Everybody dreams of living a comfortable life.
In any setting, you see thousands of hopefuls lining up outside a lottery booth, right hand inside their pockets and left hands pointing towards an elusive dream of becoming an instant millionaire.
It is said that you are more likely to be hit by lightning than win the lottery. Statistically, the probability of winning the lottery is almost zero. However, despite the odds stacked against them, more and more people all over the world are still lured betting in the lotteries. But who wouldn’t budge and be tempted? Imagine taking home a staggering $625 million jackpot then retiring to tropical Remote Island and never have to worry about money again. Indeed, lotteries forward the idea that life is a bed of roses. One luck is all it takes to have a life-changing victory.
This article presents two school of thoughts in lieu of increasing your odds of winning. One sees the lottery as a game of chance whilst the other sees the lottery as a skill-based game. Likewise, this article also covers basic tips and advice on how to increase your odds of snagging the jackpot prize.
Let’s face it. The lottery is an immensely luck-based game. There is no pattern, skills required nor algorithm that will help you improve your odds. All you need to do is pick a lucky number and wait for a miracle to happen. Understand that lotteries are games for which you have no absolute control of the outcome. Your mathematical skills and experience are utterly useless. Simply put, you are left under the mercy of luck.
There are a plethora of tips you see on the Internet discussing about hacking and beating the system, but statisticians and math experts contend that most of these articles are downright ridiculous. They believe that lotteries work through random drawings and that there is no sure-fire way to bag the jackpot.
Experts maintained that the best way to win the lottery is through random selection. It is also recommended that you use an online random number generator (RNG). This is used in games like slots and video pokers in order to generate unbiased result.
Gamblers have their own standard pick. Contrary to “lucky pick,” your standard pick are numbers that you have constantly used over and over again. This could be your birthday or the date where you ended a toxic relationship, or any date that you consider significant and have special meanings in your existential life.
At any rate, whether you choose numbers arbitrarily or stick to your standard pick (against all odds), both have equal chances of bagging the jackpot. As I said, and will say it again, the lottery is a highly luck-based game.
In a raffle draw, the more entries you send, the more chances you have of winning. This logic could be applied to the lottery. The only way to increase your chances of snagging the jackpot is by buying more tickets.
On the flip side, experts also recognize the fact that buying more tickets can be costly in the long run. When you are betting a huge lump sum of money every week, you lose enormously every week. The key is to be a net winner which means that the amount you spend in wagering should not exceed the amount of your earnings.
Whilst it is true that the more tickets you buy increases your odds of winning, but if you go overboard – then you’d end up getting broke. This principle should be used with caution. Just like any games, only gamble what you can afford to lose.
Have you ever bet in horse racing? I did and I am proud to say that I won the first time I wagered. How did I win? Simple, I bet on the horse that frequently won. Technically speaking, this strategy is called “handicapping”. You have to study the past events in hopes of predicting the future. This strategy works under the premise that past events can predict future events.
However, this is the complete opposite of the gambler’s fallacy. This idea forwards the belief that when a number shows up frequently during a given period, it will show up less frequently in the future. This is why this is considered a fallacy because some games, like the lottery, work through random drawings which means that each drawing has no relationship with subsequent drawings because each number (1-40) has equal chances of getting picked.
The lottery starts with number selection. Players all over the world have divided opinions when it comes to picking winnable numbers. Some say that numbers are drawn randomly and each number has an equal chance of being picked. Whilst others say that randomly drawn numbers create a pattern. That said, the lottery can be viewed as a skill-based game where knowing the ins and outs of statistical probability could be of immense use.
You can employ “handicapping” which was amply discussed above or you could also devise a number selection strategy. There is software available on the internet that analyses a vast amount of data (200 different lotto games over the past years). Softwares of this nature populate frequently drawn numbers. This strategy highlights the basic concept in probability: that which most possible happens most often.
You can also calculate the total number of possible combinations. Since you have to pick six numbers from 1-40, that would mean that are 3,838,380 combinations. However, you have to bet all of those combinations so you could win.
If you want an easy win, choose a lottery game with the lowest odds which means that the game has the smallest number field. That way you only have to select or mark a few numbers, examples of this are pick-5 games.
However, if you want to win big-time, choose a lottery game with the highest odds, requiring you to choose from a bigger range of numbers. Remember that a dollar wager can win a staggering amount of money. It is always a good rule of thumb to find a lottery game where the jackpot is three times or more than the number of possible combinations.
Depending upon your preference, you may opt for big wins (highest odds) or small wins (lowest odds) – the choice is yours to make.
Whether you see the lottery as a game of chance or a skill-based game, it will never change the fact that the lottery is a form of entertainment. Just like all other games, you have to gamble responsibly.