Last updated on February 20, 2024
Hi Edvin, I am playing the lottery and I just have read all your topics about the game, I am amazed! I especially like your thoughts about mindset and planing the game! Very powerful and helpful! You have put a lot of time and effort into it! And everything is precious! Thanks for that! I have been wasting big enough money on lottery games until I run nearly out of my savings and then stopped. But time after time, I still try! My biggest winnings have been 100 euros and a couple of times 20 or 30! I had no plan, and I was shutting blindly! I understood this and was looking for some strategy, but there is nearly nothing to find! I do like to analyze things, and all that I found was pretty the same as what I was thinking after losing a lot of money, so nothing really what would help me to win! I am living and working in the Republic of Ireland for many years now, but originally I am from Latvia. I was playing Irish lotto, euro millions and also daily million, all at the same time, no success! Now I am thinking ( if I will play) to play only one at the time, maybe daily million happens twice a day and have 6/39, but to do this, I will need a considerable colossal budget. Still, things would happen faster, or Irish lotto as it has three draws for the same set of numbers with different payouts. The cost of the line is 3 euros! Also, I do understand that this is a kind of bad investment, might never win even with all good planning and mindset, can just run out of money, and then save again to continue. I am looking for financial freedom and thinking that the lottery might be one of the ways to achieve it! I am working hard every day getting an average salary, and if I do not change something, I will probably work hard until I retire! So I am looking for other solutions to live life, not keep working for the rest of my life! I am already doing small side hassle, amazon-eBay drop shipping in the US market but still very small, earning maybe a couple of hundreds per month! I also would want to look how I could start to invest money, but I don’t know where and how because it’s a very tricky thing and I have heard that it’s possible to lose money only on high broker or transaction charges if you don’t know where and how to invest correctly! I have two questions for you. If you don’t mind, one about playing the lottery and another one about investing in stock markets! (1) If I would go for the lottery, how many numbers would you recommend to choose from my combinations in 6/47 and 6/39? (2) Where would you recommend to start with investing in stock markets, where I could learn basics before I invest? Maybe you can suggest some books or something like that! I will finish here, thanks for your time reading all this long email! I highly appreciate that! Wishing you all the best, Mr. SN
Hi Mr. SN,
Thank you for writing in.
Stop playing the lottery for now and regularly invest like allocating 20% or 30% of your monthly salary to an INDEX FUND.1
If you invest in an index fund every month, you can retire with enough money to support yourself. In ten years, your money will grow exponentially. You have to wait and be patient for your money to grow. Because investment is not magic, it takes time for a tree to grow.
Now my advice only aims to give you a general idea. Investments differ in each country, so you must consult a certified financial expert. Googling “financial expert Ireland” might help. Understand that I cannot provide professional guidance as I don’t live in Ireland.
Aside from index funds, you can also try investing in REITs. Try googling “REITs Ireland.” You may allocate 10% of your monthly income to an index fund and 10% to a REIT.
Knowledge is crucial, so know what you are doing before acting. Take your time to study index funds and REITs by googling for one month. Then, look for a financial expert to discuss your situation. And hit that miraculous action words—DO IT.
Now I said stop playing the lottery. That doesn’t mean you can’t have much entertainment for yourself. I’m merely reinforcing that the lottery is not an investment if you want financial freedom.
If you want entertainment, you can sometimes buy an Irish lotto ticket.2 But make sure to pick the dominant group. You can use a Lotterycodex Calculator to determine this dominant group in your game.
Generated by Lotterycodex Calculator for the Irish 6/47 Game.
Alternatively, you can study the nitty-gritty aspect of lottery mathematics based on the concept of combinatorics and the application of probability theory.3 The general idea of a mathematical lotto strategy is knowing all the possible options and making an informed choice.
The lottery is like buying a ticket to the cinema. In both instances, you pay the price of a good time. The only difference is that you hold a ticket in the lottery that gets you to a life-changing windfall if you are lucky.4 So winning the lottery is a byproduct of being “in it to win it.” But given the odds, you need extraordinary luck for this to happen. That’s the reality you have to accept in a truly random game.5
So again, the lottery is never a profitable exercise.6 As I said, it’s just entertainment.
If you want to have a little bit of entertainment, play the lottery sometimes (with your friends) or watch movies. But focus on increasing your monthly income to add more money to your investments.
I hope that helps. :)
Best,
Edvin
