Use a Lottery Simulator to Play the Lotto and Save a Dollar

Winning a Lottery

Wondering what your odds are of winning a lottery such as the the mega millions? The quick answer obviously, is to simply read the odds revealed in print, but reading the odds doesn't stop most people from playing, as they hope they just might be 'the lucky one'!

Compare Investing One Dollar a Day

  • Rather than playing the lotto, consider investing $1.00 a day - minimum.
  • If you save the $1.00 each day you would have normally played a $1.00 lottery ticket, and calculate how much that can add up over time. It may not seem like much, but the time value of money does add up as more time goes by!

Time Value of Money - How Much a Dollar a Day is Worth

  • Let's assume an interest rate of only 3% on the money (compounded interest), which is roughly that of the average inflation rate in the USA over the last 30 years.
  • Next, we'll do a calculation at a higher rate of return on $1.00 a day at 8% compounded interest. Let's also assume you saved $1.00 a day for 365 days of the year, rather than playing the lottery daily. Here's the results:

Saving $1.00 a Day with 3% Compounded Interest Rate

1 Year: $375.95
3 Years: $1,162.02
5 Years: $1,995.97
7 Years: $2,880.70
10 Years: $4,309.85
15 Years: $6,992.26
20 Years: $10,101.92
25 Years: $13,706.86
30 Years: $17,885.98
35 Years: $22,730.72

Saving $1.00 a Day with 8% Compounded Interest Rate


1 Year: $394.20
3 Years: $1,279.73
5 Years: $2,312.61
7 Years: $3,517.37
10 Years: $5,710.60
15 Years: $10,703.36
20 Years: $18,039.37
25 Years: $28,818.36
30 Years: $44,656.24
35 Years: $67,927.28

Potential Growth of Small Investment


  • The potential growth on only $1.00 a day, can you really afford to play the lottery when the odds are stacked so high against you?
  • Higher rates of return can be achieved by investing in the market, but don't overlook the higher risk as well.
NOTE:
The above calculations are assuming a lump sum of $365.00 invested the beginning of a year, rather than investing $1.00 a day. This article originally spoke of the MegaMillions Lottery Simulator, of which I later decided was not a good place to link to. I've edited the article to instead reflect your opportunity to invest a dollar a day!