Likelihood of winning Lotto Jackpot Essay

Published: 2020-04-22 08:25:56
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In numerous civilizations the element of gambling has been around several centuries. Studies suggest that in the last year Americans have spent more than $482 billion in gambling. Most of the casinos in America are working legally and they provide efficient services to their customers. Although some people suggests that gambling pose negative outcomes and its an addiction that is quite dangerous in nature but gambling is fun and if played effectively people can earn a lot from it. Different games are offered in casinos like black jack, poker, lotto etc.

Gambling becomes venom when people are not in their control and their minds are not working properly. A person can be drowned in debt and face negative consequences if he/she doesnt place the bets efficiently. Gambling pose positive effects on the overall economy and through proper arbitration techniques risk can be minimized and can be handled easily. Casinos provides employment to many individuals and real state business experiences a boom where casinos are built. Besides that gamblers and casinos give hefty amounts of charity and the business of hotels experience growth through gambling (Imdad 2005). Lottery

Although there are different forms of gambling but lottery is considered as one of the most famous ones. Its a form of gambling in which is related to the phenomenon of drawing prizes. Lottery experiences a mixed bag situation in which some governments appose it while some believe that its great for recreational point of view. In the late 19th century sweepstakes and lotteries were illegal in most of the countries including Europe and USA. After that the scenario of gambling and especially of lotteries has changes drastically and lotteries were considered as the sign of betterment as it contributes a huge amount in taxes.

Different kinds of lotteries are available in the market, however lotto is considered to be the most famous one. Its basically a special kind of lottery in which players have the choice to choose numbers from a set of 40-50 numbers. Six numbers are drawn in public after that and the player can won a large jackpot if the six drawn numbers matches the numbers that were drawn in public. The jackpot is transferred to next weeks draw if no player matches the six numbers. Millions and even billions of dollars can be won by just three to four rollovers.

These large jackpots have added popularity in lotto and many people are attracted by this attribute. In lotto although there is a low probability of winning but people are mesmerized by large jackpots and are attracted by hefty amounts of winning prizes. Statistical analysis shows that across different states the tickets sales of lotto are positively correlated with the states size of population and both of these are directly proportional to the size of jackpot (Imdad 2005). The psychology of winning a jackpot in lotto is quite difficult to understand.

Experts suggest that wining in lottery is not that easy and they relate lotto by lightening and explain that the probability of getting hit by lightening is more in Florida as compared to winning a jackpot. Same is the case with other states too, In Pennsylvania the amount of jackpot reached a staggering number in 1989 and the winning prize was $100 million. However, the likelihood of winning was just 9. 6 million to 1. Anonymity is also considered as the prominent reasons why people buy lotto tickets.

A survey concluded that 43 % of people would stop buying tickets in the lottery if they have to disclose their names and their social security numbers. However, players have to fulfill the disclosure requirements if they won $600 or more in a state lottery. By disclosing their identity they actually become liable for taxes and other deductions on their winnings (Howard 2003). The core philosophy behind the lotto tickets is the phenomenon of Get rich quickly. People are attracted towards lottery schemes because they can fulfill their dreams of becoming rich and famous in just one day.

Just buying a single ticket and changing the life forever attracts most of the individuals in buying lotto tickets. Economically speaking its a minor expenditure too. Becoming an entrepreneur or working for hours is quite a difficult task, people enjoy the short cut approach as a result of which they buy a ticket and try their luck. Thats the core philosophy of nearly all the individuals that purchase lottery. An in individual that falls in a middle class or lower income bracket tries its lady luck and believes that he/she can be as rich as any by just buying a single ticket.

Every individual that buys a lottery ticket says that every one has to win someday this self believe encourages them to buy the tickets more and more and try their luck. Individuals and even organizations spend a huge amount in buying tickets and some people even designate a certain amount of their incomes in buying lotto tickets. They follow the advertisers who claim that buy more and increase your chances. People buy more and more tickets and believe that their probability of winning is increased by that. Becoming a millionaire- is it easy?

Every one loves to be a millionaire and he/she tries different approaches in fulfilling his/her dream. A person who purchases a lotto ticket would definitely fantasize at night that he/she has won the jackpot. People that are drowned in debts, planning for a safari, built their own house fanaticize a lot and imagine that they have won the jackpot. Managing the lotteries starts with identifying the odds in a game. When a game is picked an individual must know that what the odds of winning are. Picking random numbers is the best approach in moving towards the jackpot.

Individuals should avoid common numbers that many people prefer like 7, 21, 1, 13 etc. Similarly individuals should avoid picking up the numbers that are similar to their birthdays. People should try to increase the probability of winning and they can use statistical software in knowing the exact amount of numbers that are placed in the lottery and whats their probability of winning. Number of odds can be increased and a great way in doing this is by keeping your eye on promotional schemes (Cardoza 2003).

Investing in pools is considered to be another method of increasing the chances of winning. Most offices have a lottery pool in which employees drop their lottery tickets and the chances of winning are increased as the number of participants increase. In this scenario a winning percentage is allotted to the employees and its decided through mutual consent that the jackpot will be divided among the employees. Claiming your money is another important strategy and its estimated that about 12% of the lottery tickets goes unclaimed.

