Lotto Jackpots Too High?

Question

Dont you think that 5 or more million dollars is far too much for an average person to require for their life. Many people cannot adjust to this lifestyle and in some cases end up broke or even dead after a few short years.
They say winning a jackpot odd is similar to this. You go to a major city like NY and call a friend and not knowing his number, dial a number at random and they answer the phone. That gives a good idea how freaky the odds of winning really are. Dont waste more $ than a single ticket

When the first prize amts. gets to say a 5 million dollar cap, should the extra money go to second and third prize winners?

Answer 1

My parents won the Colorado State lotto back on 30 January 1993 when I was 13 (I'm all grown up, married, have my own family and live out of country now).
http://www.coloradolottery.com/games/number_archive.cfm?drawingID=4753&view=lotto
(only my dad's name appears on the sheet - & if you want to know who he is, look at my 360 page and see where I grew up)

They won 5 million, but there were two other winners so each wound up only getting $1,783,674.00. Back then they only had annuity (to be paid out over 25 years) so they're still getting their yearly checks, but it is only a little bit over what my mom made a year while working. My mom quit her job after that, because she had health problems and now they could afford for her to stay home.

You don't know the history of the people that win. Many of them use it wisely and to pay off bills, for medical reasons, to help out family members, to give to charity, etc. It's a small minority that actually spend it ferviously.

Answer 2

jackpots grow because there were no winners in the prior drawing. of course the odds are horrible. of course the government wins - they sell the tickets (and not all the proceeds go to the payout) and then they tax the winnings. brilliant.

Answer 3

The winner of the lotto is the taxman.

Answer 4

ok