How To Make Money On Scratch Offs

1. How To Make Money On Scratch Offs
2. How To Make Money On Scratch Offs Prizes
3. How To Make Money On Scratch Offs Remaining
4. How To Make Money On Scratch Offs Easy

Many of them can be accessed in demo-mode, allowing you to find the games you like best before you commit to playing scratch offs for real money. This IGT online scratch off is loosely. Whether you're buying 10 at a time or taking the whole roll home with you, keeping your. Lottery Secret Tips!!! How To Win On Scratch Off Tickets EveryTimeIn this video I show how to use my winning strategy to win at Lottery scratch o. Buy scratch tickets from stores with fewer customers. Every new roll of lottery scratch off tickets is.

Secrets of State Lottery Scratch-off Contracts

How To Make Money On Scratch Offs

When most people think of advantage gambling, state lottery scratch-offs are the last thing that enters their minds.

Everyone’s heard of counting cards at blackjack. There are even several moviesabout it.

And poker has been shown to be a game of skill; just look at the repeat winners of major tournaments like the World Series of Poker and the World Poker Tour.

But most people still refer to the lottery as an “idiot tax”.

And scratch offs have a notoriously bad expected value (which you can think of as a gambling game’s return on investment).

To give you an example of how bad lottery tickets can be, most $1 scratch offs have an expected value of around 60%, meaning for every $1 you spend, you’re expected to get back just $0.60; a $0.40 loss.

Most penny slots have paybacks that are better than that.

And other gambling games, like blackjack, can approach 99% payback without any card counting at all.

I’m here to shed light on a new way of thinking about scratch-offs and show you how you can improve your odds. It won’t always be profitable.

But under the right circumstances, it can be. If you’re going to play regardless, you might as well maximize your chances of winning.

Here are my insights about how to win at scratch-offs. I’ve gained these insights by reading the contracts and procurement documents that state lottery organizations have with their ticket printers.

Combine these insights with sites that calculate a scratch-off ticket’s odds, and you’ll be playing like a sharp

Where Are Scratch-off Grand Prizes?

Grand prizes are not random.

I’m sure all of these insights will come as a surprise.

But this one is probably the biggest.

Surely the state wants to ensure a fair game.

How can it be fair if the biggest prizes of all aren’t even random?

Here’s an image of the procurement document that the Massachusett’s lottery used to elicit bids from ticket printers:

You’ll see that they require the grand prizes to be distributed evenly throughout the game.

Note that “distributed evenly throughout the game” is not random.

If the prizes were random, then they might all appear at the start of the game. Or they might all appear at the end of a game.

But the state doesn’t want that to happen. If all of the grand prizes were claimed at the start of the game, then people would stop playing the game because they would have no shot at the big money.

How To Make Money On Scratch Offs Prizes

You can take advantage of this fact by figuring out how many tickets are in a “pool” where a grand prize should be. If there are 9,000,000 tickets and 3 grand prizes, then divide 9,000,000 by 3 to figure out that there must be 1 grand prize every 3,000,000 tickets.

Then, use the state’s lottery website to figure out how many tickets remain. Most states publish this information for each game.

In the example game just mentioned, if there were 7,000,000 tickets remaining and still 3 remaining grand prizes, then you know the first grand prize must be in the next 1,000,000 tickets. Your odds just improved from 1 in 3,000,000 to 1 in 1,000,000.

That may not seem like much, but it can mean the difference between negative and positive expected value.

Is There A Limit To The Number Of Big Winning Tickets In A Roll?

Here’s an image from documents filed as part of a Texas lawsuit against the state and the ticket printer:

In this contract that Texas has with IGT, there’s a clause that states that there can be no more than a certain number of $25-$50 winners per pack of tickets. There’s another clause that states there can be no more than one winner of $75 and higher per pack. (The “one” is redacted, but we can deduce that tit’s one by looking at the word following the redaction, which is “winner” rather than “winners”).

How To Make Money On Scratch Offs Remaining

How can you use this to your advantage?

Buy only one ticket from a pack at a time and scratch it right there at the store.

