Professor Explains Why Your Chances Of Winning "Powerball" Are Next To None!

[Joel_Jantsen]

I deliberately posted this video in the gambling section because this Statistics professor gives nice insights how probability works and the concept remains the same weather it be lottery or a jackpot.The video might motivate you a little.

http://www.worldstarhiphop.com/videos/video.php?v=wshh35K0oY8B8E8X4Z0z

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[Pony789]

I deliberately posted this video in the gambling section because this Statistics professor gives nice insights how probability works and the concept remains the same weather it be lottery or a jackpot.The video might motivate you a little.

http://www.worldstarhiphop.com/videos/video.php?v=wshh35K0oY8B8E8X4Z0z

It is nothing surprising TBH. For those interested in it, you can find on https://en.wikipedia.org/wiki/Powerball#Prizes_and_odds the odds of winning each prize.

[thejaytiesto]

Everyone knows winning the big prices in lottery are next to impossible. Of course, even the smallest prices are hard to nail ( I have only won the lottery 2 times and they were the smallest prices you could get, so that's less than 300 dollars in total) so you can imagine. But it's just like gambling, it's all about the thrill of that small, small opportunity of winning.

[DuddlyDoRight]

It'd cost you over five hundred million dollars to play every possible number guaranteeing jackpot. They are picked by using two rolling cage barrels with ping pong balls. One with 1-64 balls one with 1-26 balls. The odds are around 1:292000000(not exact just use combinatorics) at $2.00 a ticket and $3.00 with the randomly selected "POWER PLAY" multiplier which is 2x-10x.

By The Way:

• No edge picking your own numbers
• No edge playing when there are less people buying tickets(numbers aren't picked from registered buys)
  
• Around $340.00 to play 5 numbers with "POWER PLAY" using "MULTIDRAW" at 26 draws. Doesn't give edge just saves you time, gas, wear on vehicle

All lotteries and casino games have house odds that's why the house can payout so much. But someone somewhere will win a lot sometimes and that is what makes you play.

[edmundduke]

The chances are pretty much non existent as proven. It should not come as a surprise to anyone tho that the chances are so small. Even if it is nearly impossible to win it doesn't really hurt to get a ticket. I dont play lotto often but i do get a ticket from time to time just for the fun of it.

[DuddlyDoRight]

The chances are pretty much non existent as proven. It should not come as a surprise to anyone tho that the chances are so small. Even if it is nearly impossible to win it doesn't really hurt to get a ticket. I dont play lotto often but i do get a ticket from time to time just for the fun of it.

It does actually.. Most people who buy lottery tickets in the US make $9,000.00-$38,000.00(not data but they have to that's almost the entire salary range for the US just about the entire US adult population). That's 0.02%-0.01% of their annual income which, since people typically spend the same margin of their income no matter their salary(old economic stuff), is coming out of around 11% of that salary, so at $38,000 is around $4,400.00 a year worth of disposable income. That's one ticket per year..

That's now 0.04% of that $38,000.00->$4,400.00 a year for one ticket. One ticket a week is 2.18% and so on.. Remember kids.. we only get around 35 years of earning money before we die and if you werent gifted a house you'll spend at least a third of it towards that..

[Raimonn]

All the people new that is near impossible, but there is one possibility (from millions) to win it, and its a very big prize, and all the players think what to do with this amount of money, and dreaming is only 2$. Everyone dreams to be a millionaire.

[UnknownUsername]

Ah, its still a good amount to win though betting small and you might get rich for a lifetime. My dad won in a lottery worth $1,000+ but it took like 2 years for him to win it if only he got the last digit. We would be cruising around the world right now. 

[xhomerx10]

It'd cost you over five hundred million dollars to play every possible number guaranteeing jackpot. They are picked by using two rolling cage barrels with ping pong balls. One with 1-64 balls one with 1-26 balls. The odds are around 1:292000000(not exact just use combinatorics) at $2.00 a ticket and $3.00 with the randomly selected "POWER PLAY" multiplier which is 2x-10x.

