How Much Should You Spend on Lottery Tickets?

Lottery players who see themselves winning in the long run should be prepared for rather difficult periods. There are many slopes, one of which is money management. I can discuss about it for hours, mainly because no two lottery players are the same, which means, both have different opportunities. Moreover, lotteries come with different rules. This is one of the beauties of the lottery. It never becomes boring. However, in order to get your lottery tickets, you need money!

The question that has fathomed lottery players for years is how much should you spend on lottery tickets? Is there some sort of a rule? Are there are guideline that gives players an idea how their budget should look like?

The Starting Point of Any Lottery Strategy

Your lottery budget will pretty much define your lottery play. You will also eventually choose what lotteries you will play depending on how much money you can dedicate to playing the lottery. Furthermore, depending on your budget, you will be identified as a passionate, casual or professional lottery player. As you can see, it really is the starting point of everything that’s even remotely related to the lottery.

I advise all new lottery players to carefully evaluate their current position before they make any serious “investments” or before they quit with an excuse that the lottery is too expensive. Do your homework people! Winning millions don’t come that easy. It’s time to unravel the mystery!

What Is Your DISPOSABLE Income?

You’ve heard it before, I’m positive. If you don’t have a background in finance, marketing or economics, there’s a high chance that you have no idea what disposable income is. Disposable income is the money that you have at the end of the month, once you’ve paid all bills, rent, you’ve paid for the groceries and you’ve covered all other expenses. This money, you can spend it on whatever you like. If you don’t know what to do with it, just put in your bank account. It’s good to have some savings for rainy days.

On the other hand, if you feel that you’re so close to winning the jackpot, you can inject your lottery play with extra lottery tickets. As long as you’ve covered all living expenses, you can do whatever you want with your disposable income, for example, you can buy more tickets!

How Many Lotteries Are You Playing?

It’s common to see a lottery player who’s chasing several different jackpots. Some of my friends you also play the lottery play two major league lotteries such as the Powerball and the Mega Millions, but they also buy tickets for one or two local lotteries. Those who play the lottery online have a more exotic approach. They like to spice things up a bit every few months.

Now, if you’re a serious lottery player who really likes to win, I can already see you spending $100 per week. That’s like 5 lotteries, each taking $20 per week. Seems reasonable, right? Can you afford this amount of money? If the answer is yes, I can confirm that you’re spending the ideal amount of money on lottery tickets. Should you eventually raise the stakes? The answer is yes, but only if there isn’t any holiday around the corner. The benefits do not outweigh the costs, ergo you should save those extra dollars.

How Successful Are You? – Self-Sustained Lottery Play

Lottery players who have achieved this are the role models of contemporary lottery. Over the years, these players have amassed so much experience that their number combinations are portfolios. The risk is brought to a bare minimum. Usually, these players spend way more than $100 per week. If you happen to be a novice lottery player, forget about this. This is not for you!

These players haven’t spent a dollar on lottery tickets in months, probably years. Players who have extensive knowledge in statistics, mathematics or simply are keen on the lottery find it easier to manage their lottery budgets, come up with an all-round number combinations that bring high returns. Whenever a player of this kind notices that things are taking the wrong direction, they act quickly, adapting to the new conditions.

Do You Consider the Lottery as a Hobby or a Solution?

You see, I don’t use the term game. Undeniably, it is a game, but many lottery players do not consider it as such. For me, it all started out as a hobby and hobbies shouldn’t suck a large chunk of your income. Eventually, I got better at it, and now I manage to live a decent life. Well, I have a decent amount of savings. In other words, the lottery became a solution for me.

It is a solution. Nobody can deny that. However, I must point out that only a small number of lottery players see the lottery in this light. Now, players who take the lottery as a solution, expectedly, spend more money on lottery tickets. Do you like me to tell you how much I spend on lottery tickets? Don’t get me wrong, but I bust $500 on average per week. It feels good to be a successful lottery player!

Nonetheless, if you take the lottery as a hobby, this amount is too much. I think we call all agree on that one.

How Much Should You Spend on the Lottery? – A Rule of Thumb

Boy, oh boy. This is the question! I can tell you that only one thing’s for certain. There’s no right amount, but I can give a few guidelines which I’m sure will come in handy. Keep in mind that you want to treat yourself when you win a decent amount. Don’t spend it all on lottery tickets!

You and the people around you should see you’re actually making something out of the lottery. Busting your lottery winnings on extra lottery tickets just won’t do, believe me!

Never borrow money so you can buy more lottery tickets. Always have your expenses in check. You can increase your lottery budget after a given period of time, say you can add extra $20-$50 every 6 months or so. This way, you balance your money management skills, your lottery experience and hopefully, your returns will improve as well. As you can see, I don’t want to brainwash you with numbers and make you think that you’re spending too much or too little. My final advice is, if you’re having fun, you’re doing it right. Spending too much will cause money problems, spending too little reduces the overall returns and I have to be honest with you, it’s not as exciting when you play the lottery with only one or two lottery tickets.

There’s a Thin Line between Too Much and Too Little

If you’re worried that you’re spending too much or too little, there’s a high chance that you’re in fact doing one of these. To be straight with you, I was caught up in a lottery madness, in a way. You see, I wasn’t always so good with money. Like I mentioned earlier, do not spend all your winnings on lottery tickets. For several years, I hadn’t bought anything else besides more lottery tickets. At that point I was overspending. I don’t want to brag, but I am a pretty good lottery player. If it wasn’t for my high returns and profit ration, I would’ve quit playing the lottery long ago.

Now, since you’ve learned a thing or two about the lottery and you have a better idea how much you should spend on lottery tickets, feel free to buy 2 extra lottery tickets for every lottery you’re playing. Take it as a treat that I recommended. I can already imagine you saying, “He was right, I won!”