So, you want to win the lottery, right? You want to win as much money as possible. Sure, everybody does. Money makes us emotional. But sometimes you need to think with your brain and not your emotions. And, that goes for choosing the correct lottery game to play. It’s better to win a little of something then nothing at all. What does all this mean? It means that perhaps you should consider playing scratch off lottery tickets. Sure, they offer a lower payout, but they also generally offer better odds.
Consider this – one of the most popular lottery games in the world is Powerball. Powerball costs $1 to play and the odds of winning the jackpot are approximately 1-in-195-million.
Now, consider the average $5 scratch off lottery ticket, for example. Generally, the prizes for a $5 ticket will range from $100,000 to $1 million, and the higher the prize the higher the odds. Now, let’s say that you are looking at purchasing a $5 ticket and the prize is $1 million. The odds of winning $1 million on a $5 scratch ticket will vary from game-to-game and from state-to-state. With that in mind, you’ll be looking at odds that are about 1-in-3-million.
For comparative purposes, if you buy five Powerball tickets, at $1 each, your odds of winning the jackpot would be approximately 1-in-39-million.
Now, comparing the scratch off ticket in the example to the five Powerball tickets, you would be about thirteen times more likely to win on the scratch off lotto ticket than on the Powerball ticket, dollar-for-dollar. That’s a huge difference.
We all know that Powerball, and even lotteries like Mega Millions, EuroMillions, and Lotto Max, offers huge payouts. Everyone agrees that it would be amazing to win these huge jackpots. The only problem is that these lotteries are virtually impossible to win.
Scratch off lottery games have lower payouts, but they are winnable. That’s what makes them attractive to play. But, let there be no doubt, even winning a million dollars would change your life. At the very least you could pay off your mortgage, pay off your car, have money left over, and live debt-free. Doesn’t that sound appealing?
In the end, it’s your choice on what lottery game you play. But if it were up to me, I would always choose the lower payout but better odds that the instant scratch lottery games offer. But, hey, that’s just me.