Everyone dreams of winning the lottery and living a happy and comfortable life with no worries or financial stresses.

And with millions of pounds in the bank, you would think that many people would be able to spend wisely, live comfortably and live life to the full. Well sort of ! Over the years, many lottery winners have splashed their cash on all sorts of weird and wonderful things which has led them to a hole in their pocket, debts up to their ears and no money to even put a meal on the table.

Well Remortgage.com has scoured the World Wide Web to find the biggest lottery loser and how they went from rags to riches with millions of pounds to spend.

William ‘Bud’ Post

William ‘Bud’ Post won $16.2 million on the lottery in 1988 but now lives on social security.

“I wish it never happened,” Post said. “It was totally a nightmare.”

Many people tried to get hold of Post’s riches, including an ex girlfriend who filed a lawsuit claiming a share of his winnings. His brother was also arrested for hiring a hit man to kill him so that the money would go to the family when he died. Other siblings pressured him into investing into a car business and a restaurant-two project which failed to bring in any money. The lottery winner also spent time in jail for firing a gun over the head of a bill collector. And within a year he was $1 million in debt.

Post admitted he hadn’t thought it through properly and was just tried to please his family. He eventually declared himself as bankrupt. He now lives on $450 a month and lives off food stamps.

Suzanne Mullins

Suzanne Mullins won $4.2 million on the lottery in 1993. Now she is in a considerable amount of debt to a company that lent her money using the winnings as collateral.

She borrowed $197,746.15 which she agreed to pay back with her yearly cheques from the lottery in 2006. When the rules changed and Mullins could collect her winnings in one lump sum, she cashed in the remaining amount but stopped making payments on the loan. She blames the large debt on the lengthy illness of her uninsured son-in-law who needed $1 million for medical bills.

Ken Proxmire

Ken Proxmire was a machinist when he won $1 million on the lottery. He moved to California and went into the car business with his brothers and within five years he had filed for bankruptcy.

“He was just a poor boy who got lucky and wanted to take care of everybody,” explains Ken’s son, Rick.

“It was a hell of a good ride for three or four years, but now lives more simply. There’s no more talk of owning a helicopter or riding limos. We’re just every day folk. Dad’s now back to work as a machinist,” says his son.

Janite Lee

Janite Lee of Missouri won $18 million in 1993. Lee was very kind with her money and shared it between a variety of causes, such as political party organisations, education schemes and the community services. Reports later claimed that seven years later, Lee filed for bankruptcy with just $700 remaining in her account.

Evelyn Adams

Evelyn Adams was the lucky double lottery winner who won in both 1985 and 1986, totalling $5.4 million. Now, Evelyn has no money and says, “Winning the lottery isn’t always what it’s cracked up to be.”

Evelyn won the lottery in New Jersey twice but now lives in a trailer. She lost the money in slot machines and couldn’t say no to relatives and friends.