Have you ever caught yourself fantasizing about winning a huge lottery? This has become a reality for some lucky winners – with the biggest win of $1.584bn being won in January 2016. Imagine winning $1.5 billion?! Oh, the things we’d do with all that money!
Is there a science behind choosing powerball winning numbers or is it purely random? Do certain numbers appear more frequently than others?
Let’s jump into the world of Powerball to see if there’s a way to increase your winning chances.
According to research, your overall odds of winning the jackpot is 1 in 25. Good odds, you think. But, and this is a big but – and this is a big but – if you want to get 5 numbers and the powerball correct to win the jackpot, your odds of winning go from 1 in 25 to an astronomical 1 in 292,201,338.
The odds may be stacked against you but they’re not zero. Anything that has a positive number, albeit very small, has the potential to make you a multi-millionaire. Or a billionaire!
When doing research, a lot of people check the frequency and position of numbers over some time. There are quite a few internet searches that you can do to see the frequency of numbers if you’re feeling scientific.
The truth is, every number has the same chance of being picked as the next. Hot or cold numbers might not make a difference in your winning strategy.
Lottery tickets aren’t expensive and if they pay off, could be the best small-dollar investment you ever make. We don’t like building our financial future on a “what if” scenario, however. What if we win the lottery? Great! What if we don’t? That doesn’t make a difference at all.
Powerball and state lotteries have indeed created many millionaires in the past. The people who got the winning numbers were very fortunate. Many of them didn’t have any financial security and the lottery gave them the ability to have a good future.
Of course, it’s your money and you can do with it what you want. We like playing the lottery – but we don’t bank on that as our “investment” strategy.
The Powerball odds don’t count in your favor, unfortunately. It is, as the adage says, luck of the draw. Doing research on numbers and their frequency, or seeing which numbers are “hot” or “cold” to determine which numbers you choose doesn’t make a difference. The numbers are entirely random and there isn’t an exact science behind it.
Lotteries and Powerball should also not be seen as an investment. Investment implies there is a return. There might be a return on your €3.50 lottery investment, but there might not.
No, we suggest you choose any random numbers and play Powerball as much as you want (without getting yourself into financial troubles because of it, of course) but build your financial security in the process.
So, what’s the key ingredient and sound strategy to being a big lottery winner?