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Another how do I calculate these odds?

Topic closed. 9 replies. Last post 2 years ago by JWBlue.

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San Diego, CA
United States
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February 12, 2008
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 Posted: February 21, 2015, 10:15 am - IP Logged

A scratcher has odds to win the following prizes.

\$5M - 1 in 6M

\$2M - 1 in 6M.

What are the odds of winning a prize of at least 2M?

Economy class
Belgium
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February 27, 2012
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 Posted: February 21, 2015, 10:30 am - IP Logged

0

United States
Member #67870
December 7, 2008
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 Posted: February 21, 2015, 2:07 pm - IP Logged

A scratcher has odds to win the following prizes.

\$5M - 1 in 6M

\$2M - 1 in 6M.

What are the odds of winning a prize of at least 2M?

I think you stated the odds to win 2 million. It's 1 in 6 million

San Diego, CA
United States
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February 12, 2008
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 Posted: February 21, 2015, 2:47 pm - IP Logged

I think you stated the odds to win 2 million. It's 1 in 6 million

I am asking the odds of winning either \$2M or \$6M.

United States
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December 7, 2008
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 Posted: February 21, 2015, 5:20 pm - IP Logged

I'm not an expert on odds, but I'm going to guess it's 1 in 3 million. It's still awful odds, it's hard enough to guess 3 on Pick3 Exact, with odds of 1 in 1000

Hopefully the experts will answer soon.

United States
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November 28, 2014
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 Posted: February 21, 2015, 5:29 pm - IP Logged

Odds are not good.

MrProgrammer

nj
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August 10, 2013
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 Posted: February 21, 2015, 7:56 pm - IP Logged

that is when they start the game !!they start with X amount of winning ticks and some states lotto websites you can check how many of the BIG  winning ones are left.

You may buy a tick without knowing the 2 mil\$ ticket  have already been awarded.in that case the odds are ZERO.

mid-Ohio
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March 24, 2001
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 Posted: February 22, 2015, 5:44 pm - IP Logged

Depends on the number of tickets brought for each game.  If you don't buy a ticket your odds of winning would be 0 even with 1in10 odds.

* you don't need to buy more tickets, just buy a winning ticket *

Happyland
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September 1, 2013
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 Posted: February 22, 2015, 6:57 pm - IP Logged

A scratcher has odds to win the following prizes.

\$5M - 1 in 6M

\$2M - 1 in 6M.

What are the odds of winning a prize of at least 2M?

Assuming 1 ticket purchased, the probability of winning at least that much is simply the sum of the probability of winning \$5 million and the probability of winning \$2 million. 1/6000000 + 1/6000000 = 1/3000000. This is because you can win \$5 million and still meet the criteria for winning at least \$2 million.

It would be the same if there were a hundred different prizes. Simply add the probability of winning each of the tiers that meet your criteria (remember, the lottery calculates the odds of you winning only THAT prize and none other, which is why posted odds can look incorrect or too high sometimes). This gets trickier for multiple trials, though. And yes, for scratchers the odds change as tickets are sold. However, they are usually within 3% of the advertised value.

If the chances of winning the jackpot are so slim, why play when the jackpot is so small? Your chances never change, but the potential payoff does.
If a crystal ball showed you the future of the rest of your life, and in that future you will never win a jackpot, would you still play?

2016: -48.28% (13 tickets) ||
P&L % = Total Win(\$)/Total Wager(\$) - 1

San Diego, CA
United States
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February 12, 2008
287 Posts
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 Posted: February 22, 2015, 7:05 pm - IP Logged

Assuming 1 ticket purchased, the probability of winning at least that much is simply the sum of the probability of winning \$5 million and the probability of winning \$2 million. 1/6000000 + 1/6000000 = 1/3000000. This is because you can win \$5 million and still meet the criteria for winning at least \$2 million.

It would be the same if there were a hundred different prizes. Simply add the probability of winning each of the tiers that meet your criteria (remember, the lottery calculates the odds of you winning only THAT prize and none other, which is why posted odds can look incorrect or too high sometimes). This gets trickier for multiple trials, though. And yes, for scratchers the odds change as tickets are sold. However, they are usually within 3% of the advertised value.

Thank you.

I thought so but was not sure.

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