For example, you'll purchase $8 worth of scratch-off tickets one morning and win $20 and $5. Not bad, you think! You then place $5 on the pick three game, purchasing $5 worth. You end up winning $40. Then you choose to put the $25 you won on the Powerball.
And you don't win anything on the Powerball. So, how did you do? You originally spent $8 on the scratch-off tickets. So before you entered the pick three, you were $17 ahead. You spent $5 on the pick three, so before you played Powerball, you were $52 ahead. So far, so good. After playing Powerball, you're precisely $27 ahead. After all that excitement, it looks like a disappointment, right?
Of course, you'll always say, "Well, I did come out ahead." Here's what you should have done. You were right in assuming you were on a roll, and you were right to take advantage of it. However rather than placing $25 on Powerball, you should have put only $5 on the game. Then you'd still be $47 on the upside. the mistake you made was a common one: placing the "$25 you won on the scratch-off tickets" on Powerball. The reality is, you did not win $25 on the instant tickets. Since you had to spend $8 to buy them, you won only $17.
Sometimes we've got a knack for conveniently forgetting our original investments. Next time, reinvest only the amount you began with or less. in this case, that would have been $8 or less. the most effective thing to do is to draw up a plan within which you spend an exact amount per month. Be consistent. Never, for any reason, go over this amount.
When you are on a roll, reinvest solely the amount you started with. put aside your regular amount for next month's playing, and place the rest of your profits in the bank, in a drawer, or in a shoe. this idea is used by players in the stock markets and other money markets and is a simple one: Let your profits ride, and cut your losses. remember that rule whenever you play the lottery, and you may begin to enjoy the lottery much more.
