HB Insights

How Australians Would Spend the Winning $80 Million Powerball Jackpot

How Australians Would Spend the Winning $80 Million Powerball Jackpot. Photographed by Dylan Nolte. Image via Unsplash.

You have to be in it to win it – and we know exactly how Australians would spend it if they won.

Pick out your favourite numbers and be sure to buy a ticket, because Thursday night’s $80 million Powerball jackpot is only a one in a 134,490,400 chance of winning.*

We can all admit that there’s been a few times where we’ve thought about how we’d like to spend the money won from the lottery. We’ve debated what car we’d buy, whether we would retire, donate to charity and, interestingly, we’ve all even thought about whether we’d tell our closest family and friends.

To find the winning result, Hunter and Bligh conducted a survey of their Australian members which revealed that most of us love to live by the motto of, ‘you have to be in it to win it’, with 53 per cent of us purchasing lottery tickets every now and then and, interestingly, around a third of us (32.6 per cent) playing regularly. From this more than half of the respondents have won small amounts.

Less than two per cent of Australians have won a substantial prize in the lottery.

Between the celebrations and finally being able to purchase that one luxury item we’ve had our eye on for a while, the survey showed that Australian lottery players are a generous bunch with almost half (48.7 per cent) of responders saying that they’d share their winnings with family. Meanwhile, fewer than one in 20 wish to keep it all for themselves saying that they wouldn’t share the prize with any other family member.

And, despite the excitement of being $80 million richer, we’re also a humble bunch as the survey recorded that around two in five would only tell their family. If you love to spread the news, on the other end of the spectrum, for the braggers and boasters out there you are joined by just 1.9 per cent of Aussies as loudmouths wishing to tell everyone.

So how would you spend your winnings from the $80 million Powerball jackpot? If you’re like us and you’ve thought about a general plan one way or another, you’re not alone. More than half of Australians know to some extent what they would do if they won the lotto. 78.7 per cent of Australians would invest their lottery winnings in property, with 46.5 per cent investing in shares. In true Aussie fashion we’d like to help others with a few respondents saying that they’d use their winnings to support charities, help their kids get into the property market and invest more in superannuation.

What would you do if you won the $80 million Powerball jackpot? Join in on the conversation on our Instagram, Facebook or Twitter now.

Data received by Hunter and Bligh and conducted by CoreData Research, a global specialist financial services research and strategy consultancy. The survey was conducted in April 2021 and received results from 2256 Australians.
*Information sourced from The Lott’s website.
Feature image: Photographed by Dylan Nolte. Image via Unsplash.
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