PDA

View Full Version : this is good....a positive EV from playing the lottery...


whiskeytown
08-07-2004, 02:58 PM
http://www.stltoday.com/stltoday/news/stories.nsf/News/St.+Louis+City+/+County/story/2CC2B658E78F736B86256EE9001B6772?OpenDocument&Head line=Skill+trumps+luck+for+Pick+3+player,+friends

like this story - a guy figured with two drawings he was guaranteed a 20 percent return on his investment for every 1000 bucks he invested -

23000 dollars invested = 4600 profit - a sure thing...(well, a 1/1000 chance you could be boned..)

interesting math - a good read for us bums always looking for a positive +EV game.

RB

youtalkfunny
08-09-2004, 12:50 AM
"...six white ones and the orange one went back into the bag. The sequence will start over, and all the white balls would have to be drawn before the orange one for another chance at Seidel's sure thing.

It's unclear how often that will happen. The Missouri Lottery says there's a 1 in 4.3 chance, though Goedde couldn't say how they'd arrived at those odds. Washington University professor Stanley Sawyer, a mathematician whose research focuses on probability and statistics, said he believes the chances are 1 in 7."

I'm with the prof on this one. /images/graemlins/smile.gif