Despite the alluring unforeseen riches that the lottery can bring, becoming a winner is not a promise of financial stability. For some individuals, winning the lottery has turned out to be a triple threat that has led to financial strain.
One notable example is John Whittaker, who won a record-breaking $$300 million Powerball Jackpot in 2003. At the time, he was a Kentucky businessman who had a moderate income and a wife of 40 years. Initially, his win brought him glory and respect from his community, but his newfound wealth also attracted unwelcome attention. Foreigners begged at his doorstep asking for loans, and some even allegedly kidnapped and sexually assaulted his eldest granddaughter in an attempt to extort money from him.
Whittaker's life soon spiralled out of control as he struggled to adjust to his new reality. He was targeted by professional gamblers claiming they had won the jackpot as well, and he was constantly bothered by loan sharks. His relationships with family and friends fell apart quickly as they fought over his wealth, leading to a rapid decline in his mental health.
Likewise, William Post's life began to fall apart after he won $16 million in the Pennsylvania Lottery in 1987. At first, he was thrilled with his fortune and began living a lavish lifestyle. However, as time passed, his desire for wealth and status consumed him. He made numerous poor investments and became embroiled in a custody battle with his estranged wife and his sister, who was appointed as the manager of his trust fund.
Post's world eventually came crashing down when his estranged wife claimed he had cheated on her. He also became embroiled in a conflict over assets with his sister, who accused him of mismanaging funds from his trust fund. Eventually, Post's trust fund was reduced to just $$50 thousand due to overexpenditures.
Another tragic case is that of Abraham Shakespeare, who won $$18 million in a Florida lottery in 2007. Initially, he purchased lavish gifts for his friends and family, but as his wealth grew, so did his desire for luxury and excess. He began investing in numerous businesses, including a film production company, but his investments went sour.
In the end, Shakespeare's life was cut short when he was murdered by a woman he had befriended and given a lavish lifestyle for in the years following his win.
The stories of William Post serve as warnings for the verifiable crypto lottery's potential pitfalls. Becoming a winner can bring both opportunities and challenges if individuals are not prepared to handle the stress and scrutiny that comes with it. As for the advice given by Albert Shakespeare after his win, "winning the lottery is like being run over"