

6 times more likely to be arrested for murder. (If this happens your chances are 1 in 2.5 that the victim was a relative).

Powerball anyone?

ETA: Source - University of Chicago study, pending publication this year.
ETA: These figures are v. those who played the lottery but lost.

Posted: 2/6/2006 12:51:24 PM EDT

[#1]

As long as I'm legit in whatever I do, I'll take the risk.

Posted: 2/6/2006 12:52:18 PM EDT

[#2]

I'll take my chances

Posted: 2/6/2006 12:53:00 PM EDT

[#3]

All of those can be avoided by using a little common sense,people just dont seem to understand taxes very well.

Posted: 2/6/2006 12:53:25 PM EDT

[#4]

if I win I'll prove you wrong

Posted: 2/6/2006 12:54:25 PM EDT

[#5]

Those are my kinda odds.

Posted: 2/6/2006 12:55:09 PM EDT

[#6]

Quoted:
I'll take my chances

+100,000,000

$'s that is !

LB

Posted: 2/6/2006 12:57:07 PM EDT

[#7]

Sounds like fun!

Posted: 2/6/2006 12:57:09 PM EDT

[#8]

Considering lifestyle of people that typically play in lotteries, I'm not suprised.
A gold plated turd is still a turd.

Posted: 2/6/2006 12:58:44 PM EDT

[#9]

I will take this as a challenge. Now, to win the big one ($88 million as of the drive in today)...

Posted: 2/6/2006 12:59:55 PM EDT

[#10]

I heard a while back that 1/3 of Florida Lotto winners had declared bankrupt.

Posted: 2/6/2006 1:03:31 PM EDT

[#11]

I would think the sample is size is too small, rendering these statistics useless. I'd like to read the actual study (if one exists), and not the conclusions. Basically, I'd like to know EXACTLY how they arrived at these conclusions.

Posted: 2/6/2006 1:03:52 PM EDT

[#12]

Quoted:
I heard a while back that 1/3 of Florida Lotto winners had declared bankrupt.

that's because poeple are dumbasses. they win a couple million and think they're set for life. they take the money in one lump sum, quit their job, and go on a spending spree. within a year or two, all the money is gone, they have no job, and they become a burden on society.

Posted: 2/6/2006 1:04:33 PM EDT

[#13]

Source?

Posted: 2/6/2006 1:06:08 PM EDT

[#14]

Quoted:
Source?

My guess? Somebody's ass.

Posted: 2/6/2006 1:06:53 PM EDT

[#15]

This is more of a study of people who play the lottery rather than the effects of winning a lottery.

Posted: 2/6/2006 1:07:58 PM EDT

[#16]

Most million plus dollar lottery payouts are an annuity over 20 years. A lot of people who get in financial trouble after winning the lottery do so because they spend more than their annual annuity payment.

If there are anymore studies of lottery winners planned, I would like to sign up as a test subject.Trey

Posted: 2/6/2006 1:08:16 PM EDT

[#17]

Quoted:
I heard a while back that 1/3 of Florida Lotto winners had declared bankrupt.

What morons.

Seriously...how fuckin' stupid do you have to be to piss through an amount of money that could keep you and your entire family secure for decades?

No sympathy what so ever. No points given for being a complete moron.

Win the lottery? Here's a tip....

Tell nobody. Period.
Get a good lawyer(s) immediately.
Get a good CPA firm immediately.
Get a good financial planner(s) immediately.
Arrange to meet with them all together and formulate a life long stratagy for the money.
Listen to them and stick to the plan.
Be happy....be rich.

We don't perform our own dentistry, so why would ANYONE who's not well versed in large amounts of money think they can handle it without some serious advice and resources to protect yourself?

Posted: 2/6/2006 1:08:28 PM EDT

[#18]

Tag! From a guy who refuses to pay the "stupid tax."

Posted: 2/6/2006 1:10:25 PM EDT

[#19]

Quoted:
Quoted:
Source?

My guess? Somebody's ass.

I gave it about a 98% chance, but I thought I would ask anyway.

Posted: 2/6/2006 1:13:39 PM EDT

[#20]

Quoted:
Quoted:
I heard a while back that 1/3 of Florida Lotto winners had declared bankrupt.

What morons.

Seriously...how fuckin' stupid do you have to be to piss through an amount of money that could keep you and your entire family secure for decades?

No sympathy what so ever. No points given for being a complete moron.

Win the lottery? Here's a tip....

Tell nobody. Period.
Get a good lawyer(s) immediately.
Get a good CPA firm immediately.
Get a good financial planner(s) immediately.
Arrange to meet with them all together and formulate a life long stratagy for the money.
Listen to them and stick to the plan.
Be happy....be rich.

