A jackpot lottery is a type of lottery where players can purchase multiple tickets for the same prize. While these games can be fun, they’re not very profitable for the state governments that run them. In fact, most states are better off spending their lotto money on education, health and public safety programs. But people still love to play and dream. The biggest jackpot lottery winners are not only affluent, but also well-educated and have the best financial skills. This is why most experts advise against playing.

In fact, the odds of winning are much lower than getting struck by lightning or dying in a car crash. But that doesn’t stop people from attempting to improve their chances by using strategies like avoiding common number patterns or buying multiple tickets.

When someone wins the lottery, they can choose to receive a lump sum payout or an annuity that pays them a certain amount over 30 years. The annuity option is a great idea if you want to invest the money, but at today’s record-high interest rates the money will only grow by about 5 percent over three decades.

Most jackpot lottery winners opt for the lump sum. That’s because they figure they can do better with the money by investing it themselves. They should start by paying off debt, setting up college savings accounts and diversifying their investments. They should also hire a crack team of helpers including an estate planner and a financial adviser to handle the complex legal and tax issues that come with such large amounts of money.