Paying off the mortgage or buying a house are the first things Aussies would do if they won the lottery

Australians have revealed just how big a lottery win they would need to quit their jobs or retire early.

It may be a sign of inflation or that Aussies love their jobs but one third of us say it would take at least $5 million to make them quit work, a survey found.

Only one in five said a $1 million windfall would be enough to tell their boss where to go while a further 16 per cent said they would need a win a whopping $50 million or more to quit or retire early.

The online survey of 300 Australians who buy lottery tickets by The Lottery Office also found that paying off the mortgage would be the most popular use for their winnings.

The findings come as the European Millions jackpot has hit a tax-free $A343 million. Tickets in Wednesday’s draw of the European Millions are available through The Lottery Office until midnight Tuesday, AEST.

The European Millions jackpot has hit a tax-free AU$343 million. Picture: Supplied

The European Millions is linked to the EuroMillions lottery.

When a player buys a ticket in the European Millions, The Lottery Office buy a matching ticket with the exact same number in the EuroMillions.

The European prize pool follows a string of major international jackpots including the USA Mega Lotto which has already exceeded $1 billion this year.

One of the winners of the $US1.3 billion lottery jackpot in April was an immigrant from Laos who has had cancer for eight years and said he would use the money to support his family and pay for his medical treatment.

The biggest prize that has gone up for grabs in an Australian lottery was the $200 Powerball jackpot in January which was shared between two winners.

A third of Aussies say they would need to win at least $5 million to quit their job or retire. Picture: Supplied

While the survey found that paying off the mortgage was the first thing they would do if they won $1 million, almost a third said they would buy a house and 15 per cent said they would go on a holiday.

The Lottery Office chief executive Jaclyn Wood said the company is wholly Australian-owned and operated.

“We are passionate about enabling Australians to benefit from international lotteries, as those draws are often significantly larger on average than what you will find in a traditional Australian lottery,’’ Ms Wood said.