When it comes to the lottery jackpot, we can all agree that the odds are slim, but it’s still fun to fantasize about what we would do with a billion dollar payday. Unfortunately, the human brain doesn’t do well with risk and reward on a grand scale. In fact, people are even less likely to realize that eye-popping jackpots actually happen than they were 10 years ago.
But, there are a few things that you can do to increase your chances of winning the jackpot. First, select rare numbers rather than popular ones. This will improve your odds of keeping more of the payout for yourself if you win. Additionally, you should choose numbers that are not associated with birthdates or anniversaries so that you can avoid splitting the prize with multiple winners.
Another tip is to buy the smallest possible ticket. The smaller the ticket, the lower your odds of winning. Finally, play regularly but don’t spend money that you can’t afford to lose. Glickman admits that he occasionally buys a lottery ticket when the jackpot hits nosebleed levels but he doesn’t make it a habit.
Lottery winners can choose to receive their prize as a lump sum or an annuity. Taking the lump sum will provide you with a large, immediate payout, while an annuity will offer annual payments over decades. Regardless of which option you choose, you should work with a financial advisor to set up your newfound wealth for the future.