According to a study by the University of South Africa, 70% of lottery participants dream of winning the jackpot. In addition, they plan in advance what they will spend their winnings on. For example, sports cars, big houses, starting their own business or a long holiday. 

And some people do win big money, but they spend it on something else. For example, 41.80% of lottery winners spend their winnings on even more lottery tickets. On the other hand, less than 1% of them spend their winnings on a vacation.

Here is the difference between the thinking of winners and potential winners in terms of several possible ways of spending the won money:

Buying basic necessities:

• 67.70% (winners);
• 19.10% (potential winners);

lottery tickets:

• 41.80%;
• 4.70%;

Giving it to my spouse/partner/family:

• 26.10%
• 11.10%

Settlement of debt: 

• 8.10%
• 14.70%

Entertainment:

• 7.80%
• 3.70%

Buying luxury goods:

• 6.60%
• 10.10%

Payment of study fees:

• 5.20%
• 14.40%

Buying real estate:

• 4.30%
• 42.20%

Investments: 

• 2.90%
• 21.80%

Donations:

• 1.20%
• 13.20%

Travel:

• 0.80%
• 8.50%

As you can see, after winning the lottery, many people radically change their expectations about spending prizes. However, regardless of this, 34.9% of SA lottery players confirmed that winning the lottery significantly improved their financial position.

Most of the winners spend their money on household necessities. At the same time, most potential winners would prefer to buy real estate. However, only 4.30% of the lottery winners actually buy their own house. A lot more people spend money on luxury goods, jewellery and expensive cars.

21.10% are sure that they will invest the money they have won in the lottery. However, only 1.20% of the winners actually do so. Investing in business or assets is much more complicated than it may seem at first glance. The very essence of the lottery plays a big part in this. Let it be clear: you get a huge amount of money in one day. Even if you did have a plan, there is a very good chance that you will simply forget about it because of excitement and joy.

It is noteworthy that lottery winners from other countries spend the money they win in a similar way. In the UK, for example, lottery winners spend their winnings on real estate, luxury cars, gifts for relatives and more.

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