[eastbay]

http://news.aol.com/topnews/articles/_a ... 0000000001 .... $315,000,000 in five years. That has to be a world-record all-time lottery milestone.

I remember reading a few years back about a wino who won a $1 million lottery in Vancouver, Canada, and ignited the entire lump-sum check in 30 days. But this is different. It's absolutely incredible. Now he's back where he started; bumming money for beer and cigarettes.

I'm thinking if I had a few more hundred grand I wouldn't have to do jack for the rest of my life and here this knuckehead blows his entire $315 million lottery winnings in five years.

This proves once again lotteries are for those who are bad at math.

[Lokutus]

Back in the late 1970s or early 1980s there was a big fat cat Canadian executive who won over a million dollars on two seperate occassions.

[gampy]

You would surprised to learn that many, many lottery winners blow their wads.

Which is one reason why the deferred pay-out might be good for winners. Seems incredible, I know. But you have to realize that some people are idiots with any money they come in to.

But damn...315 million? Hahaha...well I hope he enjoyed himself.

I guess you ahve to put yourself in the guy's shoes...I would probably go on a spending spree and globe trotting extravaganza myself.

315 million..egads.

[alpha480v]

I don't feel sorry for that guy at all. He had all that money and wasted it. Idiot.
Win the money, and go on a spending spee... fine. But to blow 113 million? No excuse for that. That money should have been making him more money if invested right. Idiot.

[AWPrime]

Some people are poor because they are idiots, and a massive injection of money works only temporally.

[Lokutus]

I had a neighboor years ago who became a trust fund baby fter bein adopted by a wealthy family. He lived off it for decades until his mid fifties when he was given the opportunity to cash it out for one lump sum payment. He took it and blew all the money on rapidly depreciating assets: a huge greyhound bus RV, pickup trucks for himself and friends, boats, etc.

He eventually lost his house due to missed mortgage payments.

[mmasters]

Well I'm sure he has some good stories lol...

But damn, just put that much in the bank in revolving CDs and you'll get 15-20 million a year in interest. Route it through an offshore trust and pay almost no taxes.

Hell, I wouldn't mind a 1 million dollar a month allowance for the rest of my life!

[mmasters]

Oh yeah, if I remember right I recall hearing that 70% of lottery winners file for bankrupcy.

[AWPrime]

$this->bbcode_second_pass_quote('mmasters', 'O')h yeah, if I remember right I recall hearing that 70% of lottery winners file for bankrupcy.

[Pretorian]

Common guys give him a brake --2/3ds of that money were blown by US government, not him!

[basil_hayden]

Just in case I ever happen to win a 300 million dollar jackpot, I have plans to spend it all in one long weekend.

[0mar]

jesus, I'd have trouble spending 10 million dollars, never mind 100 million.