Is it really worth playing the Lotto?
The National Lottery could make dreams happen… It Could be you… All of those phrases make the Lottery seem an easy way out of your problems, after all, who wouldn’t spend a pound in the hope of winning millions?
The truth is, according to Camelot (The Uk National Lottery operator) that the chances of winning any kind of prize including matching three numbers for just £10 is one in 54. That means you have a 53 in 54 chance of losing and losing is something most players do, draw after draw, week after week. It means that 98% of purchased National Lottery tickets end up in the bin as losers. We spend around £5 billion a year on the Lottery and it’s variants, yet only half of this amount is ever returned.
Let’s do a small amount of maths to see if this makes you realise the chances of winning the lottery. Matching 4 numbers has the odds of 1,033 against you, meaning if you buy every ticket, within 20 years, you will have a roughly 63% chance of scooping this once. The average prize of 4 numbers is around £55.
The chances of you winning 5 number is 55,492 to 1. So if you buy one lottery ticket a week for close to 1,067 years, you would have around a 63% chance of scooping five numbers at least once, the average prize for 5 numbers is around £1,000
Life changing money could be sumed up with 5 and the bonus ball, the odds of winning this is 2,330,636 to 1, so you would need to live until the next millenium if you played once per week, suming up, this is just almost impossible and we are not even at the 6 out of 6 yet.
The chance of matching 6 nunber is an amazing 13,983,816 to 1, the same as plucking a single lucky grain from a wheelie bin of sand!
There are winners of course, the lucky people who have won and the Goverment who make around £1 per £8 spent. Some of the money also goes to good causes (charities and community groups), however, the chances of your £1 ever winning you a prize is highly stacked against you.
With players leaving the Lottery, it’s no real shock, the only thing is, if you quick, could that Miracle happen? With Gamblers losing £2.5 billion a year by playing the Lotto, the real winners arn’t the players…
Category: Your Money
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