It is possible lottery jackpot winners spent more than what they win.
We can simply make a simple calculation, lets say someone win $40m from the jackpot after so many years of buying tickets every single day.
Do not say that people dont have such money because actually it is a total amount for so many years.
It is indeed rare but is still possible to happen but I still believe that most lottery jackpot winners are in decent profit.
The list above is for the biggest win with the lowest bet so I'm not sure for your calculations above, I assume the capital calculation is under $100k for a $40 million jackpot win and some of them are pure jackpot wins without big capital, there should be a complementary article to explain the details of the capital that has been issued on the betting list above to avoid being over speculative. But the points above are rare and strange wins because no one can beat them and will determine the biggest jackpot win in gambling history with the lowest bet of all time.