Are any lotteries remotely worth doing?

[BRISTOL86]

I used to do the National Lottery back when it was £1 and 49 numbers. Obviously the odds of a decent win (or even a tenner!) were rubbish but at £1 a week, the fantasy of the big life changing win was a nice one, even though obviously it would always remain just that - a fantasy.

Then they increased the cost and quantity of numbers and I sacked it off.

Are any of the smaller lotteries with smaller prizes / better odds worth doing? I know nothing about any of them and I’m not a gambler at all in the main bar the odd work sweepstake!

Or is there something else that’s speculative that’s worth chucking £50-£100/y at with a smaller potential prize?

Better off doing a scratch card a week in the hope of a smaller prize? Or doing a ten fold football accumulator for £1 a week or something?

[Silverbullet767]

Euromillions isn't worth doing either. Got lucky with 5 out of 7 numbers once, won £45. £42.50 with my initial £2.50 taken away. Pathetic.

[Sheepshanks]

Silverbullet767 said:

Euromillions isn't worth doing either. Got lucky with 5 out of 7 numbers once, won £45. £42.50 with my initial £2.50 taken away. Pathetic.

The way the value falls off is incredible - you could get 4 main numbers and both bonus numbers, so you're one off from winning the jackpot but you get buttons.

I don't know why they bother with the lower prizes - do people really do it hoping to win small amounts? I only do it when it's over £40M!

[anonymous-user]

Premium bonds/NS&I?

I know it's highly unlikely to be an actual "thing" but I've found having round numbers (multiples of '000) in there seemingly increases your odds of "winning".

[Mr E]

I used to consider the lottery as a tax on the mathematically inept.
As I’ve got older I’ve realised it’s actually a tax on hope.

[BRISTOL86]

OpulentBob said:

Premium bonds/NS&I?

I know it's highly unlikely to be an actual "thing" but I've found having round numbers (multiples of '000) in there seemingly increases your odds of "winning".

I did wonder about something like that rather than a standard lottery

[BRISTOL86]

Mr E said:

I used to consider the lottery as a tax on the mathematically inept.
As I’ve got older I’ve realised it’s actually a tax on hope.

Obviously the chances of a life changing win are ridiculous, but where else do you get a chance of that - however small - for £1?

I think most people go into it knowing full well it’s likely to end up being a complete waste of money. But so is buying a beer or a coffee or a newspaper to be honest.

[TooMany2cvs]

Mr E said:

I used to consider the lottery as a tax on the mathematically inept.
As I’ve got older I’ve realised it’s actually a tax on hope.

It's the same story as an aftermarket used-car warranty.

Both pay out far less than they take in, after deducting all their costs and profits and taxes.

The only difference is that with a lottery, you're hoping your luck is significantly better than average, while with a warranty, you're hoping it's significantly worse.

[nicanary]

Check with your local bookie whether they offer the Irish Lottery. The prizes ar lower in value but more numerous and there's far more chance to win a few grand rather than £40. I know people who regularly win - 3 or 4 times a year, for a small outlay.

[MarkwG]

Mr E said:

I used to consider the lottery as a tax on the mathematically inept.
As I’ve got older I’ve realised it’s actually a tax on hope.

Indeed.

[P-Jay]

Mr E said:

I used to consider the lottery as a tax on the mathematically inept.
As I’ve got older I’ve realised it’s actually a tax on hope.

I like to think of it as entertainment - it is after-all a form of gambling, not a form of investment. If anyone out there is really buying tickets thinking they're going to win, they need help. I've never understood people who buy multiples of them - yeah it increases your chances of winning, but only from the near impossible to, well still the near impossible.

People who spend all their money on scratch cards really do need help.

No the way I see it is, I think a lot of people have a 'fantasy lottery garage' or a 'fantasy lottery house' they fancy or whatever, it's a fun game to play - well, it's a better game if you occasionally buy a ticket.

[putonghua73]

I do the EuroMillions in the vain hope that I might win a life-changing amount - either via winning a sizeable amount via choosing correct set of numbers, or via random millionaire ticket.

Obviously, I understand the probabilities, thus I only buy a single ticket. I've won more on the Grand National (£15 @14-1 on Tiger Roll - Nintendo Switch fund, bay-bee - except my partner swiftly asked for £200 as a "contribution", and after my initial stake I ended up with enough to buy a Manga and a coffee ..) than I have ever won on the lottery.

As others have stated, a £5.00 flutter each week is not going to break the bank. Although it does get tiresome to be woken up by an email on my mobile to inform me of "exciting news". £3.00 is not "exciting news" - especially when I deduct my initial stake.

[TTmonkey]

nicanary said:

Check with your local bookie whether they offer the Irish Lottery. The prizes ar lower in value but more numerous and there's far more chance to win a few grand rather than £40. I know people who regularly win - 3 or 4 times a year, for a small outlay.

most people that go to the bookies will tell you how the regularly win. probably even believe they are up, and are beating the system.

[GCH]

Some.
This is an interesting (long) article on exactly that
https://highline.huffingtonpost.com/articles/en/lo...

[IanCress]

I've stopped playing the main lottery game and just do the Thunderball instead. Seem to win small prizes much more regularly than I ever did on the Lottery, to the point where the Thunderball tickets have paid for themselves for the past 3 months or so.

[Jimmy Recard]

I don't think so. Premium Bonds could be worth a go, as at least you don't lose your stake. You'll probably get a better return with reasonable bank account interest though, so it's statistically only worthwhile if you've already got cash stashed all over the place

[hairyben]

Mr E said:

I used to consider the lottery as a tax on the mathematically inept.
As I’ve got older I’ve realised it’s actually a tax on hope.

speaking as someone whose never placed a bet or bought a lottery ticket etc, its easy to look down on those who do, with your smart rational brain chortling away at their silliness. But then, where does someone like my MiL fit in, someone with a sharp business mind whose made and retained a pile more money than most of us ever will, yet who also loves her occasional go on the pokeys? She also seems to return from them carrying a payout more often than seems correct...

[66mpg]

I think you guys are interpreting “doing” incorrectly if financial gain is your aim. You should try running a lottery rather than playing one.

[cootuk]

The Swedish Lotto has odds of about 6,7m to win the jackpot (usually of a few million), but not many valuable lower prizes.
The drawback is having to go through a company that probably doesn't buy real tickets, but lays the bets off.

[Willy Nilly]

P-Jay said:

No the way I see it is, I think a lot of people have a 'fantasy lottery garage' or a 'fantasy lottery house' they fancy or whatever, it's a fun game to play - well, it's a better game if you occasionally buy a ticket.

This is sort of the way I view it. I play the Lotto and Euro Millions from time to time and have a few grand in Premium Bonds. My Premium Bonds did better than my cash deposits last year and tomorrow I'll get my million quid which I have been patiently waiting for.

In all honesty, I could cope easily with a million pound PB jackpot win which would make life quite comfortable, but the mega money Euro Millions jackpot could well be a poisoned challis and cause more issues than it solves. I'd just know what to do with myself and if I didn't have to get out of bed in the morning for work I'd easily slob about all day getting depressed.

£50,000 would be quite nice as a win