Have you ever dreamt of becoming a millionaire through winning by just spending a couple of dollars? That is the lure of playing the lottery. The chances of winning the lottery are determined purely by luck and a little bit of skill.
A lottery is a gambling game that is used to raise money. As a player, you purchase a game ticket for a chance to hit a jackpot prize and walk away with a large sum of money. However, the lotto game can expose you to losing money if luck is not on your side.
So with an estimation of around 45 million to one, how do you maximize your odds of emerging triumphant in the lotto? Read on to find out!
What Are the Real Odds of Winning?
As it turns out, the odds of you winning the bingo are not so good. If it were, then we would all be millionaires! However, understanding the involved odds would give you a more realistic expectation of the possible outcomes.
Having knowledge of the odds involved in a game of sweepstake and its prices is crucial in choosing the best lotto to bet on.
According to the Ontario Lottery and Gaming Commission, the odds of winning the lotto are readily available, although very few players take time to go through them.
The exact odds depend upon different factors; let us take a look at a few examples.
- The odds of winning Lotto 6/49 are 1 in 13.9 million (per $3 play)
- The odds of winning 2.5% of the Lotto Max Pools Fund are 1 in 4.7 million (per $5 play)
- The odds of winning the Lotto Max jackpot are around 1 in 33.3 million (per $5 play)
In a broader perspective, in a lottery with a possible pool of 49 numbers from which you pick six numbers, the chances of you winning the jackpot are 1 in 13,983,816.
To put it in a clear perspective, say you were to buy one ticket every week, then you can only expect to hit the jackpot once every 269,000 years.
Despite the slim odds of winning the lotto, many people still spend lots of money on buying tickets due to the entertainment factor that comes with the game and the lure of getting rich quickly.
Steps on How to Win Lottery
Each lottery draw is entirely random therefore making it difficult to predict the winning numbers.
However, your odds of hitting the jackpot are higher in a major lottery. So what are the steps you can take to increase your chances of winning the lottery?
Here are six simple steps on how to win the lottery guaranteed:
Picking the Right Lottery Game
Consider taking part in games that come with better odds that can boost your chances of winning the lottery. In a national lottery draw, the number of pools offered is broader than a state or local lotto.
Despite the need to be physically present during a local lottery game, the odds of you winning are higher than the nationwide lottery.
Avoid going for games that already have a winner but instead buy other unpopular tickets. Games that have already been won will likely attract more players, which means you will have a lesser chance of winning.
Less popular games with lesser players give you higher odds of winning, albeit with a small jackpot price.
Wait for the Jackpot to Stack Out
The odds to win the lottery remain the same with every draw done in each respective game. However, the value of the jackpots increases when there is no winner from one week to another.
Research the lottery to find out the starting amount of the jackpot and the level at which it is mostly won. This will give you a picture of where you currently stand with the jackpot.
Where a jackpot has been won recently, it is advisable to wait for a few weeks before buying a ticket. This lottery strategy will see you increase your potential to win more from an increased jackpot prize.
Try Second Chance Lotteries
Do not toss your lottery ticket even when your numbers are not picked during a draw. Today, many lotteries conduct second-chance drawings. These are done on non-winning tickets.
All you have to do is fill out your form on the back and send it in to get a bonus chance to still win the jackpot.
In June 2010, the Balance everyday reader reported a big win by a lady who entered the second-chance game after initially losing on the numbers she played after buying her lottery ticket.
Her winnings hit $120,610.70 after taxes. Therefore, do not give up your ticket yet just because you did not win the first time.
As long as your lottery game provides a second-chance drawing, you can still win a prize.
Pick up The Numbers
Consider picking random numbers to increase the value of your win, should your lottery ticket come good. This, however, does not increase the chances of you winning.
Picking numbers that follow a common sequence such as 1, 2, 3, 4, 5, 6 have a higher probability of being picked by many other players. Therefore, try and breakdown such a sequence with random numbers.
