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Which Lottery has the best odds?

sarah861421
Posts: 207 Forumite


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?
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?
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Comments
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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 £36,546.450 -
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 a Forum Ambassador and I support the Forum Team on the eBay, Auctions, Car Boot & Jumble Sales, Boost Your Income, Praise, Vents & Warnings, Overseas Holidays & Travel Planning , UK Holidays, Days Out & Entertainments boards. If you need any help on these boards, do let me know.. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com.All views are my own and not the official line of MoneySavingExpert.0 -
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 :T
Total Winnings In 2008/2009/2010 = £0
Total Winnings In 2011 = £305.37 (49s Lotto):D
Total Winnings In 2012/13/14/15/16/17/18 = 0
Total Winnings This Year = £0 :mad:0 -
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.0
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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?0
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Quickblood wrote: »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.
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.0
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