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How Do Lottery Millionaires Spend Their Money?

How Do Lottery Millionaires Spend Their Money?

A new survey has revealed that lottery millionaires prefer to spend their money on experiences rather than possessions, although treating loved ones is the most fulfilling way to splash the cash, it says.

The National Lottery recently made its 5,000th millionaire when David and Donna Stickley came forward to claim the £21 million Lotto jackpot from Saturday 12th May.

To celebrate the milestone, previous big winners have been asked about what they did with their wealth. Camelot's National Lottery Millionaire Report shows that 53% are spending their windfall on experiences, in comparison with the 39% who have favoured possessions. The stats show that 8% have divided their money equally between the two.

Among the most popular experiences, 21% have taken a helicopter ride, 20% have visited Disney World and 19% have swum with dolphins. Others have been to see the Northern Lights, gone on safari, travelled to Lapland or been whale watching.

Winners still like to indulge in some treats for themselves, though, and the three items which remain most popular are Range Rovers, hot tubs and jewellery. Other purchases have included a garden football pitch, a pub, and pet lambs, but it is reported that lottery millionaires are now preferring to spend their money on camper vans, games rooms and coffee machines.

The Best Way To Spend £1 Million

The survey also shows the generosity of winners. The vast majority - 98% - have given away some money as a gift to other family members, and 57% said they had made their child or children millionaires. It was found that lucky players had given away an average of 19% of their winnings.

Almost half of winners (47%) reported that giving gifts to friends, family or charity had given them the most pleasure from their win, above retirement or any significant purchases.

The National Lottery’s Senior Winners’ Advisor Andy Carter said: “After the shock and excitement, nearly all winners' first question is how they can look after their nearest and dearest. In many cases this seems to bring the winners even greater joy than thinking about how they can treat themselves.”

Could You Be The Next Millionaire?

The National Lottery creates hundreds of millionaires each year and it will not be too long before the next milestone is ticked off and another survey is carried out. If you want to be one of those who is asked about how you spent your big win, you will first need to try and snap up a fortune.

The Lotto jackpot on Wednesday stands at £1.8 million after two players also split a top prize of £9.2 million in the Lotto draw on Saturday 26th May. There will also be a phenomenal £64 million up for grabs on EuroMillions this Friday night. If you fancy taking part, you can visit an authorised retailer or join an online syndicate.

Published: Wednesday 30th May 2018

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