Slots or the lottery, which is more profitable?
Many people wonder if they are more likely to win at slots or the lottery, here is a quick examination of this question.
When playing slots you will have the chance to win $100,000 or more from one spin of the wheel and the only real skills needed is having good money management skills and being able to track down the highest paying slot machines. A question often asked is “what game is there greater chance of winning, slots or the lottery”. Therefore, it is worth doing a quick comparison of the games to see which you are more likely to win at.
Firstly the lottery, as a case example we can examine the Kansas state lottery in the United States from 2009. First of all, 29% of the money made from selling lottery tickets went to the State Revenues Gaming Fund, 4% went to vendors, 6% went to retailers, 5% covered administrative expenses and the remaining 56% of the money went into the prize pool.
This means, that at the end of the day it is only just over half the money made from ticket sales that go towards the prize. This means that you can only really expect to win $0.56 back on every $1 invested in the lottery. In other words, if this lottery was to be held in a casino it means that the house edge would be a huge 46%.
If you are playing online slots on average you can expect to receive payouts ranging in value from 95% up to 98%. This means, if you earned exactly what the law of averages predicts you would make between $0.95 and $0.98 on every dollar you bet on the machines. You would also have the chance of winning a huge jackpot on top of everything else.
By looking at the percentages it becomes fairly obvious that there is no comparison to be made between the lottery and slots. An average player should make far more money by playing the slot machines. However, if you dream of becoming a millionaire then state and national lotteries are a great way to give you the hope of achieving your dream one day.