People usually forget their ticket numbers and most of them even loose the tickets and then they find out that they have actually won the lottery but they cant claim it as they dont have their ticket (Cardoza 2003). Most of the people are in a state of despair and they feel that they cant win a lottery in their whole life time but there are people like Evelyn Adams who won the lotto lottery twice in the year 1980. Most of the people only play for jackpots however; there are certain other types of lotto too. Scratchers, pick 3 lotteries, pick 4 lottery, pick 5 and 6 lotteries are certain other outcomes of lotto besides the jackpot.

Lotteries also offer valuable prizes in the form of goods. But normally people are more interested in cash (Howard 2003). People usually believe that winning in lotto is just a case of luck. However, certain mathematical techniques can improve the chances of winning. Its not just sheer luck that can turn rags into riches but its a science and involves prediction with precise calculations. Taking mental notes by watching the game and evaluating the entire game can be beneficial in the long run. This phenomenon is known as the feedback technique and its used by many professional gamblers.

Since all the lottery events are totally random in nature therefore, its near to impossible to guess the exact number and guessing the exact number out of so many numbers is beyond the capabilities of human mind. Since all the numbers have an equal probability therefore all the numbers are equal in nature and the participants cant guess the exact number right. However, a proper trend analysis might help the cause. A statistical technique known as Pyramidon System is an essential way in achieve success through lotto numbers.

This technique provides help in developing practical correlations with games and sports that involve randomize events like horse racing, lotto, stock market forecasting etc. This method is the most advanced technique in developing a winning combination. Other methods and even the method of probability theory failed in producing accurate results. There are certain other tips and tricks of the trade that can be equally essential. Individuals should not pick numbers that were successful in the past. People usually believe that numbers that won in the past are lucky by nature and by selecting the same sequence they can win the jackpot.

Although number patterns look good together but they act as a satin in your artillery. People usually pick numbers in series like 2,4,6,8 etc or 01,11,21,31 etc. This method is not a great approach for achieving favorable results. People should not rely on lottery services and on astrologists that predict numbers. These services would be provided to same clients as well (Howard 2003). There are number of different lotteries available around the globe and from Asia to Africa, From North America to Australia lotto has experienced growth and the numbers of players in lotto are increasing day by day.

UK National Lottery, UK State Lottery, Mega Lottery are some of the names that are considered to be the giants of lottery business and from weekly draws and monthly sweepstakes people are becoming millionaires. Organizations and individuals are planning immensely to win jackpots and to attain a better result. They are even combining their resources to achieve the desired results (Nwokogba 2000). National and state lotteries are preferred by individuals and they want to earn big by this method. However, the risk is greater in this approach because many individuals are opting for the bigger prize.

Lottery Scams-The darker side of lotto Investments in lotteries are increasing but the element of morality and integrity is decreasing. People are scammed every day through wicked promotional campaigns and people are cheated through these schemes. Online scams are in full swing and messages like you have won $1000 are posted every day through hundreds on mails. This issue is associated mostly in international lotteries. Research shows that more than 16% of the total population of young adults in UK receives scammed mails of deceptive lotto (Henderson, 2003).

People are requested to submit a registration fee and they are promised that in return they will receive the cash prize. The prize never exists and the money that was deposited by different people is wasted and the scammers benefit a lot from their dishonest approach. In Canada people lost more than ? 300,000 in the Canadian lottery by calling the lottery owner in order to cover the amount. Similarly a lottery named EL Gordo was found to be a fraud and they scammed more than $100,000 from the Spanish people (Bluskov 2002).

In all the countries were lotto is operated people are facing fraudsters and dealing with this menace of false informers of jackpots and prizes. People should report this crime to the cyber crime division of their country and they must stop this nuisance. These fraudsters usually send an application form or they ask they ask the person to call them. When an individual give them his/he credit cards details or even call them then he/she might face the biggest surprise of his/her life time. These organizations charge bills from your credit card or they can even charge huge amounts of bills from your phone.

The best approach is to avoid them or report their activities to police or to some one thats related with cyber crime division. This is the only way we can get rid of this (James 2008). Its a form of a fake company that offers lottery prize that people have own through email and they want details to ruin you. The dream of becoming successful might be threatening too. Conclusion Thus in a nutshell we can conclude that lottos are definitely a possibility to get rich in one day. Although the ratio is quite low but still ordinary people are changed from rags to riches through lottos

Matching the 6 numbers is the best way to won the race and different strategies were discussed in this paper about that. Permutations and combinations, Statistical analysis, Trend Analysis etc are some of the techniques. People are revamping their strategies and changing their methodologies in attaining the best possible combination in winning the lotto (Schneider 2001). We believe that two strategies are the best among all of them. The first one is to select a random number and that numbers must be selected with a calculated approach i. e.

no series should be selected, no birthdays, no even or odd number in the same series. Simply select plain random numbers and then wait for the lady luck to do miracles for you. Another important strategy is inferred from the concepts of economics and marketing that is buying more can get you more. Buying more and more tickets can result in achieving more results. This strategy can be combined with the organizational pools i. e. combining with your organization in buying huge numbers of tickets and if you won the jackpot then dividing it into equal percentage or dividing it with respect to the deal.

This is a simple strategy yet the most effective one. Increasing the number of odds i. e. enhancing your probability of winning is the best way to play lotto. People who won the lotto in previous years rely heavily in increasing the number of odds (Jones 2006). Although lottos are famous and they provide a short cut in achieving desirable results yet the dangers of lottos are quite disastrous and people should be aware of the short comings of this lottery scheme. Winning and loosing is a part of the game however planning and devising proper strategy can alter results and miracles can happen.

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