We don't perform our own dentistry, so why would ANYONE who's not well versed in large amounts of money think they can handle it without some serious advice and resources to protect yourself?

exactly! a lot of problems will arise when someone brags about comong into a large amount of money. "relatives" and "friends" who need money for their sick grandmothers will be coming out of the woodwork.

Posted: 2/6/2006 1:13:59 PM EDT

[#21]

Quoted:
I would think the sample is size is too small, rendering these statistics useless. I'd like to read the actual study (if one exists), and not the conclusions. Basically, I'd like to know EXACTLY how they arrived at these conclusions.

Exactly........a winner is 125 times more likely to be sued than ANY non winner.

Hell when you get divorced and you don't file.......you're getting sued.

Those stats are worse than worthless.

Posted: 2/6/2006 1:16:05 PM EDT

[#22]

Sounds good to me!

Posted: 2/6/2006 1:18:38 PM EDT

[#23]

Powerball= $1 idiot tax

No wonder the "winners" can't handle money.

Posted: 2/6/2006 1:20:44 PM EDT

[#24]

Quoted:
Tag! From a guy who refuses to pay the "stupid tax."

My calculus professor called it a tax on the "mathematically illierate".

Posted: 2/6/2006 1:23:13 PM EDT

[#25]

I'd be willing to risk it

Posted: 2/6/2006 1:24:33 PM EDT

[#26]

I would love a chance to alter those statistics.

Posted: 2/6/2006 1:25:52 PM EDT

[#27]

I would be 100% more likey to buy Class III toys.

Posted: 2/6/2006 1:27:22 PM EDT

[#28]

Did you know that if you post on an internet forum you are 56 times more likely to wet the bed?

Posted: 2/6/2006 1:31:57 PM EDT

[#29]

I would like to see statistics on:

education level before winning

income before winning

marital status and number of times married before

criminal record before

alcohol and drug abuse before

# DUI before

You can bring a stray dog into the house, bathe it, groom it and feed it steak, but it will still shit in the floor.

Posted: 2/6/2006 1:34:09 PM EDT

[#30]

Quoted:
I would think the sample is size is too small, rendering these statistics useless. I'd like to read the actual study (if one exists), and not the conclusions. Basically, I'd like to know EXACTLY how they arrived at these conclusions.

U Chicago statistics draft paper.

Me = U of C alum.

I think you can rely on the stats. It's due for publication this year.

Posted: 2/6/2006 1:34:36 PM EDT

[#31]

Quoted:

Win the lottery? Here's a tip....in order

Tell nobody. Period.
Get a good lawyer(s) immediately.
Get a good CPA firm immediately.
Get a good financial planner(s) immediately.
Arrange to meet with them all together and formulate a life long stratagy for the money.
Cash the ticket
Listen to them and stick to the plan.
Be happy....be rich.

adding my .02

Posted: 2/6/2006 1:36:02 PM EDT

[#32]

How about providing a link to that information?

After all, we know 87.6 per cent of all statistics
are made up.

Posted: 2/6/2006 1:38:08 PM EDT

[#33]

Quoted:
How about citing a source for that information?

After all, we know 87.6 per cent of all statistics
are made up.

I thought it was 37.5 percent.

Others have said it first: it's more a reflection on the sort of people who play the lottery. I'd like to see a similar study done on lottery players who haven't won anything.

Posted: 2/6/2006 1:38:17 PM EDT

[#34]

Quoted:
I would like to see statistics on:

education level before winning

income before winning

marital status and number of times married before

criminal record before

alcohol and drug abuse before

# DUI before

You can bring a stray dog into the house, bathe it, groom it and feed it steak, but it will still shit in the floor.

None of these matter. The stats compare general stats on anyone who answered "yes" to "have played the lottery before" to the stats of winners. I should have pointed this out.

Posted: 2/6/2006 1:39:07 PM EDT

[#35]

Quoted:
How about citing a source for that information?

After all, we know 87.6 per cent of all statistics
are made up.

Yeah. Maybe it was a sample of one, and he did it all!

Posted: 2/6/2006 1:39:23 PM EDT

[#36]

Quoted:
Interesting statistics on lottery winners as a whole:

If you are a lottery winner with total payouts in excess of $2 million, within 5 years you are:

125 times more likely to be sued. (If this happens your chances are 1 in 1.6 that you will pay some amount to the plaintiff).

93 times more likely to get a divorce.

89 times more likely to be audited.

82 times more likely to end up on social security as your primary income, if it wasn't before your winnings.

72 times more likely to be cited for income tax offenses.

65 times more likely to be arrested for DUI.

62 times more likely to have tax liens applied to your property.

54 times more likely to be arrested for assault or battery.

39 times more likely to be the victim of homicide. (If this happens your chances are 1 in 3 that a relative was the accused and 1 in 5 that a murder for hire scheme was involved).

