Most people dream of winning that big cash prize to remove financial problems, clear debts and fulfil our dreams. Giving us the chance to do just this, a whole series of Lotteries, games and raffles have sprung up world-wide.
Probably the earliest mass-availability “game” came from Premium Bonds, first announced in the ’56 budget by PM Harold Macmillan with the aim of encouraging the savings habit amongst those who preferred the excitement of winning big prizes to earning low interest rates on savings. Prize winning numbers are drawn by ERNIE (Electronic Random Number Indicator Equipment) on the first Monday of each month.
Public enthusiasm and take-up has been so great that ERNIE (Electronic Random Number Indicator Equipment) had to be enhanced from producing the initial 8 digit numbers to the current 11-digit numbers. In 2003/2004 A 7.5 billion Premium Bonds were bought.
Despite this huge interest in prize winning, the government didn’t introduce a UK National Lottery until 1994, but again it has been enthusiastically received, paying out prize money of more than A 29 billion to more than 2000 millionaires, plus of course many thousands of smaller prizes, while at the same time funding good causes to the tune of over A 22.
So there are two alternative ways to swap boring, low interest rates for the excitement of a chance of a big (or smaller) prize win. Other ways are the EuroMillions Lottery and the associated Millionaire Raffle, with its prize of A 1m every week. Each entry consists of 3 letters and 6 numbers and the winning “ticket” is unique, so goes to one entrant only.
Yet another alternative is the Daily Draw from the Irish Lottery. Every day (but Christmas Day) there is a draw to win A 1m by matching 6 numbers, or smaller prizes for winning 3, 4 or 5 numbers (or 5 plus the bonus number).
Which lottery game to choose? How many entries can you afford? How to spread your risk? Can you remember to buy the tickets and check the numbers each day, week and month. It’s enough to drive you dotto!
Camelot sources show that syndicates win 25% of jackpots, but having managed a DIY syndicate it wasn’t an experience I would choose to repeat. Chasing money, buying and checking tickets, etc. And that was with the UK National Lottery alone – the thought of adding in EuroMillions, Millionaire Raffle, Irish Lottery Daily Draw and the many other syndicates available is enough to make the keenest syndicate advocate weak at the knees.
The simplest way to maximise your chances is play the Lottery online and join a regulated and managed lottery syndicate where you have a choice of affordable packages, yet someone else takes the strain of looking after the syndicate administration for you.
Spread your prize game entries in this way, and it really “could be you” winning more on the Lottery.