Why You Shouldn’t Bet Your Savings on the ‘6/58 Ultra Lotto

Why You Shouldn’t Bet Your Savings on the ‘6/58 Ultra Lotto’

Whether in malls or lottery booths, you’ll find long lines of people placing their bets to win the 6/58 Ultra Lotto jackpot. With more than ₱1B as the jackpot prize, it’s easy to imagine how you can spend all that money—from international trips to buying property.

According to a report by Inquirer.net, the Philippine Charity Sweepstakes Office (PCSO) said that the odds of winning the 6/58 Ultra Lotto jackpot is 1 in 40.4M. It has also been revealed that even foreigners can bet and win in this lotto category as well as other Philippine lotto draws. 

“Foreigners can win the jackpot prize if they bought a ticket as long as they are 18 years old and above, which is the age requirement, and as long as the claimant has the winning ticket,” PCSO General Manager Alexander Balutan said.

Before you actually jump on the bandwagon and dream about winning the next draw, which happens every Sunday, Tuesday, and Friday, it’s important to ask yourself one question: “Do I have to bet my savings on the 6/58 Ultra Lotto?”

Think of it this way: If you win the jackpot, it will definitely help you and your family live a more comfortable life. You can pay off your debts. You can travel the world. You can do anything with that much money in your hands. Unfortunately, as we’ve mentioned above, there’s a tiny chance for the jackpot to be won—unless you place bets using all combinations. 

But instead of leaving your fate to the lotto results, why don’t you look for better ways to grow your hard-earned money? Here are some ideas to help you get started:

  • Grow your own garden of fruits and vegetables (tomatoes, calamansi, chili peppers, and beans) which you can sell to your neighborhood. This is also a way to beat the effects of inflation.
  • Unleash your special skills to earn additional income. Crocheting, designing via Adobe Photoshop or Illustrator, or baking cookies and cupcakes can help make some extra cash without having to sacrifice your day job.
  • Hold a ‘garage sale’ so you can put the things you don’t need to good use. You can utilize Facebook to advertise your event, so more people can reach it.
  • Watch out for promos and discounts when shopping for groceries. Look for the aisle where discounted items are being displayed. 
  • Keep a savings account to secure your money as it earns interest. Interest rates vary from bank to bank, but they range between 0.10% and 1.75%. 

People Also Read:

Visit our blog for more tips on handling your finances wisely. Start saving for the future by comparing the best savings accounts via GoBear.