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?


  • 1
    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. Oct 23, 2018 at 17:56
  • 1
    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, 2018 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. Oct 24, 2018 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. Oct 24, 2018 at 18:36


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