35 times more likely to be injured as a driver of an automobile in an accident where "alcohol was involved." (Your chances if this happens are 1 in 2 that the automobile's book value was in excess of $65,000 and it was purchased after your lottery win. Chances are 1 in 6 that it was a Ferrari and 1 in 8 that the accident was fatal).

29 times more likely to be arrested for a narcotics related offense. (If this happens chances are 1 in 2 that meth was involved).

26 times more likely to have property seized by tax or law enforcement officials.

19 times more likely to be arrested for violent felony.

6 times more likely to be arrested for murder. (If this happens your chances are 1 in 2.5 that the victim was a relative).

Powerball anyone?

ETA: Source - University of Chicago study, pending publication this year.

Interesting how they didn't mention that in order to win a jackpot that big, they already overcame bigger odds than these.

Posted: 2/6/2006 1:41:10 PM EDT

[#37]

Quoted:
I would like to see statistics on:

education level before winning

income before winning

marital status and number of times married before

criminal record before

alcohol and drug abuse before

# DUI before

You can bring a stray dog into the house, bathe it, groom it and feed it steak, but it will still shit in the floor.

Posted: 2/6/2006 1:41:19 PM EDT

[#38]

ETA: Source - University of Chicago study, pending publication this year.

That's all I need to see right there.

Posted: 2/6/2006 1:53:41 PM EDT

[#39]

Quoted:
Interesting statistics on lottery winners as a whole:

If you are a lottery winner with total payouts in excess of $2 million, within 5 years you are:

125 times more likely to be sued. (If this happens your chances are 1 in 1.6 that you will pay some amount to the plaintiff). And, 125 times better to defend myself

93 times more likely to get a divorce. Negative, why give half away, I just got it !

89 times more likely to be audited. So what, as long as I obey the law and my tax lawyer is reuptable, who cares.

82 times more likely to end up on social security as your primary income, if it wasn't before your winnings. (I'm 47 yrs old, I am already likely to end up on social security, if there's any left.....)

72 times more likely to be cited for income tax offenses. (Nope, I will get a good lawyer)

65 times more likely to be arrested for DUI. I don't drink, no problem.

62 times more likely to have tax liens applied to your property. Nope, already have a plan.

54 times more likely to be arrested for assault or battery. Wonder why this is ? Hire bodyguards, let them do the fighting.....

39 times more likely to be the victim of homicide. (If this happens your chances are 1 in 3 that a relative was the accused and 1 in 5 that a murder for hire scheme was involved). Again, bodyguards, there loyalty is to "cash", got to love it.

35 times more likely to be injured as a driver of an automobile in an accident where "alcohol was involved." (Your chances if this happens are 1 in 2 that the automobile's book value was in excess of $65,000 and it was purchased after your lottery win. Chances are 1 in 6 that it was a Ferrari and 1 in 8 that the accident was fatal). Not me, I would not buy expensive cars or boats or planes.

29 times more likely to be arrested for a narcotics related offense. (If this happens chances are 1 in 2 that meth was involved). Negative, don't do drugs either.

26 times more likely to have property seized by tax or law enforcement officials. If you obey the law, this is no problem.

19 times more likely to be arrested for violent felony. As opposed to the other misdemeanors and felonies already reported here and the tax problems, assaults etc. etc.

6 times more likely to be arrested for murder. (If this happens your chances are 1 in 2.5 that the victim was a relative). Rich people don't need to kill, just ask the Menendez brothers, OJ Simpson, and Robert Blake.
Powerball anyone?

ETA: Source - University of Chicago study, pending publication this year.

I did not see anything about fast women in there, don't they count ?

Posted: 2/6/2006 1:56:59 PM EDT

[#40]

Quoted:
Interesting statistics on lottery winners as a whole:

If you are a lottery winner with total payouts in excess of $2 million, within 5 years you are:

125 times more likely to be sued. (If this happens your chances are 1 in 1.6 that you will pay some amount to the plaintiff).

93 times more likely to get a divorce.

89 times more likely to be audited.

82 times more likely to end up on social security as your primary income, if it wasn't before your winnings.

72 times more likely to be cited for income tax offenses.

65 times more likely to be arrested for DUI.

62 times more likely to have tax liens applied to your property.

54 times more likely to be arrested for assault or battery.

39 times more likely to be the victim of homicide. (If this happens your chances are 1 in 3 that a relative was the accused and 1 in 5 that a murder for hire scheme was involved).

35 times more likely to be injured as a driver of an automobile in an accident where "alcohol was involved." (Your chances if this happens are 1 in 2 that the automobile's book value was in excess of $65,000 and it was purchased after your lottery win. Chances are 1 in 6 that it was a Ferrari and 1 in 8 that the accident was fatal).

