Dream Away: Winning The Lotto
We sit at our desk, in our car driving to work, or lying in bed at night dreaming of what it would be like. We plan each little detail of how our life would be if only. If only we won the Mega Millions Lotto.
With an estimated $1 billion up for grab, many are on a mad dash to buy their ticket. We plan strategies for picking the numbers. Do we use the birthdays of our loved ones? Do we use our lucky numbers? Are there books we can study to find the perfect formula to win? The odds of finding the answer are just as great as winning the jackpot.
According to the Washington Post, the odds of winning the jackpot are 1 in 302,575,350. To put that into perspective, there are more than 300 million people in the U.S. It would be like choosing the one person from the entire population who you think may be your soulmate in just one guess. Crazy, right?
If it seems like that jackpots are getting larger lately, you are right. In fact, the officials of Mega Millions thought the lower jackpot would cause “jackpot fatigue” so they tweaked the system to allow for larger, less frequent jackpots.
When we see the jackpots rise, those who normally don’t purchase lotto tickets get the fever. Who doesn’t want to be filthy rich? The general belief is that poorer Americans buy lottery tickets more often than wealthier ones. But that’s not quite true.
According to a gallop poll, the most frequent lottery players earn between $36,000 and $89,999.
When lower income players do buy tickets, they spend far more money on lottery tickets than wealthier players.
The Journal of Gambling Studies found that those in the bottom fifth of income spent the most on lottery tickets, and more than twice as much as the richest lottery players – $433 a year vs. $193 a year.
Looking at these statistics, it is no surprise that poorer Americans are the biggest percentage of purchasers. The struggle to keep your head afloat for the lower wage earners is real and any chance to make things easier is enticing. Unfortunately, because the odds are so high, shelling out the money for lotto tickets causes more financial strain.
For those of you who are still adamant about playing, there are some numbers that seem to show up more frequently than others. The top ten numbers are: 2, 17, 31, 39, 4, 29, 46, 20, 5, and 35. Each has been drawn an average of more than 2,000 times each since 2006.
So, whether you are a faithful player or just buy a couple of tickets when the jackpots skyrocket, good luck and dream away!