Best Way to Play the Lottery (You’re Not Going to Like it)

By in Automatic Saving, Personal Finance, Saving, Tips | 48 comments

Playing the Lottery and Investing

The lottery pot is the biggest it’s ever been. And lines are forming to buy a ticket.

Yet, the best way to play the lottery is using another approach. After all, aren’t you playing the lottery to get rich? Here’s a way to get rich with a greater probability of success than playing the lottery.

Best Way to Play the Lottery-You're going to be surprised

If you are a lottery player, I want to help you.

If you put $50 per month in the lottery over 10 years, you will have spent $6,000.

The odds of winning the powerball or mega millions is roughly 175 million to one says Kimberly Amadeo in a recent The Balance article.  That’s about the same chance as getting hit by lightning or dying in a plane crash. I don’t know about you, but I don’t know anyone who has gotten hit by lightning or died in a plane crash. 

You are not going to win the jackpot! It is so unlikely that it’s not worth considering.

You may win once in awhile, but it’s unlikely you will come out ahead with your $50 per month lottery payment!

Do not click off yet please. I have an alternative for you. Please stick with me here, this will offer you a better likelihood of making money from that $50 per month lottery payment. Following is the best way to play the lottery.

Click here to Get Rich Without Winning the Lottery!

Where are the Lottery Players?

Lottery players are everywhere. Each one hopes that their ticket holds the million dollar prize.

Last week, while visiting my local drug store, the guys in front of me were so excited. I watched to find out why. They bought a bunch of lottery tickets, and before leaving the store they pulled out their coins to scratch off the winning numbers. These guys brimmed with optimism. It was as if they knew they were going to win. (Find out at the end if they won.)

Every time I head into the supermarket, there is a line at the lottery counter.

Bonus; Best Investment Advice for Millennials

Several years ago, my neighbors spent $75.00 per week on the lottery. They bought a gadget that even picked the numbers for them. And they actually won regularly (Just not more than they lost).

What do all of these lottery players have in common? The players believe they have a reasonable chance of hitting it big.

What’s My Chance of Winning the Lottery?

According to a legacy Business Insider piece by Lubin and Kelley, “The Lottery is Preying on America’s Poor”, an average lottery player wins back $.47 for each dollar played.

Do you want to keep playing a game where you pay $1.00 and win $.47? It doesn’t sound fair does it?

How likely is it that you will ever win the lottery?

If you still don’t believe me, look at your own situation. Keep track of all the money you spend on the lottery and all the money you win. What does your own experience tell you? Overall, have you made more than you lost?

Read; 7 Secrets to Become a Millionaire at any age

So, if you’re tempted to play the lottery, consider the odds. Are you going to be the one in a million person who hits it big? It’s more likely that you’ll get hit by lightning or be in a car crash than win the lottery.

Why are the Poor More Likely to Play the Lottery Than the Rich?

The rich didn’t get that way by playing a losing game.

The statistics are so clear, that the poor play the lottery more often than the wealthy. And the poor can less afford to play the lottery than those with more money.

Best Way to Play the Lottery-How to Win

Try this strategy instead of playing the lottery.

1. Get a big jar and drop in the money you spend on the lottery.
2. At the end of the month, put the money in a bank savings account. Do not touch this money for any reason. After all, you didn’t use it before, you spent it on the lottery, didn’t win, and it was gone.
3. Every month, keep putting that lottery money in the jar, no excuses. Do not stop.

I’m going to guess that you spent about $20.00 per week on the lottery. At the end of the year, you’ll have $1,040. At the end of two years, your lottery money will be worth $2,080. And just assume that interest rates go up a bit in year 3 and you start earning 2.5% on your money, at the end of year three, you’ll have $3,103.

You win $3,000 by not playing the lottery. Not a bad guaranteed jackpot! And if you keep it up for 10 years, your winnings from not playing the lottery will grow to $11,031.

“I agree. I have been saving the $6.00 per week that I used to spend for lottery for the past 6 years. I am a winner every week!” J.W.

Find out how to get rich-without winning the lottery!

Best Way to Play the Lottery is Not Playing – Guide to $1 Million Without Playing the Lottery

And if you really want to reach a million dollars, it’s possible. But, it takes time and determination. You don’t even need to be really smart. The power of compounding returns is a miracle wealth builder. If you want to end up a millionaire, here’s how to proceed.

