You have the choice of instantly receiving £50,000 or flipping a coin for a 50/50 chance of £1m.

Which would you choose?

The vast majority decide on taking the £50k, according to a survey of thousands of people by YouGov. Women voted 82% in favour of the guaranteed cash.

The poll has sparked a debate about why Brits appear more risk-averse than people in the US.

So why are the results so clear-cut, and what are the financial and psychological factors at play?

Sadly, there is little chance of ever having such a choice, but there are some interesting lessons for how we manage our money nonetheless.

Do you agree with the majority?

Nearly three-quarters (73%) of the 4,600 adults asked in the survey said they would take the £50,000 now.