People believe that the odds of winning a lottery can be very high with certain tweaks here and there. Playing around with the number of tickets, the serial numbers, and the combinations on the lottery tickets can boost the chances of winning the lottery. Well, although there are a very limited number of lottery winners, buying enough number of combinations can increase those odds.
How is much investment in buying more lottery combinations sane? What is the ideal number of combinations one should buy to have a greater chance of winning?
What Sort of Combinations Should be bought?
Big and prestigious lotteries like MegaMillions or Power Ball has a very distinctive way to choose their lottery winners. Rather than doing a random draw, entries are bought in a set of a certain combination of numbers, and the lottery draws announce a winner from that combination.
It all depends on the amount of investment a single buyer is willing to make on buying all the possible combinations of numbers on the ticket, which stonks the individual chances of winning.
- In the Power Ball lottery, the combination needed to win is five white balls and one red ball. There are 69 possible combinations for the white balls and26 for the Power Ball. With each PowerBall ticket costing almost 2 dollars, to buy all the combinations possible, an investment of $584,402,676 would be needed.
- In the Mega Millions jackpot, there are some similar probabilities. So to buy all the combinations there, an individual would require to invest in almost 302,575,350 combinations to secure a win.
Is It Possible to Buy All The Lottery Combinations?
Although the sum of money needed to invest in buying all the possible combinations is big, the returns are promising. The balance between your investment and the return is something that isn’t assured. The investment might surpass the profit from the win a lot of times. A lot of times, even though it is promised that the returns shall bring profits home, a lot of unwanted costs go into the processing fee.
Speculations to Be Made
The net worth has to be calculated with a lot of logic and a little math, to calculate the final gains from the return to conclude if it is worth buying all the possible combinations. An essential cost to consider is the taxes that would have to be paid on the winning amount. In the States’ lotteries, almost 25% of the winnings have to be turned in to the State as taxes. After those calculations, it is the decision about an annuity or a lump sum that has to be made.
Although winning a jackpot can be assured with the help of a big jackpot, big returns on the investments are slim.
There are other possible ways and tricks to ensure a higher chance of winning rather than deploying entire savings or the jackpot on buying multiple combinations of lottery tickets. It is thus advised to treat the lottery as a game rather than a planned and plotted investment.
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