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what time to play powerball

The Best Time to Play the Powerball Lottery, According to Math

Playing the lottery is never a good financial investment, seeing as you have better chances of being on death row and getting a last-minute pardon by the governor than winning . However, if you do play for that glimmer of hope, there are times when it makes more sense to buy a Powerball ticket than others.

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Mathematician and Business Insider reporter Walter Hickey looked at over 1,000 Powerball lotteries that took place since 2003 to run the numbers. He found the probability of the jackpot being split, the correlation between the number of tickets bought and the size of the jackpot, the value of the jackpot in each scenario, the probability of winning the jackpot, and the expected value of one ticket (regardless of the jackpot). With all that data in mind he determined:

  • If you’re going to play and you do win, don’t take the cash up-front but instead take the 30-year payments
  • Play when the jackpot is at least $380 million
  • Minimize your taxes. “Taxes will probably mean that it is never profitable or sensible to play the lottery.”

You might have a better chance of winning also if you only play small state lotteries . Finally, as financial advisor Jason Hull says , it’s okay to buy one ticket for entertainment—but only one.

How to Turn a Lottery Ticket into a Good Bet

Most people know that the lottery isn’t a great way to spend money, but if you’re doing it anyway,…

Playing the lottery is never a good financial investment, seeing as you have better chances of being on death row and getting a last-minute pardon by the governor than winning. However, if you do play for that glimmer of hope, there are times when it makes more sense to buy a Powerball ticket than others.