When you start playing the lottery or simply gambling any other way, you don’t expect much. Buying tickets or playing slots online is just a norm as a hobby for you, so you decide not to question it until you actually win. …And if that really happens.
Yet, have you ever thought about how much money can you win from 1 dollar lottery? This question always stays popular as people can’t that the jackpots others receive come from just one cheap lottery ticket you buy systematically.
Well, today we’ll let you know how much can a $1 ticket bring to you, is it really worth playing, what kind of lottery you can play and how to win your designated jackpot. Stay with us if you’re interested and learn something new!
Is It Worth Playing the Lottery
Of course, you’ll question yourself for the first time and then when you don’t win from next several tickets. Is the lottery even worth playing? Some might think it’s too time-consuming or you have to spend a lot to gain the prize at least once. To help you find the negative and positive aspects out and to decide, we created a pros and cons table for you.
Pros & Cons of Taking a Chance
Pros:
- it’s fun to be involved with other people, especially when it’s the city or state lottery and your every friend knows about it;
- there’s a community built around any lottery and so it’s quite easy to find friends or someone to play with while communicating during the official draw;
- when you try playing the lottery instead of gambling in the casino, you realize that the odds are a lot higher even if you don’t have special skills and simply guess your answers;
- in case you’re fond of math and accounting, the lottery can be your favorite hobby as you try to decide on the best strategy for your numbers.
Cons:
- lottery really is money and time consuming if you don’t set up your initial budget and plan to buy the tickets, for example twice a week on Monday and Wednesday;
- there’s such thing as lottery addiction, same as with casino, and it’s easy to start losing money more in hope of getting a million back;
- odds are huge but you won’t be guaranteed to win even if you become somewhat systematic;
- it’s extremely easy to lose all your money after you win, and the taxes for lottery winning can be very high.
Types of Lotteries You Can Play
There are different types of lotteries you can try yourself in, and most of them can cost from 50 cents and to a bit more than 1 dollar for an entry/ticket.
Lotto
Lotto is one of the most popular titles known across the world and it’s possible to simply buy the ticket for 1 dollar or even enter the draw online. It works by you matching 6 numbers from 1 to 47 on the card as a player, and then hosts and a special machine picking 6 balls with numbers.
If you’ve matched all six – then you’re a jackpot winner, yet, it’s also possible to match less and still get some cash.
Biggest amount to win: one of the best payouts come from the Lotto, you can get more than 300 million dollars from a 1 dollar ticket.
Powerball
Another great title which people claim to have better odds at then the Lotto one. While you had to match the 6 numbers before, you’ll have to do the same by picking 5 white numbers and one red in Powerball. It can be done in any order and those will be drawn two times a week.
Yet, you have to note down that a lot more people play this lottery, and also the ticket will cost you twice the Lotto one – it costs 2 dollars for entry.
Biggest amount to win: 590 million dollars, but the smaller amounts can be 10,000 or 1 million dollars.
Scratch-off cards
Sometimes you might find the card scratching games that worth more than 20 dollars to enter but you simply have to explore your options. There are 1 dollar ones in real life retailers and also on the internet, so you don’t even have to leave your house to win a prize.
The difference between Lotto and card like that is you get to know about your winning and prize right away. The odds can be extremely nice, too.
Biggest amount to win: 4 million dollars per one game and some can be 1,000 dollars paid every week for 20+ years.
Dailies
Everyday entries called Dailies are the easiest variant for new players as they don’t cost more than 1 dollar and can be played even twice a day. They are pretty easy to win as you don’t have an unpredicted number of players and your prize is smaller than in Lotto or Powerball.
There are two options: to pick several numbers and try to match them in perfect order for a bigger win or to simply pick and they can be in a random order, but the prize will be lower as your odds are higher.
Biggest amount to win: the most that were won is 175,000 dollars in Fantasy 5.
Raffle
It’s a bit different with Raffle than any other lottery as that’s not when you can choose your own fate as in your own numbers. Those are already chosen for you and typed into your ticket as it’s mostly played when you enter the Lotto.
This one is also international and has two types: a UK one and a Lotteria De Navidad. While the first one is determined the day Lotto is drawn, the second type is hosted every year and the jackpot can be a lot bigger. That’s why Lotteria is a lot more costly to play than UK Lotto, too, so don’t expect your ticket to be cheap.
Biggest amount to win: 20,000 pounds in the UK Raffle, and 2 Billion euros for the Lotteria De Navidad.
List of Biggest Jackpots People Won Throughout the Years
Now we know what kind of lotteries there are and what you can expect from them, so it’s time to look over the actual biggest jackpots that were won throughout the years.
Powerball:
- In the year 2016, there was the biggest jackpot for Powerball that read 1,586 billion dollars, splitting down for each winner to get over 500 million.
- The year 2019, won in one ticket (for one person), and it reached over 700 million dollars.
- The biggest amount to win for a single person in 2017 – more than 758 million dollars was won on August 23 that year.
Mega Millions:
- Over 1,500 billion dollars were won by only one anonymous person in 2018, and they said they will donate most of the sum to charities.
So, now you know how much you can get from a one-dollar lottery. Even though it’s hard to win, you now know how to choose your best type of lottery to play and what positive and negative sides to know before you become a serious and dedicated lottery player
