Who Are These Multiple Lotto Winners & How Did They Win?

Most of the people are not able to win the lottery even once. However, there are some winners who have multiple lottery wins to their name.

According to statistics, even when you continue playing the lottery for 20 to 30 years, it is very difficult for you to win the lottery again after you have won it once. Statistically, it is not possible for the same person to win the lottery again.

However, there are a few winners which have done so like Brian O’Hanlon and the other winners listed below.

1. Richard Lustig:

Richard LustigRichard Lustig has won the lottery over 7 times. The total amount which he has won is US$ 1 million.

The 1st win was in 1992. The amount was just $ 10,000.

The again won the lottery multiple times during the next 10 years. According to him, winning the lottery is just based on luck.

He, however, has a couple of tips which you can follow.

I suggest that you should choose your own numbers and you should research these numbers before picking.

2. 6 winning tickets purchased by the same person:

A man in Arizona bought 6 tickets with the same numbers.

Each ticket won US$ 1 million. Even though, he was not able to win the jackpot but he made quite a bit of money.

It sure seems like it might be sheer luck rather than any algorithm or strategy.

3. Joan Ginther:

Joan GintherJoan Ginther has a Ph.D. in statistics from the University of Stanford.

He has won lottery 4 times. His total winnings stand at $ 21 million. This Las Vegas resident bought the scratch-off tickets from a single store.

According to an analysis done later, he purchased 3 of those tickets from the same minimart.

According to the experts, the probability of winning the lottery by purchasing the tickets from the same store, again and again, is 1:18 septillion.

It is likely that he might have figure out a way to identify the winning tickets and in which stores they will arrive.

He could have created an algorithm based on publicly available data.

4. Winning the lottery prizes 42 times:

Even though the total amount of money which was won by Wiley Tuley isn’t that large at just $ 0.2 million but he has won smaller amounts 42 different times.

The total amount accumulates to the $ 2.2 million.

Tuley WileyHe just plays his birth date again and again. According to him, most of it is just due to luck. There is the only limited amount of science which is involved.

As you can see, even though most of the people struggle with techniques likes lottery pool, it seems like these lottery winners have to just worry about things like spending mistakes to avoid.

They just need to make sure that unlike other lottery winners they just make the right investment decisions.

The next time around you stumble upon such a loophole, you will just need to worry about how to invest your money rather than looking into the various techniques for playing the lottery.

 

Worst Things to Do With Your Lottery Winnings

bad money decisions

The history is full of lottery winners making terrible financial mistakes. Most of the people playing the lottery do not ever imagine that they will win the lottery. As a result, when it finally happens, they are not sure how to react.

While everyone will give them the advice to invest your money but many winners look for instant gratification.

There are even a few lottery winners who have experienced multiple lottery wins by participating in a lottery pool and still lost it all (if you plan to start a lottery pool read this).

If you’re serious about playing the lottery, it is important to look into these mistakes as this can be a guide for spending mistakes to avoid.

insane lottery winner
This is a FAKE story but it is funny and highlights the points I’m making.

1. Taking the money upfront directly:

In most of the cases, the lotto company will provide you with the option of the upfront amount as well as an annual payment for your entire lifetime.

Instead of taking the upfront payment, it is a much better idea to opt for the lifetime payment. As a result, you will be able to get regular cash flow for the rest of your life.

2. Not adding a financial advisor:

Most of the people think that they are capable of making their own investment decisions.

If indeed, you are investing left right and center without taking the advice of the financial advisers, you will end up losing a significant amount from your corpus.

The financial adviser will help you in parking the money in the right assets which can appreciate in the longer term rather than depreciating your net-worth.

3. Not caring about debt:

10 million dollar loserSurprisingly, most of the lottery winners think now that they have a lot of money, they can service the debt over a period of time.

Even more surprising is the fact that many of the lottery winners actually take up additional debt.

The thinking behind this is that now that they have a lot of money, they can easily use the leverage provided by the banks.

The problem is that when you’re taking more debts, you are actually significantly reducing the corpus which you have.

You have to avoid taking on new debt at all costs. On the other hand, you have to think about paying off all the debt which you currently have.

4. Do not imitate millionaires:

The worst financial mistake which most of the lottery winners make is that they start imitating the millionaires.

You need to understand that millionaires in most of the cases have a consistent stream of income.

On the other hand, lottery winners have just won once. If you go ahead and imitate the millionaires, you will end up losing at all.

Also, you have to ensure that you are not living beyond your means.throwing money away

When you’re becoming a high roller, you will be surprised to find out how much money you can be blown up in such a short period of time.

Once you are able to abide by these few guidelines, it will become easier for you to retain your money.

All you need to do is to be conservative in your spending and you will be able to keep the money which you have won and not look for a job again.