By The Way:

• No edge picking your own numbers
• No edge playing when there are less people buying tickets(numbers aren't picked from registered buys)
  
• Around $340.00 to play 5 numbers with "POWER PLAY" using "MULTIDRAW" at 26 draws. Doesn't give edge just saves you time, gas, wear on vehicle

All lotteries and casino games have house odds that's why the house can payout so much. But someone somewhere will win a lot sometimes and that is what makes you play.

So I just did the combinatorics and the result is  1:198,237,312 for the parameters 5 balls from 1-64 and one with 1-26.  How did you get 1:292000000?  Are you factoring in a multiplier or the cost of a ticket or something??

[DuddlyDoRight]

It'd cost you over five hundred million dollars to play every possible number guaranteeing jackpot. They are picked by using two rolling cage barrels with ping pong balls. One with 1-64 balls one with 1-26 balls. The odds are around 1:292000000(not exact just use combinatorics) at $2.00 a ticket and $3.00 with the randomly selected "POWER PLAY" multiplier which is 2x-10x.

By The Way:

• No edge picking your own numbers
• No edge playing when there are less people buying tickets(numbers aren't picked from registered buys)
  
• Around $340.00 to play 5 numbers with "POWER PLAY" using "MULTIDRAW" at 26 draws. Doesn't give edge just saves you time, gas, wear on vehicle

All lotteries and casino games have house odds that's why the house can payout so much. But someone somewhere will win a lot sometimes and that is what makes you play.

So I just did the combinatorics and the result is  1:198,237,312 for the parameters 5 balls from 1-64 and one with 1-26.  How did you get 1:292000000?  Are you factoring in a multiplier or the cost of a ticket or something??

It's actually 69 and 26. I don't play it so I don't remember the specifics.

About the only intelligent material on it on the entire internet: http://www.durangobill.com/PowerballOdds.html


Either way it's house odds with no way to game it since they don't draw from anything influenced by ticket buyers.. The psychological effect where people learn about the winners is where all the magic happens. They can typically not have to pay out and pay out such numbers and always be ahead, but nobody really comprehends the odds or the time so the herd(potential and consistent ticket buyers) stays manageable..

It's no different from the psychology you find in Las Vegas and other currency traps,,, sweepstakes''''

[xhomerx10]

It'd cost you over five hundred million dollars to play every possible number guaranteeing jackpot. They are picked by using two rolling cage barrels with ping pong balls. One with 1-64 balls one with 1-26 balls. The odds are around 1:292000000(not exact just use combinatorics) at $2.00 a ticket and $3.00 with the randomly selected "POWER PLAY" multiplier which is 2x-10x.

By The Way:

• No edge picking your own numbers
• No edge playing when there are less people buying tickets(numbers aren't picked from registered buys)
  
• Around $340.00 to play 5 numbers with "POWER PLAY" using "MULTIDRAW" at 26 draws. Doesn't give edge just saves you time, gas, wear on vehicle

All lotteries and casino games have house odds that's why the house can payout so much. But someone somewhere will win a lot sometimes and that is what makes you play.

So I just did the combinatorics and the result is  1:198,237,312 for the parameters 5 balls from 1-64 and one with 1-26.  How did you get 1:292000000?  Are you factoring in a multiplier or the cost of a ticket or something??

It's actually 69 and 26. I don't play it so I don't remember the specifics.

About the only intelligent material on it on the entire internet: http://www.durangobill.com/PowerballOdds.html


Either way it's house odds with no way to game it since they don't draw from anything influenced by ticket buyers.. The psychological effect where people learn about the winners is where all the magic happens. They can typically not have to pay out and pay out such numbers and always be ahead, but nobody really comprehends the odds or the time so the herd(potential and consistent ticket buyers) stays manageable..

