Dear readers, the prize money for Singapore TOTO next Monday (18 September 2023) is $10,000,000!
Yes, that’s $10 million! For those who are unaware and are interested in a punt, there is still one more day to place your bet.
Please do not be mistaken, I am not promoting gambling here, rather it is the opposite: I will like to share how each of us can play TOTO in a responsible manner here.
When it comes to playing lottery like TOTO, which is still a form of gambling, being responsible is key. Do not spend too much of your monies on lottery. One way to ensure we do not spend much of our savings in TOTO is to simply track how much we spend on Singapore Pool draws like TOTO.
For myself, I have tracked and year-to-date, I have spent around $70 on TOTO but not yet won anything. Since TOTO is so difficult to crack as it is purely a game of luck, I have refrained from punting in every TOTO draw. I reserve my ammunition (aka monies) these days on only draws where the prize monies is very attractive! Like the $10 million TOTO draw next Monday, where the good magnitude of prize monies is rare, except for Chinese New Year draws.
But I also do not assume that there will be only one winner whenever there is a large prize money. There can always be the possibilities of more than one winner to split up the prize monies into smaller shares each. But each share will still be very decent to each prize winner, I suppose!
If I do win the $10 million TOTO, one can consider to deploy it in an interest-bearing money instrument like fixed deposit or treasury bills. Considering a 3% annual interest, the interest payout alone is already very respectable at $300,000 per year or $25,000 per month!
And for many, $25,000 passive income per month easily exceeds one’s salary and this is really when one can start to live and work on his own terms!