The chance of being struck by lightning is greater than winning the jackpot.
When it comes to Toto, people always give the example that the chance of being struck by lightning is greater (1 in 1,190,000) than winning the jackpot, which is quite true.
But let’s see what your chances are of winning at least something in the lottery. The chance of guessing 3 numbers is 1 to 57, which doesn’t seem very encouraging, does it? With its 50%, Toto is the game with the highest expected negative return. This is due to the fact that only half of the players’ bets go to the prize pool. So getting rich from the lottery is possible, but not likely.
LOTTERY TICKETS
They are everywhere. The only thing it can compare to is a national epidemic. You can see them at the gas station, in the supermarket or while paying your bills. It’s easy – you buy a ticket with an average price of BGN 3, delete it and see what the profit is.
What are your chances of winning something? It is different for each lottery, but let’s say that the chances of winning the grand prize in most are about 1 in 1,900,000.
If we are talking about at least some cash prize, kiss918 download then the chances are about 1 in 4. Of course, it’s about winning something that would only cover the price of the ticket itself, making you try your luck again.
The average expected negative return on lottery tickets is one of the largest and is about 38%.
These games will not make you rich either, they will only give you vain hopes for future winnings and another excuse to try again.
CASINO
The Wall Street Journal analyzed data on the behavior of thousands of Internet gamblers. They concluded that 90% of online casino revenue comes from only 10% of their customers, and that the more often you play, the greater your chance of losing.
They also found that the ratio of winners to losers of more than $ 5,000 in 2 years is 1 to 31. Even in “better” casinos, the negative return can range from 10% for smaller bets to 1% for the larger ones.
As a tip, if you win something bigger than your initial bet, stop, take it and leave the casino. There will always be a next time to try your luck, there is no need to risk losing what you have won.
POKER AND BLACKJACK
There are two games of chance where the return can be positive or at least neutral. One of them is poker, where you don’t play against the casino, but against other people like you. The other game is blackjack, where you can take advantage of the casino by counting the cards and betting only larger amounts at the right times.
But even with these two games, the casino takes its small share, called rake. “Rake” is the amount that is set aside as a percentage of each pot for the casino. This will actually make your return negative.
If you want to start winning these games, you will need to gain certain skills, but even then you will have to rely on luck.
BOOKMAKERS / SPORTS BETS
Like all other games of chance, sports betting also has a negative return. Bookmakers also want to make a profit, which ensures that most gamblers will not make a profit in the long run.
The tool they use is called “overround” and is a profit margin for bookmakers. This is an additional margin that is added to the odds, so that in the end, when all bets are collected from all bettors, say 103 units, only part of them (100 units) are paid out to the winners and the rest of 3 units. remains for the bookmaker in the form of a profit.
Bookmakers change their odds depending on the number of bets for an event so that they get a balance between the different bets and thus ensure the presence of “overround”. Usually the percentage margin varies between 2% and 7%.
TO BET OR NOT TO BET
The examples above illustrate that if you want to get rich from gambling, you have only one sure option and that is to open a casino or organize lotteries.
If you do not have such plans, it would be wiser to save your money and try to invest it in something that brings a small but far more secure return.
Look at gambling not as a way to earn extra income or get rich, but as entertainment, a thrill, or just as entertainment that has a price to pay.
Here are some suggestions that would help you enjoy it more, but within reasonable limits:
You have to have the ability to stop the game and just leave before things get out of hand and you start to regret it. If you often lose self-control – you better not start.
What applies to other unhealthy things in life, applies here – use it in moderation. Bet rarely, small amounts and just for fun, so that in the end, if you win, you will be happy, and if you lose, you will not regret it.
Determine the amount you plan to spend. This way you will not take from the funds you need for other things. The worst thing you can do is take a debit or credit card with you when you go betting.
If you decide to bet, the first and most important rule is to get acquainted with the rules of the game, to see what prizes you can win, what your chances are, and if you win, how your prize will be paid, etc.
Play with friends by betting small amounts of poker or bet on sporting events. This would limit the negative return. The idea here is not to get rich from your friends, but simply to add a small bet to the game that would make it more interesting and challenging. In order for everyone to be happy in the end, the winner should do something with his prize for his not so lucky friends or colleagues, such as treat them one by one or take something useful for everyday life in the office.