We think of investing as something planned and calculated. However, we also hear of investors taking a chance on outliers that end up making a fortune — think of the people who bought Apple stock in the late 1990s when it was near bankruptcy, or who held onto Amazon during the dot-com crash.
One Ohio resident took a similar gamble on the lottery every week for 22 years. His unwavering dedication turned into a massive payout.
Every week for over two decades, he played the numbers 6, 8, 16, 20, 26 and 45. Those exact digits finally lined up in the Ohio Classic Lotto, securing him an advertised $3.5 million jackpot, according to People.
Pondering the math on 22 years of tickets
How much does over two decades of lottery loyalty actually cost? According to state lottery officials, the winner spent $10 a month on his tickets, even recruiting a friend to buy them when he traveled out of state.
At $10 a month, his routine cost him $120 a year. Over the course of 22 years, his total out-of-pocket expenses amount to a possible $2,640.
Turning a $2,640 lifetime expense into a seven-figure payout represents a staggering return. However, calling this an investment requires a massive leap of faith.
Not an investment strategy
Buying lottery tickets is not a legitimate financial strategy for most of us. It is entertainment with an infinitesimally small chance of a payout.
The official odds of hitting the Ohio Classic Lotto jackpot are roughly 1 in 13.9 million. If you rely on those odds to build your retirement savings, you are mathematically guaranteed to lose your money.
$10 a month invested in a standard S&P 500 index fund over the last 22 years would have yielded thousands of dollars in reliable compound growth. Historically, the stock market returns roughly 10% annually.
The Ohio winner, who remains anonymous, beat astronomical odds, but treating a lottery ticket as a substitute for a brokerage account is a poor financial strategy for most people. The stock market builds wealth through steady compounding. The lottery is a gamble that almost always ends at zero.
The reality of the tax bite
Winning the lottery triggers an immediate and significant tax event. If you see an advertised $3.5 million jackpot, you do not actually receive that amount in your bank account.
The winner chose the lump-sum cash payment instead of the 30-year annuity. That decision instantly reduced the gross prize pool from $3.5 million to $1.7 million. Taking the cash and controlling the principal yourself is usually the smarter financial play, but it dramatically shrinks the headline number.
Then the government takes its share. The IRS requires an automatic 24% federal withholding on large lottery prizes, which removed roughly $408,000 right off the top. The state of Ohio also levies its own tax on lottery winnings, taking approximately 4%.
After these mandatory federal and state deductions, the $1.7 million gross prize dropped to a final take-home of $1,281,875.
Watching an advertised $3.5 million shrink to $1.28 million might seem frustrating to a casual observer. However, securing a seven-figure payday from a localized $10 monthly wager is a victory anyone would gladly take.
What this win really means for the rest of us
This winner beat staggering odds. He plans to use the money for practical upgrades, including buying a new home and building a custom home gym with a swimming pool. He has not signaled flashy spending or dramatic lifestyle changes. That restraint may matter more than the win itself.
Lottery success does not prove persistence pays. It proves rare outcomes happen to very few people. For most Americans, especially those approaching retirement, the better strategy remains boring consistency. Regular investing, diversification and disciplined saving may lack drama, but they build predictable progress.
If you enjoy the lottery, treat it as entertainment and keep it modest. Just do not confuse a one-in-14-million story with a financial plan.
However, if you have over $100,000 in savings, you may want to consider getting advice from a pro. SmartAsset offers a free service that matches you to a vetted, fiduciary advisor in less than 5 minutes.
offers a free service that matches you to a vetted, fiduciary advisor in less than 5 minutes.