How do Lotto Winners Spend Their Prize Money?
Last Updated: Wednesday 24th October 2012, 10:15 am
When people win the lottery sometimes the winners have a clear idea of what they want to do with their winnings however some don’t, which leads to the questions how do Lotto winners spend their prize money? Well, the answer is clear as a new study has taken place which shows what Lotto jackpot winners do with their millions. In total the National Lottery has created over 3,000 millionaires since it launched in 1994, so what items do winners buy?
This study, which was research analysed by forecasting consultancy Oxford Economics have said that the most popular items purchased by Lotto jackpot winners were new homes, new cars and then also caravans. Among these Audi was the most popular make of car to buy and then going on holiday to America also topped the list.
However, these Lotto winners haven’t just spent their money on material things as over 3,000 millionaires have been created through winners giving their prize money to children, family and friends. Also, winners spent their money on setting up businesses as over 3,000 people have employed in businesses that were set up using lottery money.
Surprising the study also showed that only 59% of winners handed their notice in at work immediately and 19% carried on working.
What people decide to spend their Lotto winnings on is entirely up to them but this study just shows that most winners don’t just keep their prize money to themselves but use it to help others and do things that before the win were never a possibility.
Tuesday 16th February 2016