Lottery is a game of chance and to win life-changing amounts, you have to be incredibly lucky. Thus, the best time to buy lottery tickets is right now. The more you participate, the more chances you have of striking luck and reaching that millionaire dream of yours.
However, we know this wasn’t the answer you were looking for. Don’t worry, we have the answer you seek as well. Mathematically, cost-efficiently, and superstitiously, there are four occasions that could be considered better times to buy a lottery ticket.
1. Whenever Discounts Are Available
Every time you can get a discount on an entry or more lottery tickets for the same price is a good time to make a purchase. For the same amount of money you would usually spend, you can now get more tickets, and more tickets mean better odds of winning.
If you play the lottery online at international lottery sites, you will often find discounted prices as a standard when making big purchases or signing up for subscriptions. However, for that extra good time to buy a ticket, keep an eye out for special promotions that can add even more discounts to your purchase.
This is the cost-efficient way to play the lottery. The less you pay, the better.
2. When the Jackpot Is High
For lotto players who are all about math and making calculated life decisions, the best time to buy a lottery ticket is when the jackpot is exceptionally high. The higher the jackpot is, the higher your expected return will be. Here’s an easy example explaining how it works:
- The odds of winning the jackpot are 1 in 1 million or 0.0001%
- Cost of ticket is ₹100
- In scenario A you play when the jackpot has a sum of ₹80 million (₹8 Crore)
- In scenario B you play when the jackpot has a sum ₹150 million (₹15 Crore)
No matter the scenario, on average, you have to buy 1 million tickets to win.
In scenario A, this means that you’re investing ₹100 million in order to win ₹80 million.
In scenario B, it means that you’re investing ₹100 million in order to win ₹150 million.
If we divide your expected win with your expected investment, we get something known as RTP (Return to Play). When RTP is above 100%, it means that in the long run you are expected to win more than you invest. In other words, if the RTP is more than 100%, mathematically, playing the lottery will eventually lead to a profit (assuming the jackpot isn’t shared).
In scenario A, ₹80 million divided by ₹100 million is 0.8 or 80% RTP.
In scenario B, ₹150 million divided by ₹100 million is 1.5 or 150% RTP.
As the jackpot increases so will the RTP. Thus, the best time to buy a lottery ticket, mathematically, is when the jackpot is as high as possible.
3. When the Jackpot Odds Are Improved
The vast majority of lotteries have jackpots with odds that never change. No matter when you play, your chances of winning the jackpot are the exact same. However, there are exceptions to the rule and one such exception is the EuroMillions lottery.
Like most lotteries, the jackpot prize in this lottery will roll over to the next draw whenever it isn’t won. This is, however, only true until the jackpot reaches an amount of €230 million (₹1,965 Crore) which is its cap. When this amount is reached, five draws will occur and if the jackpot isn’t won within these, it is paid out as a second prize instead of first.
This means that the odds of winning the jackpot go from 1 in 140 million to 1 in 7 million. Quite the difference, is it not? In other words, one of the best times to buy a lottery ticket is when the EuroMillions lottery has reached its cap. Stay informed!
4. When Fewer People Are Playing
I know what you’re thinking. Why is it a good time to buy a lottery ticket when fewer people are playing when your chances of winning the lottery are unaffected by the number of participants? Whether you are the only one playing or 10 million people play along with you, the odds stay the same.
However, how much you win usually doesn’t. In most lotteries, the jackpot is shared between all winners. So, the more people that are playing, the more likely it is that people are picking the same numbers as you. In other words, if you win the jackpot, you have to share the prize with them too and get paid less.
Thus, when fewer people are playing the lottery, the better the time it is to buy a ticket. Here’s where it gets tricky though as knowing when people aren’t playing is quite hard to project. The answer may, however, be hidden in our next pointer so let’s take a look!
5. When the Month Is July
The month of July is the best time to buy a lottery ticket. At least so if you’re superstitious and are playing the EuroMillions lottery. Based on statistics from all 382 jackpots won between 2004-02-13 and 2022-03-04, the month of July has produced the most winners. Check the table below for a full breakdown.
Superstitious or not, if the table tells us anything, it is the fact that winning the lottery is all about chance. Winners are quite evenly distributed throughout the months. The exception is August which really stands out. Since EuroMillions is a European lottery, it may be because most people are busy enjoying their vacation at that time. If so, that’s an opportunity to play the lottery when fewer people are playing!
If you’re superstitious, a better explanation may, however, be that August is a bloody cursed month.
Does It Really Matter When You Buy Your Lottery Ticket?
Based on our pointers in the article, it could matter, but if you want our honest opinion as lotto enthusiasts, we would say no. The chances of winning big in the lottery are slim and a ticket doesn’t cost much. Why bother looking for specific times to play the lottery when you can just subscribe and get a new ticket every week for a new chance of winning?