Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@. Skimlinks & other affiliated links are turned on

Search
  • FIRST POST
    • sarah861421
    • By sarah861421 12th Oct 17, 2:22 PM
    • 142Posts
    • 1,524Thanks
    sarah861421
    Which Lottery has the best odds?
    • #1
    • 12th Oct 17, 2:22 PM
    Which Lottery has the best odds? 12th Oct 17 at 2:22 PM
    Almost sure that this is the wrong forum, so apologies and please move it to wherever it should be.

    Which Lottery has the best odds?

    For the last few years I have bought one lottery ticket per week ( via direct debit,). It has cost me £104, and I think I win about £25 once a year.

    I realise that the charity side is important and I am basically throwing my money away but still...
    Do smaller local lotteries have better odds, are scratch cards better, or the Health lottery or Postcode one. Its highly unlikely that I would ever spend more than £2 per week, and wondered what people thought. Have MSE ever looked into it?
Page 1
    • Wizzbang
    • By Wizzbang 12th Oct 17, 11:59 PM
    • 4,067 Posts
    • 8,876 Thanks
    Wizzbang
    • #2
    • 12th Oct 17, 11:59 PM
    • #2
    • 12th Oct 17, 11:59 PM
    Lotteries are known as the poor man's tax for a reason. Put your £104 into a high interest savings account instead. Play a free lottery if you must.
    Minimalist
    Extra income since 01/11/12 £33,602.53
    (Not inc coupons, yellow stickies, bank interest or loyalty rewards because I have better things to do than catalogue everything!) Swagbucks £2,240
    • soolin
    • By soolin 13th Oct 17, 9:03 AM
    • 59,241 Posts
    • 41,996 Thanks
    soolin
    • #3
    • 13th Oct 17, 9:03 AM
    • #3
    • 13th Oct 17, 9:03 AM
    You only have to see how much of the income from selling tickets goes out to 'good causes' and admin to work out that this is a worse form of gambling even than most games of chance.

    If you must gamble, and I do still play the lottery out of habit, perhaps look at premium bonds, the return is still very low indeed, but percentage wise more is paid out to holders than through a lottery plus your stake remains unspent. All it does is decrease due to inflation.
    I'm the Board Guide for the Ebay Board , Charities Board , Dosh & Disability , Up Your Income and the Local MoneySaving-England board which means I'm a volunteer to help the boards run smoothly, and I can move posts there. However, do remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com
    New to Forum? Guide
    • Quickblood
    • By Quickblood 15th Oct 17, 9:08 AM
    • 264 Posts
    • 290 Thanks
    Quickblood
    • #4
    • 15th Oct 17, 9:08 AM
    • #4
    • 15th Oct 17, 9:08 AM
    I don't think you should think about the lottery logically. We waste a bit of money on it everyweek cause we like to live in hope. The odds don't really matter too much and we all know that it's money that in the long run could have been spent better.
    If you don't care too much about the big jackpot then do the Thunderball as that's only £1.
    2007 Won Ipod 30GB Video Sold on ebay for £136.51
    Total Winnings in 2007 = £136.51
    Total Winnings In 2008/2009/2010 = £0
    Total Winnings In 2011 = £305.37 (49s Lotto)
    Total Winnings In 2012/2013/2014/2015/2016 = 0
    Total Winnings This Year = £0
    • mjm3346
    • By mjm3346 15th Oct 17, 4:44 PM
    • 34,814 Posts
    • 225,369 Thanks
    mjm3346
    • #5
    • 15th Oct 17, 4:44 PM
    • #5
    • 15th Oct 17, 4:44 PM
    The least bad "moneysaving" option is to have a bet on the 49's offered by most bookmakers - A £1 bet to pick 5 and match 5 out of 49 numbers pays £150,000 and match 4 from 4 pays £10,000 - by way of comparison matching the same on lotto hotpicks when there were only 49 numbers paid £130,000 for 5 out of 5 and £7,000 for 4 from 4 so a bet on the 49's paid 15% more for matching 5 and a massive 43% more for matching 4 where the odds of winning were the same.
    • adonis10
    • By adonis10 16th Oct 17, 12:33 PM
    • 1,453 Posts
    • 179 Thanks
    adonis10
    • #6
    • 16th Oct 17, 12:33 PM
    • #6
    • 16th Oct 17, 12:33 PM
    The Health Lottery seems to have draws almost every day, but the main draws are Saturday and Wednesday - is this correct? How does the second chance draw work, for example for losing Saturday tickets?
    • adonis10
    • By adonis10 16th Oct 17, 12:37 PM
    • 1,453 Posts
    • 179 Thanks
    adonis10
    • #7
    • 16th Oct 17, 12:37 PM
    • #7
    • 16th Oct 17, 12:37 PM
    I don't think you should think about the lottery logically. We waste a bit of money on it everyweek cause we like to live in hope. The odds don't really matter too much and we all know that it's money that in the long run could have been spent better.
    If you don't care too much about the big jackpot then do the Thunderball as that's only £1.
    Originally posted by Quickblood
    Same here. It seems as though some people think about it too mathematically and write it off based on the stats (which is completely understandable) but, as you say, if one allows oneself x amount of discretionary spend, what is £1-£5 per week on the lotto? Yeah, there is almost no chance of winning but all those millionaires and multi millionaires had the same chance but they just got lucky. Ok, if you're squandering £20, £30 etc. a week then, yes, it is an awful waste of money and you probably need to assess your gambling habits but a few quid here and there is little different to a few pints in the pub now and then, or meals out etc. I feel one has to strike a balance between analysing every penny of spend and taking the odd risk.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

4,001Posts Today

8,622Users online

Martin's Twitter