Congratulations! You just won millions of dollars in the lottery! That’s great. Now you’re screwed. No really. You’re really screwed! On Reddit, user BlakeClass detailed the dangers of winning the lottery and what to do. If you only want to see what you should do if you win the lottery then skip down to bottom section of this post.
The Dangers of Winning the Lottery
You see, it’s something of an open secret that winners of obnoxiously large jackpots tend to end up badly with alarming regularity. Not the $1 million dollar winners. But anyone in the nine-figure range is at high risk. Eight-figures? Pretty likely to be screwed. Seven-figures? Yep. Painful. Perhaps this is a consequence of the sample. The demographics of lottery players might be exactly the wrong people to win large sums of money. Or perhaps money is the root of all evil. Either way, you are going to have to be careful. Don’t believe me? Consider this:
Large jackpot winners face double digit multiples of probability versus the general population to be the victim of:
- Homicide (something like 20x more likely)
- Drug overdose
- Bankruptcy (how’s that for irony?)
And triple digit multiples of probability versus the general population rate to be:
- Convicted of drunk driving
- The victim of Homicide (at the hands of a family member) 120x more likely in this case, ain’t love grand?
- A defendant in a civil lawsuit
- A defendant in felony criminal proceedings
Believe it or not, your biggest enemy if you suddenly become possessed of large sums of money is… you. [Read more…]