How To Win The Lottery

Everyone dreams of becoming rich. If you’re humming the lyrics of “Billionaire” by Bruno Mars to yourself, you’ve probably thought about becoming rich. What if you could get rich quickly – with a good lottery strategy?

Get inspired by Stefan Mandel, who won the lottery 14 times by using a self-developed formula-based process. Then there’s also Richard Lusting, who won the lottery seven times. He was buried in debt a few years ago, just like the rest of us. But with some smart strategies and a little bit of luck, he managed to win more than $1 million, all by following some simple mathematical rules.

Ric Wallace is another repetitive lottery winner – which goes to show that if you play right, the chances of winning are high. Mega Millions though reported the odds of winning the lottery 1 in 302.5 million. So, unless you choose the right strategies and the right lottery, you won’t make a home run.

One of the best strategies is to choose numbers that have a higher probability of winning. Think about this:

  • If you buy more, you have a higher probability of winning the lottery.
  • Being part of a lottery syndicate or a group that plays together gives you even chances of winning.
  • Playing strategically over time gives you a higher likelihood of winning.
  • Varying your games and choosing ones that have better odds might be what you need to look for.

Top Strategies

The Top Strategies to Win the Lottery

Want to become rich? Here’s a list of tips to help you win the lottery.

Selecting the right lottery games

Most national lotteries have lower chances of winning – simply because there are too many players trying out their luck. To know the odds, find out how many entries go into each lottery. For instance, state lotteries often have better chances of winning. Scratch-card games also have higher chances of winning – but it’s not for you if you are not satisfied with smaller rewards.

Opting for Second chance draws

Don’t throw away your tickets if they fail to win in the first drawings. Some States have lotteries that offer you a second chance. With that, you may have won other prizes – some of which can be pretty exciting too.

Buying online lottery tickets

Losing tickets is the easiest way to lose a lottery prize. Even if your ticket wins, there’s no way to get the money without showing the ticket. It’s better to purchase lottery tickets online – you get sent notifications and can claim your jackpot easily. It’s easy to buy lottery tickets today, even from countries around the globe – right from the comfort of your home.

Number Strategy

Following the Number Strategy to Select Lottery Tickets

Don’t play lottery combinations with your anniversary or birthdays

Birthdays or anniversary dates cover numbers only between 1 to 31. These are considered lucky by lottery players. But if you think they work, think again! You only limit your options and end up losing – if the winning number is beyond 31.

Plenty of people choose such numbers. Even if you win, you will end up sharing your prize with many players.

Avoid combinations with the same last digit

Lottery tickets with the same last digits, like 6, 16, 26, 36, or 46 do not have a high chance of selection. You will rarely win. Even if your ticket hits the jackpot, there are high chances of sharing the money with many players. And you probably don’t want that!

Stay away from multiples

Lottery players choose number multiples such as 2, 4, 6, 8, 10, or 16, where these combinations never hit the jackpot. Players end up splitting the prize if they win.

Play a mix of odd and even numbers

Choosing all odd or even numbers isn’t a great idea for lottery success. You can select a combination of odd and even numbers by studying the best ratios of odd and even numbers.

Select combination of rarer numbers

It is impossible to predict which lottery numbers will win. Choosing rare numbers may help you crack the code. Certain numbers are too common. You can use various lottery apps to generate unique combinations.

Nobody has won the same lottery with the same number twice

Also, don’t buy lottery tickets with consecutive numbers. Numbers like 1,2,3,4,5, and 6 or any other successive series have slim chances of hitting the jackpot. Most lotteries, for instance, need you to choose around five numbers. Statistics suggest that the total of these numbers fall between 104 and 176. If the lottery you are playing for has more numbers you need to pick from, take a look at the previous winners. You can compare the sum total of the numbers from the last few years to get an average. 

