Winning the lottery or hitting it big in a casino game is a dream that all of us have, and most people will easily be able to tell you exactly what they would spend their winnings on. The dream has been realized for many who have won big and while some winners have made the best out of their new found fortune, there are those that have spent their winnings on, well, the strangest of things.
A Double Loss
Cabaret Club is committed to responsible gaming, which entails walking away when you have won big. This is not the case for a New Jersey woman who won a total of $5.4 million in the 80s. She won not one but two lotteries and thus, thinking she had all the luck in the world, gambled it all away in Atlantic City.
Shop Till You Drop
No matter how much is won, Cabaret Club cannot stress enough, that money runs out. Frivolous spending may get you a fancy new wardrobe or a lot of nice things, but not investing or saving some winnings for a rainy day may leave you looking good but penniless. In 1961 a British woman publicly declared she would spend her winnings on a shopping spree. After spending her millions she was left jobless and literally bankrupt by 1965.
Money for Nothing
In 1993, a South Korean immigrant in St Louis won a whopping $18 million. She bought herself some of the usual things winners do and then exhausted her millions on a philanthropic binge. While donating to those less fortunate is not frivolous spending, she was left with nothing in only a matter of years.
Revelling in Excess
One man in England spent his fortune on houses and vehicles. He then held demolition derbies in the backyards of his houses and basically destroyed the vehicles. He became penniless and ended up in jail. Another man from West Virginia lost half a million dollars that was stolen from his car outside a strip club that he frequented. He had carried the money in a suitcase. His excessive spending at strip clubs also led to certain club managers being charged with attempting to drug him and steal his suitcase.
There are many stories of winnings being lost to carelessness or trusting the wrong people. Some winners have even been distrustful themselves. Smart spending is really the only way to go to make your winnings last for a lifetime.