How to Win Sweepstakes Prizes (click here)

Lottery Tickets vs Sweepstakes & Contests: a Comparison


Lottery Lottery tickets, also loosely known as "lotto tickets," have become everyman's gleam of hope on the cloudiest day. Whoever you are, it can happen to you. But as you await the latest lottery results, keep your day job.

The jackpots of multi-region lotteries are enormous, but so are the odds. The lottery odds for three of the best-known games at the time of this writing are: Powerball (USA) Jackpot 5+1 - 1 in 175,223,510; MegaMillions (USA) Jackpot 5+1 - 1 in 175,711,536; EuroMillions (Europe) Jackpot 5+2 - 1 in 76,275,360. Of course, the scratch-off lottery tickets offer smaller prizes, but vastly better odds (prank winning scratch-off tickets are a riot, but don't trick anyone who's in real difficulty).

People try to devise all kinds of systems for winning the lottery (which the lottery organizers try to make sure won't work). Though people want to know how to win the lottery, so far the only way is to buy as many number combinations as possible, and perhaps join a lottery pool. And there's no conclusive evidence whether it's best to go quick pick or select your own numbers. When lottery jackpots surge over $200 million, some will withdraw thousands from their bank account to buy as many lottery tickets as possible -- with the "thinkers" putting their calculators and computers to work. With this kind of jackpot, the whole affair becomes a news event, as people line up at grocers, gas stations and liquor stores to buy at least one shot at financial immortality. For those standing in these lines hoping for the winning lottery numbers, it's almost like a shared spiritual event.

How to Win Sweepstakes Prizes (click here)

Even the "small" lottery jackpots of $10 million keep people coming back to buy lottery tickets online or in person. A winning lottery ticket changes your life immediately -- sometimes in ways you don't like. A popular movie, "Lottery Ticket," offered vivid examples. And there are numerous stories of lottery winners ending up bankrupt and ruined because of their winning lottery ticket -- or susequent decisions they later regretted.

As for sweepstakes odds, these are far better, though the prizes are smaller. At the local level, your odds improve drastically (some people are e-addicts, and refuse to fill out an entry form to drop in the box, which means less competition for you).

What's the difference between sweepstakes and lotteries? A legitimate sweepstakes does not require the output of money, whereas lotteries (or any form of gambling) do. The line between sweepstakes and gambling is now being blurred by the internet. There are technology-based "investment" and "sweepstakes" arrangements which feel like gambling operations, because you pay out money in the hope of multiplying your money. Unlike traditional investment opportunities involving extensive research, strategizing and so forth, this new breed of "investor opportunities" has a short timeframe (sometimes of just a few hours), is win/lose based, and even has a screen design similar to an online slot machine. Real-world "sweepstakes" cafes and parlors are also spreading, and local governments are trying to determine their legal status.

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Lotteries vs sweepstakes and contests -- a comparison of costs: Let's say there's a lottery (or "lotto") with two drawings a week, and the ticket price is one dollar. Buying one chance for each draw breaks down like so: 52 weeks x 2 drawings x $1 = $104 per year. How you view that is a matter of opinion: "$104 is a lot, but that's only $2 per week," or "$2 per week may not seem like much, but that adds up to $104 a year." It's all how you look at it. For contests, you have to show you're the best at something, and may need to purchase materials, etc for your entry. As for sweepstakes, even though they aren't offering hundreds of millions as some lottery tickets do, you can enter for free as many as you like, as often as permitted, and your yearly cost is $0. So go for that million, car, house or vacation -- you've got nothing to lose and everything to gain -- just be ready for the taxes. Good luck, and win, win, win!



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