Lottery vs Slot Machine- Which is Better?

lottery-and-casino
Friday April 19, 2019 11:06 am

The Lottery Lab Staff

Some people find lotteries thrilling whereas there are people who prefer progressive slot machines. Both lotteries and progressive slot machines offer a chance to wager a small amount of money with the potential to win a life-changing jackpot. Here we discuss the pros and cons of both the lottery and slot machines.  Decide for yourself which you find more exciting-

Benefits of playing lottery games

  1. Most lotteries offer a “multi-draw option” which lets you play several weeks in advance with the same ticket using the same numbers for successive weeks. There are some lotteries which even allow you to play continuously by Direct Debit or the similar payment method.
  2. In addition to the jackpot, lotteries offer smaller cash prizes which can be claimed hassle-free just by showing the winning ticket.
  3. Lottery games are quite easy to play and understand. One doesn’t have to understand complicated techniques.  Simply using a pen or pencil to mark off your numbers enables you to play.
  4. Lotteries can be played at many convenient locations including local shops.
  5. All winners are paid automatically, just by presenting the winning ticket and satisfying some formalities.  Just DO NOT LOSE YOUR TICKET!

Benefits of playing slot gaming

  1. There are various games available to play in a casino and they all are accessible and easily available.
  2. One spin on a slot machine is considerably cheaper than the cost of a single lottery ticket. One British player won £5.3m for just a 0.30p (or cent) bet.
  3. Slot games are available to play 24 hours a day, 7 days a week, and 365 days a year.
  4. You can bet as much or little as your budget allows, rather than being limited to a fixed price.

How are casinos different from the lottery?

The entire lottery system is different from casino gaming. Casino slot machines are entirely dependent on random number generators. These systems are privately owned and operated hence, the systems can be rigged, and players would never know. If the random number generator is not in your favor, you can’t win in the long run. You might have observed that prizes come in more often when you to place more bets. This is part of human psychology that slot machine owners exploit.

Alternatively, the outcome of most lotteries is determined by a mechanical process and all results are publicly announced. This helps ensure the lottery’s odds and allows for testing that each number combination has the same odds of becoming the winning number. Of course, experienced lottery players are aware that the fact that lotteries are so transparent makes minor imperfections in the system visible. With patience, observation, skill, and knowledge advantage players come up with custom number combinations and win the lottery jackpot.

Slot machines can make you poor overnight- lottery can’t

Gambling addiction can be a serious problem that destroys families and lives. Since lotteries are played on a slower schedule than casino gambling, they are much less likely to allow for obsessive behavior. On the other hand, slot machines are specifically designed to take advantage of human psychology.  The lights and sounds are designed to catch your attention, the payback rates are designed to make a win seem just one more bet away, and the presence of other players is meant to make you feel like other people are winning.  What is worse, have you ever seen a clock on a casino’s wall? Of course not, because casinos don’t want their customers to limit their play.  Casino operators actually politic aggressively to control the casinos and oversee the “protection” of casino players.

Even though lotteries benefit from excitement and dedication among players,  there are a number of controls to prevent compulsive behavior. The first and most obvious difference between a lottery and a casino is that the place where a lottery ticket is purchased lacks the flashing lights and bells.  Typically, the lottery advertising is competing with advertisements for gas, cigarettes, and beer.  This helps keep the game in perspective.  Ironically, almost all lottery commissions have instituted practices to slow down the speed with which a person can buy multiple tickets.  These rules have emerged to prevent syndicates from systematically buying large numbers of tickets, but they also serve to make an individual mindful of how much money they are betting.  Finally, since most lottery retailers only have a single machine, a person compulsively buying tickets gets in the way of other players (“sir, don’t you think you have enough tickets?”). Finally, the state-run lottery associations run their own gambling control programs so there is no middle man with a conflict of interest.

The returns and the entry costs differ greatly

Lottery games can offer you the chance of winning multi-million dollars in exchange for a $2 bet. In order to enter a lottery game, you just have to purchase a lottery ticket.  Regardless of how many tickets a lottery player buys, he doesn’t change the jackpot value in a meaningful way.

By contrast, casino games base their prizes on the amount you bet. For instance, if you place a bet on a roulette wheel number, the prize will be multiplied by 36 only. Moreover, casino games often apply minimum bets, limits to bets, and  will even ask you to stop playing if they believe you have an advantage.

Lotteries and Casinos can both make you a multi-millionaire- but different ways

Suppose you’ve been playing the lottery for years and have experience about the combinations you should pick. When your magic winning moment comes, your life will change drastically. You’ll won millions of dollars and be able to afford every luxury you have ever dreamed of.

Playing casino games can also turn you into a millionaire, but only if you are a billionaire. The point is, the machines and operators are programmed to keep the edge in favor of the house. You may win a small prize now and then, but you can’t beat the house in the long run. In case you have an advantage and the house gets suspicious, they simply throw you out and can legally ban you from even entering the casino. Therefore, the only way you can win the casino game is by owning the casino.