What lottery winners do with the winnings

I hope you were among the lucky 4 winner, who won the largest jackpot in Canadian history over $50 Million.

Over the weekend I asked what you would do if you wont the lottery and promised to post results from the OGL survey.


Ontario Gaming League does a survey of winners who have won over $1million and asks what they did with money, many are very conservative with the winnings here is a quick result from a past survey:

  • 90% banked the money
  • 65% purchased a new car
  • 60% paid off debt
  • 56% went on vacation
  • 48% shared winnings by donating
  • 38% became mortgage free
  • 36% purchased a house
  • 31% paid for education for themselves or their family.
  • 14% changed their overall lifestyle.
  • 7% bought a boat.

How does that compare to what you would do?

One Response to What lottery winners do with the winnings

  1. I’d add it to our savings for retirement, and possibly pay off the mortgage, which currently has about 7 yrs left.
    We are fortunate to be at a point in our lives when after putting away over 20% of income toward retirement, there’s still some money to save for the ‘wants’. I have no desire for boats or a newer car. Actually, I’m not a car guy, $1M or $10M, I’d not change the car. $100M, I might stop driving altogether, and just hire a driver. But any money now that comes in just gets saved or used to pay down the mortgage.

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