I need the experts to help me here.

Reply #17

JustMaybe — Tue, 08 Apr 2025 21:55:53 GMT

It is true that every option has its pros and cons.

I feel sometimes one needs to incorporate all of them at different times.

When the jackpots are a billion plus, we are all in with serious purchases.

When amounts are low, we hope around.

Bottom line is to keep it fun I guess.

Reply #16

JustMaybe — Tue, 08 Apr 2025 21:52:00 GMT

Thank you for your perspective.

As the current jackpots stand, I would not even spend the 500K a year from the annuity.

Spending 20K a month is so much for me to fathom.

I know there are people that can spend 100K a month on consumer goods and I respect that.

After all it's about choices and personal preferences.

Reply #15

JustMaybe — Tue, 08 Apr 2025 21:44:20 GMT

Thank you for your perspective.

I have in the past tried all approaches with varied results.

I have played everyday and not won a dime for weeks on end.

I have bought 10 tickets on one draw and won nothing.

I have played one ticket for 20 multi draws and won nothing.

However, like they say in investment finance - past performance is not indicative of future results.

I guess we keep on exploring

Reply #14

ethanl — Tue, 08 Apr 2025 14:10:37 GMT

Option 1: One QP ticket daily (different numbers each day)

Pros:

Maximizes number variety across the week.

Spreads your plays across 7 independent draws.

Gives you 7 chances to win smaller prizes or hit the jackpot.

Cons:

Requires daily action unless you automate it.

Probabilistic Note: You're covering 7 different number sets across 7 independent draws highest coverage of outcomes over the week.

Option 2: One QP ticket for a 7-day multi-draw (sam... [ More ]

Reply #13

KY Floyd — Tue, 08 Apr 2025 04:49:19 GMT

I actually feel the better approach is to look at the chances as opposed to probability

Perspective and semantics can turn it into a very long discussion, but they're (extremely close to) the same thing. Since the probability advantage of playing all of your chances on a single drawing is extremely small when the number of chances is extremely small relative to the possible combinations let's ignore it for a moment. Suppose you have the option to buy seven $1 tickets for a game with 70 mill... [ More ]

Reply #12

hypersoniq — Tue, 08 Apr 2025 03:16:27 GMT

Personally, I like option 2 the best. It is more convenient than option 1, and even if you have the same numbers for a week, they will be drawing different ones.

In my personal view, I don't like option 3 because you in no way significantly reduce the odds by playing 7 different combos for just one draw, and you miss 6 other draws. I have learned that with these jackpot games, one ticket is enough, and if I were to buy 2 for the same draw, am I not essentially betting against myself?

7 c... [ More ]

Reply #11

JustMaybe — Mon, 07 Apr 2025 21:40:18 GMT

I know that sounds like am contradicting myself, lol.

But honestly unless there is very valid reason as to why I should not take the annuity, for instance the annuity is not guaranteed, I would be more than happy to get the full payout after 30 years.

The only investment I can do with the initial payout would be in bonds.

So I could as well let them do that for me with the full cash amount

Reply #10

parlayman — Mon, 07 Apr 2025 09:34:11 GMT

For me the future is not assured, but if I win the jackpot, I may go with the annuity

LOLs

Reply #9

JustMaybe — Mon, 07 Apr 2025 01:10:23 GMT

I totally agree with you on this statement

how much a coffee jar investment fund would be worth and the final number was shocking.

Yes, the amount could be a lot, but sometimes we forget that this life is meant to be lived now.

It's unfortunate that so many people get trapped in the future.

Everything we do is for a certain time in the future. A future that is not guaranteed.

One never knows how long they will live, some die at 20 others at 40 and others at 90.

I don't... [ More ]

Reply #8

Stat$talker — Mon, 07 Apr 2025 00:16:32 GMT

The easiest part, which almost everyone agrees on, is that every combination has the same odds ,

It'z Falisophiez (falicy) like THAT, the sole reazon why the following 2 werdz xzist...

Possibility Probability contained btween 0 1. Leaning most to 1

-Stat$talker

Reply #7

parlayman — Sun, 06 Apr 2025 21:49:33 GMT

Good on you. Well done. I hope others will listen up and follow your lead. And yeah, your best chance of winning that lottery during the short amount of time we are allotted in this life is to play all at once.

I don't buy coffee, but I will also add that the daily cup of coffee does not jeopardize a person's retirement

To give you an idea what a numbers nut I am, I once ran a career spreadsheet on this question showing over 45 years (a standard working career at the time) how much a c... [ More ]

Reply #6

JustMaybe — Sun, 06 Apr 2025 21:16:13 GMT

Thank you for the feedback.

I actually feel the better approach is to look at the chances as opposed to probability since every number has the same probability of getting drawn.

Option 3 gives one more chances to win in one draw.

Reply #5

KY Floyd — Sun, 06 Apr 2025 18:47:00 GMT

The easiest part, which almost everyone agrees on, is that every combination has the same odds, so there's no functional difference between options 1 and 2.

The part that's simple, but somehow still confuses some people, is that option 3 will give you a very slightly better chance of winning once with the trade off of making it impossible to win twice. In a game where wining once means you're set for life what's the advantage of trading away a better chance of winning once for a virtually im... [ More ]

Reply #4

JustMaybe — Sun, 06 Apr 2025 15:16:56 GMT

I appreciate the advice and I have already done that.

I got tax advantaged retirement accounts, got self directed investment that are 100% high growth. I max out my HSA every year. Got multiple high yield savings account. I got exposure to local, international and emerging markets.

My day job is in investment finance.

With my financial background, playing the lottery is entertainment for me and not my retirement plan.

I don't buy coffee, but I will also add that the daily cup of... [ More ]

Reply #3

parlayman — Sun, 06 Apr 2025 13:29:22 GMT

Best play of all, I think, would be to forget about lottery. Open a tax-advantaged retirement account. When they ask what strategy you want, grab the slider and drag it all the way over to Aggressive Growth. Put your lottery money in there every week. Don't laugh. If you had done this in 2013 when I first joined this board, you would have a pretty decent supplementary retirement account now and you wouldn't even have needed to beat 30 million to one odds.

Reply #2

JustMaybe — Sun, 06 Apr 2025 02:50:07 GMT

Thank you for the link.

Looks like everyone went fishing at some point in the thread

Reply #1

jimjwright — Sun, 06 Apr 2025 01:28:16 GMT

This previous discussion might be helpful to you

https://www.lotterypost.com/thread/229884

I need the experts to help me here.

JustMaybe — Sun, 06 Apr 2025 00:41:02 GMT

This is for all the people that are good with probability.

Disclaimer: I do realize that every lottery draw is a random event and independent of previous draws.

Lucky for Life is a game that is available in 22 states and sells for $2 a play with draws everyday.

I need help with determining which is the best approach to play Lucky for Life.

I have three options listed below.

Option 1: Buying one QP ticket everyday - cost $14 a week. Every day I will be getting different number... [ More ]