Should You Follow These 3 Tips From Seven-Time Lottery Winner?
It is common knowledge that everyone has very low chances of winning the jackpot and that these chances do not improve no matter how high the jackpot goes.
Seven-time lottery game-winner, Richard Lustig, highlights three things he believed one can do to raise their chances of winning the lottery.
He says"The three things you can do to increase your chances of winning a lottery game is to pick your own numbers and stick with them every time; set a budget, and never spend rent or grocery money to play a lottery game.”
The seven-time winner who comes from Florida racked up more than $1 million in jackpots between the years 1993-2010. Then he wrote a book discussing his lottery winning strategies. Of course, his book was an instant bestseller. It got to the number three spot on Amazon's list of best-selling self-help books and the author got featured on popular media outlets at the time.
A list of Lustig’s winnings published on Lottery Critic shows that he won a total of $1,052,205.58 before taxes.
|Jan 1993||$10,000||Scratch-off Ticket|
|Aug 1997||$13,696.03||Florida Fantasy Five|
|Jun 2000||“Wheel of Fortune” trip to Los Angeles, valued at $3,594.66||Scratch-off Ticket 2nd Chance Redrawing|
|Oct 2001||“Elvis Holiday” trip to Memphis, valued at $4,966||Scratch-off Ticket 2nd Chance Redrawing|
|Jan 2002||$842,152.91||Florida Mega Money|
|Nov 2008||$73,658.06||Florida Fantasy 5|
|Aug 2010||$98,992.92||Florida Fantasy 5|
Forbes Magazine analyzed the tips shared by Lustig in his book, to see which of the tips seem practical in the real world and which ones just would not work.
Tip number one says to pick your own numbers and stick with them every time. Forbes has dismissed this tip as being mathematically incorrect. Every number has an equal chance of winning the Powerball or Mega Millions because they are based on random drawings. There is really no need searching for any special numbers as every number has an equal chance of being picked, no matter how they are picked.
Tip number two says to set a budget. The article on Forbes notes that this tip has nothing to do with increasing your chances of winning the lottery but is nonetheless practical advice to avoid bankruptcy which could happen if you bet all your money on the lottery.
Tip number three says never to spend rent or grocery money to play a lottery game. Just like tip number two, this is another prudent adviceto avoid bankruptcy but it has nothing to do with increasing your chances of winning the lottery. Based on the above,PanosMourdoukoutas writing for Forbes says “Simply put, Lustig’s tips are either mathematically wrong or irrelevant to the question at hand.”
There are rumours that Lustig has spent a lotof his lottery winnings playing the lottery. Therefore if anyone is out there looking for possible ways to improve their chances of winning the lottery, relying on Lustig’s three tips might not be a very good idea.