“Butowsky-A Win-Lose Approach to Mega Millions and Lottery Winners”

It is a trending issue on why are the some Mega Million and lottery winners did not end up with a happy path, so observers have to approach the Ed Butowsky’s theories about why can these things happen beside the fact that they gained million of pieces of moneys .Mega Million is a popular lottery game of America, advertised jackpots, have started at $12 million, paid in  26 yearly installments, increasing when there is no jackpot winner. Reflecting common practice among American lotteries, the jackpot is advertised as a nominal value of annual installments. A cash value option, when chosen by jackpot winner, pays the approximate present value of the installments.

An Inelastic Demand for Tickets

As reported this March, there were 1800 tickets sold and the following days of the month, there was another 100 tickets in addition to the previous numbers. Hoping to get the right match and instantly wins, that would make them rich and thinking that these will be the solution of their financial problem, there was inelastic demand for the lottery tickets. The Mega Million machines were busy to spit out numerous tickets elsewhere and people have the fighting nerve to take the chance to win but Ed Butowsky has a special opinion about the behavior of these people.

What a Financial Expert Express about the Issue

Ed Butowsky, an internationally recognized expert when it comes to handling wealth management, who is considered one of the  greatest provider of financial advises ratified that it  was a big mistake where they invest into a venture they really don’t understand saying: “I represent lots of people who have suddenly wealth and they can be professional athletes. I’ve actually worked with some lottery winners and what naturally happens is they literally overspend. They don’t understand how to manage money they don’t understand the value of putting money away.”


Know Ed Butowsky, watch his videos below:

http://www.youtube.com/watch?v=f4K82qvXS0g
http://www.youtube.com/watch?v=Chf7vvX7OxA
http://www.youtube.com/watch?v=BseOMWQm7Ig