Does Bankruptcy Prevent From Getting Lottery Money

by Ryan Hart | Updated on Dec three, 2018 | Post may contain chapter links. As an Amazon Acquaintance we earn from qualifying purchases.

In this post you'll learn what percentage of lottery winners get broke and other shocking statistics near lotto winners.

In fact:

Yous'll larn the biggest myth about how many lottery winners declare bankruptcy each yr.

Allow'due south get started.

What Percentage of Lottery Winners Become Bankrupt?

• The National Endowment for Financial Education (NEFE) denies that seventy pct of lottery winners end upwards bankrupt inside five years after receiving a large financial windfall. This is an incorrect statistic that has been credited to the organization by Fourth dimension, Fortune Mag and many others.
• Lottery winners are more likely to declare bankruptcy within three-to-five years than the boilerplate American (CFPBS).
• Nearly one-tertiary of lottery winners eventually declare bankruptcy (CFPBS).

Who Plays the Lottery?

• 55 percent of those who play lottery games at least once month take incomes of $55,000 or more (NASPL)
• 44 percentage of lottery players nationwide accept incomes of $55,000 (Vision Critical)
• 20 percent of the lottery players account for 71 pct of lottery income (NASPL)
• Americans spend an boilerplate of $206.69 on lottery tickets each twelvemonth (LendEDU).

How Many People Play the Lottery?

• Almost half of Americans say they accept bought a state lottery ticket inside the last yr (Gallup)
• 60-lxxx% of adults over 18 purcahse a lottery ticket at in one case or another (Weinstein and Deitch).
• 64% of lottery winners are over the historic period of 50 (Kaplan).

What Are the Odds of Winning the Lottery?

• The odds of winning the lottery are greater than getting struck by lightning. Over 1,300 tickets won at least $1,000,000 on either Powerball or Mega Millions from 2013 to 2015. Only 67 lightning fatalities occured during the same fourth dimension menstruum in the United States where the lottery is played (NASPL)

How Do Lottery Winners Spend Their Money?

• 37% invested in stocks, bonds or real estate (Kaplan)
• 17% of winners used the money to liquidate debts (Kaplan)
• 23% of winners used the coin to buy a house (Kaplan)
• twenty% used some of their winnings to remodel their house (Kaplan)
• 37% used lottery winnings to accept a vacation (Kaplan)

How Many Lottery Winners Requite Abroad Their Money?

• 33% of winners gave money to their children (Kaplan)
• 17% of winners gave money to relatives (Kaplan)
• 10% gave substaintial sums to clemency or churches (Kaplan)

How Much Do People Spend on Lottery Tickets?

• U.S. lottery sales totaled $80.5 billion (USD) in 2016. Canadian sales reached $x.3 billion (CAD) during the same time period (NASPL).
• Massachusetts residents spend an average of $734.85 on lottery tickets each year (LendEDU)
• Rhode Isle residents spend an boilerplate of $513.75 on lottery tickets each twelvemonth (LendEDU)
• Delaware residents spend an average of $420.82 on lottery tickets each year (LendEDU)
• New York residents spend an average of $398.77 on lottery tickets each year (LendEDU)
• Due west Virginia residents spend an average of $359.78 on lottery tickets each twelvemonth (LendEDU)

Which States Generate the Most Revenue from Lottery Ticket Sales?

• New York generated $9.69 billion in lottery revenue (2016)
• California generated $6.28 billion in lottery revenue (2016)
• Florida generated $6.06 billion in lottery revenue (2016)
• Massachusetts generated $five.22 billion in lottery acquirement (2016)
• Texas generated $5.07 billion in lottery revenue (2016)
• Georgia generated $4.56 billion in lottery revenue (2016)
• Pennsylvania generated $4.14 billion in lottery acquirement (2016)
• Ohio generated $3.93 billion in lottery acquirement (2016)
• New Bailiwick of jersey generated $3.29 billion in lottery revenue (2016)
• Michigan generated $3.1 billion in lottery revenue (2016)

Now It's Your Plow

And now I'd like to hear from you:

Why exercise y'all think and then many lottery winners go bankrupt?

Or maybe you lot have a question near one of the statistics?

Either way, let me know by leaving a comment below right at present.

p.s. Accept you always wondered what the future holds for your honey life?

Source: https://www.ryanhart.org/lottery-winner-statistics/

Posted by: vargasanich1974.blogspot.com

Share this post