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June 27, 2017

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British lottery winners get a jacuzzi and keep on working

LONDON--One in five lottery winners in Britain carry on working after they hit the jackpot and one third invest in a jacuzzi, according to a survey published Monday.

The study of 3,000 winners who became instant millionaires showed only 59% handed in their notice immediately after their life-changing windfalls, while 19% carried on working.

Subsequently 31% performed unpaid voluntary work.

Their favorite holiday destination was the United States and their car of choice was an Audi, but the survey also shows the wide-ranging impact that a big win had on their family and friends.

The National Lottery released the study to mark the creation of 3,000 millionaires since the game was introduced in Britain in 1994.

It showed that winners had shared their good fortune with their children, family and friends, creating an additional 3,780 millionaires.

One of the first purchases was a new house — they bought 7,958 — and a new car, with 17,190 being driven out of showrooms.

But winners have also started or supported 900 British-based businesses employing a total of 3,195 people.

Almost all of the new millionaires' spending remained in Britain, with just two percent of the winnings being lavished abroad.

Their spending contributed almost 750 million pounds (US$1.2 billion) to the British economy and generated over 500 million pounds in tax receipts.

Andy Logan, co-analyst and author of the report from forecasting consultancy Oxford Economics, said: "The effect of a win spreads much further and wider than we anticipated.

"Not only does it transform the lives of friends and family, but each win has a measurable effect on the UK economy, especially with so much of it being spent in the UK."

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