Try to win lotto – or make your own luck

ONE fortunate Aussie could become $120m richer this week, thanks to the nation’s second-biggest Powerball jackpot. The odds of winning Powerball’s division one is 135 million to one, according to the Lott website.

So why do so many of us throw money at lotteries? Gambling experts suggest it flows from an inability to comprehend large numbers and insane odds, plus our tendency to overestimate chances of success.

Another way to receive big bucks by making your own luck, but this can often take several decades and a pile of patience. Many investments have delivered lotto-like results for long-term backers. Some seem like a crazy gamble, while others have proven themselves over many decades. Here are some examples.

CRYPTO: If you had the foresight to buy $100 of bitcoin in 2011, today it would be worth more than $4m. Cryptocurrencies are booming but their volatility remains scary. The biggest crypto, bitcoin, has doubled but then halved twice in the past 12 months.

FORTESCUE SHARES:

Billionaire Andrew Forrest’s Fortescue Metals Group has delivered the most spectacular long-term gains of any major Aussie company. Since it was founded in 2003, the iron ore company’s share price has climbed from 3c to $20.50.

APPLE SHARES: Several US tech giants have delivered massive returns. A $2000 investment in Apple in 2000 is today worth more than $1.2m.

HOUSE PRICES: Brisbane’s median house price rose from $34,500 in 1980 to $810,000, and Sydney from $65,000 to almost $1.4m.