Original Blog Entry: Why multiple tickets for the same draw do not divide the odds

hypersoniq — Sun, 07 Apr 2024 19:04:20 GMT

It is a common practice to look at a ratio and reduce it. In pure numbers that is just fine, but in the lottery these numbers represent something and therefore cannot be reduced.

Let's use the simplest example possible... a pick 2 game.

Posted odds are 1:100

The one represents your ticket, also known as the favorable outcome.

The 100 represents the draw, or the possible outcomes.

Buy one ticket, such as 45, then your odds are 1 favorable outcome to the 100 possible outcome

Buy 2 tickets with different numbers... say 45 and 71, and your odds ratio is 2:100

Some would say 1:50, but in every draw, the possible outcomes stay at 100

To extend the example, say you spent $50 to buy half of the possible outcomes... your odds are now at 50:100, this is why they only pay out half of the odds... IF you win, it pays $50 and you earned nothing. And if their draw was in the group of 50 that you did not cover, they took your $50.

This is why I take the more difficult route of trying to pick just one combo to play in a draw.

You win far less, but it feels like you have accomplished something when you get a hit. Plus you spend far less money in the process.

The same holds true for jackpot games.

Throwing extra money at one draw does not significantly increase your odds of winning, it is better to spread the same money out over multiple draws.

Best of luck!... [ More ]