The name of Powerball is itself so powerful that its fever grips the US lottery players all the year around At the time of writing the jackpot of this game has record to $94 million grand prize to be claimed. Just ask any winner how he/she feels and you can see that sparkle in their eyes which no other thing in the world can replace. But if you meet not once or twice but a seven times lottery winner then? Ahh..that is just wonderful. Richard Lustig is one such winner from Florida who has one not once but seven times lottery grand prize. Would you ask the secret for his winning. Yes he does guide you all and has even written a book about his trial and error and the math he developed to make all his plays a winning. Here are the seven best winning tips from him which you can too follow.
1. Avoid “quick-pick” in lottery
The “quick-pick” method works in number sets, which means every number doesn’t have the same amount of luck one would perceive. “Every time you buy a quick pick, you get a different set of numbers; therefore, your odds are always going to be at their worst in that particular game,” according to Lustig.
2. Use the entire board and not only stick to your lucky numbers
Many people use birthdates and anniversaries when filling out their cards. While your loved ones bring you priceless joy, using their special days to bring home the jackpot will likely mean you end up splitting the prize with 20-40 people. Instead of just playing numbers 1-31, use all the numbers available. “If you spread the numbers out across the whole track, you’ll either be the only winner or will split it with only one or two people,” Lustig says.
3. Know your instincts and stick to it
Lustig has a specific way to finding the numbers you feel most comfortable with in his book, but ultimately, once you pick the group that you think will work, stick with it. Remember, a set of numbers wins the grand prize, not individual numbers. If playing multiple cards, have some variety in the grouping of numbers chosen to maximize your odds.
4. Be consistent in playing with numbers
If you want to win a particular game, follow past and future drawings to get the hang of it. You can easily know the winning past numbers from the lottery draw result and gather those numbers and see how many times they have been lucky for the winners. Once you get hold of them then be consistent in playing those numbers.
— Lottery USA (@lotteryusa) November 16, 2016
5. Don’t get carried away by the big prize
As with other casino games always have a set budget or bankroll to play lottery. While winning millions of dollars would ultimately grant you and your loved ones financial security, it’s important not to spend money you can’t afford to lose like money for groceries, rent, medical etc on lottery tickets. If you can only buy one ticket or even 10 but not 100, that’s fine. So set a budget of what you’re going to spend. Do not get caught up in what’s called ‘lottery fever,’ Lustig says. Spend what you can comfortably afford to on lottery tickets and no more.
6. Calculate the probability
According to Paul Dreyer, a mathematician for the RAND Corporation , “There are pieces to the Powerball lottery, the major cash prize and the smaller prizes for matching some, but not all, of the numbers. When you add up the expected earnings just from the smaller prizes, it comes out to about $0.32 per ticket. That means that for every $2 ticket you play, for a ticket to be ‘worth it’ in the long term, the expected earnings from the big prize should be at least $1.68.
“The probability of winning the big prize is 1 in 292,201,338. The naive argument would be that once the jackpot gets above $473 million, you should buy a ticket because your expected winnings per ticket is greater than the $2 you spent on the ticket.”
7. Know that taxes eat up nearly half of your winnings
Paul Dreyer also asks you to know that the taxes eat up nearly half of your winnings. He adds that most people would think that playing for the $700 million jackpot is a “no brainer,” but such things are to consider. The winner will be doling out 39.6%, for federal taxes, and your state and possibly city may take a portion. Only California and seven other states don’t tax lottery winnings.
Also the $700M is a 30-year annuity. The cash now option is typically 60 to 70% of the jackpot. For the current jackpot it is $428.4M, about 61% of the annuity total.
Now take these seven tips into consideration when you go for the powerball lottery and remember that everyone will be playing the powerball lottery. Also the larger the prize, the more tickets are purchased by people, and the more likely you are to split the prize. Good luck