Recently, I saw a segment on the Rachael Ray Show about how to increase your chances of winning the lottery.
Her guest, Richard Lustig, wrote a book, How to Increase Your Chances of Winning the Lottery, since he won the lottery seven times.
I don’t really advocate playing the lottery instead of looking for a job or saving and investing your money. But I also don’t see anything wrong with playing the lottery for fun if it’s in your budget.
I actually won the first time I bought a lottery ticket. I got 4 out of 6 numbers from a quick pick and won under $100.
Anyway, back to the show. I found it interesting that this author had 3 simple strategies to increase your chances of winning the lottery.
1. Buy several scratchers in a row.
Buy several tickets in a row of the same kind of scratcher ticket at once, instead of several different kinds. This will increase your odds of getting a winning ticket.
The Rachael Ray Show bought the same scratcher ticket for everyone in the audience. 17 out of 125 audience members had a winning lottery ticket. Most of them won under $20. Still, those are great odds, aren’t they?
2. Don’t buy quick picks.
Basically, if you buy only quick picks, it doesn’t increase your odds of winning. Your chances of winning are always the same. Instead, play the same numbers each time.
3. Keep your losing tickets.
You can write off losing tickets against taxes paid on your winnings, if you win enough money in a year.
Plus, the author didn’t mention this, but for some lottery tickets, you can send in your losing ticket to be entered into a second chance lottery. The prizes aren’t as big but some people win anything from $1,000 and to even $1 million. And your chances of winning are even greater since most people don’t enter this second chance lottery.
Here’s Richard Lustig’s book:
Photo Credit: juggernautco
Featured in the Totally Money Blog Carnival #20 – “What Would You Do?” Edition, hosted by Outlaw Finance.