Avoid lottery scams

Always buy lottery tickets from authorized dealers or authentic sources. If you win a lottery, you will be informed via email, letter, or text. One of the main scams that run is, you will be asked to deposit a certain amount before getting your hands on your winnings. You may end up losing your money, let alone receiving your jackpot,

Lottery Scams

How to Safeguard Yourself from a Lottery Scam

Protect your personal information

Lottery scammers ask for personal data. Protect yourself from such scams by declining to provide any personal or financial information. Authentic sources never ask for financial details.

Detect red flags from communication modes

Lottery scammers send emails, texts, or letters claiming your jackpot. But these messages may be generalized that start with “dear winner,” “dear customer,” or “hello. “Lack of your name is the most obvious red flag. It’s easy to fall for these scams, but you need to steer clear of them at all times.

Stay away from foreign lotteries

Many foreign lotteries promise high-dollar prizes. They attract a lot of people from foreign countries. The casinos might woo you to participate, but you need to triple-check on the policies before playing. The Federal law considers playing foreign lotteries as illegal through phone or emails. 

Evaluate the mails, letters, or SMS sent to you

Look for hints of professionalism in the mails, letters, or SMS sent to you. Does it contain typing errors, grammatical errors, or poorly constructed sentences? If yes, it is most probably a scam.

Have you met the person asking for processing money?

There are many online platforms for sending money. Don’t fall into the trap of sending processing fees to anyone or any unknown people claiming to call from a reputed casino.

Abide by the golden rules of the lottery

Fraud lotteries can be detected easily. Authentic systems specify their guidelines clearly.

Be sure to follow the instructions on claiming the jackpot. Remember the guidelines of authentic sources. Never send any money as a processing fee to claim your wins.

Most importantly, you need to play first for hitting the jackpot. So, if you haven’t purchased lottery tickets and still receiving messages for claiming the jackpot, please avoid the trap.

Buy more tickets

The probability of winning increases if you buy more than one ticket. However, you may end up losing money too. The winning cash may not compensate for the money lost in buying tickets. But the chances of winning definitely increases by buying more than a single ticket.

To give you an idea, If you had to decide whether to buy 1 lottery ticket for every draw for the total of 10 draws or whether to buy all 10 tickets for a single draw, you will have 10 times higher chance to win the jackpot if you buy all 10 tickets for the same draw.

SOURCE: Beatlottery

So you may want to set your monthly budget for example and then put all the money on a single draw instead of spreading it over a period of the whole month. This will work even better if you can do for the whole year budget believe me, but make sure you are able to buy hundreds of tickets for a single draw because some lotteries have daily limits on how much can you spend.

Mark Glickman, Harvard Statistics professor, vouches for buying many tickets for each lottery game. The best strategy is to join a Lottery pool.

Joining lottery pools or syndicates to avoid money wastage

You can join lottery pools or syndicates to buy multiple tickets without the need to spend large amounts of money on your tickets. It increases the chances of winning the jackpot, because as we’ve already learned, the more ticket you buy, the higher chance to win you have.

Lottery syndicates bring a group of players together who share all the costs to buy the lottery tickets and in case of a win, they split the money equally. It is important to have a written syndicate agreement in place in case of a big win to avoid any disputes.

You can start your own lottery pool or join one in your office.

[ADD LINKS TO SOME LOTTERY SYNDICATES]

Consistency is the key

It’s not wise to miss out on drawings of the games. You need to attend every day of the lottery games.

When You Win

What to do if you win the lottery?

After receiving the news of your win, safeguard your winning ticket. On failing to prove yourself as the rightful owner, you will end up with no money in your hands.

Keep Copies of your Ticket

Keep a Xerox copy or digital copies of your winning ticket. You can save the digital copies on your cloud storage for easy access and improved safety.

Don’t rush to claim the prize money

You could attract media attention if you won a hefty sum. While that might excite you, that can call for unnecessary attention. Most importantly, waiting for a week prepares you for future money management. Most lottery agencies provide 6 to 12 weeks for claiming the jackpot.

