The discourse on this seems to miss the optimal option for non-rich people. Take the gamble but delay it until you have auctioned a 50/50 chance of £1m to the highest bidder. You keep well over £50k regardless.
YouGovIf you had a choice between instantly receiving £50,000 or a 50% chance to win £1m, which would you pick? £50,000: 73% 50/50 chance of winning £1m: 21% yougov.com/en-gb/daily-...