Record-breaking multi-million dollar jackpots send lottery fans worldwide scurrying to purchase tickets for the next exciting draw. But is playing lotteries with the biggest jackpots the best way to make one’s dreams of striking it rich come true? What is the best lottery game? Here are some things you should consider when buying your tickets.
Which Lotteries Have the Biggest Jackpots?
The record for the biggest lottery jackpot was set in January 2016 when the Powerball hit $1.58 billion, an amazing prize that was split between three winning tickets. Each of those tickets was awarded a lump sum payment of $327.8 million. This jackpot prize shattered the previous record set by Mega Millions in March 2012, when that lottery’s jackpot reached $656 million. That prize was also split three ways. Each winning ticket was worth $158 million.
Seeing that the top ten lottery jackpots of all time have been set by two American lotteries – US Powerball and US Mega Millions– leads to an initial conclusion that these are the best lotteries to play. Their enormous jackpots, as well as their massive prize pools, attract not only huge publicity but also large throngs of players. Over 600 million tickets were sold for the drawing when the record Powerball jackpot fell. With that amount of competition, one could possibly conclude the only barrier to winning a huge jackpot prize is buying a Powerball ticket.
Lotteries and Jackpot Odds
The odds of winning the Powerball jackpot are one in 292 million. Before the Powerball introduced a rule change in October 2015, the odds were one in 175 million. Lottery officials quite obviously realize that with reduced odds, there is less chance of winning and this creates larger jackpots. This in turn increases ticket sales. But, are the Powerball jackpot odds the best in the lottery field?
Mega Millions, in comparison, offers one in 258.9 million odds of winning the jackpot, not much of a difference. The odds of winning the EuroMillions jackpot are one in 139.8 million while the odds of winning EuroJackpot’s top prize are slightly better – one in 95 million.
Small lotteries can be candidates for the best lottery games as well. Even though the jackpots may be smaller, the odds of winning them are better. The odds to win the Australia Powerball jackpot are one in 76.7 million; the odds in the California SuperLotto Plus are one in 41.4 million; the odds in the Spain La Primitiva lottery are one in 13.9 million; and the odds in the Sweden Lotto are better yet – one in 6.7 million. With lower jackpot odds there is less of a chance that a jackpot will go unclaimed for long.
The worst jackpot odds? Quite possibly the Italian SuperEnalotto, where you must pick six numbers out of 90. The odds of winning this lottery’s jackpot are one in 622 million. Yet a €163 million jackpot was won in October 2016, proving that even with overwhelming odds stacked against you, it is possible to win an amazing jackpot prize.
Which Lotteries Have the Best Overall Prize Odds?
Winning a jackpot is not the only way to win a lottery prize. There are many secondary prizes up for grabs as well. Which lottery offers the best chance to win a non-jackpot prize?
The odds of winning a 6th division prize in SuperEnalotto are one in 22; the odds of winning a 12th division Match 2 prize in EuroMillions are one in 21; the Mega Millions 9th division prize odds are also 1 in 21; while in Powerball, the odds of winning a 9th division prize are a bit harder: one in 38.
What about smaller lotteries? The odds of winning an 8th division prize in the France Loto are one in 16; the odds of winning a prize in the Austria Lotto are also one in 16; while the odds of winning a 6th division prize in the U.K. Lotto are one in 10. But as lottery players know, the easier the odds, the lower the prize.
As for prize pool size, there is nothing that can compete with the Spanish Loteria de Navidad – El Gordo. This annual Christmas season raffle offers a staggering €2.31 billion in prizes. The odds for winning a Navidad prize are very attractive: 1 in 7.
Which Lotteries Have the Lowest Taxes?
There are many tax-free lottery games around the globe. Prizes in Australia, Canada, France, New Zealand, South Africa, and the UK, among other countries, are paid out tax-free at source, however winning players may be subject to local taxation based on their country of residence. It would be wise to check these matters with a tax professional when you win.
So, Which Is the Best Lottery Game to Play?
There are a number of factors to consider when playing the lottery, including the odds, the jackpot prizes, the price of tickets, and the taxes. It is often difficult to make an informed decision. Luckily, theLotter provides a unique lottery category called theSmart, which takes all of these elements into consideration to determine the best cost-benefit ratio of the top lotteries.
Take for example the Australia Saturday Lotto, the Spain BonoLoto, and the Oregon Megabucks. These three lotteries, which frequently appear at the top of theSmart’s list, may not offer the highest jackpots or the best winning odds, yet playing them gives players the best run for their money. By subscribing to theSmart, players can ensure that they play the lotteries with the top cost-benefit ratios in the world twice a week.
One additional thing to consider. Winning a lottery prize is most certainly a matter of luck and many players go with their gut in choosing both the lottery they’ll play and the numbers they’ll select. It is more than likely that the best lottery games to play are different for everyone. The best advice, therefore, would be to play the lotteries which appear to be luckiest for you.