How would you spend £20k?

Sounds lovely, right? A cool £20k hitting your bank account within hours of winning a cash prize draw. Well, with Prize Paradise it’s not such a far-fetched idea. We ensure our players receive any winnings from our online competitions immediately – or as close as we can manage! It’s one of our customers’ favourite things about us – we pay on the day!

What would you do?

But what would you spend winnings on if you were our next big prize draw winner of say, 20 grand? Everyone thinks they know, but if it came to it, what would you do? Clear debt? Buy a car? Go on a fabulous holiday? Data from various sources since 2021 shows mixed results, but the top ten ways to spend remain the same. Much depends on the situation and life stage of the winner of course, and for some, £20k could be life-changing. For younger people it gives them a much-needed financial boost, while for others simply peace of mind.

The ten most popular ways to spend cash prize draw winnings in the UK

Here’s a list of the top ten ways people in the UK tend to spend their winnings, in no particular order:

1. Coming in strong is home improvements. Home-owners needing a new roof, or whose bathroom had seen better days, took advantage of tax free cash to improve their abodes. Not only can this solve an issue with a property, it can also enhance and even add value. Think garden rooms or bedroom in the attic.
2. Next on the list, is a new vehicle. A free car is always a bonus but not necessarily new. In fact, most vehicles bought with winnings from UK cash prize draws are used! Surprisingly camper vans are right up there with family cars. It seems us Brits love the idea of trips on the open road – especially in a free vehicle!
3. Unsurprisingly always in the top three, (especially with the current housing market), comes a deposit for a new home. Whether you’re a young person saving or a couple renting, £20,000 towards a deposit is not to be sniffed at. And when it’s tax free cash from an online draw, you can’t go wrong!
4. Paying off dreaded debt comes next. Winning money can bring an amazing sense of peace to those who may have accumulated a bit of debt. Especially if it’s from a low entry competition like Prize Paradise, minimising the risk. Get rid of that credit card or student loan debt and breathe a sigh of relief!
5. Those more money savvy amongst the winners used the cash to make investments; long-term savings or plans that leave the money to grow (of course the risk is the opposite can happen). Research is key and timing is everything. £20k invested well could definitely give a great return over a longer term. Not for the faint-hearted, but investing cash winnings from a prize draw can go a long way towards a wonderful future.
6. No surprise to us here at Paradise HQ, starting a business is on the list. A number of winners have told us they have taken their tax free winnings to put into their own enterprises. It makes us feel great knowing we have helped secure their futures.
7. Of course, very few of us could resist using some free cash to jet off somewhere tropical. Or maybe swan about on an ocean liner, or even take to the snowy mountains! Holidays are always popular. Using winnings to take some downtime – whatever that means to the individual – is always a great choice, never a waste!
8. We all want to help those we hold closest, so cash gifts to friends and family always feel good. Many parents are keen to help kids get on the property ladder, not an easy thing to do in 2025. But it’s not just family members that benefit. With many people citing friends as closer than family, treating pals with winnings scores high.
9. Clearly demonstrating the generosity of the British, charities are often supported by winners of cash draws. Winners see it as a way of giving back to causes close to their hearts.
10. And finally, good old fashioned self-indulgence! And why not? Some of us just can’t resist the urge to treat ourselves. Fancy a designer handbag, or a membership to an exclusive health club or maybe a tattoo session? If it makes you feel good, do it!  Especially if it’s coming from winning an online draw! Splashing the cash on ourselves can be so therapeutic, and guilt-free if it’s only cost pennies!

So, that’s how the average Brit would generally spend their winnings. But is that what you’d do? If you win with us at Prize Paradise, how will you spend it?