We all buy lotto tickets now and then – even with the price hike that went on back in October last year. If you missed it, it now costs £2 for a National Lottery ticket, whereas it used to be £1. However, although the ticket costs a bit more, if you’re going to go for a big gamble, then the lottery is one that could pay off big style!
Imagine waking up £1 million richer than you were the night before. It would be life transforming, that’s for sure. Every person who buys a lotto ticket has a little daydream about how they’d spend the money, but what do the big winners actually do with it?
Since the National Lottery began in 1994, there have been 3,000 millionaire winners. Some have won significantly more than £1million, but the average is £2.8m apiece. That compares with the average PowerBall 1st Prize amount of $33 million, so those lucky winners have even more money to decide what to do with. The people at Camelot have carried out a survey to find out what the UK National Lottery millionaire winners choose to spend their money on, and the results aren’t that much of a surprise.
The first thing people tend to do is decide whether to carry on working on not. A surprising number – 19% – stay in their jobs, while the majority throw the towel in on their job (59%). However, about a third of the winners have got involved in some kind of volunteer work.
The money they win is spent on a new home, a new car, and investments for now and in the future. Lottery winners seem to be generous souls – with more than £1bn of the £8.5bn that has been won being spent on gifts for friends and family.
As for luxuries, there aren’t a huge amount of surprises here either. Lots of lottery winners splurge on a holiday, with the most popular destinations being the USA, the Caribbean and Dubai. Home improvements include luxuries such as the installation of hot tubs, walk-in wardrobes and games rooms.
The question is, though, what would you do if it happened to you? It’s worth having a think about it, as you could be the next lucky big winner!