Big winners share lessons, risks of Powerball win

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  • Shawnm750 West Jordan, UT
    Nov. 29, 2012 9:24 a.m.

    @DEW - "Remember Big Ostetag gives very little tips at restraunts which was smart of him (I think)." That doesn't make Ostertag frugal, it just makes him a jerk. I'm yet to meet a person who's met Greg Ostertag that's told me about what a nice guy he is. Anyone that I've ever talked to that's ever met him, didn't like him. Servers at restaurants make most of their money off tips because they are only paid like $2/hr. The same goes for anyone who works for tips.

    But, you do bring up a good point about professional athletes. Many of them need to take the advice of these lottery winners. Most of them come from humble backgrounds and think that now they're "big time" the money will just keep rolling in. But all it takes is an injury, a bad deal/investment or simply putting their trust in the wrong people, and they end up just as broke as they were to begin with.

  • Hutterite American Fork, UT
    Nov. 28, 2012 5:32 p.m.

    I agree with BSR, it's a stupid tax. And not nearly as much fun as blackjack with free beer in vegas. At least there you get some value there even if you don't do well. But, since I was going out to Free America anyway and a whole bunch of friends needed me to pick up the tickets they bought, I got some to. And I'd be willing to take on the challenge of managing a big win, if necessary. And I think I'd do well with it.

  • Brave Sir Robin San Diego, CA
    Nov. 28, 2012 9:27 a.m.

    Lottery truly is a tax on the stupid...

  • Third try screen name Mapleton, UT
    Nov. 28, 2012 9:27 a.m.

    One has to wonder the difference between the lottery and Wall Street investment these days.

  • DEW Sandy, UT
    Nov. 28, 2012 9:15 a.m.

    And you wondered how those proffesional NFL players and some other sports athletes go broke in a hurry. Remember Big Ostetag gives very little tips at restraunts which was smart of him (I think).

  • liberal larry salt lake City, utah
    Nov. 28, 2012 8:50 a.m.

    After I win the $500,000,000. Power-Ball lottery we will move to Wyoming to avoid Utah's confiscatory 5% income tax, thus saving a cool 25 million dollars. I will then hire Mitt's tax guy to avoid ever having to pay more than 15% in taxes!