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What are your thoughts on ticket 'extras'?

Chadu82's avatar - Lottery-029.jpg
Chadu82

I recently started playing Hot Lotto and Mega Millions but I only buy quick pick tickets for multi-draws. I don't do anything extra since I don't want to spend a fortune on tickets. What are your thoughts on paying the extra $1 for the Hot Lotto 'Sizzler' or the additional $1 for the Mega Millions 'Megaplier' for your tickets? I figure if a tickets is meant to win, it's going to win the big one so I shouldn't go spending extra money on each indiviual quick pick just to be throwing extra money on each purchase.

With Hot Lotto, I buy 4 quick picks @ $1 each for 5 draws so it costs me $20 total. I do this twice a month so my draws cover the month. If I paid the extra $1 for the Sizzler, I realize it would cost me double so it would end up being $40 for the month for 3 quick picks @ $1 each plus $1 for the sizzler on each quick pick.

With Mega Millions it would cost me a little less. I currently purchase 3 quick picks at $1 each for 5 draws for a total of $15. If I did the same thing but added the multiplier, it would cost me $30 for 5 draws and $60 for the month w/ megaplier.

So its either going to cost me:

Mega Millions $30 + Hot Lotto $40 = $70

Mega Millions $60 + Hot Lotto $80 = $140 (WITH EXTRA's)

I don't mind spending the $70 and probably will spend less as I reduce my Mega Million purchases in the future. However, does anyone that's played regulary have any thoughts or how their luck has been spending the extra $1 or is usually a waste?

Thanks...... Smile

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DG1USA

I avoid playing the extras-I would rather play an additional game rather than pay twice as much for the same ticket.

Maybe when my numbers start coming out, I will change my mind.  Thumbs Up

rdgrnr's avatar - walt
rdgrnr

Since you are far, far more likely to win the lesser prizes, it's nice to multiply them when you do.

I always get the Powerplay and the Megaplier.

Now it could get expensive if you play a lot of lines but if you only play a line or two like me, it's no big deal.

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DG1USA

You are a brave man, Rdgrnrtend do tend to go for more chances. Coffee

LottoMetro's avatar - Lottery-024.jpg
LottoMetro

Lotteries generally do not offer extras unless they benefit them.

Adds-ons like Megaplier reduce the variance among wins, which makes them seem 'better' than buying multiple tickets. Mathematically speaking, however, this also increases minimum (in a negative way) returns and reduces maximum returns. This makes sense because they cost 2x as much but offer only 1 chance. It's quite negligible though because the expected trials necessary to realize those returns are so high. Case in point, Mega Millions.

IMO it would just be better to just buy one and done, no messing with extras and not buying multiple tickets unless you want to save up and put it all in one draw (as I have discussed previously). Or better yet, play better games. The new Hot Lotto is awful.

In 2013 my payback on drawings was only 13%. That wasn't just cause I choose bad numbers, that is a combination of QP and my own. Now compare that to my payback of 75% on scratch-offs. Not just a few trials for either type, yet why so big a difference? Draw games are heavily right-skewed (log normal) and the variance is worse (i.e. randomness is higher). They do have an infinite upside though, so it doesn't hurt to play every now and then Thumbs Up

maringoman's avatar - images q=tbn:ANd9GcTbRxpKQmOfcCoUqF2FyqIOAwDo7rg9G-lfJLAALPGWJWwiz19eRw
maringoman

Many people have started a similar thread, myself included, and many people will start a similar thread in the future. This topic is complicated. Some people argue that the $1 used for multiplier is a missed chance at an extra MM ticket that could prove to be the winner. In these MP & PP (Mega plier & Power play) threads, what I have come to learn is that there are people who play the lottery for different reasons. Some play for the lower prizes even while aiming for the hard-to-win top prize while some play solely for the top prize. If you believe you have a good chance of hitting the lower prizes then it makes sense to add MP & PP. The best way is to study both sides and then decide for yourself. I happened to be in the PP & MP side but right now I am on a break from both MM & PB. 

The pic attached below is from the WBZ news website. It was from a news article about 2 guys who have been playing together for years and finally hit it big. They each chose 3 numbers and added PP. They hit for $2M and will split half n half. WBZ camera guy didn't do a great job but you can still see the most important details. The date, the PP option chosen and that it was not a quick pick.

 

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