Category Archives: Lotteries & Casinos

Lottery and lotto odds, what is your chance of winning a jackpot?

It is about time that someone is openly honest about your chances of winning the lottery.  Before I begin, the first thing I want to say is that irregardless of your chances, you should buy a lottery ticket. It doesn’t mean your chances of winning are good, infact it is the complete opposite. You have a greater chance of getting hit by a firetruck on its way to a fire call than you do winning the lottery.

However, if it only costs you $2 to play a lottery ticket, for a chance at 10 million dollars, then go ahead, and feel good about it.

If you win, it’s going to be life changing. If you don’t win, then what is happening is mathematical probability is rearing it’s ugly head and making itself known to you.

For most of the lotto tickets out there, irregardless of how many numbers you are suppose to pick, to win $10 million dollars, are all based on the same concept. Let me explain it to you in layman’s terms. If you had a sack full of 25 pound of rice, and pulled out a single rice kernel and colored it black, with a felt marker… that could be akin to the winning number. Now take that same black rice kernel and bury it back down the center of the sack of rice. Now you are set for a lottery draw!

That’s right – 25 pounds of rice, a single kernel colored black is the odds we all play with when we spend $2 to win $10 million.

Now invite your friends, neighbours, family, and anyone walking buy to dig deep in that 25 pound rice sack and see if they can pull out that black colored rice kernel. Bet you that no one can do it. Why? Simply the odds are against them.

Now, take 24 million people all reaching in, pulling out a single piece of rice to see if they get the black one.

Imagine what 24 million people outside your front door of your house would look like..

Anyway, as the story goes, one of these 24 million people manages to pull out the single black colored piece of rice out of your 25 pound sack. They are the winner!  Hard to believe, but it happened.

The moral of the story is simply this:

a) Definitely do play the lottery or lotto. A single $2 or $5 ticket in exchange for a $10 million dollar winner is completely worth it.

b) Definately do NOT expect to win. The odds are against you. Have a greater chance of being run over by a fire truck on its way to a house engulfed in flames.

c) Instead of buying 1 ticket (which seems reasonable) and instead buying 10 tickets is stupid. You’re much better off buying 1 ticket instead of 10 – to put that into perspective, let me explain further..

Let’s say on a certain lottery or lotto your odds of winning is 1 in 394,000 to get a decent, significant price.

You buy 1 ticket for $5. That is easily calculated to mean that your odds of winning is 1 in 394,000

Now let’s say you REALLY want to win, and instead of buying 1 ticket for $5, you buy 10 tickets for $50, let’s re-check the odds:

1 ticket has a chance of 1 in 394,00 of winning.

50 tickets have a chance of 1 in 344,000 of winning.

The difference here isn’t very tantalizing.  In one case, you spent $5 with a 1 ticket chance at 394,000 combinations to win $10 million. That seems like a realistic gamble that almost anyone would try.

Now for the aggressive person.. you spent $50, and now you have 10 ticket chances against 344,000 combinations to win $10 million.  That ticket purchase means you are going against 1 tin 344,000 chance you will NOT WIN. How smart was that? The guy that spent $2 for a win is a better bargain than the guy that spends $50 for similar odds.

PLAY THE LOTTERY. SPEND LOW. DON’T GO NUTS. DEFINATELY DO NOT SPEND MORE THAN $10

If the odds are huge, unless you are going to buy “tens of thousands” of tickets, do not waste your time and money trying to lower the lottery / lotto odds. The game will beat you every single time.

So now that you are near the end of this article, remember:

a) 25 lb sack of rice, how many individual kernels are inside

b) 1 kernel is purposely colored black is the golden jackpot

c) 24 million people outside your front door, just dying to shove their fingers into your 25 lb sack of rice in hopes they pull out the black colored kernel

Now you have a full picture of what lotteries and the lotto draws are actually like..

Sure, of course, 1 in a few million people may win, but believe how rare the odds are.. If you are going to buy a draw or lotto / lottery ticket, spend the minimum amount.  Going broke over the ordeal simply is not worth it.

I hope I’ve explained things, if not, please ask questions below….

 

 

Reader’s Digest Contest: Winning huge money?

Over the last year or so, I have faithfully participated in two different Reader’s Digest sweepstakes contests.  There is promise of cars, sums of cash, and more.  Now I know Reader’s Digest is a legitimate organization, but they do seem to use their literary skills in a technical way to sell you products unknowingly.

We all realize that the printed magazine industry is hurting with the internet these days.  Naturally Reader’s Digest is constantly on the hunt to obtain more magazine subscriptions. By offering a sweepstakes or free giveaway, it really helps their marketing efforts.  The problem I have, is that the way the sweepstakes is conducted can be misleading to many people.  I’ll create an example below which will explain further.

DISCLAIMER: Not actual statements by Reader’s Digest. I created these examples to express my point.

Affix this gold seal to have a chance at Winning $40,000 and also receive our free-gift**”      

Then buried ten paragraphs down, it could say something like this:

**Not only will we send you our special free gift, but we will also send exciting new books to you each month. There’s no obligation, simply return the unwanted purchases. In the event you do not return them, we’ll assume you want them, and you’ll be automatically charged on your credit card”

But you get the point. Read their fine print. Actually, it’s not really “fine print” either. There is just pages and pages of print.  It gets confusing and information overload takes over. Soon, you find yourself peeling off the gold seal sticker, and affixing it and mailing it back without fully understanding what you are committing yourself to…

I also find the YES and NO envelopes they send quite amusing.  If you want the extra chance at the larger prize (and a magazine subscription), mail back the YES envelope. Otherwise, mail your contest entry in the NO envelope.  Hmmm… I wonder which envelopes will get opened back at headquarters?

