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32 of 38 people found the following review helpful:
4.0 out of 5 stars
Here's the scoop on this one, March 20, 2008
I urge you to read this fascinating story of one man who worked for "The Firm", a company who gave cash payments to lottery winners who (not surprisingly) needed those payments all too often - even after winning the lottery. As you've probably heard (and it is true) lottery winners often don't understand how to manage their winnings or how the money is paid out. That is where people like Mr. Ugel come in, earning a living from the ignorance of the winners. Before you rush to judgment, you can be sure that Ugel judges HIMSELF - and is quite open about his own shortcomings. That was what made the book so fascinating for this reader, as well as the way he interspersed his own life story with the job. It became clear that he wasn't so different from those he fleeced. This is a very honest look at one side of the lottery business, one that allows people like Edward Ugal to make deals with lottery winners and -by his own admission - make a living by using their weaknesses to gain an advantage. But here's the kicker: Ugel did so well at this because he was as much a victim of this gambling bug as his victims. If you are expecting a book which focuses only on lottery winners and losers, this book isn't that sort. Instead, it is a revealing look at one man's life as well as the lottery business. It jumps back and forth in time quite a bit. Even so, I found it very entertaining as well as sobering. It sure cured me of any desire to gamble! It all makes for one riveting book. I couldn't put it down. Prepare yourself to be both entertained and diverted as well as ready for the unexpected. This one doesn't go where you think it will but it is honest, informative and enlightening. It is no secret that gambling and games like poker have captured the public imagination, perhaps more so than ever before. Read this book and up your learning curve!
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17 of 20 people found the following review helpful:
5.0 out of 5 stars
Human Nature, January 24, 2008
Money For Nothing, by Edward Ugel is deceiving. It's so entertaining, so laugh-out-loud funny that you don't realize you're getting serious insights into human nature. It made me think of the tried and true therapy trick: if money weren't an issue, what would you do? If you've always been worried about financial security you have a tendency to think that enough money would solve a multitude of problems. But as Ugel's book so artfully show us, that is hardly the case. There are clearly many more problems than solutions for the hapless lottery winners...and the business people who serve them. Movies and television have done us all such a disservice, that it is refreshing to see the happy high roller myth debunked. What makes this memoir work for me is Ugel's self deprecating humor and the way it masks his very real regrets.In the same way that the best crime dramas show detectives lamenting their similarities to the criminals they pursue, Money For Nothing reveals how even the most glamorous jobs are still work, not hobbies. And in this case work erodes even the most successful and jaded salesman's moral fiber. Ugel is brutally honest about himself and his shortcomings. It's a courageous first book and I look forward to his next...is there one?
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6 of 6 people found the following review helpful:
4.0 out of 5 stars
A Must read for anyone who buys lottery tickets!!, August 7, 2008
You win the lottery and think you are an instant millionaire! THINK AGAIN!! Ugel has written a true story of his experience working for a company he is forbid to name, tracking down high end lottery winners who receive monthly payments instead of one lump sums. Your number comes up, you are excited, and then when you run to turn in your ticket, where you discover that the 3 million dollars will be taxed at 50 + %, then you will receive approximately 70,000 yearly for multiple years..... Doesn't exactly make you rich. Thats where the "firm" comes in. They will hound, harass, beg, borrow and even steal to gain the right to your monthly payment IN EXCHANGE for a huge amount of interest so they can graciously hand you over a larger lump sum. Many paragraphs were repetive, and even boring. I suspect this is because he mentions early in the book that when he became employed with "the Firm," he had to sign a wavier stating he would never ever disclose any details of anything having to do with the Firm. Given the restrictions on his employment application, I feel Ugel did an excellent job of informing the public as much information as he was legally allowed to do. Basically, there are hundreds of firms who zero in on lottery winners (and now people who are awarded annunities from accidents payable over a certain time), and try to "buy" their annual payments. In doing so, the person looses A LOT of money, but the company gets richer and richer. Ugel spent time discussion his own battle with playing machine poker in the casinos, and his feelings of taking money from clients where he knew the deal would hurt them. This book is NOT about how lottery winners spend money, but rather how people take advantage of these winners, and track them down at all costs. Its definately a book worth reading. There are just enough actual stories of certain winners to keep the otherwise dull book sparkle. I recommend it highly, especailly if you buy lottery tickets
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