Start at age 25 and stash $500 per month into an investment account that earns 7% annually. At age 61 you’ll have $1 million. Maybe $500 per month sounds like a lot now, but your employer might kick in a bit (allowing you to contribute less). And over the years, you’ll get raises that will make it easier to save and invest. 

It’s easier than you think to invest a set amount every month in an investment account. You can do this with your workplace 401(k), a Roth IRA or a traditional brokerage account. (I do all three!). 

Next, choose a sensible mix of investments. It doesn’t need to be fancy. Click on the link for a few of lazy investment portfolio ideas.

Then, don’t cash out your investments for many years. That’s right, you can’t sell when your car breaks down or you see a new game console that you must have.

This isn’t a get rich quick scheme, but a sensible long term approach to wealth building.

And if you want Free investment help and management, M1 Finance has pre-made investment portfolios from which to choose. Or you can create your own!

Answer; The guys at the drug store, lost. Losing the lottery demolished their hopes and stole their cash.

Have you ever played the lottery? What was the outcome?

Updated October 23, 2018



  1. I will only play the lottery when it goes over 50 or 100 million. Then I will only spend a $1 because that is all I am willing to lose. In a whole year I might play once or twice.


    September 10, 2012

  2. I agree with KC. I spend $1 when it goes to $250 million. That way, I spend no more than $10 a year just for fun. Unfortunately, those who play lottery are the ones who can’t afford to play. Thanks for the mention, Barbara!


    September 10, 2012

  3. @Krantcents and Shilpan- I doubt whether your lottery habits will have any negative impact on your finances :). If you guys win, let me know!!!


    September 10, 2012

  4. I agree and I tell myself that it is a tax on the stupid every time I buy a ticket LOL. My wife and coworkers pooled $90 for one of the bigger jackpots earlier in the year. Their “winnings” were $29.

    Roger Wohlner

    September 10, 2012

  5. I like doing the scratcher lottery games. I don’t do them often, but I feel like it is at least a little entertainment for my $1.

    The College Investor

    September 11, 2012

  6. Good point. As they say, it’s not bad to dream big. But one must wake up to see the big reality of chance, as you said – 1 out of 3,838,380.

    Amy @ JobCred CV Builder

    September 11, 2012

  7. @Roger, I love your example. That’s exactly the type of “wins” that are so common; less won than spent!
    @College- Great attitude-entertainment. That’s my approach when I gamble a few bucks at Vegas; entertainment.
    @Amy- Great to dream big, and then work to make your dreams come true!!!

    Barbara Friedberg

    September 11, 2012

  8. How about this: if you live in a state with bottle returns, you can get drunk, return the bottles and STILL be head of the lottery. Drinks, fun AND a return. Bonus.


    September 11, 2012

  9. I’m not a lottery player usually just because of the odds, but I have to admit that the last powerball made me buy $10 worth of tickets. I know… I know… hehe.

    Veronica @ Pelican on Money

    September 12, 2012

  10. I also just budget a dollar per month for lottery, for the whole luck thing has never been in my favor. May be someday I will be lucky to win a million bucks!

    Hanna Jensen

    September 12, 2012

  11. @Veronica-Thanks for being so honest 🙂 I don’t think $10 bucks will sink your financial future.
    @Hanna-Like Veronica, $1 per month isn’t likely to put much of a dent in your long term wealth.

    Barbara Friedberg

    September 12, 2012

  12. I love this article, Barb; and the three action steps to winning the llotery are real winners – I would recomend these to all. Interestingly, playing the lotery is very class elated – in the UK it is mainly working class people who do it. In effect, loteries around the world can be seen as another form of taxation, I think.


    September 12, 2012

  13. @Marie, It disturbs me that it seems as though many of the lottery players are those who can least afford it. I like how you referred to playing the lottery as a tax.


    September 12, 2012

  14. I buy a couple tickets a year — I doubt I’ve ever spent more than $5 a year on tix. If I’m suddenly struck with an intuition that I might win, I’ll buy a ticket. 🙂

    Paula @ Afford Anything

    September 13, 2012

  15. @Paula, Okay, so fess up, has your intuition ever been right?


    September 13, 2012

  16. I only play the lottery if there’s a big group going in on it at work. On the VERY off chance that the group won, I’d hate to be the only one not in the pot 😉


    September 13, 2012

  17. There is a lottery pool at work that I play in once in a while but that is it. I don’t drop a ton of money every week.

