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9 Tips for Effectively Playing Lotto Online
By Brodey Sheppard - April 28, 2016
Most of us have dreamed of winning the lotto, but it can be quite difficult to turn the odds in our favour. But, if you utilise an effective technique when it comes to buying lottery tickets online, you might find yourself hitting small and even bigger prizes. Do you want to know how to play lotto online with a strategy that works in your favour? Review our tips below, see how they stack up against what you're currently doing, and you might just see the odds positively changing for you. Sometimes a simple and easy change can yield positive results.
1) Determine Your Expected Value
Your Expected Value (EV) is the profit that you anticipate earning from the lottery tickets that you purchase. Let’s say you bought a ticket along with 999 individuals who also bought a single ticket. That sets you with a 1 in 1,000 chances of winning the jackpot, with 999 chances of losing in that particular draw. In this example, let's set the jackpot prize to $500 million and each ticket price to $1. To calculate your expected value, you have to subtract your losing odds from your winning odds:
Expected Value = Winning Odds - Losing Odds
What you will do is multiply the amount you'd win or lose to the probability of an outcome.
Expected Value = $500,000,000 x (0.0001) - $1 x (0.999)
Expected Value = $50,000 - $0.999
Expected Value = $49,999
In this example, you will see that in the long run, as you continue to buy one ticket for every draw, you will have an expected value that will amount to $49,999. That's not bad at all! With that said, the better your expected value is in a particular lotto contest, the more tickets you should buy. It is worth noting that the higher the jackpot rises, the greater your expected value will be.
2) Choose the Quick Pick or Use a Random Number Generator
How do you select numbers? Do you choose numbers by luck or strategy? The majority of the lottery contests online will allow you to either select your own numbers or let the computer choose random numbers for you.
A good option is the Quick Pick since it actually gives you a little higher expected value.
This is true because humans, in general, are bad at selecting random numbers. People tend to select number sequences that are far from random. In lotto, individuals tend to choose numbers that are based on superstitions, important dates, certain number patterns or even based on results from a recent lottery. If you are going to do the same, chances are you will end up splitting your lotto windfall with someone else. Needless to say, there are higher odds that another person picked similar or exactly the same numbers that you chose. Hence, your lottery ticket’s expected value will slightly drop.
Remember this fact: the number of chances you have for winning the lottery will still be the same no matter how you select your numbers. However, you can still tip the odds in your favour by choosing numbers that are random. Hence, select the Quick Pick option, or use HitYah’s lotto number generator whenever you purchase tickets online.
3) Join Lottery Pools
A common activity done by groups of friends or workmates, lottery pooling is an arrangement where people pool their money together to buy batches of tickets. If any of those tickets win, the windfall is divided equally among the members of the pool.
In this particular scenario, you will not focus on increasing your expected value especially since your potential winnings will be reduced. However, pooling helps to increase your odds of winning because it allows you to effectively play more than the usual number of tickets you would buy as an individual.
You need to be careful when joining lottery ticket pools. Some people become monsters when it comes to money and things can get ugly if no legal agreement is present within the group. After all, it takes honesty for one person to tell the rest of the team about their winning ticket.
A better option would be joining online lotto syndicates at The Lotter and getting all the pooling benefits without the hassle. By playing with a group online, you do not have to go through the difficult task of ensuring that everyone in the group has paid up or has received their fair share of winnings. Just let the world of online lotto sort it all for you!
While this advice breaks the previous tip regarding focusing on your expected value, it is still worth considering since it will help increase your odds enough. It is true that your expected value in a pool will be lower, but it does not hurt to maximise all the measures you need to win a life-changing amount of money.
4) Purchase Your OwnTickets Online
Always purchase your own tickets if you are not joining a lottery ticket pool. Don’t ask other people to buy tickets for you, or ask them to use their credit cards so you can purchase tickets online. If you’re lucky enough to win a big jackpot, these people may feel entitled to get a portion of your lottery windfall. If you do not have a credit card, know that there are actually other payment methods available online. You can choose bank transfer or even use Skrill or Neteller. Just keep it simple and always be the one to purchase your tickets.
