Some state governments have outlawed lotteries while others condone the legalized form of gambling that widely resurfaced after World War II. The most common law from state to state regarding various forms of lottery-style gambling is the prohibition of minors purchasing scratchers and Superball tickets. The very first recorded notes on the lottery are keno slips from the Chinese Han Dynasty between 205 and 187 B.C., lotteries such as these were said to have funded major Chinese infrastructure including The Great Wall.
The first European lotteries were held by the Roman empire for amusement during dinner parties. The chances of actually winning modern lotteries are based upon the lottery itself. For the simple 6-to-49 lotto, where we choose six numbers from 1 to 49, the chances are 1 in 13,983,816. When it is a bonus ball game the chances of winning are even lower at 1 in 258,890,850.
These ridiculous odds are probably what propels those who win the lottery into inflated egos built for failure. Many who are blessed with winning millions in the lottery were penniless before their death, some became drug addicts, and others were murdered by their own family members. Winning the lottery feels like a blessing but often times lottery winners end up devastated.
15. Janite Lee
When Janite Lee won $18 million from the Illinois lottery she was working at a wig shop after immigrating from South Korea. Her first order of business after winning was to move her family into a million-dollar home in a gated community located in St. Louis. She spent a lot of her money on philanthropic contributions, dining beside Bill Clinton and Al Gore. One of her largest contributions put her name on the side of the reading room at the Washington University School of Law. After a year or so Lee signed over her rights to yearly payments and took the lump sum, it took her eight years to go completely bankrupt. Less than a decade after signing over her rights for the lump sum 60-year-old Janite Lee declared bankruptcy with a total of $700 in her bank account. The fact that she spent most of her money on philanthropic efforts makes us feel even worse for this former millionaire.
...[ Continue to next page ]
Share This Post
