There are currently claims that between 30% and 70% percent of lottery winners will go bankrupt.

Indeed, the Certified Financial Planner Board of Standards says nearly a third of lottery winners declare bankruptcy—meaning they were worse off than before they became rich. Source: Fortune, By RIC EDELMAN January 15, 2016


In fact, about 70 percent of people who win a lottery or get a big windfall actually end up broke in a few years, according to the National Endowment for Financial Education. Source: Clevland.com Jan 14, 2016

There is a much older Skeptics post saying it is around 1% Are people who win the lottery more likely to go bankrupt? (I think, not sure I followed the answer) but it mentions lack of studies. Based on current reports there is now evidence available and/or the current claims are without foundation.

What is the Real Risk of Bankruptcy after a Lottery Win?

Does current research support current reported percentages?


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    I don't see how this question is any different from the one referenced. Asking a question again isn't going to improve the quality of the answers. – DJClayworth Oct 23 '18 at 17:56
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    Have a look at this relevant meta question, which itself is unfortunately a bit old, about re-asking old questions. Basically, a good suggestion is to try to frame it to take into account both the old answers and the new claims, such as "Is there any new research in the last X years since Y similar question that supports these new, similar claims?" – Giter Oct 23 '18 at 18:23
  • @Giter edited accordingly. Note that the answer on the potential dupe is not accepted and has gained a 25 rep increase indicating an offered bounty was not specifically awarded. – James Jenkins Oct 24 '18 at 16:04
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    Seems worth noting that the answer on the potential dupe also only concerned $50,000 to $150,000 winners, so it's unclear whether this is relevant to the "extremely big winner" lotteries that have been in the news recently and presumably motivated this question to some extent. – Bryan Krause Oct 24 '18 at 18:36

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