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	<title>Comments on: Financial Consequences of Winning the Lottery</title>
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	<link>http://www.lonegunman.co.uk/2009/04/27/financial-consequences-of-winning-the-lottery/</link>
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		<title>By: Lloyd Morgan</title>
		<link>http://www.lonegunman.co.uk/2009/04/27/financial-consequences-of-winning-the-lottery/comment-page-1/#comment-1503</link>
		<dc:creator>Lloyd Morgan</dc:creator>
		<pubDate>Tue, 28 Apr 2009 10:01:29 +0000</pubDate>
		<guid isPermaLink="false">http://www.lonegunman.co.uk/?p=2733#comment-1503</guid>
		<description>Indeed. As Tim Harford of &lt;em&gt;The Financial Times&lt;/em&gt; said,
&lt;blockquote&gt;[These findings are] not surprising, since many of them don’t win much, and lottery enthusiasts tend to be poor.&lt;/blockquote&gt;
You can easily extrapolate this further to say that they have little &#039;financial know-how&#039; and thus, as you say, are &quot;least able to make wise decisions about money&quot;.

The fact that the lottery is so widely played here in the UK is a fact that saddens me.</description>
		<content:encoded><![CDATA[<p>Indeed. As Tim Harford of <em>The Financial Times</em> said,</p>
<blockquote><p>[These findings are] not surprising, since many of them don’t win much, and lottery enthusiasts tend to be poor.</p></blockquote>
<p>You can easily extrapolate this further to say that they have little ‘financial know-how’ and thus, as you say, are “least able to make wise decisions about money”.</p>
<p>The fact that the lottery is so widely played here in the UK is a fact that saddens me.</p>
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		<title>By: LL</title>
		<link>http://www.lonegunman.co.uk/2009/04/27/financial-consequences-of-winning-the-lottery/comment-page-1/#comment-1502</link>
		<dc:creator>LL</dc:creator>
		<pubDate>Tue, 28 Apr 2009 03:16:51 +0000</pubDate>
		<guid isPermaLink="false">http://www.lonegunman.co.uk/?p=2733#comment-1502</guid>
		<description>It seems that in any event, bankruptcy is extremely unlikely (1 per 1,000) and the size of the winnings shifts this probability only slightly.

While it&#039;s nice to believe that lottery winners are destined for a financial rollercoaster ride, the sad truth is that people who have the poor financial sense to gamble in the first place are those least able to make wise decisions about money.</description>
		<content:encoded><![CDATA[<p>It seems that in any event, bankruptcy is extremely unlikely (1 per 1,000) and the size of the winnings shifts this probability only slightly.</p>
<p>While it’s nice to believe that lottery winners are destined for a financial rollercoaster ride, the sad truth is that people who have the poor financial sense to gamble in the first place are those least able to make wise decisions about money.</p>
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