Negative Effects Of Winning The Lottery

Many individuals in the United States participate in the lottery every year. The lottery has made poor men rich and rich men poor. For most, the lottery and gambling becomes an addiction that becomes difficult to quit. But for many others a one-time purchase of lottery tickets has changed their life forever. Many individuals participate in the lottery system every year spending tens of millions of dollars trying to win the elusive jackpot. The positive effects of winning the lottery far out weight the negative effect that are associated with winning. Some, associate individuals who win the lottery with people who waste every penny of their winnings, then end up broke and worse off than before. The media often dramatizes cases where a huge lottery winner becomes broke though personal misfortune. When really looking deep into how winning the lottery has changed peoples lives for the better, you can see that there are many more positive stories than there are negative. Most of the world lottery winners are better off after they win the large sum of money.
The lottery is a chance-based game that individuals participate

The data suggests that when an individual wins between $50,000 and $150,000 from the lottery that they have less than about a .5 percent probability of going bankrupt. The data has two outliers, one at close to 1 percent and the second at negative .05% (Hankins, Hoekstra, & Marta Skiba, 2009). This data compares to the national bankruptcy average in the United States. In the United states about .04 percent of all Americans in 2012 filed for bankruptcy (Court, 2012). The probability of going bankrupt after winning the lottery and the national average of filing for bankruptcy are very close. This shows that just because an individual wins the lottery, does not mean that they are more likely to file for