It's no different from the psychology you find in Las Vegas and other currency traps,,, sweepstakes''''

 Those numbers work much better.  I can't play the draw where I live but I would buy a ticket if it were available even though the odds are astronomical.  It's only two bucks and as you said, "somebody somewhere will win..."

[ftwbtc1]

The power ball is nothing more than a tax on the poor and the hypocrisy of governments to even allow lotteries while not allowing poker or sports gambling is absurd.  The government outlaws poker and sports gambling where if you are skilled you can actually win A LOT of money, but allows you to waste your money playing the lottery which is the purest form of possible chance of any game. 

This 1.6 billion dollar prize is also another contrived act by the government to reinvigorate the lottery after lagging sales by making the chances of winning less thus creating a higher pot. 

I feel sorry for most Americans who participate in the lottery because they are wasting money that they desperately need. 

[The Sceptical Chymist]

Someone said that lotteries are a tax on the mathematically-challenged, and I'd agree with that.  Chances are next to zero, and the odds are against you always, so why play at all?  For some people it's fun, but I hate throwing money away like that.

[sherbyspark]

And apart from that the you are 8 times more likely to die if you drive to buy a lottery(powerball) ticket /

Source: https://www.reddit.com/r/todayilearned/comments/40ol2d/til_that_if_you_drive_one_mile_to_the_convenience/

[DuddlyDoRight]

Before any of you pass judgment on these ticket buyers realize this is the same psychology that people use when they buy a house for $8,000,000 while making $2,000,000 a year instead of the $250,000 house they would when making $34,000 a year and so on..

You read 1/3 of any level of economics book this is stated..

People are typically stupid. Capital doesn't really change that and acquiring wealth rarely comes because someone is just disproportionately smarter or more hard working..

[debuni]

National lotteries are the worst time of gambling with the biggest "house edge" in existence.
And I'm sick of people giving 1/3 of their salaries for lottery tickets to explain me how bad is to gambler on sport or playing poker and how they are not gamblers and addicted at all...

[Superhitech]

Someone said that lotteries are a tax on the mathematically-challenged, and I'd agree with that.  Chances are next to zero, and the odds are against you always, so why play at all?  For some people it's fun, but I hate throwing money away like that.

Some people just want to try their luck, they view it as only a few dollars for the ticket, and they might get lucky and win the jackpot.
There's huge odds against them, but they buy in the hope they might win the huge jackpot. I don't think these people play for profit like poker players do.

[bitbaby]

I think most people are aware of this, that there is almost no chance of winning anything from these Lotteries but still they are not worried about throwing away a few dollars on them because it gives them a hope. Its foolish but can't tell people how they shouldn't spend their money. There are people who still fall for Ponzi/HYIP/Cloud-Mining schemes, I put them in the same category.

[Umworpol]

Thier business trick is like this .

" I don mind spending a $2 on a ticket a month or so to try out my luck "

Ching Chang heres comes the money .

[krunox123]

This is not a new thing and everyone is aware of it. I'm not surprised, TBH.

[bitcoinpete]

Lotery= Tax for Idiots

[Wendigo]

I heard that post-tax the clear profit will be approx. $300 million but I would think it is going to be much more than that perhaps $600 million. I am not familiar with the US taxation system anyways.

[edmundduke]

The chances are pretty much non existent as proven. It should not come as a surprise to anyone tho that the chances are so small. Even if it is nearly impossible to win it doesn't really hurt to get a ticket. I dont play lotto often but i do get a ticket from time to time just for the fun of it.

It does actually.. Most people who buy lottery tickets in the US make $9,000.00-$38,000.00(not data but they have to that's almost the entire salary range for the US just about the entire US adult population). That's 0.02%-0.01% of their annual income which, since people typically spend the same margin of their income no matter their salary(old economic stuff), is coming out of around 11% of that salary, so at $38,000 is around $4,400.00 a year worth of disposable income. That's one ticket per year..

