Where lottery winners give away their money
Here are some more interesting facts about lottery winners:
#1. Lottery winners are more likely to declare bankruptcy within three to five years than the average American, with nearly one-third of lottery winners eventually declaring bankruptcy.
#2. Among those who play lottery games at least once a month:
55% have incomes of $55,000 or more
44% of lottery players nationwide fall into this income bracket.
20% of lottery players account for 71% of lottery income.
#3. About how lottery winners spend their money:
37% invest in stocks, bonds, or real estate
17% use the money to liquidate debts
23% buy a house
20% remodel their house
37% use winnings for vacations
Source: Ryan Hart