Hey guys I've been addicted to buying Lottery tickets for the past 2 months now. I've spent about 20-50$ a week on multimillions, powerball, scratch offs and texas lottery. I know my chances are 1 out of multi millions but just the thrill of potentially winning and become financially secure makes me excited. Although, I've spent a lot of money on it.. I was wondering if y'all had lottery strategies, stories, thoughts you'd like to share. Do you think you have a better chance picking the numbers yourself vs auto picking? Thoughts? Thanks.
I used to be against buying lottery tickets - the odds are astronomically low and you'd be better off betting everything on black several times on a roulette wheel. But then I learnt that state lotteries use the money earned decently well towards education. For instance, last year NY state lotteries contributed $3 billion or roughly 15% of NY state education funding. So if you are a gambling degenerate, might as well be contributing towards education in the process. Can't see how there would be a strategy. Historical frequency of winning numbers are always listed somewhere but any pattern should be just an anomaly in a fair system. I'd say buy the smaller lotteries, win a "small" pot and retire. You don't need to go for a 100M+ lottery that has many degrees worse of a chance to win. (or do you?... ballers gotta ball?)
I used to be like you, but now I'm more focus on the things in front of me so I tried to stop. However, I'm pretty sure one of these days I'll buy a lottery again. With that said, I'll share some of my lottery knowledges. According to statistics, it is better to use quick pick than to use your own random number. Also, I suggest that you set a limit on when to play lottery. For example, the cash value option has to be over $160 million in order for me to start playing. This way, I'll have a chance to get the amount I want to accrued. Finally, learn about the steps after winning the lottery. Realize that your cash value option will get tax on 40% rate or more. You can always claim your winnings anonymously either by the state law or claiming it via LLC or a trust. With that said, hire these guys --- Accountant, Lawyer, and Financial Advisor. Goodluck!
On my first ever $1 scratcher, I won the top prize of $1500, and within the next 10 scratchers I hit another couple hundred. Since ten, I'm sure I've given it all back lol.
Don't listen to the naysayers OP. You can't win if you don't play. Imagine if Michael Jordan or Kobe Bryant or Lebron James never picked up a basketball. They would have never won any championships.
There is no point. As far as I know you can't claim the lotto anonymously in texas. If you believe in capm just put it into an index fund, or if you are even more risk averse put them into Tbills. All those guys will do is take money from you.
Lottery should be played for fun and not for investment purposes they said. With that said you'll probably win a really big jackpot...... When you're like 80 years old and you're no longer able to pop a boner.
You CAN'T claim anonymously in Texas personally. But, if you set up a trust fund or a limited liability company using your lawyer as the claimant, that is the closest thing you'll ever get to claiming it anonymously. As I stated above, you can't claim it anonymously personally. But, there are other ways to claim it. The lawyer is needed to set your fund or LLC. While the accountant is needed for tax purposes. You can do away with the financial adviser. But, not everyone is financially literate. If you are, some advice can be good. But, take their advise with a grain of salt. Find out how they are paid and know how to budget your money! If all else fails, treasury notes and blue chip stocks are good low risk investments.
Used to be like you, but i just play mainly the Megamillion and Powerball now, and scratchers occasionally when i get the itch. I would tell you to quit, but that would be hypocritical of me lol. I haven't gotten lucky on the big prizes yet, but the place that i buy my tickets from have sold winning lotto tickets of $60k & $50k and winning scratcher tickets of up to $100k. Wish i was one of those lucky people
Of course, you cannot keep any of the money... you were TEN, you couldn't have played or it would have been illegal. Close to what, or whom? What pr0n movie were you watching?
