Cary Cooper: Lottery win sounds like a dream - but it could become a nightmare

A SCOTTISH couple have just won over £160 million in the EuroMillions lottery. How wonderful is that? This would be a dream come true for any one of us - or would it?

Yes, it is absolutely marvellous to win such a sum, which means no sweat or toil from work, no early rising in the morning or sucking up to the boss, no scrimping and saving, and financial security for life. Unfortunately, though, experience from past winners, has highlighted a number of downsides to this.

One straight away is: what do I do with it, who can I trust to give us sound financial advice? For most winners, they would not have access to such advisers, or even know what questions to ask. So, in a sense, they immediately have a financial worry, although most would say a more positive one.

Second, once the information gets out there in the public arena, there will be loads of begging letters, phone calls, visits from all sorts of needy people or those wanting the winner to invest in this business or that. Of course, this could be prevented, and probably should be, if the winner refused to let his or her name out to the lottery publicity machine that follows such announcements.

Obviously, the lottery company, press and us nosey readers would despair, but, for the sanity and health of the recipient, the less said the better.

Third, there are the relatives. There may be tensions between relatives about what they expect to get out of this pot of gold. If one receives "x" amount but another receives nothing, then family infighting is likely to take place and can be very unpleasant, as the extended family equilibrium can be seriously upset.

And then there is work. Does someone who has just won 161m need to go back to being a bus driver or clerk or manager or nurse? Certainly not for the money, but experience has shown that leaving a job you enjoy and the people you work with, who you value as friends and who provide you with a social network, may not be a good psychological option.

As Noel Coward once said: "Work is much more fun than fun."

And finally, there is the temptation to move to a big house in a different part of town or in a different part of the country. This has substantial downsides because the winner will be moving away from their friends, their social-support group of neighbours and community activities. Yet it happens time and time again that this takes place, and there is regret - or, as Proust wrote, "the only paradise is the paradise lost". On the other hand, if managed well, it can be good for your family, friends and charities.

• Cary Cooper is Professor of Organisational Psychology and Health at Lancaster University.