Lottery Odds Vs. Progressive Slots Jackpots – Which Are Best?
Lottery Odds Vs. Progressive Slots Jackpots
If you want to become a millionaire overnight, then you really have just three options: you can rob a bank, play the lottery, or try your hand at the progressive jackpot slots. For the sake of legality, we’ll discard the first one. But of the other two, which one has the best odds of winning? When we’re deciding between the two solely based on the odds, then you’re going to be better off putting your money into a progressive slot. But having said that, there is a little more involved. There are other factors to take into consideration if you want a big win. So without further ado, let’s have a look at the lottery odds and progressive slots odds, and see where you’re better spending your money.
The Lottery Odds Of Winning The Jackpot
A quick Google search reveals that the lottery odds of winning the Mega Millions jackpot are 1 in 302,575,350. The Grand Prize in Powerball has winning odds of 1 in 292,201,338. In other words, to win these prizes, your lottery odds are around 1 and 300 million. An easier way of understanding these odds in real terms would be to imagine choosing the American President at random from all the adults in the US. In this case, the odds of selecting you would be 1 in 209 million.
Of course, it’s a false analogy to talk about the lottery odds only in terms of the largest prizes. The self-serving publicity used to sell lottery tickets is obviously going to focus on the multimillion-dollar grand prizes. On October the 23rd 2018, the largest lottery win of all time was via a Mega Millions draw and it was a total of $1.537 billion. But the truth of the matter is you have much better odds of winning smaller sums. For example, you can find scratch cards that have a 1 in 3 odds of winning your money back. For smaller prizes, even the Mega Millions has an offer of 1 in 24 lottery odds of winning something.
Progressive Slots: The Odds Of Winning The Jackpot
Dotted around the city of Las Vegas you’ll find a network of progressive jackpot slots called Megabucks. The odds of winning the jackpot with this slot are around 50 million to 1. In 2003, the Excalibur Hotel and Casino on the Las Vegas strip paid out $39.7 million to a lucky winner.
The odds for different slots are calculated in a different manner and so can vary considerably from one to another. For many progressive slots, the deciding factor is the time limit on the prizes being paid out. For example, some progressive slot machines are guaranteed to hit within a certain time period such as a week, month, or year. But other progressive slots like the Megabucks can actually go for years without being triggered. That’s one of the reasons they are able to amass such huge amounts of cash.
Thanks to the internet, you can now go online, and shop around to find the land-based casinos with the best odds. In truth, you stand to win more at a regular land-based casino than you would do online. Nevertheless, there are plenty of online progressive slots where you can win the jackpot online, and where winning five figures are still possible.
The Bottom Line
If we are just taking into consideration the largest prizes, then you have a much greater likelihood of winning a casino progressive jackpot than that of the lottery odds of your ticket being the grand prize winner. Having said that, when it comes to smaller prizes, you do stand a better chance of winning something by playing progressive slots. Keep in mind there are no jackpot winning strategies or systems involved. Likewise, there are no such things as “hot” or “cold” machines. Or “hot and cold” lottery numbers. With both of these activities, you should focus on having fun.
When you look at the lottery odds in question then you should console yourself that you are going to lose your money. So you might as well enjoy yourself whilst doing so. You’ll have a great time playing at TheLotter. This is one site offering all the major world lotteries including Powerball, Mega Millions and the EuroMillions.
Play EuroMillions online at theLotter without leaving your home!
Rules To Win Progressive Slots
Many slot players make a basic mistake in that they assume that any spin of the reels might trigger a progressive jackpot. The fact of the matter is that in order to win the largest prize you have to place was known as a “qualifying bet.” This means you have to bet the maximum amount they suggest. When it comes to betting the maximum, you normally have to follow one of these three rules:
- Select all the pay-lines
- Play all the coins
- Play the maximum coins/pay-lines set at the maximum denomination
An example of this would be if you were visiting Las Vegas. And you decide to play on a MegaBucks progressive slot machine. You can play for as little as $1. But if you want to qualify for the progressive jackpot then you need to play all the reels, which means 3 coins and a minimum of $3 in total. The record-breaking jackpot from 2003 was by someone betting $100 per spin. Gulp!
We suggest that before you start playing any progressive jackpot slot you go to the game’s information readout. Ensure that you are actually placing a qualifying bet. Nothing’s worse than spending an afternoon shoving coin after coin into such a machine, only to discover that not one of your bets counts towards a progressive jackpot. So be sure to first check the minimum qualifying spin as you may find it too high for your bankroll. As you know, the odds of losing are much much greater than those of winning. So if the minimum spin is too high for you, simply walk away. Find a slot with an acceptable betting amount.
Rules To Beat The Lottery Odds
A slogan that sums up the whole playing lottery experience comes from the Kentucky Lotteries Office. It says “somebody’s gotta win, might as well be you.” On the face of it, this is true. On the one hand, buying a lottery ticket means you have a greater chance of losing than winning. But nevertheless, someone somewhere is going to be a winner. So, just as the slogan says, it might as well be you. As every number has an equal possibility of selection. So it follows that every ticket has the same lottery odds of being a winning one.
When selecting lottery tickets, there may be some methodology that proves a greater possibility for the user to land a winning ticket. According to the latest lottery news, one of these is using the “Quick-Pick” auto-generated numbers. Another method is simply buying more lottery tickets to increase the chances of winning. You’ll find it’s very common amongst gamblers that the numbers chosen tend to be either their own or a loved one’s birthday. But keep in mind if you choose any number over 31 you will have to split the jackpot should you win. We love to try our hand playing at TheLotter. Here you can find virtually every lottery jackpot from anywhere around the world.
At Jackpotfinder.com, we suggest that you can have more fun going after smaller prizes. This means chasing down smaller draws or playing scratch-off cards. Head over to the website of any State Lottery. You’ll see that they all list the lottery odds of prizes being won for every game they offer. As with all things in life, little research will go a long way.
