Maidenhead has the most millionaires per capita than anywhere else in the UK, according to new research.

The Berkshire market town just seven miles away from the Queen's Windsor Castle, comes out top trumps in a new study looking at the highest percentage of millionaires an area's population.

As many as one in 20 people in Maidenhead have a wealth of more than £1m – a higher rate than any other town or city.

It has 7,923 millionaires out of 152,144 people, the study suggests.

Bookies Paddy Power counted up the number of people worth seven figures in various UK towns and cities ahead of its Millionaire Chase competition which will create the first new millionaire of 2021.

The River Thames flows through 'millionaire' Maidenhead

More familiar cities dominate the top ten of millionaires per capita but Maidenhead is not the only surprising feature.

How many millionaires are there in your town?

Cambridge's 5,742 millionaires take the university city of 129,000 to second place.

London is home to a staggering 329,002 people with deep pockets who have at least £1m to their name but they only make up 3.7% of the city's population.

Cheltenham beats Oxford to fourth place thanks to its fewer inhabitants and in sixth, representing the north of England is Harrogate.

Cambridge has the second most millionaires per capita in the UK

3.2% of the Yorkshire spa town can count six zeros on their bank balance which is higher than Bath, despite the Somerset city having 100 more well-heeled locals.

In eighth is Edinburgh, the only city outside of England to make the top ten but its 11,324 millionaires is second only to London.

Reading and Bristol complete the rankings in ninth and tenth respectively.

Spokesman Paddy Power said: “It’s been a year to forget for most of us, so we’ve created a competition to give one lucky person a better start to 2021 by winning a cool £1 million.

Oxford has the fifth most millionaires per capita, according to a new study

“We’ve found that there’s a higher concentration of millionaires in Maidenhead and Cambridge than anywhere else in the UK.

"So, if you’re from one of those places, you might fancy your chances given that one in 20 of your neighbours are already worth seven figures.”

Stretching the study out from eleven to 20 found towns and cities in the Midlands, north and Scotland outnumber the south 9/1.

Newcastle in eleventh is the only remaining town or city to have more than 1% of millionaires per capita.

9,812 millionaires live in Birmingham

Even though Manchester/Trafford has 21,000 more millionaires than Leicester, they are level-pegging with 0.9%.

Poole on the south coast boasts 0.8%, Leeds/ Bradford 0.7% and Glasgow's 7,993 millionaires make it the second Scottish city inside the top 20.

Nottingham/ Derby, Liverpool and Birmingham all have 0.4% of millionaires as residents.

To enter the competition, punters simply need to back the winning horse in one of the weekly Millionaire Chase qualifiers, with the remaining races including: