LONDON, October 17, 2017 /PRNewswire/ --
The life of a jackpot millionaire is often hailed as one of the most sought after, full of endless supplies of Bollinger and caviar, sports cars, and private island-hopping. However, Lottoz, the new global lottery platform which officially launches in the UK this month, has found that we Brits have altogether more modest, realistic ambitions. In a study of 2000 British lottery players conducted to mark its launch, Lottoz found that the average British player craves just enough to do up the house, take their family on holiday and be debt free.
Far from the billion dollar prizes, 61% of British players would be happy with no more than £500,000, with 20% satisfied to win just £20,000. The 10 most popular spends with their modest winnings are:
- Buy a new home
- Take the family on holiday
- Give money to close friends and family
- Buying a new car
- Pay off credit card debt
- Pay off the mortgage
- Give to charity
- Buy gifts for my loved ones
- Go on a shopping spree
- Give the home a makeover
"It appears that for many Brits, the desire to live debt-free and raise their living standards by a notch or two is more important than a millionaire lifestyle," says Lottoz CEO, Dave Avila, "Modestly, they simply like the idea of extra financial cushioning to make their lives run a little easier. We are all dreaming of a better tomorrow, rather than private jets, yachts and island-hopping. By enabling betting on international lotteries with better odds and a lot more opportunities for 2nd and 3rd tier prize winnings, we bring people one step closer to realising these dreams."
According to the findings, British men are far greedier than women. When it comes to winning cash, 29% of men surveyed said they would want to win £1 million or more, compared to 83% of women who would be happy with under £1 million.
The survey also revealed that 1 in 5 25-34 year olds are happy with a smaller prize of just £20,000, compared to 16% of over 55s. 25-34 year olds prefer to spend their winnings on putting a deposit down on a first home, getting married or travelling. Older respondents prefer to spend their modest jackpot on making their lives and others comfortable for years to come by putting prize money towards retirement or saving it for their grandchildren.
Along with enabling more wins, Lottoz mission is to engage new younger players with the lottery. Dave Avila explains, "The average National Lottery player is ageing and the industry and needs to change. It's our mission to open up the world of lottery to a new audience by offering access to international games, new prizes, using new technology. People order gadgets and even cars on eBay and sublet AirBnB apartments on the other side of the globe with one click. Why should they queue for tickets and head into newsagents or supermarkets to collect their winnings? Why should they believe they could be a billionaire? They want international lotteries, fun games, a variety of prizes and instant access at the tap of a button."
Lottoz conducted the study to help understand the best jackpots for its new .co.uk site, which offers players the chance to bet on the results of 14 global lotteries including the big US Powerball, the EU's Euromillions, The Irish Lottery and Bonoloto.