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With the Mega Millions jackpot drawing reaching over one billion dollars, there are one billion reasons to buy a lottery ticket.
Lot's of people will tell you that playing the lottery is a waste of money.
Buying a lottery ticket can be a great use of money. Here's why:
But first a quick disclaimer: The lottery should be played for entertainment purposes only and never as an investment. Please only buy ONE ticket per drawing! Do not spend more than buying one ticket, and only buy a ticket if the $2 cost doesn't significantly impact your financial situation.
Lottery Tickets Don't Cost Much
Both the Mega Millions and Powerball cost $2 per ticket.
For the price of a hamburger, candy bar, or a cup of coffee, you can have a chance to win enough money to buy a small Hawaiian island.
What else can you spend $2 on that has a higher possibility of changing your life forever?
Provided that you only buy one ticket each drawing, lottery tickets are a tiny sum with a huge potential payoff.
There are lots of ways to waste money that don't give you an opportunity to win millions.
So You're Saying That There's a Chance
The detractors will point out that you are more likely to be struck by lightning (1 in 1 Million), be attacked by a shark (1 in 11.5 Million), or be killed by a vending machine (1 in 112 Million), than you are to win the lottery (1 in 300 Million).
To them, I reply boooooooooo!
Yes, there is a small chance, but there is still a chance!
Also, those odds only apply to the jackpot. There are lots of other meaningful prizes that you could win.
Here are the odds for Mega Millions and Powerball.
Odds to Win Mega Millions
- $2 (1 in 36.6)
- $4 (1 in 89.4)
- $10 (1 in 693)
- $200 (1 in 14.5 Thousand)
- $500 (1 in 38.8 Thousand)
- $10,000 (1 in 931 Thousand)
- $1,000,000 (1 in 12.6 Million)
- Jackpot (1 in 303 Million)
For official odds and rules visit the Mega Millions website.
Odds to Win Powerball
- $4 (1 in 38.3)
- $4 (1 in 92)
- $7 (1 in 701)
- $7 (1 in 580)
- $100 (1 in 14.5 Thousand)
- $100 (1 in 36.5 Thousand)
- $50,000 (1 in 913 Thousand)
- $1,000,000 (1 in 11.7 Million)
- Jackpot (1 in 292 Million)
For official odds and rules visit the Powerball Website.
While the probability of being struck by lightning, attacked by a shark, or killed by a vending machine might be higher than winning the lottery, those odds don't keep you from hiking, swimming, or buying snacks.
It's just as unlikely that you will win the jackpot for Mega Millions or Powerball, but there is a 1 in 24 chance that you will win a prize.
So go ahead and buy a lotto ticket.
Dare to Dream
Buying a lottery ticket allows us to dream.
What would you do if you won the jackpot?
- Would you quit your job?
- Pay off all your debt?
- Where would you travel?
- Which charities would you give to?
- What family members or friends would you help?
Imagining winning the lottery is basically dreaming of what we would do with an endless supply of money. If money was not a concern, what could be possible in your life?
Take Action Today
You don't have to wait to win the lottery in order to start your dreams.
Take the time to imagine what your life would be like without money as a barrier. Use dreaming to prioritize your goals.
What is important to you and how can you act on it today? Think about the questions from earlier.
- Would you quit your job? Think about what work that you would want to continue even if you had a bazillion dollars. How can you do that work today?
- Pay off all your debt? If living debt free is the dream today, start to make it a reality. Learn how to get out of debt and take the first steps now.
- Where would you travel? Make a bucket list of ultimate travel locations. Pick the top one and start saving to visit.
- Which charities would you give to? Charities need time as much as money. Consider volunteering to help the organizations that you were going to donate to.
- What family members or friends would you help? How can you help the people you care about most without giving them a million dollars? Some ideas might be cooking them a meal, assisting in projects around their house, or watching their kids for date night.
You don't have to win the lottery to make a difference in other peoples' lives, and you don't have to win to make a difference in your own.
You just have to play.
Play at life. Buy a ticket, dream, and take action.
All it takes is $2.
So, what would you do if you won the Mega Millions or Powerball jackpot? Feel free to add your dreams in the comments below.