New academic study of thousands of Swedish lottery winners say it actually DOES and findings can be applied across the globe, even in Nigeria!
- The research studied Swedish lottery winners and suggested they were happier
- It also showed that bigger lottery jackpots led to more psychological well-being
- Experts said the trial worked well because of the random nature of the lottery
Having more money really does lead to a happier and more satisfying life, a new study has suggested.
The research, which studied thousands of Swedish lottery winners and the long-term psychological effects, suggested the recipients were happier even two decades after their triumph.
The paper, called Long-run Effects of Lottery Wealth on Psychological Well-being, also showed that winning bigger lottery jackpots led to more happiness in the future.
Experts said the trial worked well because a lottery win was a random event which screened out other differences between people, the New York Times reported.
The research, which studied Swedish lottery winners and the long-term psychological effects, suggested the recipients were happier even two decades after their triumph
Similarly, the random nature of the size of the lottery win meant researchers could reliably measure how much effect the money had on people’s happiness.
Erik Lindqvist of the Stockholm School of Economics, Robert Ostling of Stockholm University and David Cesarini of New York University carried out the study.
Mr Cesarini said there was a ‘widespread misperception that science has proved that winning the lottery often makes people miserable’.
The research also suggests that the findings, although obtained in Sweden, can be applied around the world, it was reported.
Last week it emerged that radical changes to the National Lottery may see the introduction of a game which gives winners a monthly payout for life.
Players could claim a regular payout of £10,000 rather than one lump sum.
The move is part of a wider bid to reverse falling ticket sales. The Lotto has suffered a disastrous 22 per cent drop in tickets bought over the past two years.
The new boss of Camelot, Nigel Railton, said efforts to rebuild sales will focus on highlighting how the lottery supported community groups, charities, culture and sport.
The random nature of the size of the lottery win meant researchers could reliably measure how much effect the money had on people’s happiness