That's now 0.04% of that $38,000.00->$4,400.00 a year for one ticket. One ticket a week is 2.18% and so on.. Remember kids.. we only get around 35 years of earning money before we die and if you werent gifted a house you'll spend at least a third of it towards that..

If one plays as often as this then for sure, it will become a burden. Overall the amount grows to a really big amount and will become noticable. But when you look at it this way. Would one rather get a ticket or would rather buy a (burger ? coke ? or what ever junk) then the ticket is not as bad. You get a small chance of a fortune instead of gaining weight.

[btcprospecter]

The chances of winning are pretty low however it is much higher than if you did not buy a ticket. You have to be in it to win it. If you do ever win big it is down to chance or luck lottery is almost always gambling at a loss. Better putting that couple of bucks on a horse or something with better odds.

[xhomerx10]

 Even though the odds of any one of us winning are next to none, three winning tickets were sold!

[DuddlyDoRight]

The chances are pretty much non existent as proven. It should not come as a surprise to anyone tho that the chances are so small. Even if it is nearly impossible to win it doesn't really hurt to get a ticket. I dont play lotto often but i do get a ticket from time to time just for the fun of it.

It does actually.. Most people who buy lottery tickets in the US make $9,000.00-$38,000.00(not data but they have to that's almost the entire salary range for the US just about the entire US adult population). That's 0.02%-0.01% of their annual income which, since people typically spend the same margin of their income no matter their salary(old economic stuff), is coming out of around 11% of that salary, so at $38,000 is around $4,400.00 a year worth of disposable income. That's one ticket per year..

That's now 0.04% of that $38,000.00->$4,400.00 a year for one ticket. One ticket a week is 2.18% and so on.. Remember kids.. we only get around 35 years of earning money before we die and if you werent gifted a house you'll spend at least a third of it towards that..

If one plays as often as this then for sure, it will become a burden. Overall the amount grows to a really big amount and will become noticable. But when you look at it this way. Would one rather get a ticket or would rather buy a (burger ? coke ? or what ever junk) then the ticket is not as bad. You get a small chance of a fortune instead of gaining weight.

Every working-poor and poor persons logic no matter how conscious and educated they are: I'm a talented investor but this $100.00 bill I have would take decades to turn in to tens of thousands or even thousands of dollars since >=100% profit is rare.. Fuck it I'll buy what looks like better odds towards prosperity..

They are actually right too, but that slow grind that only your next generation will benefit from has far better odds. A shitty $23,000 house is even better than hurry up get a job before thousands of dollars in bills comes in thirty more days..

[shanem]

The chance of winning the first prize for the lottery is extremely low but it is one of the only way for the working class to dream of becoming rich.
Many people will still continue to buy the lottery for the hope.

[DeathAngel]

3 people won I think, sharing the jackpot so obviously the professor is right but the 3 winners will be glad they didn't listen to him.

[aizzaku]

I deliberately posted this video in the gambling section because this Statistics professor gives nice insights how probability works and the concept remains the same weather it be lottery or a jackpot.The video might motivate you a little.

http://www.worldstarhiphop.com/videos/video.php?v=wshh35K0oY8B8E8X4Z0z

you know what.. most of the people.. even if they have played and lost and all sorts.. they know this .. but still playing.. i guess it just for the fun and anxiety

but yes a motivational video for addicts u mean ? or what?

[RodeoX]

Lotery= Tax for Idiots

LOL, that's a good one.
I always tell people that I'm hopeful of winning the lottery using my system of trying to find discarded winning tickets. As unlikely as that may seem my odds are only slightly less than if I buy tickets.

[znickelbackz]

win that lottery doesn't mean his life will be good. i hope not, but it may continue in a very bad way. few years pass and he may lose much more things that he gains today. it's not that much to worth dream of.

[mobnepal]

Lots of people have already won jackpots worth of millions so people will keep on trying to get lucky onetime to be one of those winners. Although the chance of winning is so so so low, people will not leave that little chance to win after seeing some of those lucky winners in tv frequently. People are greedy by nature.

