Winning the Lottery Is Not as Bad as Many People Think . . .

When my lottery ticket proves to be valueless, I console myself that most big winners experience nothing but misery – at least, that’s the popular wisdom.  The whole thing goes to their heads, and they run through the money quickly, without much pleasure or fun.  Well, it seems these winners are the exception, at least in Sweden.  A research student in Gothenburg has studied the outcomes in 420 Swedish lottery winners.

Anna Hedenus got replies to her questionnaire from all these contacts, and interviewed 14 of them in person.  Her questions covered the winner’s attitude to work and leisure before and after their win, and how much they were changed.

Whether the winner continued to work as before, cut back their hours, or gave up their job, depended in part on the size of their win. Two million Swedish kroner (roughly US $315,000) was the size of win used to select subjects for surveying.  Most people preferred to save the money as security for the future rather than making a dramatic change in their lives, such as stopping work.

Keeping working when they don’t really need a pay packet can be related to the winner’s desire for social contact and continuation of everyday routines, as well as job-satisfaction and identification with their work. 

The Swedish winners appear to be thrifty, and worry about spending their money on “the wrong things”, or that the money will run out. They also want to try and maintain their previous lifestyles and social environment.  But they report that they appreciate the increased senses of security and independence their nest-egg provides.

I seriously doubt that a similar survey of US lottery winners would provide similar results. Of course, the winnings are much greater in the USA than in Sweden – or so it seems.  But more important, the Swedish socio-economic environment, coupled with the average Swedish personality, probably leads to a more restrained response to sudden wealth.  I shall continue to buy my weekly lottery ticket, and trust that my chances of winning are so small that I’m unlikely to be faced with the problems following a big prize. (But I would risk a week or two in Las Vegas!)