How to increase your chances of winning the lottery

 How to increase your odds of winning the lottery

Powerball jackpot now at $575 million, lottery hopefuls will be asking how they can improve their chances of winning.

One ticket per 49-ball, 6-number lottery draw gives you a 1:13983,816 chance at winning. Jan Kovac, Casino Guru's CEO, stated to FOX Business the chances of winning a lottery jackpot are low but not impossible.

Kovac explained that lotteries are fixed odds. This means that any ticket can win the jackpot regardless of what number you choose. There are some things that you can do statistically to make it better.

These are three ways lottery players can increase their chances to win.

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1. Purchase more tickets

Buying more tickets can increase your chances to win," Kovac explained. You have a 10-fold better chance of winning if 10 tickets are purchased instead of one. Gambling can be dangerous, so I don't advise anyone to do this. It is important that you carefully consider your options.

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2. Time your bets

Kovac explained that you can increase your long term expected value by placing the right bets at the right times. "Lotteries have often had jackpots that increase over time while the chances for winning remain the exact same. Thus, betting on high jackpots is mathematically more profitable than betting when they are low, even though there is still a chance of winning.

3. Go after smaller jackpots

Kovac said that some lotteries have higher chances than others. Each lottery has its own chance at winning the jackpot. The higher the jackpot, the greater your chance of hitting it. This is the general rule. How To Win Lotteries - Secrets To Bigger Lottery Prize Wins