You would have to have luck on your side if you are playing the lottery or thinking of playing one, the only guarantee you have of winning is by taking part in it. But let’s talk about the odds of you winning a lottery and how you can better them.
Getting struck by lightning or falling plane parts, becoming the next US president, or becoming the next Warren Buffet are some other things that are more likely to happen than winning the lottery.
If you were to enter a standard 6/49 drawing, your chances of winning would be 0.0000000000005113857220%.
Let’s inspire you with this quote, “Optimism is essential to achievement” – Nicholas M. Butler.
Lotteries have an independent probability
The fact that you won a lottery before doesn’t make your chances of winning it again any better since the odds of winning a lottery are the same as they were in your first win. You can put the odds in your favor however if you buy more tickets, for example, your odds of winning are 1 in one million, you buy 9 more tickets, and your odds are better to 10 in one million.
Quick Picks or Choosing your own numbers?
It’s never been easy to decide whether to take a quick pick or to choose your lottery numbers. While each approach has its advantages, a quick pick seems logical at times. Picking your number to outguess the computer, you may be lowering your odds. The advantage of the quick pick is that the numbers are generated randomly, just like with the live draws.
If you follow the lottery industry, you must know who Richard Lustig is. The Florida man won the jackpot multiple times! Before he passed he wrote books and created a software “Lottery Maximizer” to help give his fellow players a better chance. The odds of winning it are worth taking if he’s won it 7 times.
One other person to win 14 jackpots was Stefan Mandel from Australia, who did so without breaking any laws. By using his affinity for numbers, the economist devised a near-perfect formula. As a result, he would have the first five numbers as well as the option to go to the sixth.
After his twelfth win, the authorities came knocking and found a way to block him by deeming his strategy ‘not in the spirit of the game’. His algorithm can be found on the internet but requires large investments. It is a relatively simple algorithm that can be found online. Luck is good but improving your chances is better.