![]() State-sponsored lotteries began with ticket-based raffles in the 1960s. Starting Small: How Did Lotteries Raise the Stakes? In this article, we'll dive into the math behind lotteries to calculate the probability of winning the jackpot - and some strategies to help increase those chances. This lure of massive jackpots has led to more players buying tickets - and more profits for states.īut if you do decide to play the lottery, what are your actual chances of winning money? And what about BIG jackpot money? To raise the stakes, lotteries have become more and more difficult over time, with greater numbers of losing tickets funding ever-larger jackpots. In fact, in 2020 Americans spent $90 billion on the lottery, particularly on tickets for the Powerball and Mega Millions jackpots. ![]() And many Americans chase that dream every week. Life-changing money for only a $2 ticket feels like a dream. ![]()
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