29 times more likely to be arrested for a narcotics related offense. (If this happens chances are 1 in 2 that meth was involved).

26 times more likely to have property seized by tax or law enforcement officials.

19 times more likely to be arrested for violent felony.

6 times more likely to be arrested for murder. (If this happens your chances are 1 in 2.5 that the victim was a relative).

Powerball anyone?

ETA: Source - University of Chicago study, pending publication this year.

1: very few people would know
2: cant rule that out anyway
3: don't cheat or do anything to raise red flags
4: have my own source of retirement
5: see #3
6: dont drink
7: property is paid off
8: very laid back individual
9: high likely hood of ole lady commiting felonious act against me(I'll take my chances)
10: see #6 as well as I tend to avoid drunks as I am not a night person
11: do not care for drugs
12: see #3 again
13: not a chance
14:see #13
Give me the money

Posted: 2/6/2006 1:57:59 PM EDT

[#41]

Quoted:
Did you know that if you post on an internet forum you are 56 times more likely to wet the bed?

hum...5000+ posts? yuo must be sleeping in a pool of peepee

Posted: 2/6/2006 2:17:20 PM EDT

[#42]

Bring it on, I could beat those odds. Now I just have to win the lottery

Posted: 2/6/2006 2:29:02 PM EDT

[#43]

Quoted:
Quoted:
Did you know that if you post on an internet forum you are 56 times more likely to wet the bed?

hum...5000+ posts? yuo must be sleeping in a pool of peepee

You smell funny.

Anyway, I think that U of Chicago didn't think to factor in the fact that many people that win the lotto seem to live in an area or be from an income class that probably has higher possibility of all those occurances anyway.

Meaning, who do they consider the normal from which to base those statistics off from?

People do call the lotto the idiot tax around here...

Posted: 2/6/2006 2:42:20 PM EDT

[#44]

I'd take my chances.

Most of those problems could be avoided by:

not being a shitbag in the first place
hiring professionals to advise you on taxes/financial planning and not trying to beat the system
keeping your mouth shut about winning in the first place

Posted: 2/6/2006 2:55:20 PM EDT

[#45]

I don't have any current online cite for it, but just having been a IL resident that long, I remember reading about it in the newspaper: a few years after Illinois began their state lottery (this would be early-mid 1980's, I think) they opened a special credit-counseling center in Chicago, just for lottery winners. The reason was that so many of them were going bankrupt (after winning the lottery) that the state felt it was reflecting badly upon the venture.

Another fun fact I recall was that one study around that time found that the poorest 10% of the people in IL bought 47% of all the lottery tickets.
~

Posted: 2/6/2006 2:58:11 PM EDT

[#46]

Quoted:
I'd take my chances.

Most of those problems could be avoided by:

not being a shitbag in the first place
hiring professionals to advise you on taxes/financial planning and not trying to beat the system
keeping your mouth shut about winning in the first place

....Um,,,,, in most state lotteries, as a condition of play they have the right to use your name+photo for publicity. It is not possible to make an anonymous claim....
~

Posted: 2/6/2006 3:06:09 PM EDT

[#47]

I would make it public knowledge that upon my death, all my money is to be burned.

Im an asshole

Posted: 2/6/2006 3:07:23 PM EDT

[#48]

Quoted:
Considering lifestyle of people that typically play in lotteries, I'm not suprised.
A gold plated turd is still a turd.

Exactly. I would like to see the stats of lottery winners versus non-winners from the same economic bracket.

Lies, damn lies, and statistics.

H-46, BS Mathematics (Ops Analysis focus - lots of stats)

Posted: 2/6/2006 3:10:11 PM EDT

[#49]

I think that all of those problems are related to the inability to manage money. If they would take their winnings, keep their jobs, and not spend all of the principal, then they would have a lifetime of money. If they made their money work for them, instead of spending the principal, then they can never go broke. BUT, people go out and buy huge expensive houses, which cost a lot on taxes every year, they buy expensive vehicles, which depriciate....etc. IF they didn't do all that stuff, they wouldn't have those problems.

Posted: 2/6/2006 3:18:14 PM EDT

[#50]

Quoted:
Quoted:
I'd take my chances.

Most of those problems could be avoided by:

not being a shitbag in the first place
hiring professionals to advise you on taxes/financial planning and not trying to beat the system
keeping your mouth shut about winning in the first place

....Um,,,,, in most state lotteries, as a condition of play they have the right to use your name+photo for publicity. It is not possible to make an anonymous claim....
~

True, but that doesn't mean you need to go around telling everyone you meet on the street that you just won $80 million. It pays to keep as low a profile as possible in these circumstances.

[ARCHIVED THREAD] - Win the lottery? No thanks. (Page 1 of 2)

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