Top Lottery Games and Odds of Winning Explained
So you are curious too as to which lottery should you play to win? Who does not dream of winning the lottery, retiring peacefully and riding off into the sunset with their friends and loved ones? But is it that easy? For the majority of the people, it remains forever just that – a dream. In fact, the lottery in the form of gambling with the highest risk involved with the lowest level of strategy, but it remains the most popular due to the enormous, life-changing amount of money that can be won.
When playing a lottery, one of the first things you’ll see is what are the odds of winning? Here, I have rounded up some of the most popular lottery games around the world and the odds of winning top prizes.
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Which Lottery Should you Play to Win?
EuroMillions, being operated by Camelot, have the odds of winning the top prize for longer at about 116.5 million to one, making it one of the toughest lottery games to win. Whereas the possibilities of taking home the second biggest prize are much better than the respective prize in the UK game and players have about a one in 13 possibilities of winning any prize. If you want to test the waters, you can visit a top-notch lottery concierge and start playing your favourite numbers from almost any place in the world.
2. Irish Lotto
The Irish Lotto is known for having a great ratio of jackpot size to odds of winning. Here the minimum jackpot is €2 million (around £1.4 million normally) and the odds of winning are around 10.7 million to one, much lower than most of the other big lottery games. Although the odds of winning any prize are not that great (72/1), if are looking for pure jackpots, Ireland’s lottery game is a better bet than many.
3. The National Lottery
The UK National Lottery features various games, but Lotto is the primary one. Camelot, the company that runs the National Lottery, made significant changes to the Lotto game in 2015 which influenced the odds of winning. It added then new numbers to the draw, thus reducing the chances of winning one of the big prizes have now become slimmer.
The odds of all six matching numbers increased from 14 million to one to about one in 45 million. There is one more UK lottery that offers greater odds and if you are ready to accept much lower prices, the Health Lottery is worth playing. The top prize for matching all five numbers is in the range of £25-£100,000 as per the number of tickets, where you can even win at around one in two million.
4. Mini Lotto
This is a little-known Polish game offering the best jackpot odds around. Mini Lotto is the miniature of Poland’s main Lotto draw and the jackpots are not huge, which is usually around £50,000. But the odds of winning are far greater in this lottery game at one in 850,600. The most surprising fact is, it only costs 25p for a ticket, so you can say it is the cheapest lottery. Every six days a week the draws take place.
5. French Loto
The French Loto is known to offers the best odds of winning which is 1 in 6. It is great for regular players as it is not going to cost too much money. The prizes below the top two tiers are quite paltry. The minimum jackpot is €2 million, which rolls over by another million every time it’s not won. The odds of winning this are around one in every 19 million.
Frankly speaking, the lotteries with the biggest jackpots have the longest odds of winning, which is quite understood as many people play them. So my suggestion is to stay away from the popular ones like EuroMillions, the National Lottery and the US Powerball and instead search for alternatives that offer smaller jackpots but much with higher chances of winning.
Can I play lotteries from other countries online in Canada?
Yes, you can play lotteries from other countries online in Canada. With the advancements in technology, you can play lotteries from anywhere in the world through online lottery services. These services allow you to purchase lottery tickets from other countries without having to physically be there. Some online lottery services even offer a concierge service that purchases the tickets for you on your behalf.
Do lottery winnings need to be taxed in Canada?
Yes, lottery winnings in Canada are taxable. The amount of tax you need to pay depends on the size of your winnings and your province of residence. In general, the federal government takes a 25% tax on all lottery prizes over $5,000, and some provinces have their own taxes on top of that. However, there are some exemptions and deductions available that can help reduce your tax liability, so it’s best to consult with a tax professional for advice.
Are the odds of winning the lottery better if I buy more tickets?
Buying more lottery tickets does increase your chances of winning, but only slightly. The odds of winning are still very low, and the cost of buying multiple tickets can quickly add up.