Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

The Real Cost of the Lottery

By Lewis Braham - 2012-11-28T21:32:58Z

Photograph by Jonathan Kirn/Getty Images

Company Symbol % Change
14 of 16

Bankruptcy Lawyer

About 1 percent of lottery players go bankrupt every year, according to a 2010 study of Florida players by economists at the University of Pittsburgh, University of Kentucky, and Vanderbilt University. That's double the national bankruptcy rate for that year. Winners fared almost the same as losers. In fact, though in the short-term those who won less than $1,000 were more likely to file for bankruptcy than those who won between $100,000 and $150,000, within five years the biggest prizewinners were more likely to go bust. Millionaire winners weren't analyzed. A bankruptcy lawyer costs $100-plus an hour.