    I have used this very analogy with other things though. Put the money aside like you were spending it. It is amazing how much you realize you have after even just one month. They say this has worked great for smokers and getting them to quit.

    Miss T @ Prairie Eco-Thrifter

    September 14, 2012

  18. Love it! I’ve spent very little money on it recreationally. But I guess even those little bits would be spent better somewhere else.


    September 15, 2012

    • @Femme-A few bucks here and there don’t really matter if you enjoy the game or fun of playing the lottery. That’s how I look at gambling a few bucks in Vegas. But thinking you’re going to win… well that’s just unlikely. Thanks so much for the visit.


      September 16, 2012

  19. oh I like this sure shot way to win a lottery. Simple advice told in an innovative fashion. I don’t buy tix, never.

    SB @One Cent at a Time

    September 18, 2012

  20. @SB-I really like your determination!!! You are certain to be a winner, by not playing!


    September 19, 2012

  21. Luckily I have never been tempted to buy lottery so far. I don’t get any excitement from that. I am thankful for that too, I have enough vices as it is *cough* Starbucks*cough* I don’t need another one.


    September 19, 2012

  22. @Suba, At least with Starbucks (my vice of choice) you get a lot of pleasure and a nice energy boost.


    September 20, 2012

  23. I only play the lottery for fun a couple times per year with the few dollars that I am OK with losing. I think the reason why so many play the lottery instead of invest is because they see the potential. They see the potential $10 million prize (even though that is unlikely). When they look at investing, they see the value of their 401k drop after a bad day. Then they think, why lose money in the stock market? It’s ironic that they have a short-term outlook on investing but a long-term outlook on the lottery. If they could just take that long-term view with investing, they would be much better off.

    Jon @ Money Smart Guides

    February 17, 2014

  24. @Jon-That is exactly my mission, one person at a time; to teach the long term value of investing! Do you have any other ideas about how to get the value of investing across?

    Barbara Friedberg

    February 17, 2014

  25. I have never bought a lottery ticket. Like you point out, the odds of winning are too remote. Personally, if I want to gamble, I go to Las Vegas or Reno, play craps until I lose my limit, and then pay to see a few shows.

    Bryce @ Save and Conquer

    February 17, 2014

  26. I think I played about 12 times over the last 25 years. I am only willing to lose a bout the $12 I played with. The funny thing is I won once $5 and immediately played the winnings and lost it.


    February 17, 2014

  27. I rarely play the lottery because the odds are so bad! I just had my students read a “student-friendly” article about the odds of winning the lottery and most of them came away with the fact that it’s not worth it. Part of the assignment was to draw a picture with a caption. Their pictures made me smile – stick-ish figures with empty pockets and a sad face. 🙂 My work was done for the day!

    Little House

    February 18, 2014

  28. I’m disappointed. All along I’d hoped you had the magic numbers to help me hit the power ball…..

    Joe @ Stacking Benjamins

    February 18, 2014

  29. @Bryce, That is my strategy exactly, although I prefer blackjack. (But I used to play the blackjack tables where there were $1 tables to be found-no more :))
    @Krantc-Your small examples points out the typical behavior of regular lottery players. Luckily, you didn’t lose much!
    @Little, That sounds so cute. I’d love to see the pix! Great article idea!
    @Joe, Sorry to disappoint.

    Barbara Friedberg

    February 18, 2014

  30. This is definitely true. I’ve only played the lottery once in my life and it will probably stay like this forever. I hate playing a losing game.

    • I received lottery tix for a gift once, but I’ve never bought one! Like you said, why pay to lose?

      Barbara Friedberg

      February 19, 2014

  31. I have only played the lottery with tickets purchased for me.

    With one exception: I joined a lotto pool at work for a while. But, I joined it for the social implications, not the “potential winnings”. It was the first time that this particular group of employees had invited a manager to join the pool and I considered it an honour that I should not refuse ($1/week seemed a small price to pay).

    If there are social motivations, something that brings people together, I say sure…if it’s less than the price of a cup of coffee.

    $20 – $75 a week?! That’s ridiculous…and unfortunate. The money could be put to much better use, especially with the level of debt the average person is dealing with.

    Free to Pursue

    February 20, 2014

  32. @Free-I completely agree about the “social implications”. You look at it in the same way as spending a few bucks to go out for drinks with the gang. It’s “entertainment and collaboration” not gambling!

