Does lottery betting work?
Lotteries have been around for decades and although bookmakers are a more recent invention, both enjoy just as much attention and enthusiasm. It was only natural for the bookies to make the step further and contemplate the benefits and shortcomings of lottery betting. In the end, it looks like the pros outshine the cons and with this type of betting gaining a lot of traction, the true question is whether this kind of gambling is also profitable for players. Find out whether there is more than meets the eye about the game and get an inside look at the characteristics of this brand-new branch of gambling.
Advantages of lottery betting
The most important thing that players need to know is that lottery betting provides better odds of winning a prize, and bookmakers place the emphasis on this issue. They invite players to indicate four, three and even a single number out of those that will be drawn in the next lottery. Official results are used, so there is no way of deceiving players regardless of what type of lottery they choose to bet on. The odds of matching three numbers are usually one in a few hundreds, compared to one in 10 with most lotteries.
At a first glance it might seem like it is better to resort to lottery betting instead of purchasing tickets, but this is only an illusion. Although the potential payouts are better for lower tier prizes, the chance of winning are not actually as good as they seem. The reason is that when you are resorting to lottery betting you only indicate three or four numbers, whereas when you play the lottery you pick six numbers. The bottom line is that while the bookmakers still offer slightly better payouts for matching a few numbers, you are still a huge underdog.
Shortcomings of lottery betting
The payouts for low tier prizes might be better with the bookmakers, but lottery betting will not make you a millionaire even if you correctly predict all the numbers. There is an indissoluble link between the wager and the return on investment, and those who stick to the minimum amount can only hope to win a few hundred dollars. The lottery can remain a dream for most of the players, but at least those who actually win by matching all the numbers are guaranteed to become rich overnight
Another downside is closely related to the aforementioned issue, as lottery betting can turn into addiction much easier than the regular game. Very few players purchase so many lottery tickets that it gets hurt their finances, but when it comes to lottery betting it is very easy to fall off the wagon. The same rules apply as to sports betting, so those who are not in complete control of their actions are more likely to succumb to addiction.
Check out The benefits of using mobile lottery applications right now.
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April 2, 2013 | by Jonathan White |