Most Potential Lottery Winners Would Share Their Prize With Others

October 18, 2018

Dreamstime

No one won the $430 million in Powerball last night (10/17/18) while the prize for Friday's Mega Millions jackpot (10/19/18) is now estimated at $900 million, second only to the $1.59 billion Powerball lottery in 2016. We all have a list of things we'd do if we won the jackpot.  A survey of by TD Ameritrade of 1,100 lottery players found that we would be generous with our winnings. 33% said they'd share their prize with others, 21% said they’d save or invest for the future with just a mere 9% saying they’d quit their job. There’s evidence to suggest that lottery winners do, in fact, give a lot to others. A report from The Journal of Gambling Behavior says that contrary to popular beliefs, winners did not engage in lavish spending sprees and instead gave large amounts of their winnings to their children, their charities of choice and their churches. The study also found that many people didn’t immediately say sayonara to their bosses. “Individuals with psychologically and financially rewarding jobs continued working regardless of the amount they won, while people who worked in low paying semi-skilled and unskilled jobs were far more likely to quit the labor force. The TD Ameritrade survey also found that more than eight in 10 Americans are certain that winning all that money would improve their lives, but research shows that getting a windfall doesn’t necessarily make you happier. Indeed, lottery winners have roughly the same level of happiness as the average person, according to a study in the Journal of Personality and Social Psychology. The odds of winning Friday’s $900 million Mega Millions is one in 302,575,350!

SOURCE: Moneyish

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