RE: Beating the Lottery Odds - Part One

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Beating the Lottery Odds - Part One

in gaming •  6 years ago 

Damn! I had to scroll through a load of Huff Guff just to get to the point of the story.

The brochure listed the odds of various correct guesses. Jerry saw that you had a 1-in-54 chance to pick three out of the six numbers in a drawing, winning $5, and a 1-in-1,500 chance to pick four numbers, winning $100. What he now realized, doing some mental arithmetic, was that a player who waited until the roll-down stood to win more than he lost, on average, as long as no player that week picked all six numbers. With the jackpot spilling over, each winning three-number combination would put $50 in the player’s pocket instead of $5, and the four-number winners would pay out $1,000 in prize money instead of $100, and all of a sudden, the odds were in your favor. If no one won the jackpot, Jerry realized, a $1 lottery ticket was worth more than $1 on a roll-down week—statistically speaking.

https://highline.huffingtonpost.com/articles/en/lotto-winners/

That's all we needed to know, Huffy!

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Spoilsport!