[Divinespark]

Odds of 1 in 292 million! I saw a tweet that said the likelihood of bitcoin's collision resistant property being breached is higher than winning the jackpot!

[xhomerx10]

Lotery= Tax for Idiots

  What is the annual tax burden due to state-sanctioned gambling on one who can't properly spell the word "lottery"?

[xhomerx10]

Odds of 1 in 292 million! I saw a tweet that said the likelihood of bitcoin's collision resistant property being breached is higher than winning the jackpot!

 Yes, incomprehensibly higher.

[RodeoX]

Odds of 1 in 292 million! I saw a tweet that said the likelihood of bitcoin's collision resistant property being breached is higher than winning the jackpot!

[NorrisK]

Isn't that why people gamble in the first place? The risk they take and the chance to win big are exciting!

Your body releases massive amounts of endorfines when betting and this makes you feel good. That's why people gamble and play lotteries.

Ofcourse the chance of winning the powerball are next to none, but the fact that there is a chance makes you interested. Nobody expects to hit the jackpot, but it may just happen.

[foggyb]

Someone said that lotteries are a tax on the mathematically-challenged, and I'd agree with that.  Chances are next to zero, and the odds are against you always, so why play at all?  For some people it's fun, but I hate throwing money away like that.

Most people realize they have almost no hope of winning due to probability alone. I think the reason many people play anyway, is because of some metaphysical idea or wish that might somehow negate the probabilistic odds that stacked against them.

[smho_16]

Thier business trick is like this .

" I don mind spending a $2 on a ticket a month or so to try out my luck "

Ching Chang heres comes the money .

Totally agree above.
Everyone just spend a little for a 'hope'...
They are all know it needs miracle to win

[HarryKPeters]

I deliberately posted this video in the gambling section because this Statistics professor gives nice insights how probability works and the concept remains the same weather it be lottery or a jackpot.The video might motivate you a little.

http://www.worldstarhiphop.com/videos/video.php?v=wshh35K0oY8B8E8X4Z0z

I am not surprised with the explanation. like krunox said everybody knows this. Even the addicts.
They just chose to ignore it, hoping they are the chosen one to beat the system.

That's life though.

[Slark]

I deliberately posted this video in the gambling section because this Statistics professor gives nice insights how probability works and the concept remains the same weather it be lottery or a jackpot.The video might motivate you a little.

http://www.worldstarhiphop.com/videos/video.php?v=wshh35K0oY8B8E8X4Z0z

As others said something like this as an explanation was expected. But I am not sure that you all know fun fact: 'probability of conception'.
It seems that odds that you - are you are ultra mega hyper low. In fact the odds that you exist are basically ZERO.

[darkangel11]

People have tried to deter others from buying lottery tickets for decades and it never worked. You can explain, but to most people all that matters is the thrill. You buy the ticket, dream about the money, feel the excitement... and then you don't win and life goes on.

[cazkooo]

People have tried to deter others from buying lottery tickets for decades and it never worked. You can explain, but to most people all that matters is the thrill. You buy the ticket, dream about the money, feel the excitement... and then you don't win and life goes on.

There is no reason on why to not buy a lottery tickets because with just small amounts of money you could get a life changing opportunity . This opportunity may or may not come to you but you will never know unless you try so it is much better to buy lottery tickets rather than sitting out using your money for hookers atleast

[ifightformerkel]

You need no professor to see that win a lottery is very hard, but you CAN win when you play it.

But when you dont play then the chance is 0.

You dont must win the jackpot only,
the second class in our lottery is also a lot of money and the chances are a lot of bigger or the smaller classes,
so the chance to win your money back are not so low how you think.

[DuddlyDoRight]

I'll point out another common misconception, math based: 1:292' doesn't mean there are 292' possible numbers. It means the combination of your numbers being picked are one 1 in every 292'.. You'll be surprised how often this happens even on big journalism and news sites..

