Arguably, this is common sense, but Barbara Friedberg lays it all out and even does the math.
Step 1: Get a jar. Or an envelope. Whatever works for you. (You can even buy purpose-built ones.)
Step 2: When you want to buy a lottery ticket, take the money you would have spent and put it in the jar instead.
Step 3: Deposit this money in a savings account.
Say you spend $20 a week on lottery tickets, between scratchoffs and lotto tickets. If you deposit that money instead, that’s $1,040. If you maintain the savings habit instead of the lottery habit for ten years, assuming that savings account interest rates eventually go up a bit, you could have $11,031 in the account.
Using this innovative lottery strategy, you are guaranteed to win. You can’t say that for a lottery ticket.
BEST WAY TO PLAY THE LOTTERY (YOU’RE NOT GOING TO LIKE IT) [Barbara Friedberg] (via Rockstar Finance)