May 2nd 2007
In the last time the popularity of lotteries has grown significantly. But which is better? Playing slots online and trying to win the online slot jackpot, or playing at a lottery and hoping you will win the big prize.
For a long time now the most popular form of gambling has been slots machines. Their popularity is high in both land based casinos and in online casinos. But did you know that the two main reasons that make slots so popular also make lotteries just as attractive?
What makes slots games so popular? The first thing is the simplicity of the game. Slots and classic slots in particular are very easy to play. The rules are so easy to learn and the game is so simple that anyone can play it. The second reason why slots are so popular is the big online slot jackpot. Since anyone can play the game, anyone can win that big jackpot. And it is a well known fact that slots have given out the most and the biggest payouts out of all casino games.
In fact they pay out more than all the other casino games combined. That'll give you something to think about, especially if you have been looking down on slots players. No other casino game offers the player a chance to win a jackpot as high as $30,000 and sometimes as high as $3 million with a bet of only $1. But slots offer just that payout opportunity.
In this regard lotteries are very similar to slots games. They offer the same chance to get a very big payout with a minimal investment.
Let us take the UK National Lottery and use it as an example in order to understand this better. We have chosen the UK Lottery because it offers the best payouts in the world even if it has been founded recently. And by recently we mean the 19th of November 1994. This is where all the money goes:
If you take a good look you will notice that out of the original 1₤ only 50 pence or half goes to the prize fund. That means the lottery has a very low payout rate. You will get a payout rate between 89% and 99.5% when playing online slots. Even if you play in a land based casino and get a payout rate that varies from 65% to 85% you are still better of playing slots than by playing the lottery.
It is obvious that you have better odds when playing slots than by playing the lottery. There are other lotteries that offer different payouts. Some are better than the UK Lottery and some are worst. But no matter what type of lottery you are playing, slots will always offer better odds. And out of all slots games, online slots offer better odds than land based casino slots.
If you are not convinced yet, here are the payout rates and your odds when playing the UK Lottery:
If you manage to get 6 winning numbers you will get a massive payout. This will make any online slot jackpot look very small. Even progressive online slot jackpots seem small when compared to a lottery 6 number win. But your chances of getting those lucky 6 numbers are 1 in 14 million. You have better odds of getting struck by lighting than by winning the top lottery prize. When it come to getting struck by lighting your chances are 1 in 600,000 and some have even been struck by lighting several times. But so far we haven't heard of anyone winning the top lottery prize more than once.
But what are your odds to win a slots jackpot? Well, depending on how big that jackpot is and the exact slots game you have to play, your chances vary from 1 in 2,000 for smaller jackpots to 1 in 60,000 for those big jackpots. We haven't taken into consideration all the other payouts that slots games offer. You have even better odds to get various smaller payouts when playing slots. These odds are considerably better than playing smaller lotteries.
The conclusion is very clear. If you want to gamble a fix amount every week and do not know which game to choose between slots and lottery, you should pick slots games. Take that money and play a few spins on a slots machine. Your odds are considerably better than by playing the lottery and you may even make a profit. And the best part is that you know the outcome of the game right away. Just pull the handle or push the button and you know if you have won or lost. There's no waiting like when playing the lottery.