Ok, be honest now. How many of you go to sleep at night and to help you nod off, start thinking about winning the lottery and what you’d if you were to live your life as a multi-millionaire? It’s perfectly normal for us to dream about winning it big on the lottery, and there are plenty of people out there who have made their dreams become realities. However, it isn’t always plain-sailing and easy living when it comes to the lottery. You see, if you do strike it lucky and are smart with your winnings, you will be set life, and life will be pretty-awesome. Some people however, have gone on to literally destroy their lives, and the lives of their loved ones, after winning the lottery. Here are some lottery horror stories from around the world that you need to avoid.
Putting too much pressure on yourself
A lot of the time, people dream of relaxing on a beach somewhere, sipping cocktails in the sun, without a care in the world after winning the lottery. The reality however, is that some people actually put more pressure on themselves and get even more stressed by taking on too many responsibilities. A lottery-winner in Houston, Texas, once won over $31 Million. He went out and purchased six houses and a ranch. Running the houses, and what with maintenance and general spending, meant that he became overwhelmed with his spending and his finances spiralled out of control. The pressure got too much for him, and he sadly took his own life less than 24 months after his huge win.
Taking on too much debt
This may sound bizarre, but there are plenty of lottery winners out there who have won and landed themselves in heaps upon heaps of debt. You see, some people opt for the lump sum, while others take it in annual payments to try to keep a lid on their spending. There have been winners however, who have wound up with too much debt and not enough money to cover their debts until their next payment arrives. One woman in America took out a loan to cover her debts but used her future lottery payments as collateral. She ended up in court as she couldn’t afford the payments, and was ordered to pay $150,000. Unfortunately, there was no assets by then. With expensive jewellery, big houses, cars, and charitable donations, she sadly blew everything.
Heading back overseas, we have a former winner named Callie Rogers from the UK. Callie won £1.9 Million, which is more than enough to set you up for life if you’re smart and sensible. Callie however, was reckless with her spending. She blew the lot of a big house, parties, sports cars, jewellery, expensive champagne, breast enlargements, clothes, shoes, and beauty treatments. The most notorious example of poor self-control however, comes in the form of the ‘Lotto Lout’ Michael Carrol, who won just under £10, which is an astonishing amount of money. He blew everything on drugs, parties, flash cars, escorts, and a reckless lifestyle and winded up in debt, arrested, and penniless while claiming benefits. What a sad state of affairs.