Getting a lottery jackpot is a dream for many. However, there are a number of people who blew their money after winning. They went into debt, partyed, and got into legal entanglements. The following are just a few examples.
Willie Hurt won the Michigan Super Lotto jackpot in 1989. He had been deeply tangled in the crack epidemic. He also had a criminal conviction. As a result, he was charged with murder. In 2010, he drank himself to death.
Jack Whittaker was a West Virginia construction worker. His outsized personality and oversized cowboy hats helped him stand out. But he had a penchant for giving handouts to strangers. Afterwards, his life turned sour.
A Powerball jackpot of $314 million in 2002 was the largest lottery prize in history. It’s estimated that the current jackpot is $2 billion. Although the winner can take a cash payment now, it will be less than the advertised prize.
Another case is that of Ibi Roncaioli, who won a $5 million jackpot in 1991. Unfortunately, he squandered his fortune and ended up in alcoholism and prison.
In 2011, the Powerball jackpot was estimated to be $2.3 billion. In order to win the lottery, the winner must have five numbers between one and 70. These are listed on the Powerball website.
While most lotteries give a lower prize for matching a few winning numbers, the Mega Millions has an estimated jackpot of $1.1 billion. This prize can be won in 30 annual payments or in a lump sum.