How many Lotto tickets would I have to buy in order to have a fair chance at winning?
Question by l3en: How many Lotto tickets would I have to buy in order to have a fair chance at winning?
Estimate for like an average lotto, for a 1 in 10 chance.
Best answer:
Answer by Toshi
the odds of winning the lotto is 1 in a million. To make it simplified 1 in 10 you would need to buy 100,000 lotto tickets LOL
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I don’t know what you mean by “average lotto”. Lottery games can be anywhere from a few thousand to several tens of millions. If you wanted a 10% chance of winning, then you’d have to take the number of all possible numbers and divide by 10.
Say the odds are 1 in 80,000,000 like in Powerball (appx of course) To get that to a 1:10 chance, you’d have to buy 8,000,000 tickets. That sounds like a good deal, but you have to think that you would probably still lose and that’s a lot of money! So say you wanted to GUARANTEE you win: the jackpot’s at $ 200M and you know there are only 80,000,000 combinations so you go up to buy ALL of them. Well, you can’t because they make you buy them 5 at a time and they make you fill the play slips out by hand. You can’t automate your buying of the tickets. You can’t possibly stand there long enough to buy them all, because it would take years!
See, they think of everything.