I do appreciate the opportunity to participate in the Reader’s Digest Sweepstakes.  What I don’t appreciate is my grandmother might get confused by the overwhelming fine details and information overload.  My grandmother might innocently get caught up receiving tons of unwanted purchases by mail without realizing she “opted in”

Have you, yourself participated in one of these Reader’s Digest sweepstakes free contests before?

Scratch Lottery Tickets: Winning Prize Strategy

Scratch ‘n Win, also known as Scratch Off lottery tickets are available everywhere and they are a lot of fun.BUT!The majorityof prizes just give your money back, a $2.00 profit, or maybe only a free ticket.Cheap prizes exist so that players can get excited and say “Hey! I won $2.00!”  (As if that is something significant.)

They advertise “Chance of winning 1 in 3!”  It is helpful to understand that petty prizes are paid frequently in the game just to make the odds of winning look better.

 

If I scratch a $5 ticket and see “congratulations $5 winner” — How is that really winning anything?

In my opinion they should discontinue these types of petty prizes. How many people will buy a scratch ticket for the purpose of winning their money back?  It doesn’t make sense. We’re all out there to at least double our money.  I wouldn’t mind getting scratching more losing tickets if that meant that I’d have better chances of getting bigger prize over the long term.

For instance, say I buy 25 tickets over the course of a three month period.

Instead of getting 8 winning tickets giving me my money back, I’d prefer to get one winning ticket with 8X the money!

Scratch lottery tickets that would do that wouldn’t sell as well though, and the lottery organizations know that. .  If you won one big prize out of every 25 tickets, you’d probably be less likely to buy 25 more tickets over the following three month period.  They know that if you experienced a loss 20 consecutive times, you’d stop buying tickets;  it is that simple.

Obviously, the current system is by design. They want you to get the illusion that by winning more often, that the big one is just around the corner.

Moral of the story? When you’re feeling lucky, play the ball drawn lotteries, like the Pick 6, or Lotto 6/49, etc. These lotteries will net you a few million dollars if you win big. Unlike the scratch off tickets where the largest prize is only $25,000, sometimes less.   You get better value for your money by buying one of those ball drawn lotteries instead.

What do you think?

Option 1) Would you rather win less often, but get bigger prizes?

OR

Option 2) Would you rather win more often, but get much smaller prizes?

Keno numbers. How to find the pattern.

If any of you are avid keno players, you may stare at the result screen and see patterns emerging. The number 56 may come up 3 draws in a row. Sounds like a good bet to play 56 over the next 5 draws, because the chance of the number coming up again is high.

WRONG.

Casinos, lottery corporations, and the like, have spent expensive money from people like www.gtech.com to ensure that their number picking server is choosing unbiased and unpredictable numbers through true RNG (Random Number Generation).

Yes, patterns will materialize with KENO. But guess what? They are random patterns. To the human eye and brain, we’ll associate random patterns with logical patterns. We’ll figure that the computer must be locked into some mode that is generating patterns and if we could only figure out the pattern and the frequency, we’ll dominate Keno.

Not true. Well, actually a correction. It was TRUE in the earlier days of Keno. You can read news articles from many years back, where random number generation was based on the time cycles of the computer when it was switched on, and every time the computer was switched off and turned back on again, the same random number sequences would produce predictive random numbers.

But that was identified, and corrected, and is no longer present in today’s society.

Similarly, cooked potato chips may have a burned or bruised marking on them. If you sift through 5,000 bags of chips and examine each one, you may eventually find one that has the marking of the Virgin Mary, Jesus, or even a NIKE symbol.

Does this mean that you’ve found something sacred? No, it just means that if you look at randomness often enough, eventually random patterns will emerge, and as humans we can identify them. But all you are really doing is identifying something totally random that happened to produce a pattern.

So when you are losing your shirt over the long term playing KENO, keep in mind you are competing with a random machine. Randomly, you WILL win. However, randomly you WILL lose too. Keno is suppose to be an entertaining game, for FUN, with the chance of winning a random prize.

If you feel that if you play the game enough, and try to beat the system — well the long term odds will get you to lose money, and the keno operators will eventually profit from your failed investments.

I still play KENO, but with a very different attitude now. I’ll throw a couple bucks at the system, but no longer will I try and capture patterns. I’ve analyzed it enough and done research. I think its funny when I sit in a public gambling establishment and hear people freak out and exclaim “wow! Look! See!! 56 came up again! Make sure you put that number on the ticket.”

In true random number theory, 56 can come up 30 times in a row. But then again, it can stop coming up for the next 30 times. There is no rhyme, reason, or pattern to why KENO numbers come up.

Sorry if I’ve burst your bubble where you had hoped to one day dominate Keno patterns with finding out the secrets. It isn’t possible. But don’t you feel better being well informed?

Actually to be fair, there are some things that you can do to maximize the money you wager to get the best value for your bet.

IMPORTANT NOTE:
I recommend that you maximize the risk/reward ratio if you want to continue playing Keno.

Take a look, just Click Here!

Maximizing your risk vs reward is the best way to play properly.