Is Trying to Win The Lottery Worth It?
Have you ever wondered whether trying to win the lottery is worth it? Well, the answer is yes and no. For these reasons: winning a lottery might solve all your financial problems, but the odds of winning are slim. In fact, you have better chances of having a vending machine fall on you than that of ever winning a lottery.
The odds of winning a lottery are somewhere around 1 in over 40 million, so, unfortunately, many of us are less likely to win.
Although that’s the case, there are still players who were very fortunate to hit the jackpot; now that’s a life-changing incident. But they are very very lucky.
However, trying your luck on the lottery is not really a bad thing. Life is tough as is, so daydreaming and hoping for the extraordinary might not be such a bad thing. As long as you are not breaking the bank pursuing the jackpot.
Lottery Fact
There are 292,201,338 possible Powerball outcome combinations. So, the only time you can be sure you will win is if you bet that number of combinations. If you spend $4 per combination, you will have to spend $1 168 805 352, which is over one billion dollars. In that case, the jackpot has to be really big.
However, even if you have that much money to play the lottery, you will still only get 60% of your winnings (or less). Remember, lottery jackpots have to be shared among the winners.
Alternative Options to the Lottery
If you think the chances of winning the lottery make playing not worth it, you can still go for other options. There are other online lottery games, like bingo, keno and even scratch offs, with better odds.
Although the payout will not amount to that of a lottery, the odds of the games are better than that of winning a lottery. There are also a lot of people already winning reasonable amounts of money with little money spent on these casino lottery games.
Winning a Lottery – Conclusion
Many U.S. adults still play the lottery despite the slim odds of winning. On average, $310 is spent per person annually on lottery tickets. Those who are not committed players have bought a lottery ticket at some point in their lives.
Although there is nothing wrong with playing the lottery, you don’t have to invest a lot of money in the lottery game. Play for fun, and hopefully, you could be one of the very lucky few.
It is also a good thing to play knowing the odds; also, a certain number of people have claimed a large jackpot in the past few years, so who knows? You might just be another one of them.
