Millions of players play the lottery, and just as many play at casinos. But what makes one better than the other, and which one has better odds?
By winning the single lottery draw, a player wins a prize that can change their whole life. However, the chances of that happening are close to none. You might say that you are more likely to be struck by lightning or attacked by a shark than you are to win the millionaire’s prize.
If you play in a casino, your chances of becoming a millionaire from one moment to the next may also be relatively small, but you always have the opportunity to accumulate small prizes that can change your life to a greater or lesser extent.
Let’s look at some of the differences between the lottery and the casino:
- The Lottery has a higher house edge than any casino game
Most lottery games have a 40-60% house edge. In other words, for every Euro you receive, you pay out only 40 to 60 cents.
Most casino games have a house edge of less than 5%. This is more than 10 times less than the lottery average.
The appeal of lottery games is the amount of prize money you can win, not really prizes of a few euros but the chance to win millions.
International lotteries, such as EuroMillions and Super Enalotto, offer life-changing prizes. They have already paid out record amounts of 190 million Euros and 209 million Euros respectively.
In the casino there are also games that offer high jackpots. Many slots have progressive jackpots of over a million and many other games have jackpots of €10,000 or more. And even if the odds are still against you, the probability of winning a progressive jackpot is still higher than winning a big prize in the lottery.
The Megabucks slot, a progressive slot machine that is quite common in casinos, and offers a payout of millions, has odds of just under 50 million to 1 for the jackpot. The two big lotteries in the US have odds of around 175 million to 1 and over 260 million to 1. Most other major lottery games around the world also have odds of over 100 million to 1.
In other words, in almost all cases you are twice as likely to win the Megabucks jackpot and more than five times as likely when compared to many lottery jackpots. You probably won’t win any of the jackpots, but it’s better to take a chance on the one that gives you the best odds.
- You Can Use Strategy in a Casino
Many casino games are made so that you can use strategy to reduce the house edge. Even simple games like craps and baccarat allow you to make decisions that can reduce the house edge, thereby increasing your chances of winning.
When playing the lottery you are only relying on your luck, as you simply buy your ticket and hope that the winning numbers match your own.
- You can’t win the lottery
Although it is difficult to beat the casinos in the long run, it is not impossible. A good poker player can win consistently. However, no one is capable of consistently playing the lottery.
The lottery will keep taking your money, and your profit, in the long run, keeps getting more negative. The probability of winning, or at least not losing money over time is so small as to be almost non-existent.
- Casino Comps
The lottery simply takes your money and pays out cash to the winners. When you play for example at an online casino, you always have the possibility to receive bonuses, in the form of cash or free spins, for simply being a new customer at an online casino thus increasing your chances of winning.
When was the last time the lottery offered you something for your game?
- Low Lottery Costs
One of the main advantages of lotteries, and what attracts so many players, is their low cost. You do not have to pay much to participate in a lottery. Therefore, you do not have to worry about losing a significant amount of money.
Casino games differ in this respect. They feature a faster rate of play which leads to the player risking more money per gaming session.
- Gambling simplicity
You may find the strategy involved in blackjack or poker intriguing. However, you may also initially be easily discouraged by the complexity of these games.
Some casino games are difficult to learn and master. This is a big reason why many casino gamblers simply opt for the slot machines. The lottery is much simpler and all beginners can quickly learn how to play.
Lotteries are not necessarily better than casino games. However, they offer the dream of a life-changing prize, but the truth is that less than one in 100 million are lucky enough to have their dream come true. You can also play for a huge jackpot in the casino while enjoying a much lower house edge.
However, lotteries still dominate the gambling world. Every week they attract countless players all over the world. Many people are drawn to the lottery because of the huge jackpots, but also because they enjoy the simplistic game play.
Nevertheless, if you are looking for fun and excitement while playing, and better odds of winning, despite smaller prizes, your best option will always be the casino game.