Mega Millions VS Big Game

Reply #2

Gamma Ray — Wed, 10 Apr 2002 23:58:54 GMT

Let me talk about expected gain on gamblingExpect gain Per Bet=Bet x Payout x OddsFor the 5+0 matche:Biggame Player's Expected Gain=$1 x $150,000 x 1 /2,179,296=$0.068,829,566 Or 6.88%Mega Millions Player's Expected Gain=$1 x $175,000 x 1 /2,649,920=$0.066,039,729 Or 6.66%The calculation shows there is a welfare loss form players to operator.To be honest, and have the welfare unchange, Payout=0.068,829,566 / (1 /2,649,920)=$182,392.85Operator's Expect Gain %=1 -Player's Expected Gain %Operator's... [ More ]

Reply #1

Guest — Wed, 10 Apr 2002 16:42:05 GMT

Maybe what you're trying to say is that you figured the jackpot level will pay out a higher percentage of prize money than now (or, Mega Millions will return less money per dollar bet in the eight lower tiers vs Big Game).

Mega Millions VS Big Game

Gamma Ray — Wed, 10 Apr 2002 12:03:06 GMT

Welfare loss for Big Game Players at Georgia, Illinois, Maryland, Massachusetts, Michigan, New Jersey,and Virginia!Except the ability to have a bigger jackpotOdds is higher for all catergories% Payouts increase lower than % odds increaseMathematically, that means the operator have a bigger advantage over players, and player have a bigger expected loss! (Summation Payouts x Odds) (Jackpot*135,145,920 +$175,000*2,649,920 +... VS Jackpot*76,275,360 +$150,000*2,179,296...) Players of Mega Millions w... [ More ]