3 of the Most Amazing Facts About the Lottery You Never Knew
Chances are you know that the lottery can turn a person’s life around, providing them with a fortune they could only have dreamed of, but what you don’t know about the lottery will surely amaze you. Here are a few of the most interesting aspects of the lottery you never knew about:
It’s Actually a Good Bet.
According to economist Stephen Bronars, playing the Mega Millions can actually be a good bet. Though the odds of winning it are one in 176 million, if the Mega Million’s jackpot is $640 million, the “expected value of a Mega Millions ticket is about $1.23.”
You Don’t Have to Take the Money All in One Go.
If you win the lottery, you don’t have to take the money as one, big, lottery lump sum payout. You can choose a lottery annuity settlement instead. These arrangements pay out the prize amount piecemeal. For example, the Mega Millions annuity payout includes one immediate payment followed by 29 annual payments that increase by 5% each time. The Powerball annuity payout schedule is similar, in that it’s 30 annual payments that increase over time. With an “immediate” annuity, you can start receiving lottery payments in about 30 days.
People Wait in Line to Play at “Hot” Stores.
Some places are luckier than others, or at least that’s what some people believe. Take the supposedly lucky Bluebird Liquor store in Hawthorne, California. A Yelp reviewer claims that they went to the store on a random day when the jackpot wasn’t even that high, and the line was decently sized. They even said that, “There are people in line with 100 dollar bills buying all kinds of scratchers.”
The lottery is truly an interesting machination to be sure. If you know of any other fascinating factoids, feel free to share in the comments.