9 ms·
> A ticket cost $1. > a 1-in-54 chance to pick three out of the six numbers in a drawing, winning $5, and a 1-in-1,500 chance to pick four numbers, winning $10
by badodds 9y ago
> A ticket cost $1.
> a 1-in-54 chance to pick three out of the six numbers in a drawing, winning $5, and a 1-in-1,500 chance to pick four numbers, winning $100.
> winning three-number combination would put $50 in the player’s pocket instead of $5, and the four-number winners would pay out $1,000 in prize money instead of $100, and all of a sudden, the odds were in your favor.
1 in 54 wins you $50, 1 in 1500 wins you $1000. I feel really dumb right now, as I must be missing something, but how are those winning odds?
- gene91 9y agoIf you buy 40500 tickets. 750 of them will win $50. 27 of them will win $1000. As a result, you spent $40500, and gained $64500. That's a nice guanranteed 59% gain assuming you have enough cash on hand to pull this off (in less than a week's time and effort).
- ginnungagap 9y agoThe simplified version is that if buy 1500 tickets one of those will win you 1000$ and 1500/54=27 tickets will win 50$ each for a total of 2350$
- badodds 9y agoOf course, stacked odds! Thank you