Revealed: What it's really like to be a lotto winner

Winning the lottery is a life-changing occurrence only a handful of people will ever experience.

Receiving one huge lump sum into your bank account can make all your immediate dreams come true in a flash.

But 41 Australians who won big are ‘Set for Life’ in a completely different way after they scooped $20,000 every month for 20 years.

Some Set for Life winners said they have special rituals on the 15th of every month – the day they receive their monthly instalment of $20,000 and gives them that ‘yay moment’ 240 times.

Winning Set for Life offers a select few the ability to budget their winnings. Source: The Lott

One Queensland winner said: “Every month I have a little ‘woohoo’ moment – still can’t really believe it until that money lands in my account every month. It’s awesome.”

Meanwhile a Victorian winner and their husband went from ‘a very low-wage’ to rich overnight.

“I prayed that one day I could go to Hawaii for my 50th, do renovations, get an investment property for our kids, buy a new car, pay off our mortgage, and help my parents and family out,” the winner said.

“And my prayers were answered with winning as we have done all this and more since 2015.”

It is a life-changing shift in mindset that opens up a whole new world of possibility and the unique set-up allows their winners to be careful with their cash, Set for Life spokesperson Ally Ramsamy said.

One Victoria winner was able to take her family to Hawaii to celebrate her 50th birthday. Source: Getty, file.

“Our research has revealed that our Set for Life winners love to travel, both domestically and internationally – with Australia, the UK and America being some of the most popular destinations of choice,” Ms Ramsamy said.

“Aside from travel, paying off the mortgage, buying investment properties and renovating the family home are common ways our Set for Life winners spend their monthly prize money.

“While Set for Life allows our winners to spoil themselves, the majority of our winners take the opportunity to share their prize with family members, friends and a range of charitable organisations.”

Celebrating its third birthday, Set for Life delved deeper into the lives of its winners and discovered just how its lucky select spend their cash.

To win the first prize in Set for Life, players must correctly choose the eight winning numbers drawn from 37.

Additional smaller divisional prizes can be won from second Prize to eighth prize by selecting a combination of the eight winning numbers and two bonus numbers drawn.