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Lottery Odds

There are any number of lotteries run in all four corners of the globe, and using the internet it is now possible to place bets on lotteries in different countries no matter where you live.

Lotteries are unique in that they offer the chance to win enormous sums of money with very little outlay. This means that for less than the price of a cup of coffee you could potentially win multi-million dollar jackpots.

Major Lottery Jackpots

In the past it was only possible to win the lottery originating from your own country, but today you can bet on the outcome of lotteries from Australia to Hong Kong to Brazil from the comfort of your own home.  That includes the opportunity to win some of the largest lottery jackpots on the planet, such as the American Powerball and MegaMillions lotteries as well as EuroJackpot and EuroMillions.

Let’s take a look at some of the biggest jackpot pay-outs from lotteries around the world:

Lotto                                                         Biggest Jackpot

Irish Lotto                                                 £14.5 million
UK Lotto                                                   £66 million
EuroMillions                                              £161 million
MegaMillions                                            £410 million
PowerBall                                                 £1.119 billion

There is no doubt that the granddaddy of all lottery jackpots belongs to the Powerball lottery from the States which is responsible for 11 of the 15 highest jackpot sums ever paid out.

Jackpot Winning Odds

Of course apart from the potential jackpot, it is also vital to consider the odds of winning the lottery jackpots you plan to place a bet on. So what are the odds of winning one of these monster jackpots?

Lotto                                                        Jackpot Odds

Irish Lotto                                                1 in 10,737,573
UK Lotto                                                  1 in 45,057,474
EuroMillions                                             1 in 116,531,800
MegaMillions                                            1 in 258,890,850
PowerBall                                                 1 in 292,201,338

As you can see from the table above, the PowerBall odds are a little longer than its nearest rival, the MegaMillions lottery. However, the potential reward is considerably greater as well so both of these factors need to be taken into account before placing a bet. The minimum jackpot available for the MegaMillions lottery is set at around £9 million, whereas the PowerBall jackpot will never be less than £26 million.

Apart from the top jackpot prize there are also different tiers with prizes awarded for matching one or more balls from the lottery draw. For an entry fee starting from £3 it is possible to place a bet on either the PowerBall or MegaMillions lotteries with the possibility of winning a prize on the giant PowerBall as little as 55:1.

How to Bet on Lotteries

The process of betting on lotteries is basically the same way you would play your own national lottery. Simply select the numbers – for example PowerBall requires you to choose 5 numbers of 1-69 plus a PowerBall number between 1-26. Then place your bet and choose which lottery draw (or draws) you want to bet on. After that it’s just a case of waiting for the balls to be drawn by the official lottery operators and you win according to how many balls you chose have matched the official draw.

Betting on Lotteries is one of the simplest bet types available, as well as being the one which can offer the largest return for the lowest stake. For those reasons, lottery bets remain one of the most popular betting options in countries all over the world.