Guess Who Won The $588 Million Powerball Jackpot & Their Secret

powerball

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Type in Powerball into Google News and you get nearly 7,000 articles written in the past few days all because of the largest Powerball jackpot in history worth $588 million

Newer articles talk about how it was won by two people…one in Arizona and one in Missouri…

…but they are wrong.

Do you know who the real winners are?

I do.

Let me explain.

NBC News has a good article breaking down where the Powerball $ goes and while most people think much of the $ goes to the government and education…to make themselves feel better about buying tickets…they’re wrong, read:

Ed Rodriguez, the father of two school-aged kids in Otisville, N.Y., had high hopes of winning the $580 million Powerball jackpot last night. Either way, he figured at least some of the money went to a good cause.

“Some of it goes to education,” he said after buying a ticket Wednesday at a Citgo station on the Garden State Parkway in New Jersey. With many school budgets in his area facing tight budgets, “it helps a lot.”

He’d be disappointed on both counts. He didn’t win the largest Powerball drawing in history, which went to ticket holders in Arizona and Missouri. And the money doesn’t do as much good for education as he thinks.

About 72 cents of every state lottery dollar goes somewhere else. About 60 cents goes to the winner. Some goes to run the lottery. A piece of it goes to a private, Italian-based conglomerate that operates lotteries and slot machines in 50 countries around the world.

Depending on what state you live in, that leaves as little as 11 cents left to pay for the government services these games were created to help.

So the biggest $ winner is that mysterious Italian conglomerate…their details don’t matter, they’re the bookie…and the bookie always wins…and goes straight to hell for a lifetime spent making people poorer.

The lotto winners who will split the $588 million think they’re the biggest winners, the press will glorify them as such because it’s a great story and the mainstream public will wish it was them holding the bigass check and being worth hundreds of millions of dollars.

But studies show lotto winners not only have higher suicide/bankruptcy rates, but more importantly, don’t enjoy life as much as non-winners do:

Arguably the most famous paper on this subject was published the late 1970s, and it’s a doozy: Psychologists interviewed winners of the Illinois State Lottery and compared them with non-winners — and, just for good measure, people who had suffered some terrible accident that left them paraplegic or quadriplegic. (You can find the abstract here, but you’ll have to pay to read the full report.) Each group answered a series of questions designed to measure their level of happiness.

What they found was counterintuitive, to say the least: In terms of overall happiness, the lottery winners were not significantly happier than the non-lottery winners. (The accident victims were less happy, but not by much.) But when it came to rating everyday happiness, the lottery winners took “significantly less pleasure” in the simple things like chatting with a friend, reading a magazine or receiving a compliment.

And of course there are the horror stories that too much sudden money brings:

You’ve heard the stories of lottery winners whose post-jackpot lives turned sour. There’s Jack Whittaker, the West Virginia man who in 2002 won the nearly $315 million Powerball jackpot. Initially, he generously gave millions to charities, including $14 million to start his own Jack Whittaker Foundation. But later, the dream turned to nightmare: A briefcase with $545,000 in cash and cashier’s checks was stolen from his car while it was parked outside of a Cross Lanes, W. Va., strip club. His office and home were broken into, he was arrested twice for drunken-driving — and the list goes on.

Or there’s Alex Toth, a Florida man who in 1990 won $13 million to be doled out in 20-year-payments of $666,666. (Seriously.) At his death in 2008, the Tampa Bay Times reported on the sad direction his life had taken: Years of living it up led to a split from his wife and charges of fradulent tax returns, among other serious woes.

You’ll probly brush all that off thinking that it’s just better to have a ton of money than not to have it, but as someone who got very wealthy very quickly when I was just a freshman in college (read about it HERE) and now as I consistently earn millions of dollars per year teaching others, I can tell you all that money doesn’t make you happy…it’s the journey to accumulating money and the pride and confidence you develop along the way that matters most, especially when you know your business helps others…as subscribers of my 4 newsletters have learned mine does quite well.

That’s why my I’m so proud to have over a dozen trading challenge students who have made over $100,000 with my strategy already…they’re well on their way to being millionaires not due to luck but thanks to old-fashioned hard work and effort.

In total, my students have made over $5 million in just a few short years (detailed trade-for-trade here) and the odds of winning aren’t 1 in 176 million or even 1 in 3…they’re winning 70+ of the time using my trading rules…just like I have been doing over over a decade.

This is why I’m so dedicated to creating a millionaire from scratch, as I wrote about HERE.

You don’t need the high you get from betting…if you do, you’re lacking in your own life to have to rely on chance…and terrible odds at that…1 in 176 million.

And you certainly don’t need to win the lotto to make a lot of money and be happy.

Nope, the real winners of the $588 Powerball jackpot are those who didn’t play.

Contrary to the Italian conglomerate’s marketing message, you CAN win if you don’t play…especially if you better use your time and money investing in yourself…using tools like these to aid you in your journey.

Posted in Analogies, Guessing Games

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  • ValuelessTrader

    Wonder who the Italian conglomerate is? Thanks for the article. Didn’t realize how little goes to the state…

  • munchers09

    Love it; I always called lotteries taxation for the mathematically challenged but never new about the conglomerate’s vig!

  • Fred Yates

    Brilliant article! I love the perspective :)

  • Marc

    Very well put Tim

  • Hopeioum2

    I agree that money doesn’t equal happiness that accomplishment, purpose, and self worth gives us happiness. However I still wish I had the winning numbers! The number one thing money is good for is choices. I would have been happy to have woken up this morning called out of my day job and found a lawyer. I honestly don’t want a crazy house unless there are people to fill it. I would still learn the market as I am now, because I’m not capable of being mentally idol. I know myself enough to know if on a beach with a margarita everyday I’d be depressed.

    Sadly Neal took that photo seen around the world, but for his sake I hope he learns quickly to live off the interest of his money and has purpose that fulfills him.

  • CeleronS

    As I like to say,lottery is tax for idiots. ^^