    Barbara Friedberg

    February 20, 2014

  33. And just assume that interest rates go up a bit in year 3 and you start earning 2.5% on your money

    Ha ha ha ha ha ha ha ha ha ha ha ha ha ha.

    Seriously, though, this is where your plan falls apart. My bank’s promotional rate on a 5 year CD with a $10,000 deposit is 1.1%. For day-to-day savings, if I don’t have $10,000, they’re paying 0.01%.

    The lottery actually has better odds sometimes.


    February 20, 2014

  34. I like it!

    I would never get sucked into playing it regularly… once people pick their numbers they don’t want to give it up in case they come up the following week after they quit.

    You could put the money into the stock market for (historically) much better returns as well of course 🙂


    February 20, 2014

  35. @hymie! Have you looked at the odds of winning the Lottery? I think your last statement is stretching things a bit. It’s easy to find FDIC insured banks and credit unions that are paying up to 2.25% on 5-year CDs right now. Two are Midfirst Direct with a $1k minimum, and Parsons Credit Union with a $10k minimum. The current rate for a regular savings account at Ally Bank is 0.87%. No minimum deposit to open. No monthly maintenance fees. These are all pretty low rates compared to some years ago, but they sure beat throwing away your money on the Lottery.

    Bryce @ Save and Conquer

    February 20, 2014

  36. @Hymie, I’m assuming you are under age 35. With a longer time horizon, you’ll see that cash historically paid about 3% returns with bonds averaging 5%. I’m not certain when, but if rates revert to the mean, you will be surprised at how your CD rates will rise.
    @The Firestarter-Long term, the stock market has averaged almost 9%. Although I expect going out average rates will be a bit lower. Of course, I don’t have a crystal ball and so only time will tell future interest rate levels.

    Barbara Friedberg

    February 21, 2014

  37. @Bryce, Thank you for the fixed savings account rate information. It’s so helpful to seek out higher interest rates, in such a low rate environment!!

    Barbara Friedberg

    February 21, 2014

  38. Anything is possible. One of my friends (not personal) won the mega-mill and is doing fine. It’s a good thing he played and won before he saw this article. He would never have tried. I play the lotto (only what I can afford) and have won small $5-$50. I spend about $10 a month off and on. Thank you for the article it was a nice read.


    March 16, 2015

    • Hi Trini, As you said, someone has to win…. Just like someone will get hit by a car or lightening. I’m not saying no one should play the lottery, but just understand the chances of hitting the jackpot are tiny and it’s rare to make back more than you put in. Thanks for your thoughts.

      Barbara Friedberg

      March 16, 2015

  39. Nice post, but I doubt that it is going to change someone. People who are gamblers are like drug addicts and they must play. People like me sometimes play Power ball, and that money I spend on lottery is not much, sometimes 3-4 months can pass that I am not playing. If you say any money is worth of savings I could say those few minutes of dreaming is totally worth money I spent.


    January 21, 2016

    • HI Sidney, I really like your honest perspective. If you look at buying an occasional lottery ticket like a few minutes of fun and fantasy for a few bucks, then it is money well spent. We all have our indulgences, whether it’s a vanilla latte or a visit to the nail salon. If buying a lottery ticket is yours, then why not!

      Barbara Friedberg

      January 21, 2016

  40. great post, I know that I must cut my spending on lottery tickets and that I am addict and hopeless dreamer,
    but it would be to big shock to stop at once, probably I will try to cut on half that is about 20$ per weak,that cold leave me nice money to invest.
    thanks for sharing

    Eva Rabinovic

    January 28, 2016

    • Hi Eva, Sounds like a sensible strategy. Cut back gradually on lottery tix and put that money in an investment account. You’ll definitely win with that strategy!

      Barbara Friedberg

      February 1, 2016

  41. I sort of agree, but here in NJ we have so many people that always hit Jersey cash 5 and win alot on the scratchers. So not sure I agree completely with this. They win more than the money they have put out; so have I

    Trevor Dyllan

    February 16, 2016

  42. What is your total return on amount played? For example if you played $100 and won $110, then your return would be 10%. Do you keep track? Logically, a lottery is to raise money, usually for a state, so if they paid out more than they took in, then it would cease to function.

    Barbara Friedberg

    February 17, 2016


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