Then, the amount of ticket sales dictates chances to win, is the second most common misconception. They draw from tumbling barrels..

The possible powerball numbers are in the trillions..

[Sir_lagsalot]

May I point out you really don't need a professor to tell you your chances of winning the LOTTERY. Especially the POWERBALL.

You need no professor to see that win a lottery is very hard, but you CAN win when you play it.

But when you dont play then the chance is 0.

You dont must win the jackpot only,
the second class in our lottery is also a lot of money and the chances are a lot of bigger or the smaller classes,
so the chance to win your money back are not so low how you think.

They might be not as low as he says, but they are still significantly low. As in 0.00001%.

[DuddlyDoRight]

May I point out you really don't need a professor to tell you your chances of winning the LOTTERY. Especially the POWERBALL.

You need no professor to see that win a lottery is very hard, but you CAN win when you play it.

But when you dont play then the chance is 0.

You dont must win the jackpot only,
the second class in our lottery is also a lot of money and the chances are a lot of bigger or the smaller classes,
so the chance to win your money back are not so low how you think.

They might be not as low as he says, but they are still significantly low. As in 0.00001%.

Probability, combinations, and permutations are taught at age 12 in "dumb" countries. There is no second guessing here.

The odds for powerball are nCr * nCr.. Jackpot is exactly 0.000000003422 in probability

[xhomerx10]

I'll point out another common misconception, math based: 1:292' doesn't mean there are 292' possible numbers. It means the combination of your numbers being picked are one 1 in every 292'.. You'll be surprised how often this happens even on big journalism and news sites..

Then, the amount of ticket sales dictates chances to win, is the second most common misconception. They draw from tumbling barrels..

The possible powerball numbers are in the trillions..

 You lost me at "misconception".  What are you trying to say?  There are in fact C(69,5) X C(26,1) possible combinations.  If you have one ticket, the probability of winning the top prize is exactly 1/292201338 and the odds of winning top prize are 1:292201337

 Why are you saying the possible powerball numbers are in the trillions?

[DuddlyDoRight]

I'll point out another common misconception, math based: 1:292' doesn't mean there are 292' possible numbers. It means the combination of your numbers being picked are one 1 in every 292'.. You'll be surprised how often this happens even on big journalism and news sites..

Then, the amount of ticket sales dictates chances to win, is the second most common misconception. They draw from tumbling barrels..

The possible powerball numbers are in the trillions..

 You lost me at "misconception".  What are you trying to say?  There are in fact C(69,5) X C(26,1) possible combinations.  If you have one ticket, the probability of winning the top prize is exactly 1/292201338 and the odds of winning top prize are 1:292201337

 Why are you saying the possible powerball numbers are in the trillions?

That's the total combinations. Total permutation of combinations is in the trillions.

[xhomerx10]

I'll point out another common misconception, math based: 1:292' doesn't mean there are 292' possible numbers. It means the combination of your numbers being picked are one 1 in every 292'.. You'll be surprised how often this happens even on big journalism and news sites..

Then, the amount of ticket sales dictates chances to win, is the second most common misconception. They draw from tumbling barrels..

The possible powerball numbers are in the trillions..

 You lost me at "misconception".  What are you trying to say?  There are in fact C(69,5) X C(26,1) possible combinations.  If you have one ticket, the probability of winning the top prize is exactly 1/292201338 and the odds of winning top prize are 1:292201337

 Why are you saying the possible powerball numbers are in the trillions?

That's the total combinations. Total permutation of combinations is in the trillions.

 For any given draw, only one combination is valid.  There can be only one permutation of that one combination.  You're just being a fuckoff aren't you?

[DuddlyDoRight]

I'll point out another common misconception, math based: 1:292' doesn't mean there are 292' possible numbers. It means the combination of your numbers being picked are one 1 in every 292'.. You'll be surprised how often this happens even on big journalism and news sites..

