What would you buy if you suddenly get a windfall after winning a couple of millions playing the lottery.
Yes, winning a lottery is a once-in-a-lifetime occurrence for majority of hopeful players. But what happens when one does score a jackpot? British gambling news usually mention how much and where has been won, when a jackpot gets taken, but what about the things that winners rush to buy first?
And no, it’s not the Ferraris and the Porsches, and not even houses to accommodate whole families in luxurious surroundings. A recent research sheds light on what perks and treats are on the minds of those who get a sudden windfall by playing a lottery under British gambling laws.
Study of winners
The study of overnight millionaires reveals surprising preferences in first purchases by winners
• Jackpot winners are not rushing to buy luxury items
• Those who scoop millions under British gambling laws tend to go for ordinary household items
• Washing machine is the number 1 item bought by overnight millionaires
Contrary to popular belief, lottery winners don’t rush for luxury items, instead choosing to purchase everyday household thing ranging from a new dishwasher to a comfy sofa. The study was conducted through a series of questionnaires and interviews, looking at the initial three purchases made by over 50 lucky lottery winners in the first 10 days after taking home lottery jackpots.
Naturally, the researchers themselves were pretty surprised with the findings, where instead of going on a shopping spree for luxury and status items, the new-born millionaires were hunting for everyday gadgets and budget fashion things for their first purchases. We have to mention that the minimum jackpot the participants of the study have scooped amounted to GBP 1 million.
Middlesex University Principal Lecturer in Psychology, Mark Coulson, commented the study results: “However much we might dream of winning the lottery, very few people actually believe it will ever happen to them. Although the extravagant items are now financially affordable, they are not yet psychologically affordable as they exist in an unfamiliar world – the world of the rich.”
Top five purchases by the overnight millionaires
However shocking it might sound, the number one item purchased by lottery millionaires among their first buys is a washing machine. This item has been purchased by over a quarter of participants. They have splashed an average of GBP 300 on it.
The second most popular thing to buy if you become a millionaire is the living room center-piece: the sofa. Over a fifth of respondents have chosen this one to be one of their first purchases. A bit less surprising, Apple iPad comes in third on the list of top priorities after winning a lottery, with 17 percent of winners choosing to buy the Cupertino technological wonder.
A brand new handbag is the fourth most desired item, with one in six lottery winners choosing it. Interestingly enough, one of the lady-winners admitted she has only spent GBP 30 on a new bag, despite having lots of zeros added to her bank account overnight.
Sporting outfits came in fifth place, but only because some of Premier League clubs punters bet on at online sportsbooks in the United Kingdom, are perhaps overcharging their fans for official shirts, making them an item of desire for new millionaires.
More comments and trivia
Among other top priorities for overnight millionaires to buy are vacuum cleaners, brand new TV sets, fridges, and even make-up lines. However, luxurious holidays are also there in the top 20 list, meaning that at least a portion of jackpot winners know how to treat themselves after a windfall of money. Well, brand new luggage sets are also there, but that’s probably just to pack up your new make-up for a luxurious holiday.
One of the organizers of the study commented: “One might expect a Euro-millions winner to splash out on a big purchase right away, but the results of the survey show the reality to be completely different. Brits are certainly a practical bunch, going for everyday essentials in the first instance over luxury extravagance.”
One of the winners who participated in the study after scooping GBP 1.8 million on the National Lottery, Roger Griffiths, said: “When we won it was such a huge amount of money we didn’t really know really where to start spending or what to do with it – the first thing I bought was four pairs of trainers. People have expectations of lottery winners that they just go out and spend, spend, spend but it really wasn’t the case with us in the beginning – though we have made up for it since though!”
Do you have a list of top 5 items you’d buy if you were lucky enough to win a lottery? Please share with us in the comments below.