How to play smart(er)
In short, there are two golden rules, say those who have studied
lottery players: Play only if you can afford it, and play only
for fun.
“If you’re playing because you think you’re gonna get rich, then
don’t play,” says Don Feeney, research director for the
Minnesota State Lottery.
If you can safely afford to drop a sawbuck or two on the
lottery, how should you do it? Experts underscore that you can’t
noticeably improve your odds at winning a lottery. Anyone who
promises that is a charlatan. Still, there are some helpful tips
to consider before you buy:
- Know the odds. Many people are surprised to learn
that the odds in the big lotteries don’t change when the
number of ticket-buyers surges. Your odds of winning huge in
the Powerball are 1 in 120,526,770 no matter how many people
play. Likewise, the Mega Millions odds remain 1 in
135,145,920. The lesson: If you’re going to throw away $5 on
lottery tickets, you might want to wait until the jackpot
climbs to $200 million from $10 million (although either win
would be nice). One downside: A bigger jackpot means
more people playing and a higher probability of having to
share the prize.
A lottery ticket is your best shot at riches
A: False. Sadly, this isn’t the no-brainer that it should be.
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