Many lotto winners end up squandering their money.
Some winners lose big time after hitting the jackpot, even faring worse than they did before.
One winner in Canada, Sharon Tirabassi, spent most of her $10 million jackpot on extravagant homes, cars, designer clothes, parties, vacations, and handouts to family and friends. Within a decade, she was riding the bus again to her part-time job and renting a house.
A Texas man, Billy Bob Harrell Jr., won a $31 million jackpot in 1997. He spent it on things like vacations, homes, and cars, but he also obliged too many money requests. He eventually squandered all his money.
Another winner, Michael Carroll, won a $15 million British jackpot in 2002 but lost it all within five years.