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It is a variable answer. First of all you need to know the exact number of how many people have won the lottery in the history of mankind, or if you want to know an anual average. Then you find out how many of those winners have since filed for bankruptcy. The hard part is to find out the average of people going bankrupt after winning the lottery. But once you have the numbers, you can figure out the average of said original question.
Another answer:
There are lots of stories, but very little statistical data on this subject. Economists at the University of Kentucky, University of Pittsburgh and Vanderbilt University studied Florida's Fantasy 5 lottery from 1993 to 2002, and cross-referenced winners of jackpots up to $150,000 with state bankruptcy records. They found that 1,900 of 35,000 winners were bankrupt within five years. That's about 5% of the winners.
They also found that about 1% of the people who play the lottery (both winners and losers) were bankrupt within five years. That's about double the rate of bankruptcy for the population as a whole.
It's difficult to draw conclusions from that single study, but it seems to indicate:
- Most lottery winners do not go broke. Some do, in spectacular fashion, but they are a minority.
- People who play the lottery are more likely to go broke than people who do not, regardless of whether they win or lose.
Wiki User
∙ 12y ago
Wiki User
∙ 15y agoUsually lottery money is paid out over a long period of time, years.
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Who were some winners of the Kentucky Lottery?
The Kentucky Lottery has several different games and many winners in the past. Some of these winners are anonymous. The names of some of the most recent $1 million winners are Ralph Staples, Steve Brown, and Alex Parker.
What mass city or town has claimed the most lottery winners?
Methuen, MA Mobil Station
Who are some past lottery winners in California?
There are a number of California citizens that win the state lottery on a daily basis. The most recent winner of the biggest prize, the SuperLotto Plus, was Cynthia Stafford.
Do rich people work for their money?
Most work very hard for it, others inherit it. The rest just get lucky ie. lottery winners etc.
Where have the most winning lottery tickets been sold in Illinois?
Since 2003, Pennsylvania state has sold the most winning powerball tickets.There were 12 jackpot tickets sold in Pennsylvania.After that Indiana has sold 9 ticket.Check the statewise list of all powerball jackpot winners at :http://portalseven.com/lottery/powerball_jackpot_map.jsp
Lottery winners where are they now?
Geographical locations will vary, but situationally they are in the main flat broke, alienated from family and friends, jobless from whatever good job they had, and worse off than before they won.The biggest scam of all, bar none, are these state lotteries. At no point has any state - even though they spend millions per year advertising how great the lotteries are - ever shown a happy winner one year later, let alone five or ten years later.This glaring, damning and wholly irrefutable fact says it all, for if there were happy winners a year later, the state would be sure and show you them to encourage still more to waste their money on this destructive "game".Another answer:There have not been many statistical studies on this subject, but the largest study (35,000 Florida state lottery winners) shows that 1,900 (5%) were bankrupt within five years.They also found that about 1% of people who play the lottery, both winners and losers, go bankrupt within five years. That's about double the rate of the population as a whole, reflecting the fact that people who are bad at money management are more likely to play the lottery.The claim that a majority of lottery winners are broke, unemployed and alienated is simply not supported by facts.One reason why you rarely see happy winners one, five or ten years later is that the happy ones are most likely the smart ones who protected their anonymity from the start and continue to do so. Foolish winners allow their names and pictures to be published in newspapers and on television. Things are always more likely to turn out badly for foolish people.
What is the largest amount won from a lottery in the usa?
The single largest lottery winning in US was the Mega Millions jackpot of $390 million held on March 06, 2007. There were 2 winners for this draw, each qualifying for $195 million.The single largest ticket sold was from Powerball jackpot on February 18, 2006, valued at $365 million . This was won by a group of ConAgra Foods Coworkers.The second largest individual ticket was from Powerball jackpot onOctober 19, 2005 , valued at $340 million . This was won by Chaney & West Families.Check all the Mega Millions winners and the jackpot prizes at:http://www.portalseven.com/lottery/megamillions_jackpot_winners.jspCheck all the Powerball winners and the jackpot prizes at:http://www.portalseven.com/lottery/powerball_jackpot_winners.jsp
What are the most frequent lottery numbers drawn in the Missouri lottery?
four
What 3 number comes out the most in ct lottery draw?
what 3 play number comes out the most in the ct lottery
Why do lottery winners usually take an immediate smaller cash payout instead of a larger payout paid periodically over time?
The larger payout amount is an "estimated value" based on the smaller actual payout plus interest. If you take the larger payout, you are essentially allowing the lottery holders to invest your money. The risk is if the lottery goes bankrupt, you will get nothing. Also, I assume most people would prefer to invest their own money and keep all of it.
What are the most frequent lottery numbers drawn in Florida lottery?
They are: 29, 52, 5, 38, 40, 4
Does the lottery machine check the raffle number at the shop?
Most lottery machines now have the ability to check raffle numbers at the store. Through the use of bar code scanners this is now possible in most areas where lottery tickets are sold.
