Whenever we see news stories, television shows, or movies that feature the lottery, it always seems that they tend to focus on the jackpot as the only real prize that is worth winning.
Lots of other prizes
Although the jackpot is the top award, there are also smaller but still very substantial prizes that can be won, and even the smallest prize should not be scoffed at or have the nose turned up to.
Yes, the jackpot is sitting at ten million dollars. That ten million grows to fifteen million dollars. And that spurs more people to buy more tickets to try to win the jackpot.
But there are many more smaller prizes to be won that need to be acknowledge as well.
Second prize
For instance, second prize could be something like five hundred thousand dollars. That’s still a good amount to win, to pay off bills or buy a new house, and your odds are better in hitting it as there may be two or three five hundred thousand dollar prizes to be won instead of just the one jackpot prize.
Therefore, you have three times the chance of hitting the second prize than you do the jackpot.
The odds get better
And there are even more opportunities to win.
As the prizes decrease in value, the odds of winning those prizes actually increase, even if just a tiny bit.
As an example, for a ten thousand dollar prize, there might be twenty prizes of it to be won. The odds of course tend to be much better.
There might be two or three hundred $500 prizes. Even better odds to hit one of those.
Maybe a couple of thousand $20 prizes. Possibly fifty thousand $5 prizes. And of course, there could a few hundred thousand free plays to be won.
And although it’s nice to win a cash prize, a free play means you get to play one ticket on the next draw without any more money coming out of your pocket. You’ve won another chance to win another prize.
Don't overlook lower tiers
Many people who play the lottery either forget about the minor prizes, or don’t consider them as they buy their tickets for the jackpot.
Lottery operators and regulators love to promote the top awards as an incentive to buy tickets. But what about those potential players who know their odds for the jackpot are slim, but are just fine in winning a “paltry” five dollars?
These smaller awards should get the same exposure in advertising as the jackpot amount does.
Believe it or not, some people do actually play the lottery hoping to get just a free ticket. They aren’t obsessed with having to hit the jackpot or any major prize. If they do hit it, that’s great. But they feel that if they at least win a free ticket, they have won something, and it still makes them feel good
Remember that there are many more prizes to be won for each draw in addition to the jackpot. You are not just buying a ticket for one solitary prize. You are buying a ticket for the chance to win any prize.
Even if you don’t win cash, a free ticket may just be the one that grabs a hold of your luck and gets you that jackpot.