With that said, remember not to make casual promises to other people. It’s easy to promise others that you’ll split the jackpot with them when you know that your odds are one in over a million. However, the story changes when you actually beat those odds and be lucky enough to win the jackpot – just like the Scottish couple who won the biggest lotto jackpot in the UK.
5) Take Necessary Measures to Secure Your Winnings
Even though it's exciting to play lotto by buying tickets from a retailer, a lot of things can still go wrong. Since this system relies on the physical copy of a lotto ticket, there is a possibility of you losing it. That is why it is necessary to take the steps in securing your winnings. Remember to sign the back of your ticket and keep it in a safe place where no one can dare steal it, and remember not to post a photo of your ticket online. Some lotto providers have the option of a card, like a Winners Circle card, which retailers can scan so that all your ticket purchases are recorded. In this way, you will be notified if your ticket wins. Just remember to keep the card on you, and remember to hand it to the cashier.
On the other hand, the most convenient option you can choose is purchasing your lotto tickets online. You can go to The Lotter and find several local and international contests which you can join. . Since this is a reliable ticket purchasing service, you can be assured that all you will be notified once your ticket wins a prize. You just have to pay the handling fee and all your lottery windfall will be yours.
Purchasing tickets online also takes the ticket managing tasks off your shoulders. The site will purchase the tickets for you and scan them. You will see all your tickets on your account. Sometimes, there are unclaimed lotto prizes because people simply miss the results. This won’t happen to you when you purchase lotto tickets online. You will be notified immediately via email if you’ve won a prize. Alternatively, you can also sign up for an SMS alert so you can be notified via text message.
6) Plan Ahead: What Will You Do With Your Lottery Winnings?
You may have heard the horror stories of lotto winners turned big losers. These people did not have a clear plan on what they’d do with their winnings and after a few months or years, they ended up destitute and broke. Don’t let the same thing happen to you. If you are a regular lotto player, plan ahead and determine what you will do if you hit the jackpot.
Make smart decisions – decisions that the other suckers who won big and ended up poor didn’t make. The ideal thing to do once you’ve won the lotto jackpot is to get in touch with a CPA, a financial advisor and a lawyer. Build a strong relationship with your team and let them know that you need them to help you preserve and even grow your money, making wise decisions along the way.
Keep your money diversified and set some aside for the long term. What you can do after keeping a portion of your windfall in cash is to invest in stocks, bonds and precious metals. Remember not to get involved in investments that you have little to zero experience. For instance, if you have no knowledge about the real estate market, do not use your winnings to purchase apartments in your area. Always ask advice from your financial team.
7) After Winning, Set Boundaries
Once you’ve won a huge jackpot, you have to prepare yourself for people who will always have an opinion on where you should invest your money and even ones who will ask you favours. Once the news is out that you’ve won the jackpot, people will flood you with business opportunities and investment ideas.
As much as you can, try to remain anonymous, like the Set for Life winner. There are lottery contests who will respect your decision to keep your name in secret. But still, there are those who will eventually reveal you as the winner and you have to be prepared for that day. Learn to set boundaries and politely say “no” to people. This sends you back to the previous point which tells you to seek professional help when it comes to making decisions regarding your money.
8) The Convenience of Buying Lotto Tickets Online
Through the years, more and more people are turning to the Internet to buy their lottery tickets. Purchasing tickets online is more convenient as you can easily and quickly do it from your laptop, phone or mobile device. It takes away the hassle of searching for a shop or a convenience store that sells tickets. Moreover, it saves you time and money as you do not have to spend cash on travel and you do not have to wait in line to get your ticket.
9) The World is Your Oyster!
Another great thing about playing lotto online is the freedom to enter a draw regardless of your location. You can be in South Africa and still enter the US Powerball. If you prefer to win massive jackpots, joining foreign lotteries is the best way to go. You can play the Australian Powerball, the US Megamillions, the UK National Lottery, El Gordo from Spain, SuperEnalotto from Italy and the South African Powerball. So visit The Lotter now and purchase your tickets and enter the lottery draw of your choice!