The downside to this is that should the sequence end up being the jackpot-winning selection, the prize pool will be shared amongst all these players, thus reducing the value of your winning.
Learn to select a set of numbers that no one or, if so, very few other players will possibly pick.
Buy Multiple Lottery Tickets
It is important to buy multiple tickets to increase your chances of winning in your favorite draw.
To help you achieve this, some lotto companies have created a subscription feature. You simply select the number of times and weeks you would want to play your favorite lottery, and the system automatically renews your bet.
This will ensure that you do not forget and miss out on placing a bet on your chosen lottery. The more tickets you buy, the higher your chances of winning the lottery online.
Don’t Forget Your Lottery Ticket
One of the first things you should do to protect yourself once you receive your lottery ticket is to sign it. A ticket that you have signed at the back is a guaranteed defense of claiming ownership in case you lose it or it is stolen.
Always use a computer terminal to confirm if your ticket has won. Avoid handing the ticket to the lottery station clerk for verification; instead, check online for the winning numbers and verify them yourself.
Make copies of your winning ticket and have a backup soft copy as well before cashing a lottery ticket by mail. This will protect your claim in case the ticket gets lost in transit.
Biggest Ever Canada Lottery Wins
Over the years, Canada’s lotto Industry has produced plenty of millionaires. The lotteries were legally introduced in 1969 with the initial aim of raising funds for large-scale projects at both provincial and federal levels.
In 1974 the Canadian national lotto was formed to fundraise for the then-upcoming 1976 Montreal Olympics. The lotto was very successful, with tickets selling at $10 for a chance at a $1m prize draw.
Fast forward, and two big national lottos have since emerged in Canada. The Lotto Max and Lotto 6/49. Several millionaires have since been created, and millions of dollars raised for good causes.
Before taking a look at some of the biggest winners of the game in Canada, it is worth noting that there is a cap on the Lotto Max jackpot. It is currently at $70m, having been raised from $60m in May 2019 for a single ticket.
The capping has brought fairness across each draw, avoiding a pool being too heavy on one winning ticket and instead ensuring the proceeds are shared evenly.
It may come as a surprise to many that one of the biggest lotteries won in Canada to date is yet to be claimed. This is a massive $70 million jackpot ticket from Lotto Max that one person won on the 7th of January 2020.
Shu Ping Li from Montreal also won the maximum jackpot. What is more impressive is the fact that she did so with her first-ever lottery ticket.
Another lucky winner of the jackpot prize was a 22 year old. The grocery store worker split his winnings with his family of eight.
In June 2021, the Lotto Max draw paid out a staggering $117m to winners across the country, the biggest in Canadian lotto history to date. This means apart from the jackpot amount of $70m, $47m was shared amongst lucky winners, and a lot of money was raised for good causes.
Knowing how the lottery works using lotto learn is an excellent first step towards increasing your chances of winning. Come up with a “picking lotto numbers formula” to help you choose a set of numbers from a range of lottery numbers provided before buying your lotto ticket.
The draw randomly selects numbers from this range. You win the lottery if your numbers match the winning number. If you match a certain number with the jackpot numbers, you win a smaller prize. Tickets with the same winning numbers share the jackpot prize equally.
What to do if you win the lottery?
- Prepare yourself well to deal with the unprecedented publicity and fame that comes with winning before you cash in your ticket. Assemble a professional team of advisors to guide you in making sound financial decisions and save you from losing possibly millions of dollars.
What are the chances of winning the lottery?
- What are the chances of conquering the lottery? This is a question that is in the mind of any player looking to bet on a lottery. The short answer to this question is that the odds of becoming victorious in the lotto for any one person are extremely small. However, sweepstakes sell the hope of you being that one lucky winner.
How to pick lottery numbers?
- The simple answer to this question is that there is no single best way to pick lotto numbers. This is because the winning numbers are randomly picked and therefore no one method is better than the other when it comes to hitting the jackpot.