Lottery is an "Idiot Tax": Agree or Disagree?
JMCC
2012/08/29 17:24:13
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10 votes
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50% | ||
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8 votes
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40% | ||
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1 vote
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5% | ||
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1 vote
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5% | ||
Some people call the lottery an "idiot tax" because of the probability of winning, do you agree?
The Jackpot - 6 Numbers
6 numbers are drawn at random from the set of integers between 1 and 49, which means there are 49!/(6!*(49-6)!) combinations of numbers (the draw order doesn't matter). The means that the jackpot chance is 1 in 13,983,816 or approximately 1 in 14 million.
5 Numbers + Bonus Number
You are still matching 6 numbers from the 1 to 49 set as above, but you can now do it in 6 different ways (by dropping each of the main numbers in turn), therefore the chance is 1 in 13,983,816/6, which works out as 1 in 2,330,636.
5 Numbers
This is 42 times more likely than getting 5 numbers + the bonus number because, after the first six balls are drawn, there are 43 balls left and you can match 42 of these 43 balls without matching the bonus number. Therefore the chance is 1 in 2,330,636/42, which evaluates to 1 in 55,491.33333.
The Jackpot - 6 Numbers
6 numbers are drawn at random from the set of integers between 1 and 49, which means there are 49!/(6!*(49-6)!) combinations of numbers (the draw order doesn't matter). The means that the jackpot chance is 1 in 13,983,816 or approximately 1 in 14 million.
5 Numbers + Bonus Number
You are still matching 6 numbers from the 1 to 49 set as above, but you can now do it in 6 different ways (by dropping each of the main numbers in turn), therefore the chance is 1 in 13,983,816/6, which works out as 1 in 2,330,636.
5 Numbers
This is 42 times more likely than getting 5 numbers + the bonus number because, after the first six balls are drawn, there are 43 balls left and you can match 42 of these 43 balls without matching the bonus number. Therefore the chance is 1 in 2,330,636/42, which evaluates to 1 in 55,491.33333.
The implication is that the purchase of the ticket is a "tax on idiots", because only an idiot would expect a return from a bet with such long odds...