Consumers rely on lottery in case they lose their jobs

Whilst a huge number of us buy lottery tickets every week in the hope of hitting the jackpot or at least securing something substantial, the chances of actually winning big are minute and for the majority of us will never happen. However, despite this, recent research has revealed that there are many people who are hoping that a lottery win will sort them out financially in the event that they lose their jobs.

Worryingly, a large number of people now have no insurance in place to protect their income in the event of a job loss and are instead looking at other options to tide them over financially, with some stating that they would use savings, others relying on family and friend to help them out, and some relying on a lottery win to ensure that they can get by if their income is suddenly cut off.

The research was conducted by British Insurance, and according to the results, around 59 percent of workers were worried about the security of their jobs, which equates to around 17 million workers. This figure reflects an increase of 7 percent compared to the survey last year. However, fewer people now have any protection in place, with 20 percent of workers having protection in place last year but only 14 percent having protection according to this year’s survey.

One official from the company said: “Although we’re told the UK is coming out of a recession, this confidence is clearly not shared by the majority of workers. And with economists predicting that the economy will stagnate over 2012 or suffer a deep recession if the eurozone situation deteriorates, it’s advisable to have a plan to replace any future lost income without dipping into savings or falling into debt.”

Tags: eurozone, Worryingly, recession, Gambling, survey, economists, Recent research, future