To Buy Lottery Tickets or to Bet on Lottery Results?
Wow, did discussing purchasing lottery tickets versus betting on lotteries open up some interesting discussions? Traditionalists definitely wanted real purchased tickets and in some cases to actually hold the real paper. Neo-players (is there such a word) felt there was no difference between betting on lotteries and buying tickets. There were some that really liked the concept of being able to bet on different combinations. So what is the difference?
Betting versus Purchasing
Everyone agreed that betting on and actually purchasing lottery tickets is gambling. Players are playing against specific odds. Playing with real tickets, the odds are established by the specific lottery. Betting can be a little different depending on what the game is.
Betting When the Game Is the Same
There are several different ways to bet on published lotteries. Take Worldlotteryclub.com which uses the results from specific lotteries and pays out on the published amounts. The only difference is most of the time, winning paid on jackpots are lump sums with no annuity wins. That’s pretty straightforward.
Betting When the Game Is not the Same
There are other sites that provide different combos and the amount you win relates directly to how much you bet. These also don’t pay the full scale of different tiers and instead you – the player – are betting on getting a specific number of numbers correct. They also offer weird and wonderful combination bets which most of our team found darn right confusing. The big thing you – the player – have to remember is if you’ve bet on getting three numbers correct, you must get those three numbers. Even if you get two correct, you will not win anything.
Why Play When the Game Is not the Same
These kinds of betting games are getting popular because though the prizes/winnings are usually less, the odds are usually better. Players also can choose how much they want to wager which can increase their prize.
Betting versus Buying Tickets – How Do They Do It?
Of course, one of the questions that everyone seems to ask is, if they haven’t bought the ticket, where do the winnings come from? How can I be sure I’ll get my money? Most online lottery betting sites use an insurer to cover the jackpots and bigger winnings. The most popular seems to be a German crowd called Emirat. The big thing is to ask who is betting site’s insurer is and read the small print.
Getting Your Winnings
Yes, this is when the small print does become important. Many of the betting sites set a time frame for getting your winnings. This is because they have to process the paperwork with the insurer. The time frame ranges from different lottery betting providers so make sure you ask the question. With online lottery providers who actual purchase the tickets, there seem to be more and more sites that say players with winnings over USD 600, players have to get their money themselves. Again, check the small print to see if they have a threshold and how it impacts your getting your winnings.
The Bottom Line
Gambling is gambling, whether buying real tickets (online or through the local corner store) or betting on what a real lottery will publish as its numbers. It’s simply important to make sure you know the terms and conditions that you are playing under – for both!
You Have to Play to Win
Check the Terms & Conditions
Betting – Confirm the Insurer
Buying Tickets – Make Sure They Do It!
Even after the discussions with so many people, we couldn’t get any agreement on which was better – purchasing lottery tickets or betting on lotteries. Both work; though make sure you are confident who you are playing through!