Most Lotto winners stay in their jobs

Photo / Michael Craig

Nearly 90 per cent of big Lotto winners are still working in the same job they had before their lucky day.

A New Zealand Lotteries survey of 100 "big winners" has revealed what they spent their money on and what the experience has meant to them.

The survey has been released exclusively to the Weekend Herald as Powerball jackpots to $25 million tonight. If it is won, it will be the second-biggest Powerball win.

Based on the survey's findings, if there is a winner tonight, it is most likely they will splash out on their mortgage, as 24 per cent of winners did, or overseas travel (18 per cent). Another 18 per cent bought a new car.

And they are also likely to share the win with a charity (48 per cent).

A big winner is someone who has won Lotto first division, which ranges from about $300,000 up to $1 million depending on the draw, or Powerball, which ranges from about $4 million to about $30 million.

Eighty-eight per cent of the winners are still working in the same job after their big win.

Only three winners said they had retired because of the win and six others said they had changed jobs to something less stressful or part-time.

Lotteries chief executive Todd McLeay said the survey had revealed many quirks in the country's Lotto punters.

Winners said they hid their tickets under pillows, in sock drawers and even inside a chair.

"One woman even carried her ticket in her bra. She said that at 70, she knew it was safe there.

"We've found that winners are not particularly superstitious about how they buy their tickets, with 83 per cent having no special rituals. Six per cent will always go to the same shop, yet one winner will buy only in a town they haven't been to for more than five years. And one lucky winner said they'd rubbed the tummy of a Buddha statue the day they won."

Eleven per cent of winners said they bought a new house. Others bought boats or caravans or renovated their houses.

Among other purchases were a stallion, a pottery kiln, an electric drum kit and an engagement ring.

Five winners said they paid off debt.

Asked what the wildest thing they did after winning was, one winner admitted going to lunch with three friends and spending $1000.

Two said they went bungy jumping, another winner treated his wife to a helicopter ride and another ordered a new swimming pool.

When asked what the best thing about winning was, 56 per cent said financial security, while 19 per cent said helping out family and friends.

In October last year, a pig hunter from Papakura won the country's biggest single Lotto prize of $28.7 million.

The win was the single biggest because a $36 million Big Wednesday prize won in June 2009 in Masterton went to a family syndicate of four people.

Experts advise big winners to take their time with spending.

Craigs Investment Partners head of private wealth research Mark Lister said paying debt should be the first priority.

NZ Lotteries also provides support for winners to help them to cope with their newfound riches.

Striking it lucky

* 88 per cent of winners are working in the same job.

* 24 per cent pay into their mortgage.

* 48 per cent give to charity.

* 56 per cent say financial freedom was the best thing about winning.