The Roby Farmers
In 1996, a group of farmers from Roby, Texas, bought a total of 430 lotto tickets and then won $46 million. You would think the winnings would save the town, which was a failing cotton farm town. Unfortunately, most spent their money frivolously. Some made deals with brokers, who provided cash in lieu of future annual payments, and doing so reduced the winnings received by about a third. Today, Roby is an all but dead town.