Have you ever wondered what your chances are of winning the lottery? You may realize that for the most part, they aren’t very good. However, some lottery games have better odds than others.
There are a few things you have to take into consideration when contemplating your odds of winning. One of them is where you play it, and another is the type you play. This includes two types; 50/50 and fixed amount. With 50/50 lotteries, the prize money goes up for every week that no one is declared a winner. This is because half of the revenue a lottery game earns in any given week goes towards making the cash prize larger. In a fixed amount lottery, the cash prize always remains the same.
Other factors that determine your odds of winning the lottery include the amount of tickets you purchase and how many numbers need to be guessed correctly in order to win. The more numbers you have to choose from the lower your odds of winning actually are.
Ideally you want to purchase more tickets the more determined you are to win. Each ticket should have a different combination of numbers. This automatically increases the odds of winning the lottery.
Some state lotteries are easier to win than others. But in general, the odds for winning these lotteries are one in 18,000,000. The odds get even worse for you if you are playing a lottery game available in multiple states. Then your odds of winning are actually one in 120,000,000.
Many lotteries choose six winning numbers for every draw. With 49 numbers to choose from, guessing what the six winning numbers will be is tricky. Your odds of doing just that are one in 13,983,816, or roughly one in 14 million.
Winning a jackpot isn’t easy for most people to do. Your general odds of winning are only one in just under two million. Smaller cash prizes, for example $10,000 or the equivalent, give you a one in 723,144,64 chance.
When playing a game such as the Powerball lottery, for your odds of winning to be good, you would have to purchase 39 tickets. There are 39 possible numbers to choose from in this game. Each of the 39 tickets would have to have one of the winning numbers. However, the amount of money you would win is not something most people consider worth taking a gamble on.
Statistically, you have a better chance of getting into a car accident on the way to buy your Powerball lottery ticket than of winning the game. And that is for people who live within one mile of where they can purchase one.
With such poor odds most of the time, the lottery is strictly a form of entertainment as opposed to a money making venture. You will almost always lose more than you will win, if you win at all.
For more information, Lottoland lists the odds of winning the lottery.