Answering this question depends heavily on the lottery game you play, your luck and strategy – but understanding lottery odds is essential to increasing your odds of success. While most focus on top jackpot prizes only, understanding lotteries enables you to select those games with easier win probabilities.
Before beginning to play any lottery, it is essential to carefully consider its format. For instance, Mega Millions lottery offers an astronomically low odds of 1 in 302.5 million of winning; much higher than your chances of dying in a plane crash or witnessing your son achieve success on his football field and enter the NFL.
Consideration must also be given to the number of players participating in each lottery game when selecting which to enter. With more players, comes greater competition, making winning more challenging; but don’t exclude larger lotteries altogether since there may be ways to minimize this effect.
Keep track of which lottery numbers have been out. This will give you an indication of which ones are more likely to be drawn than others, for instance research has shown that those out for nine games or less account for two-thirds of winning lottery numbers; those out for twelve games or less account for three quarters.
Before selecting the lottery game you wish to play, it is wise to research its odds of winning the top jackpot prize. This can give you a clearer idea of which lottery has better odds for success and compare them with others from around the world – although don’t take this as an indicator that winning should be easy as gambling still involves chance and luck!
Lottery winners often find that they lose most of their prize within years of receiving it; approximately 70% of people who receive large cash windfalls end up losing most or all of it. To combat this problem, it is advisable to hire an accountant and financial planner as soon as you win the lottery; they will help protect against spending your winnings frivolously, investing it wisely for future growth while not disclosing publicly your prize amount to avoid being cheated or robbed.