If it happens to be a big winner, don’t buy any more tickets from that pack.

What Is The Minimum Payback for a Roll of Scratch-off Tickets?

How To Make Money On Scratch Offs Easy

This next image is from the request for a proposal from the New Mexico lottery association to ticket printers:

It shows that each pack of tickets has some guaranteed payout. The details of the guaranteed payout aren’t specified, but from other contracts and personal experience, I’ve found it to typically be about 50% of the price of a pack of tickets. If an entire roll of tickets costs $600, then the GLEP is usually about $300.

What this means for the advantage player is that you should not stop buying after a string of losers.

Since each roll of tickets is guaranteed to have a certain minimum payout, then every loser you see increases the chance that the remaining tickets are winners.

Conclusion

While none of the above insights will guarantee you will win, they are just a few of the things you can do for yourself if you want to know how to beat scratch-offs.

Combine these insights with some expected value calculations from the remaining prizes that get displayed on the state lottery websites and you’ll be doing way better than the average lotto player.

Good luck.

About the Author

Eric Ihli, a professional gambler/programmer, spent 10 years as a full-time professional gambler and 5 years as a software engineer. He now combines those two passions by writing software to discover and evaluate profitable gambling opportunities.

Making a million dollars is a big dream that many individuals have. The financial freedom that comes with being a millionaire is enough of a lure for any person, in any profession to take on this type of challenge. But how do you make a million dollars with no base to grow off of? The good news is, I have some tips that anyone can use to help them make $1 million from scratch.

1. Find a mentor who has done it.

A mentor can be your greatest ally in your journey towards making a $1 million. If you have someone looking out for you who has done it before you can gain valuable insight that can truly make the difference in your success. I did not have a mentor, I was self taught, but I could see right away how much easier my journey would have been with a mentor behind me.

Related: Forget Advisors -- How to Find and Woo a Power Mentor

2. Know that you don’t need to be perfect.

You don’t have to be perfect and you don’t have to do a perfect job every time, but you must be dedicated. Study hard, learn from your mistakes and never give up. You’re going to fail, and that is OK, but it’s all about how you react to that failure that will help you in the long run.

3. Remember that small gains add up.

You are not going to make $1 million in one deal, and you aren’t going to make $1 million overnight. Most of my students and I have made our million dollar goals in small successes, with $1,000 gains at a time. You don’t need to make $100,000 in a single win to be on your way to being a millionaire. It doesn’t matter what you start with. My top student has now turned $1,500 into $2.7 million in 4 years.

Related: This Person Improved Every Tiny Thing by 1 Percent and Here's What Happened

4. Use alternative strategies.

There are so many traders who lose and investors who fail at the stock market because they aren’t thinking outside of the box. You must be willing to take alternative approaches to really find the success that you are looking for. Things like pump and dumps and short selling may not seem like the most logical step, but they can really make a difference and help you reach your goals. If you take a look at some of my live trades, you will see how often I take this approach.

5. Don’t expect success right away.

You are not going to reach your goal in a matter of days, weeks or even months. Don’t focus on how fast you can reach your goal, focus on learning and increasing your knowledge base first. This will help you make a stronger foundation for future success. Remember, profits come as a result of education.

6. Assume you have to work harder than everyone else.

So many of us want what others have, but we don’t get it. This causes so many people to make excuses for why other people have the financial success that we desire. Stop making excuses and just accept the fact that you are going to have to work harder than others to get what you want. It doesn’t matter that you are starting from scratch or that someone else has family money or walked into some financial success, in order for you to reach your goals, you are going to have to accept that you will need to work harder than everyone else.

7. Have the right motivations in place.

Don’t just work towards your goals for superficial reasons. Yes having money and notoriety is nice, but these are all superficial reasons for reaching your goals. Challenge yourself to be the best you can be and think of the rewards as a secondary benefit.

These tips aren’t the only thing you need either. In order to make a million dollars from scratch you need to put in the necessary hard work and dedication too. If you do, you may just find yourself making your first million faster than you ever thought possible.

Related: Want to Be Happy? Pick a Startup Model to Match Your Motivation.