|Posted: May 8, 2013, 6:36 pm - IP Logged|
Unless you are increasing the payback percentage it is all just smoke and mirrors.
The lottery makes you believe that your odds are going down to 6.6 but they dont tell you that the cash prize
odds are decreasing drastically. They want to churn your free plays over and over again. I sure do not play
the lottery for the free quick pick ticket. I would prefer just putting that prize pool to increase the money won
from hitting 4 or 5 of six. But that will never happen as the lottery know that pyschologically if you win a free
pick you feel better than you did if you lost and that free pick is churned back in. Lets say you are playing a lottery
and you win a buck. You ALWAYS put that buck into play on top of your new purchase.
I give kudos to Canada for not having to pay taxes on the winning but they offer sub 50% payback percentages.
To the previous poster about Illinois. I agree. They add all these crappy bells and whistles that no one plays.
And now their jackpot increases about 150k per turn. Unless a super positive change in payback percentages
happen , which it never will with so many munis hurting for cash then I believe one should only play the lottery
on huge rollover. Say when Pick 5 lottery is above 500k or when your state lottery that has 12 mil to 1 odds is offering
a prize of 24+ million (annuity which equals 12mil cash). Instead of playing every day save your money when
you are giving yourself the best chance of hitting the bigger jackpots.