Then, the amount of ticket sales dictates chances to win, is the second most common misconception. They draw from tumbling barrels..

The possible powerball numbers are in the trillions..

 You lost me at "misconception".  What are you trying to say?  There are in fact C(69,5) X C(26,1) possible combinations.  If you have one ticket, the probability of winning the top prize is exactly 1/292201338 and the odds of winning top prize are 1:292201337

 Why are you saying the possible powerball numbers are in the trillions?

That's the total combinations. Total permutation of combinations is in the trillions.

 For any given draw, only one combination is valid.  There can be only one permutation of that one combination.  You're just being a fuckoff aren't you?

Kind of but the powerball number makes permutation matter since <5 non-powerball numbers have absolute shit prizes even by ghetto standards.. 4+0 with a 10x multiplier won't buy you a ten year old car with a blown motor and buys ghetto food for two-months tops(it's $1,000.00).

Just to give everyone a big picture perspective and since this will probably be the only serious odds discussion here for a long time. Here are the lotteries you'd play if you understand odds and the value of money. In CSV format just made using the most recent values from all existing games:

Code:

/*sorted type->best_small_prize_odds->best_big_prize_odds excludes >$1 scratch offs and <$1000000 big-name lotteries*/
type,name,ticket price,jackpot,odds,count,small prize,odds,count
scratchoff,mighty bucks,1,5000,760000,12,1,6.82,1337600
scratchoff,lucky 7s,1,7000,640000,18,1,7.14,1478400
scratchoff,2016,1,2016,744000,10,1,10,744000
scratchoff,gimme 5!,1,5000,696000,10,1,10.34,672800
scratchoff,pot of gold,1,4000,840000,8,1,10.34,649600
scratchoff,5000 fiesta,1,5000,900000,8,1,10.34,696000
scratchoff,$50 mayhem,10000,1480000,6,1,10.34,858400
scratchoff,5x the cash,1,10000,984000,10,1,10.71,918400
scratchoff,blackjack,1,4000,720000,10,1,11.11,648000
scratchoff,bronze 7s,1,5000,960000,8,1,11.11,691200
bigticket,megamillions,1,arbritrary,258890850,arbritrary,1,21,arbritrary
bigticket,powerball,2,arbritrary,292201338,arbritrary,4,38,arbritrary

"bigticket" is there really just for reference even though MegaMillions odds are only 3.07x that of best scratch-off at same ticket price.. I probably should have done odds for exponential/100%-profit payouts too for small-prize.

[RussianRaibow]

I didn't need a professor to explain that.  It seems kind of obvious.

[maku]

I didn't need a professor to explain that.  It seems kind of obvious.

It is also obvious that there is not good gambling systems which can guarantee your wins. And yet I keep seeing threads about how Martingale is 'the best' method almost everyday.
Apparently information like this is not obvious for some people and they need to be reminded how low is the probability of winning lotteries.

[Joel_Jantsen]

I didn't need a professor to explain that.  It seems kind of obvious.

Okay bitcoinMarketStore,you should be responding to the scan accusation open against you for dumping the investors who invested in your Jewellery shop.For the topic : How obvious does it seem?Any calculations you have in mind? The article was just a logical explanation which involves maths and not myths.

[DuddlyDoRight]

" invested in your Jewellery shop"

Anyone who does that over the internet for someone who has no material evidence or credibility deserves to be ripped off.. Why is it smart people with good ideas have trouble with funding but two-bit plans get showered in money by the masses? Isn't this just poetic justice?

On-Topic: Draw-number lotteries use simple combinatorics(one out of x possible combinations). The scratch off; which advertises attractive odds like 1:7 or 1:4.73 overall, actually trick people by not explaining that their printing procedure doesn't actually print a winner every 7 tickets.. If they did print every 7 tickets there would be a primitive science to winning scratch-off lotteries..

[pinoycash]

lotto winnings is just a myth, did you know someone who won the jackpot? here at my place, it goes to the pockets of the chosen few