5 Mistakes People Make When Playing the Lotto
August 01, 2018 9:03 AM
by David Cash
Playing the lotto can be a great pastime with the proper discipline and the right attitude. But many people have a half-hearted attitude towards the game and end up making mistakes that could cost them in the long run. Let’s take a look at some of the crucial mistakes people make when playing the lotto so you can improve your gameplay and overall experience.
Playing without a Steady Source of Income
I’m sure you may have heard the expression “playing with scared money” before. Well, that’s the last thing you want to do when playing the lotto. You’ll have much more fun playing the lottery when you can afford to bet for the fun of it. There’s no point in going broke trying to get rich. Get a steady source of income first, and make sure the lotto remains a pastime.
Not Keeping in Touch with Lottery News
If you’re serious about betting, then you should always try to stay informed on the latest lottery news in your area. Staying up to date on things like new games, jackpots, and special promotions is very important if you’re either a regular player or like to play when there’s a big jackpot on the line.
There are plenty of ways that you can stay up to date on the latest lotto news. Most lottos will have a newsletter that you can pick up at any retailer. These newsletters will usually have things such as new online and instant games, promos, winner stories and past winning and hot/cold numbers for instance.
Most lotteries will also have hotlines that you can call for information or customer service. Most often than not, they will not give you info on recent drawings, but they will give you information on things like where the lottery headquarters is located, where is the nearest claim centre or how to claim a prize for instance.
There are also various websites that will give you information on the latest lottery news and general info as well. For example, the site myLotto24 gives you general information on lotto betting, the Irish lotto, and even information on how to play US lotteries such as Powerball.
Poor Money Management
Having a steady source of income isn’t enough on its own. Poor money management can be just as bad as not having a steady stream of income and some people just don’t know how to control their spending habits. So, if you know you’re prone to mismanaging your money, you should think twice about playing the lottery.
However, that doesn’t mean that you can’t learn. Knowing how to budget is something everyone can learn and implement in their everyday lives. You just need discipline to follow through. One way you can control your lotto spending habits would be to add lottery to your entertainment budget. A good budget should always leave space for entertainment and without taking care of yourself from time to time, you are much more likely to go overboard and go on uncontrollable binges which will eventually bring you back to square one.
The amount of money you put aside for entertainment depends on a variety of things and some people might value entertainment more than others, but a good rule of thumb would be to allocate about 5% to 10% of your net monthly income on entertainment. Some people will advise that you allocate about 20% to 30% to nonessential expenses such as holidays, gifts, eating out, clothing and entertainment. But if you know that you’re struggling with money management, then you should stick with a strict entertainment only budget.
Don’t Look at the Lotto as a “Way Out”
Putting too much hope on the lottery will completely defeat the purpose of it. Remember that it’s a game, only one that could eventually pay off. So instead of putting all your eggs in the same basket, try to find a way to better yourself as well. This could be by attending a few specialised classes on your off time, learning a trade, skill or a business that could provide you with supplemental income. Playing the lotto is much more fun when you don’t depend on it.
Picking Numbers That Are Too Popular
Just because the lotto is a game of chance, doesn’t mean there isn’t a certain element of strategy involved. We’re not talking about systems on how to pick numbers here, since most of them have absolutely no science backing it up. But there are things you could do to prevent your winnings from being split in case you do win.
To avoid that, you have to avoid numbers that are too popular. One example would be to pick numbers according to a specific pattern on the slip. Some examples of popular patterns people use is checking the four corners and the centre, forming zigzag patterns or choosing a particular letter of the alphabet, like the letter M for instance. A lot of people do that to save themselves the trouble of choosing a number, but you’re risking the chance of picking the same exact pattern as tons of other people if you do this. Others will choose to play multiples, like 3, 6, 9, 12, 15 and 18 for instance. That’s also a bad idea if you want to avoid picking numbers that are too popular.
Another mistake people make is only playing when the jackpot is big. Sure, a huge jackpot can be enticing, but it will also increase the chances of someone else having the same number and splitting the winnings. Huge jackpots attract tons of people, even people who never played the lottery, so a big jackpot doesn’t necessarily you’ll get more money in your pocket in case you win.
The lotto can be a lot of fun when approached correctly and when you stick with a plan. Make sure that you steer away from these mistakes if you want to keep things fun and take your game to the next level.
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