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Lottery Hits 3,000 Millionaires Jackpot

Lottery Hits 3,000 Millionaires Jackpot

The National Lottery has created 3,000 millionaires since it began in 1994 and most of them kept the majority of their winnings in the UK, a new study has said.

They have bought 7,958 homes, 17,190 new cars and 300 caravans, according to the research analysed by forecasting consultancy Oxford Economics.

The most popular car among winners was an Audi, the favourite holiday destination was the United States and almost one-third of those questioned now had a jacuzzi at home.

They have made a further 3,780 millionaires among children, family and friends.

The study also revealed 98% of what the winners spent remained in the UK economy, while 900 businesses employing 3,195 people have been set up using lottery money.

Andy Logan, co-analyst and author of the report from Oxford Economics, said: "The effect of a win spreads much further and wider than we anticipated.

"Not only does it transform the lives of friends and family, but each win has a measurable effect on the UK economy, especially with so much of it being spent in the UK.

"The use of each win creates a ripple effect across this generation and very often the next."

Winners' spending contributed almost £750m to the UK and generated over £500m in tax receipts for the UK Exchequer, the study said.

Surprisingly only 59% of the lucky 3,000 handed in their notice at work immediately and 19% continued working. Subsequently, 31% gave their time to do unpaid voluntary work.