Mega Millions Lottery Jackpot Odds Not Worth Chasing

Casino Watch Focus has consistently educated the public on the risks of gambling.  Each year the number of those trapped in gambling’s web increases and the amount of money gambled continues to climb.  One online source points to out that Global Betting and Gaming Consultants resent finding’s show that world wide gambling reached $419 billion in 2011.  Even though most people probably think of casinos, the lottery actually accounts for the most gambling at 28%.  Lotteries popularity always climbs as the jackpots increase.  One of the largest multi-state lotteries, Mega Millions, has an estimated jackpot of $540 million.  These large jackpots create a frenzy of gamblers, some of whom have terrible gambling addictions and some who just play on these types of occasions.  But how good are your odds at winning?  The USA Today points out, the odds are definitely not worth the chase:

Social media users were buzzing about the jackpot on Facebook and Twitter, mostly about what they would do with the money, but also about the tiny possibility of winning the top prize. The odds? About 1 in 176 million.

“I’m reading an article about what to do after you hit the mega millions jackpot. Next article, how to housebreak your unicorn,” says @scottbhuff on Twitter. Some posters link to a someecards.com poster that shows a man consoling a woman, and include this phrase: “Plenty of people don’t win the lottery the first few thousand times they play.”

To put your chances of winning the Mega Millions jackpot into perspective, you are:

About 176 times more likely to be struck by lightning in your lifetime.

About 3.76 times more likely to be killed by fireworks this year.

Almost 9 times more likely to die from a TV falling on your head this year.

Considering the article goes on to explain that people are spending $50 to $100 at time, its easy to see how people will use large jackpots as a time to loose control and spend beyond their means chasing the impossible.

For more information on the dangers of gambling, please visit CASINO WATCH & CASINO WATCH FOUNDATION

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