Mario, since you seem to be a statistics guy, maybe you can answer this for me.
Of the "conventional" lotteries (6/49, lottomax wester 6/49 etc), which one has the highest expected value payout per dollar spent?
You know, if you have a 1 in one million chance of winning a one million dollar prize, your expected value is $1. If that ticket costs $2, then yur e3xpected value is $0.50 per dollar spent.
This kind of calculation is much easier for things like the stampede lottery, or the home lotteries, as they have a limited number of tickets sold, no split prizes, and a known prize value.
Years ago, I tried to do this calculation, but given the variable payouts based on ticket sales, and the hard to define chance of multiple people buying the same numbers, I never made any headway. Maybe you can do better?
I garantee someone at the lottery corp knows this stuff, it's not impossible.
Make fun of me in the 2017 Tow Rig thread!
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