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Price Versus Odds: The Biggest Lotteries Compared

Playing the lottery can be pretty exciting. Even though the odds of winning big might not be in your favour, that old adage rings true: you have to be in it to win it. While most of us know we won’t be walking away with the jackpot, someone has to have that golden ticket, and it’s as likely to be you as anyone else.

That’s why so many of us join in. An article published in 2018 shows that 70 percent of UK adults take part in the National Lottery on a regular basis. That number equates to almost 45 million people, which shows just how popular it is.

However, not everyone realises how many different options are out there for those who want to play. More importantly, most of us are oblivious to the fact that some lotteries have much better odds than others. That’s why we created this article. Here, we take a look at how the biggest lotteries compare.

The National Lottery

If we’re talking about the UK’s biggest lotteries, the National Lottery naturally takes the top spot. As we mentioned above, around 70 percent of the population – or 45 million people – take part regularly. So, what are the odds of one of them winning?

According to this article from Metro, which takes its odds directly from the National Lottery website, the likelihood of winning the Lotto jackpot is roughly one in 45 million. Those chances are pretty slim, yet a whopping 5,900 millionaires have been created since its launch in 1994.

Now let’s consider how much you pay for your one in 45 million chance. The price you’ll be charged is a cool £2, which compares to the below lotteries in the following ways…

The EuroMillions

The National Lottery is immensely popular, but so too is the EuroMillions. Between 80 to 100 million individuals buy a ticket for the draw every week. Jackpots can be as high as £180 million, meaning there are some truly life-changing sums up for grabs.

The prizes are higher, and naturally, this means ticket prices are too. These are sold for £2.50 each, which seems like a fair price hike at first glance. However, while you can win more, you’re also a lot more likely to lose when playing the EuroMillions.

The odds of actually winning the jackpot are astonishingly slim: one in 139.8 million. This means you’re laying out more money for a lower likelihood of taking home the prize. Whether the increased jackpot makes up for this depends on your personal opinion.

The Irish Lotto

If you want the best chance of taking home the jackpot, take a look at these Irish Lotto odds. It has been revealed that those who participate have a one in 10.7 million chance of winning.

In addition, the Irish Lotto offers the best chance of walking away with a prize more generally, with a one in 29 chance of claiming a win. With tickets priced at two euros, it’s not only the cheapest lottery on this list but the one you’re most likely to win.

Tell us, what sort of player are you: a go-for-gold type who wants a shot at the biggest prize of all or someone who prefers to hedge their bets, and give themselves the greatest chance of winning? Work it out to find the perfect lottery for you.

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