I have $300 to "invest" in NY lottery scratch offs- what's my best strategy?

Question

I play the $2 Win For Life scratch offs and have saved up the winning tickets for the past year or so. It seems only right to regamble it on scratch offs- and go big.

Got any advice? Do you think I should buy 15 $20 scratch offs, 30 $10 scratch offs, or something else, and which ones should I play? Should I buy them all at the same place? How about buying them in the city versus a rural area? I know it's all really just a matter of luck, and the end result will probably be me out the $300, but please tell me any ideas you have. Thanks!

Answer 1

You have a better chance on sticking it in the bank and making interest then losing it all on the lottery! Your chances are slim even with only 300 bucks.

Answer 2

give me the $300. and I will kick you in the butt...same as the lottery

Answer 3

Take that $300 and buy 15 to 17 ounces of silver.  Stick it under the mattress.  In 10 years you will amazed at how smart you are.

Answer 4

i would 15 $ 20 dollar tickets from same place.  odds are better to win on a string than on random ones.

Answer 5

i think if you try buying a few in a row at the same store is good and check your odds for wining on each ticket (i think it's on the back) spend at most $150 which is half you can find something more usefull to do with the rest like put your money in a bank and invest in a CD (certificate of Deposit) and that way your not so tempted to spend the money and you gain a little from it

Answer 6

http://beatthegame.blogtoolkit.com/

check it out its very help full

Answer 7

Take $20 to the book store and read "How to Make money in Stocks" by William O'Neill.  You'll be left with $280 and be a little smarter with money.  Use your new found knowledge to invest wisely and watch your money grow!  

I like to buy a lotto ticket every now and again, but spending $300 on scratch offs is a very stupid thing to do.

Answer 8

Check the odds on the back on the ticket.

$2 scratch offs are usually 1 out of every 5.3 is a winner.

So if I had that kind of money to buy scratch offs, I would buy tickets by 6. One is guaranteed to be a winner.

My boyfriend and I tried this out once, with the Bingo $2 scratch offs. I forgot what the odds were, it was 1 in 4.6 or something.

We bought 4 (though we should have bought 5) and scratched off two each.

One of mine was a loss, but the other was a $2 winner.

One of his was a loss, but the other was a $50 winner.

We were ahead $48.

I wouldn't invest in scratch offs though. Try the bingo hall.

Your chances are better (because it isn't set up, it is a matter of getting the numbers or not), and you only spend $20-$30 each time you go. In Michigan, the bingo halls have a Michigan Progressive, and you buy bingo cards for that game and the prize is sometimes all the way up to $4,000.

Answer 9

Before you "re-invest" this money, figure out how much you spent to accumulate $300 in "winnings". Chances are, it was over $500.

If you hadn't "invested" that original money, you would be sitting there wondering how to wisely spend $500.

Answer 10

It is near impossible to win. How much did you spend to even get the $300 in the first place.

Go buy an iPod or something. They break down so often its kinda like the lottery with a one year warranty.

Answer 11

buy some more bro, go to nz and buy some because you dont get taxed like americans...

Answer 12

1.  Go into the bathroom with your $300.

2.  Flush $270 down the toilet.

3.  Look at the $30 you have left.  The results will be the same as "investing" in the lottery.