|Posted: January 13, 2016, 5:49 pm - IP Logged|
Powerball reality check: Fuzzy math advice abounds before colossal drawing
Economists and statisticians warn those eyeing that $1.4 billion jackpot against buying ‘as many tickets as you can afford...
...Sure, purchasing as many tickets as you can afford would improve your odds, but they would still be infinitesimal — you would just be deeper in the red.
“It’s bad advice because, believe it or not, there’s essentially no meaningful improvement in your chances of winning if you were to buy $1 million worth of tickets instead of $2 worth of tickets,” Craig Harrington, the economic policy program director for MMfA, said to Yahoo News. “So, urging people to buy as many tickets as they can won’t really do anything for them, unless they’re able to buy about $300 million worth of tickets" (which would give them a 50-50 chance of picking the winning numbers)
Those who run the lotteries love it when players look for consistency in something that's designed not to have any.
There is one and only one 'proven' system, and that is to book the action. No matter the game, let the players pick their own losers.