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Mega Millions - is a $1, $2, or $3 ticket the best value (EV)?Reply
Sorry, I messed up the Just the Jackpot (JTJ) pricing. It's $3 for 2 tickets, not $1 for 1 ticket. Comparing JTJ to regular ticket, then, we have the following equation for the equal EV / unit bet: (2/3)(kJ)p = (1/2)(kJ)p + A/2 Therefore, J = 3A/(kp). Comparing JTJ to Megaplier ($3) ticket, we have the following: (2/3)(kJ)p = (1/3)(kJ)p + (3A)/3 Therefore, again, J = 3A/(kp) To re-iterate Regular Ticket vs Megaplier: (1/2)(kJ)p + A/2 = (1/3)(kJ)p + (3A)/3 Once again,
Jul 27, 2022, 2:19 pm - Orange71 - Mathematics Forum