If you win a lottery jackpot, there's a chance you might have to split the payout with other people who picked the same numbers. All things being equal in that all numbers are equally likely to be picked , you might as well try to select rarer numbers to improve your odds of keeping more of the pot for yourself. So how do you know which numbers are rare? Some people try to use statistics to find out which numbers are chosen least often.
Others look at combinations that other people tend to avoid, like consecutive numbers. The first 31 numbers are more often selected by people who use special dates like birthdays to pick their numbers. Using a lottery app might help you select and remember numbers to play. Unfortunately, many scammers try to take advantage of people's dreams of winning the lottery.
Here are a few tips to protect yourself and avoid lottery scams:. Actively scan device characteristics for identification. Use precise geolocation data. Select personalised content.
Create a personalised content profile. Measure ad performance. Select basic ads. Create a personalised ads profile. Select personalised ads. Apply market research to generate audience insights. Measure content performance.
Develop and improve products. List of Partners vendors. Sandra Grauschopf. Bank, and Barclaycard, among others. By Brian Martucci. Manage Money. Top 20 Most Fuel-Efficient Cars of Jump to. Stay financially healthy with our weekly newsletter. Brian Martucci. Brian Martucci writes about credit cards, banking, insurance, travel, and more. When he's not investigating time- and money-saving strategies for Money Crashers readers, you can find him exploring his favorite trails or sampling a new cuisine.
Discover More. Save Money. Federal Debt? Related topics. See more questions. The wealthier you are, the higher your income tax bracket, and the more you stand to save by itemizing your tax deductions , including mortgage interest a big deductible expense for most taxpayers who itemize.
Even millionaires run into financial problems. Setting up a healthy emergency fund or adding to an existing one is one of the first things you should do with your winnings. A good rule of thumb is to set aside enough to pay for six months of expenses, bearing in mind your expenses will likely increase as your standard of living does a phenomenon known as lifestyle inflation. Next, allocate a percentage of your winnings to tax-advantaged retirement accounts.
Morgan Investing. IRS rules prohibit Roth IRA contributions for higher-income individuals, so a hefty lottery annuity will likely disqualify you from contributing to that particular type of account. You can even invest in nontraditional assets like fine art Masterworks sells fractional shares , wine through a company like Vinovest , and cryptocurrencies. But be sure to discuss the potential risks with your investment advisor. Connect your plan to your CollegeBacker account to encourage friends and family members to chip in too.
When you give to a qualified charity and itemize your income tax deductions, your donations could have tax benefits as well. Some will be legitimate and compelling — others, not so much.
Otherwise, other people could drain your winnings before you realize what happened. Even if you win, you might end up having to share the prize with them. Pick different numbers without following a pattern. Instead, come up with a range of numbers you like.
Mix up your ticket with both odd and even numbers. Although the winning numbers could be all odd, for instance, it is unlikely. Play the same numbers every time you buy a ticket. The odds of you predicting the winning numbers in a game is very low. Instead, stick to the same numbers in case they show up. Number combinations that were picked in the past are unlikely to come up again. There are too many possible combinations to make this a guarantee, however.
Each drawing is its own random event. With a quick pick, the lottery machine selects numbers for you. It has as much of a chance of winning a single drawing as a ticket you picked yourself. Randomly picking numbers that match randomly-picked winning numbers is extra unlikely. These numbers are also harder to remember than ones you play all the time. Method 2. All you need is a single ticket to play. While you can always buy more, the extra tickets often do not increase your odds of winning by a significant amount.
The biggest lotteries have the ability to print an unlimited number of tickets for every possible number combination. Play weekly if you have money to set aside for a ticket. Since winning is all about luck, increase your chances by getting in the game as often as possible.
Many lotteries have a drawing each week. Purchase a ticket before each new drawing in order to give yourself a shot at the jackpot. If you really want to win, play as often as you can. Having patience and dedication helps. Join a lottery pool to purchase multiple tickets as a group. Organize a group at your office, school, church, or anywhere else you can find people willing to play. In a pool, everyone who joins agrees to buy at least one ticket. If someone wins, they split the money evenly with everyone else in the pool.
Depending on how many people join the pool, you could accumulate a bunch of tickets without shelling out a lot of your own money. Make sure someone trustworthy handles the money and tickets. Keep a photocopy of your ticket and receipt to ensure you have proof in case you win.
Play less often if you wish to chase a big jackpot. Instead of getting a ticket for every single drawing, save up to play for the big prize. That way, you get to have fun without spending more than you normally would. The extra tickets bump up your chances of winning very slightly. Many lotteries, including big ones like Powerball, have a cumulative jackpot that gets bigger when no one wins. For the best chance of winning money, do this for a smaller game such as a state pick With bigger games like EuroMillions, your odds will still be very low.
Method 3. Invest in smaller lottery games with less numbers to choose from. These games often have better odds and are more likely to pay out. Look for games that pick from a smaller set of numbers or fewer balls.
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