Bragging will Invite Unwanted Attention

A sudden hike in money can make you foolish. You may leave your stressful 9 to 5 job. You can also spread the news like fire. But, it may be unsafe for you. Leaving your job can consume your funds fast. It is wise to chalk a monetary plan guided by professionals. Financial literacy is important. Hitting the jackpot may not gift financial literacy.

You need the assistance of a tax attorney, consulting accountant, or tax consultant. You can opt for a second opinion to have a more detailed view.

You need to decide how you want to receive the money

Depending on the country, some lottery wins are tax-free (for example in Europe) but many are not like in the USA or Canada where you have to pay quite a big chunk of tax from your lottery wins. They normally offer payments in two ways:

  1. Single lump-sum – you will receive the whole winnings minus extra fees in one single payment.
  2. Annual payment or annuity: This plan can be paid over 20 to 30 years but will leave you with more money in the end.

So what is the difference between these 2 and which one is right for you?

Benefits of choosing the Lump Sum:

  • You will get the whole amount in one single payment minus the fees and taxes (if applicable)
  • You can invest your money wisely and make more money over 20 – 30 years than waiting for the annuity payments each year.
  • You don’t want to or can’t wait 20 to 30 years to have all your money paid.

Drawbacks of choosing the Lump Sum:

You will have to pay high taxes and fees which can add up to 40% in some states and countries.

You can possibly spend all your winnings and leaving you bankrupt if you make poor financial choices.

Benefits of annuity payments:

you will keep the most money from the win by paying fewer taxes (this can be about 30% depending on the country) so overall you will receive about 10% more money than taking the lump sum.

You will get guaranteed annual payments providing you enough income to do whatever you want

You will get protection from spending all your money fast by making unwise choices

Drawbacks of choosing the Lump Sum:

  • You won’t get all the money at once
  • You will have to wait a long time to get all the money

You can decide after claiming the prize. But early planning will help you in weighing the pros and cons. Annual payment seems like a better decision. But it involves intricate calculations. It’s always better to seek the guidance of professionals.

Whichever way you decide, make sure you spend your money wisely and won’t blow it all on luxury homes, cars, holidays, and everything else. Did you know that every year about 1% of lottery winners go bankrupt? You definitely wouldn’t want to be one of them.

You most probably need to change your address or phone number. It may sound extreme. But there’s a high chance of you getting bombarded with phone calls from relatives, friends, or colleagues you have lost touch with. Not only that, you might receive emails or calls from tax advisors offering unsolicited advice.

You need to include your family members in your decision. You cannot decide to buy a Yacht or move to Greece without consulting your family first. Their needs are also important. Before making any extravagant choices, consider if your family needs education or medical support.

What Do You Do If You Win Lottery Money?

Winning the lottery makes money management all that more important. Seek the assistance of financial consultants, public consultants, and tax attorneys. They will help you determine your financial choices.

  • Put the money in stocks
  • Invest in properties
  • Keep some money safe in a bank account
  • Should the amount you win be large, you may also want to trade in crypto.
  • You can keep playing if you want the money for entertainment.
  • You can pay debts and invest in your kid’s education.
  • You can also set aside some amount for future health plans.
  • Promote a philanthropic cause, or arrange family funds

The next question is, should you invest the lottery money or use it to buy more tickets? The answer depends on the need to spend the money.

What to do if you don’t win the lottery?

While purchasing lottery tickets, keep in mind that winning lotteries are unpredictable. Don’t get bogged down. There are millions like you who fail to hit the jackpot. Instead, use better strategies and play in lotteries where the odds of you winning are higher.

Final Tips

Final Tips Before You Buy Your Next Lottery Ticket

If you play to win always, you will get disappointed. When gambling, only spend what you can afford to lose. The odd of winning the lottery are low.

While playing the lottery has become more accessible, learning a few strategies will help you get better odds of winning. However, keep in mind no strategy can guarantee you a prize. But if you play it smart, the chances of winning over time are on your side.

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