Lotto Winners Buy
what lotto winners spend their money on?
whether money will change you, or your relationships with friends
the fascinating results of this survey this will surprise you.
the British lottery organisation, did a survey of 65 Lotto winners
who won over £1 million (that's about US$1.19million,
or Canadian $1.57million), to find out a bit more about their
press release can be found
but here are the main parts of the survey. They include whether
money can buy you happiness, what winners do in their spare
time, if they lose weight after a win, where they spend their
vacation and whether they stay married.
But are they happy?
Contrary to popular belief around 70% of Lotto winners say that
they are happier now than before their win. 28% of winners say
that they are just as happy as they were before the win. The
amount won does not seem to make a difference to the levels
of happiness experienced. Those who have won £1 to £3
million are just as happy as those who have won more than £3
million. The main reasons for the increase in happiness are
having greater security and no money worries, (57%), they can
buy what they like, (28%) and being able to look after their
family and friends, (12%).
do they do with all that spare time?
Winning the Lotto does not tend to make winners take up new
hobbies. Of those who do take up a new hobby the majority play
golf, (25%). The more bizarre hobbies include Scuba diving,
clay pigeon shooting and sponsoring a motor bike racing team.
have they spent their money on?
Purchases immediately after the win include a car, (34%), new
clothes, (11%) and jewellery, (11%). Some winners have made
rather odd choices with their new money. Immediate purchases
include a pushchair, a fan belt for their mother's car, a mobile
home and a new bed for the dog!
hearted winner commented in the survey:
"I bought two briefcases and then went to the bank and
took out £175,000 which I shared with my boss and work
the most expensive single purchase was a house, (77%), followed
by a car, (14%).
list of luxury items bought contains a few surprises. Some of
the more unusual purchases include:
1. Swimming pools/ outdoor spas
2. Luxury cars/ sports cars
3. Horses and race horses
4. Pets and pet equipment
5. Rare coins and banknotes
6. A flight with Leeds United to Madeira for a football match
7. Hastings Town Football Club
8. An operation to have their ears pinned back
9. A power hose!
10. A pair of flowery toilet seats at £100 each
have given up to 30% of their winnings to their family and up
to 10% to their friends. Ray and Barbara Wragg from Sheffield
have given away over £5 million of their £7.6 million
winnings to friends and family and a variety of charities.
they given any money to charity?
Two thirds of the winners have given between 1-10% of their
winnings to charity. Interestingly, men tend to be more generous
and give away more of their winnings than women. 13% of men
had given more than 10% of their winnings away whilst the survey
reported that no women had given this much away.
do they live?
A large number of winners have moved house since their win,
(71%). This figure is a significant increase from the survey
in 1999 when only 53% of winners had moved. Winners tend to
want to live near their friends and families and not move too
far away. They move an average of only 14 miles away from their
previous home, with 59% of Lotto winners living between 0 to
5 miles away.
of winners, (93%), have moved to a detached home with an average
of four bedrooms. One fifth of those interviewed own property
abroad, with Spain, France, Greece and USA being popular destinations.
cars do they drive?
After the win 27% of jackpot winners bought a brand new BMW,
21% bought a new Land Rover and 19% bought a new Mercedes Benz.
The top ten cars bought after the win are as follows:
2. Land Rover
3. Mercedes Benz
5. Ford Escort/ Focus
6. Other Jaguar
7. Jaguar S-type
8. Ford Mondeo/ Sierra/ Cortina
9. Other Ford
they given up work?
After winning the jackpot a third, (31%), of Lotto jackpot winners
still work. Of those winners who still work, 59% have got a
new job. 60% of winners who are still working but in a new job
have started their own business.
do they go on holiday?
A recent survey from The Office of National Statistics, 2002,
shows that Spain is the most popular destination for UK residents
travelling abroad on holiday, with France, U.S.A., Greece and
Ireland not far behind.
89% of winners
have been overseas on holiday since their win. They tend to
travel further afield to more glamorous places with the Caribbean,
Spain and America being favourite destinations. Before the win
over a quarter of the winners spent their holidays in the UK.
ten destinations for jackpot winners are as follows:
2. Spain, Majorca, Minorca/ Ibiza/ Canary Islands
7. New Zealand
9. The Far East
ABTA/ MORI research conducted in October 2000 asked, "If
money were no object, where would you like to visit on holiday?"
An overwhelming 22% of UK residents responded with Australia
and 11% with the U.S.
their relationships changed with their friends and family?
Contrary to reports in the media 95% of winners who were married
before the win are still married to the same person. 93% of
winners still have the same best friend as before the win.
they put on any weight since the win?
42% of Lotto winners have gained weight since their win. This
gain in weight seems to reflect the more sedentary lifestyle
caused by giving up work, eating out more frequently and drinking
more alcohol! 48% of Lotto winners have stayed the same weight
since their win and 11% have lost weight since their win.
Despite their win, most winners continue to play and many are
hopeful of coming up trumps again. 82% of jackpot winners still
play the Lotto every week and around half use the same set of
winning numbers. 21% are very confident they will win another
large amount again.
Professor of Economics at Warwick University commented on this
new survey is consistent with the latest statistical evidence
gathered by economists and psychologists. A large windfall of
money produces higher levels of happiness and better psychological
health. The scientific evidence suggests that this is probably
because of the greater amount of control that it gives people
over their lives; it is not directly because of the extra possessions
they can buy.
in the bank equals security, and human beings thrive on security.
The typical lottery winner behaves sensibly. The idea that a
lot of money will ruin your life is simply false.
of our evidence shows that part of the psychological benefits
wear off. Consistent with common sense, the immediate euphoria
from a win dampens down. But the latest research suggests that
there are very long lasting psychological gains from a financial
new survey also reinforces a discovery made over the last few
years by economics researchers. It is that those who receive
windfalls, whether from inheritances or from sources like the
lottery, are much more likely to set up their own businesses
later on in life. Windfalls of cash stimulate entrepreneurialship."
you are... start planning to win, because the news is all good!
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