Which lottery to play?

danlightbulb

danlightbulb

danlightbulb

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Me and girlfriend are going to start playing a lottery with a tenner each per month.

I want to play the one with the best EV. This will be the lottery that gives the most revenue into its prize fund.

The problem with many lotteries is the extract of revenue for good causes. If I wanted to donate to good causes I would do it separately. I play a lottery to give me a chance at winning, and I want to maximise this.

It might be hard to avoid this, as the national lottery will be the easiest one to join and pay regularly into automatically.

I already have some premium bonds but we want chance at bigger jackpots.

Anyone in any alternative lotteries?
 
200sols said:
Pretty much all online casinos have slots with jackpots e.g https://games.paddypower.com/c/jackpot-king

Its a mugs game though, at least a lottery helps people.
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I know it's a mugs game. My and gf just want a chance at it, life changing money etc, with a small amount each per month. Someone has to win.

I'll take a look at the odds of winning the jackpot on online slots but it's not an ideal solution because it can't be played passively (national lottery can pay be direct debt automatic recurring tickets, no effort needed).
 
Diddums said:
Because - and it sounds like this might be an alien concept to you - some folks actually like to help their fellow people.

And tax dodges ofc.
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There was no choice in the matter was there? National lottery was set up mid 90's with good causes part of the brief. If you had two equivalent schemes, one giving to good causes and one not, I would wager many people would choose the one giving better prize fund and odds.
 
Diddums said:
I'd rather they do support good causes, it's the only way we a a society are going to get selfish pricks to support those in their time of need ;)
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Tax already does that. 'Good causes' donations via lottery is essentially another stealth tax. If someone wants to donate to charity, they are free to do so. Why should playing the lottery be conditional on making a charity donation?
 
Diddums said:
So donating to charity is a "stealth tax" is it :cry:

It's quite simple really, their game, their terms. Don't like it? Don't play. Not exactly rocket science is it?
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It is if its a hidden element of something else. Why not apply a good causes donation onto chocolate bars, be the same principle wouldn't it?

Which is why I was asking about alternatives...point of the thread you see.
 
Diddums said:
And no, let's not try and reword your thread, you want to win money for yourself and **** everyone else, let's not beat around the bush shall we ;)
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Not trying to reword anything, Ive been very explicit that Im looking for whichever scheme has got the best return.

Think about it logically for a moment, if Im trying to win money, then I want to maximise the odds right? Why would it make sense for me to want to give to charity as part of that? If I wanted to give to charity, I would do so separately wouldn't I?
 
Kenai said:
You'd get more entertainment setting fire to a £10 note each month and your chances of winning a life changing jackpot will stay about the same :p
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About the same is not the same as exactly the same.

Its a bit like the powers that be saying that eating chocolate will increase my risk of death by 100% at my age. Yeah it will, by 1 in 100000 to 2 in 100000 (numbers made up to make the point, Ive no idea what they are).

People play lottery for a chance at life changing cash, we're not in it currently. So we will have an infinite percentage increase in the chance of winning by playing it.
 
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bainbridge said:
Well a tenner isn't that much money and if placed on the national lottery you're in with a chance, which is a better chance than not doing it, no matter how small that chance is.

Saying that, I do the lottery but am one of those people that never win anything.
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In almost all aspects the National Lottery would be perfect - its all online, direct debit, auto plays the tickets etc, well established.

But, the prize pool being only c.50% of the ticket price really puts me off. Its not just good causes according to wikipedia, there is a 12% government take as well.

Of all money spent on National Lottery games, around 53% goes to the prize fund and 25% to "good causes" as set out by Parliament (though some of this is considered by some to be a form of "stealth tax" levied to support the National Lottery Community Fund, a fund constituted to support public spending). 12% goes to the UK Government as lottery duty, 4% to retailers as commission, and a total of 5% to operator Camelot, with 4% to cover operating costs and 1% as profit.
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Maybe a jackpot slot is the way to go, will just need more effort each month for us to log in with our allocated cash and do the spins. Also Im gubbed from almost all bookies from my matched betting days. Would have to be much more discipline involved if doing the jackpot slot route, it would have to be treated like a lottery ticket - play the allocated amount and stop regardless of win or lose.
 
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