If you woke up one day to discover you are the winner of a UK National Lottery jackpot, what would you do? Would you spend like crazy or save for a rainy day? Would you buy a new house? Where would you travel to? Here’s a peek into the coveted life of lottery winners and their spending sprees.
A recent study by Camelot and Oxford Economics claims that the UK National Lottery has created three thousand millionaires, each taking an average jackpot of 2.8 million, and a total of 8.5 billion in prizes combined. What’s on every lottery player’s mind is “What will I do with all that money?”. So how do these lottery winners spend their millions?
A Perfect Home
The most popular item on any lottery player’s wish list is a fancy and comfortable home. The UK Lottery millionaires spent a total of £3.3 on different properties. Most winners changed their main home to a new one, with an average cost of £900,000. Each winner owns an average of 2.7 properties in UK. Most of those new luxury homes include hot tubs, walk-in closets, lavish game rooms and electric gates. Over 30% of the winners maintain their new and stylish place with the help of cleaners, and 24% also choose to hire a gardener.
Maintaining the Wealth
The second most popular thing for lottery winners to spend money on is their financial future.. Hopefully, when investing wisely, lottery winners can count on their fortune to do the work for them and for generations to come. £2.12 billion of UK National Lottery winners’ money was spent on investments intended to provide future income. In addition, as the research shows, Lottery winners kept 98% of their spending inside the UK, and gave back almost 750 million to the UK economy, through taxes and properties purchased.
The Life of Luxury
A fancy car is one of the most desired items for lottery millionaires. According to the research, £460 million were spent by winners on various luxury cars, Audi being the most popular. Range Rover and BMW came in second as the most desired car for lottery winners. Last but not least were Mercedes and Land Rover. The average price for a car purchased by a lottery winner is £46,116 and an average of 5.73 cars were purchased by each winner.
Another desirable luxury item to spend on is a vacation. 27% of the winners choose USA as their most frequently visited vacation destination. The second most popular destination is The Caribbean, followed by Dubai and the Canary Islands. Millionaires truly travel in style, as 68% visit five star hotels frequently.
Everyone dreams of joining the elite club of the rich and famous, own a big house and never have to worry about money again. This future can very well be ours, if you choose the right numbers and buy a ticket today!