Why Do People Play The Lottery

Why Play the Lottery?

Its a simple enough question but is it one that comes with a simple answer in reply? Why does anyone play a lottery, whether its a state run draw, an online game or a prize fund thats associated with a charity?

Surely the answer is to win big, tell your boss what they can do with their job and retire with millions in the bank and a lifestyle to match?

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For years, the UK lottery consisted of numbers from 1-49 and the entry price was 1.00. In 2016 however, that price was doubled and an extra 10 numbers were included and to put that into context, anyones chances of matching all six numbers on a winning ticket had now decreased from around one in 13,000,000 to one in 45,000,000.

The minimum cash prize had increased to 25 but the chances of landing that had reduced significantly at the same time. As Britain approaches the second anniversary of those amendments it doesnt take a genius, mathematical or otherwise, to see why people are moving away and looking for alternatives. Without a win, no matter how small it may be, interest will start to wane.

Around the World

Its interesting to compare chances of winning the big prize from lotteries around the world. Weve seen how the odds in the UK have extended to one in 45,000,000 of winning the jackpot but over in Spain, its estimated that players have a one in 100,000 chance of winning El Gordo, the classic Christmas lottery that has been established for some time.

Elsewhere, the trend is definitely to make things harder and thats in evidence again when we consider Powerball in the US. Huge prizes are at stake here and it holds the record for the biggest prize won with a single ticket at $758.7m USD.

However, this is another lottery that has introduced additional numbers, thereby making things significantly harder. With a choice of numbers between one and 69, the chances of landing the top prize in Powerball has recently increased from an already unlikely one in 175 million to one in 292 million. The draw can go for months without seeing a winning ticket for the jackpot although there are prizes starting from $4.00 and a one in 38.2 chance of winning any cash at all.

Then theres EuroMillions which carries odds of one in 139.8 million of matching all numbers and a one in 13 chance of winning any prize. Those prizes start small with around 2 to 3 Euros available at the lower end of the scale.

Why?

There are examples here from right across the world and they bring us back to our original question. Players play lotteries because they dream of winning the big prize but their hatred of being ripped off can often negate those aspirations.

If a lottery player buys a ticket every week for five years and doesnt even win the smallest cash prize how long will it be before they cancel the direct debit or find something more tangible to spend their loose change on?

Weve assessed the chances of a number of lotteries here both in terms of the jackpot and the lowest available cash prize. Wed expect it to be tough to land the big one but are the chances, and the prizes on offer at the lower end of the scale really fair?

Winning the lottery is a dream for everyone, said Gouloud Hammoud, Director of online lottery operator 7StarBall.

Big wins are what drives the industry. But big hopes and dreams alone do not satisfy todays customers. They want a winning experience. If you dont win anything for consecutive weeks would you keep playing? Thats what we see happening in the lottery industry. We made a system to award one winner out of every five entries.

Alternatives

Online lotteries have certainly not missed the point and as State Lotteries become tougher, a host of alternatives are open to anyone with an internet connection. Log on to any established bookmaker and players will find quick and easy access to a selection of lotteries from around the world.

Those operators allow you to bet on the outcome but effectively you are still buying a ticket. The only thing thats really changed is the terminology and there are some definite benefits.

Choice always brings obvious advantages so, if a player wants a game with a smaller top prize but a higher chance of winning, thats a clear plus point to an online lottery game. Alternatively, smaller cash rewards may be given out for matching just one or two numbers so once again, thats another tick.

Online play also comes with an element of convenience but this is also the case for any state run lottery. Online purchases can be made swiftly and safely and a direct debit can also be set up. No-one wants to forget to buy their ticket and then look at the results with one eye shut to make sure their regular numbers didnt land.

Evening it up

One popular method of creating more winners is making a comeback. The concept of Pari-Mutuel was first invented back in 1867 and essentially, the house is taken out of the equation and a pool of money is made available for a set of prizes.

Around the world its also referred to as the Tote but the rather outdated French alternative is creeping back into lottery parlance. By adopting this system, online operators can make certain guarantees so, for example, for every five tickets purchased, every fifth ticket is a winner.

Those operators can do this because they diversify. Profits may be negligible or even non-existent under the pari-mutuel scheme but by running this alongside a standard format such as Powerball or EuroMillions where big profits are raked in, funds can be diverted to another system that gives more back to the players.

Everyone buys a lottery ticket at least once in his/her life, added Gouloud Hammoud of 7StarBall.

.But not many keep on playing. Why? Because they didnt have many winning experiences. Big Jackpots are what motivates people to play the lottery, and many small winnings are what keeps them in the game.

Its all a question of balance: Lottery players have the dream of a big win but they need to keep interested and getting a right mix of regular, smaller payouts is key for some operators in order for their customers to stay onside. So, for anyone tired of drawing a blank, there are alternatives.