Business development · 3 August 2017

One in four would invest in a business after winning the lottery

Lottery
Most of us would chose not to inform work if we’d won the lottery, the survey found

A quarter of people in the UK would chose to invest in a business venture if they won a substantial amount of money, in a competition or the national lottery, according to new research.

Around 36 per cent of people would opt to continue working after winning the lottery, while 16 per cent said they’d go and work for a charity, a survey or more than 2,000 UK workers showed.

The survey, carried out as part of the Working After Winning research project by gaming firm Wink Slots, revealed some of the most popular industries and sectors people choose to invest in after winning the lottery jackpot.

Bricks and mortar assets are overwhelmingly the favourite things Britons chose to invest in after a lottery win, with 27 per cent of people revealing property would be first on their list of business investments.

Out of those people who’d chose to invest their lottery winnings in a business venture, the following sectors also proved popular:

UK industry Percentage of people who’d chose to invest jackpot winnings in a business
Banking and finance 19
Hospitality 18
Automotive 14
Tourism and Leisure 14
IT 6

Some 11 per cent of the survey’s respondent workers said they’d retrain for a new career after winning a large amount of money, with the digital media industry found to be an area most people would opt to go into.

Other popular industries workers would wish to retrain in are the film industry (18 per cent), travel sector (16 per cent), music (14 per cent), sport (nine per cent) and the sciences (eight per cent).

The survey also revealed that the average UK worker would not consider anything less than a lottery win of £5.4m enough to quite their day job.

Commenting on the statistics, a Wink Slots spokesperson said: “The amount we would want to win before giving up our day job shows that we are cautious and tend to think long term when it comes to retirement – we want to ensure we have enough money to last through the years.”

As many as 83 per cent of us would chose not to tell our boss if we’d won the lottery, while just eight per cent of us would admit to how much we’d won, according to the survey. It is of little surprise that close friends and family would be the first to know about most people’s lottery win.

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ABOUT THE EXPERT

Fred Heritage is deputy editor at Business Advice. He has a BA in politics and international relations from the University of Kent and an MA in international conflict from Kings College London. He previously worked as a reporter at Global Trade Review magazine.

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