What would a big jackpot win buy you?
Last week, one lucky ticket holder from the UK scooped an amazing £36.3m jackpot in the Euro Millions draw. The winner, who so far remains anonymous, is the 18th biggest winner in the history of the National Lottery.
The biggest winners still being Colin and Chris Weir who were based in Largs, Scotland who pocketed £161m in July 2011.
While Friday's lucky winner may have pocketed just slightly more than a quarter of that biggest ever lottery win, the £36.3m jackpot is one that will certainly change the life of the lucky winner forever and afford them opportunities that they never before could have expected to enjoy.
Of course, if you are from a different part of the world, then just how much is £36.3m in UK Pounds based on your local currency? Well based on today's exchange rates that equates to:
- $55,126,995 in US Dollars
- $78,493,336 in Australian Dollars
- 53,802,299 in Swiss Francs
- €49,282,069 in Euros
- 6,626,457,743 in Japanese Yen
- 3,613,039,905 in Indian Rupees
So it is fair to say that from whatever part of the world you are from, the amount won is a considerable amount of money and while everybody has their own idea of what they would buy. Here's what you could afford to do if you were the lucky winner of such a huge jackpot.
1. Pay off your debts
A report in the Guardian Newspaper in early 2015 revealed that the average UK household will be in debt to the tune of around £10,000 by the start of 2016. The good news for any lottery winner is that paying off such a debt would only be 1/3630th of your entire cash win. That means you'd still have £36,290,000 to play with in your bank account.
2. Buy a Home
Now, if you wanted to move into a new house with the proceeds of your win then you could easily afford to do so. The cost of a house in England and Wales on average, outside of London is £184,682. However, let's assume that our lottery winner is looking for something a tad more stylish.
How about if you want to follow the adage of an "Englishman's home is his castle" by actually owning one? Well Castle Gogar in Edinburgh, Scotland is currently on the market and this detached castle, build in the 17th Century and recently renovated boasts a massive 2.9 acres, four paddocks as well as staircases, turrets, battlements and turnpike staircases.
Best of all, you can own this with an offer of £2.5m, which would leave you with plenty of change. £33.8m to be exact.
Of course, things are different in London where average house prices are far higher at £493,026. Here your £2.5m could buy you an modern 2 bedroom apartment in the prestigious locations around Kensington, Belgravia and Chelsea.
3. Buy a Holiday Home
One of the first thing any big money winner does is jet off to enjoy a holiday and to come to terms with the fact that they have now changed their lives beyond all recognition. So if you have over £30m burning a hole in your pocket, you don't have to bother with hotels or rented villas anymore, why not buy your own?
There are a selection of villa's available for sale ranging in price from $200,000 up to $1m or more in the areas around Walt Disney World Resort in Orlando Florida, while the holiday villa market in European resorts of Spain and Portugal are starting to recover after the slump in prices brought about by the financial crisis, indeed now may be the ideal time to buy with property prices seeming to have hit bottom and now slowly starting to eke upwards.
4. Buy a Car
Of course, £36m can buy you a fleet of cars, but let's assume our lucky winner would prefer something a little more refined and exclusive? How about the exciting Koenisegg One? The Swedish-made super-car boasts an incredible 1340 horse power and has a theoretical top speed of 273 miles per hour. That's faster than a Bugatti Veyron. The asking price is $2m (£1.31m in British pounds) which barely puts a dent in your winnings.
5. Invest and live off the interest
We've often heard that interest rates aren't that great for savers at the moment and for small-scale savers that is certainly the case, but if you have, let's say £25m to invest, then things are a little different.
Even an annual earning rate of just 3%, if you invested £25m, would pay you £750,000 in cash alone. You could then fritter away the other £8.3m as you saw fit.
6. Buy something outlandish
Have you always harboured an ambition to own something different to the norm? Well the good news is that with £33.6m in your back pocket, you can start to fulfill more than a few of those dreams?
If you fancied owning your own golf club for example, then you could look into purchasing Huntswood Golf Course in Buckinghamshire. This 18 hole course, practice putting green, practice hole, clubhouse and adjoining woodland consisting of 102 acres in total is available for £1.75m.
If yachts are more your thing then this beautiful 2008 130' Westport Antares super yacht, currently located in Palm Beach Florida, would set you back around $11.9m US Dollars (around £7.8m in UK Pounds).
If you had the yacht then you may need somewhere to moor it and how about your own private island in the Bahamas? Johnny's Cay is a private island that is a 7 minute boat ride from Hope Town and already has a two-bedroom main residence ready for you to move into as well as a separate guest house for friends and family. With white sand beaches and azure blue waters, this little slice of paradise could be yours for $5.95m, which is just shy of £4m.
Alternatively, you could buy yourself an out of this world experience for as little as $250,000, by deciding to become one of Virgin Galactic's potential astronauts when its first flights take to the air at some point in the next few years.
So remember, as much as it is nice to think about winning a big win on a slot, lottery game or similar, knowing what you are going to do with it is just as important!
Byline: This article was published by Mega Moolah expert Henry. Media and other enquiries.
Next article: Exploring how progressive jackpots are won