How to Win at Powerball
We are not ones to look for get rich quick schemes, so we don't play lotto or those kind of games very often but we have to admit the potential pay off on Powerball makes it an attractive gamble with our lunch money. $500 million dollars or more would allow us to focus on BDSC 24/7, and the whole staff is excited at the idea of driving Lamborghini's to work. So we started researching for secrets on how to pick those winning numbers.
For those who don't know, Powerball is a paid game where you pick a series of numbers, hoping those numbers are drawn for a pay out. The odds of winning are usually in the neighborhood of 1 in 300,000,000. You actually have better odds of being hit by lightning, as those odds stand at 1 in 700,000 for any given year. But don't let that discourage you because the pay out can be huge, especially when no one wins in a given week and the jackpot keeps building.
Powerball tickets are sold in 44 states, as well as Washington, D.C., the U.S. Virgin Islands, and Puerto Rico. The only states where tickets aren’t sold are Alabama, Alaska, Hawaii, Mississippi, Nevada and Utah. Ticket sales usually stop at least 59 minutes before the drawing so get there early when the payout is big.
First, we came across some pointers from Richard Lustig, who is a 7 time Lotto winner. Though it's not Powerball, we thought the information might relate. Anyone who has won seven times has to have developed a system. Richard shared his insights, and he doesn't believe in luck, on Good Morning America. His advice is as follows:
Pick your own numbers instead of having the machine do it for you
Research and see if your numbers have won before
Select your ten sets of numbers and keep those if you continue buying tickets
Buy as many tickets as you can afford
Play the same numbers every time
We kept researching and have developed a few rules to follow for picking those winning numbers.
Develop a Number Strategy
The most popular set of numbers played is: 1-2-3-4-5. In fact, thousands of tickets are bought with this configuration every drawing. The statistics say its a waste of money. You should never choose all five numbers from one number group, such as all single digits, all teens, or all 20's, etc.
Pay Attention to Number Groups
Look at Powerball results from past winners and you will find that most often, one, two, or even more of the number groups are not represented. For example, for the March 26, 2011 drawing, the numbers picked were 04-10-11-19-33. As you can see, there were no twenties, forties, or fifties. Tracking and studying number groups from recent drawings can help you decide which groups of numbers to eliminate and which groups to pick extra numbers from.
The Odd Even Game Plan
Try to have a relatively even mix of odd and even numbers. only 4 percent of the time have all odd numbers or all even numbers been drawn . The best mix is to have 3/2 or 2/3 which means three odd and two even, or two odd and three even. one of these two number patterns have occurred in about 70 percent of drawings.
High Low Theory
Winning numbers usually spread across the entire 69 digit number field. If we take the number field and cut it in half, we have the low half and the high half. numbers 1 to 34 would be in the low half, and numbers 35 to 69 would be in the high half. In only 4 percent of Powerball results have all high or all low numbers been drawn.
Yet again, The best mix is to have 3/2 or 2/3 which means three high and two low, or two high and three low. one of these 2 patterns have occurred in about 64 percent of drawings, so by mixing the high and lows with even/odds, you are cracking the Powerball code and moving to wards a winning number pick.
Avoid long series of consecutive numbers because the chance that even four consecutive numbers being drawn is a very slim probability. Most often only 3 or less adjacent numbers have hit .
On average, one number will be a repeat 38% of the time from the most recent drawing. 47% of the time no number will be a repeat. In the the other 15 percent of drawings more than one repeat number was present.
Once you pick the five Powerball numbers you want to play, add them up and make sure that the sum of the numbers falls between between 130 and 221. that range accounts for over 70 percent of all lottery jackpots won.
Think about including some of the following numbers: 8, 54, 14, 39 and 13. These numbers are the most frequently drawn numbers.
Buy Your Ticket in the Right State
Some states seem to draw more winning numbers and tickets. Pennsylvania leads the pack with 16 previous jackpot winners from the past 13 years.
If You Win
According to Market Watch, "every winner is subject to a 25% federal withholding tax. So that $500 million is reduced to $306 million". That would be before state taxes. And "for those who prefer the lump-sum payment, (it) really will be no more than $229.5 million". That's still nothing to sneeze at.
Have a Financial Strategy
Suddenly having $200 million dollars is a lot to handle. Your first instinct might be to go spend a lot of cash on coke and hookers. Well actually, a lot of Lotto winners have done just that and ended up broke.
Market Watch again reported on a couple of winners:
"Callie Rogers blew a 2003 U.K. lottery jackpot of $3 million on shopping, cocaine, friends and breast augmentation and told reporters two years ago she was working as a maid. William "Bud" Post squandered his 1988 Pennsylvania prize of more than $16 million on houses, vehicles and bad businesses before going bankrupt and serving time for firing a shotgun at a bill collector before his death in 2006"
"Economists at the University of Kentucky, University of Pittsburgh and Vanderbilt University wanted to answer a public policy question: What happens when individuals in financial trouble are given large lump sums?"
The answer? More than 1,900 winners went bankrupt within five years. So the need for a sound financial strategy is obvious. That doesn't mean you can't have fun with you new found money, but a good financial advisor may be you best friend. Put some of that money away to gain interest, and be smart in what investment and business opportunities you gamble on. If you do win using these strategies, we at BDSC think you owe us a cut.