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Author Topic:   Maths & Probabilities
PaulK
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Posts: 17822
Joined: 01-10-2003
Member Rating: 2.3


Message 3 of 36 (849248)
03-01-2019 5:33 PM
Reply to: Message 1 by Phat
03-01-2019 4:49 PM


I could probably work it out - in the morning - but I’d need to understand how the draw worked. That isn’t clear to me.

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PaulK
Member
Posts: 17822
Joined: 01-10-2003
Member Rating: 2.3


Message 6 of 36 (849253)
03-02-2019 4:01 AM


General thoughts
All commercial gambling is designed to bring in more money than it pays out. Unless there is a way to take advantage of the systems the odds are against you. In State Lotteries there is no legal way to take advantage of the system. Count any money you put into that as part of your entertainment budget and count it as spent.
In a typical second chance drawing you’ve already paid for the ticket so unless there is some extra charge or expense it probably makes sense to go for it. If there are additional charges or expenses you should pay them out of your gambling budget - instead of using it to buy more tickets. Whether that is a less bad use of the money I couldn’t say without knowing a whole lot more.
The best way to play the system, on the other hand, depends on the system. And that varies.
I can’t imagine the probabilities changing if tickets are entered at spaced intervals unless there are multiple draws.
Entering 100 tickets should improve the odds (assuming the draw is from the tickets).

  
PaulK
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Posts: 17822
Joined: 01-10-2003
Member Rating: 2.3


Message 19 of 36 (849286)
03-04-2019 2:10 AM
Reply to: Message 17 by Phat
03-03-2019 2:56 PM


Re: Expected Value per hour
quote:
In my mind, however, I always try and link God (as I understand and believe in Him) up with it all and magically eliminate the need for statistical improbability. Money is simply one vehicle which I could imagine God using to bless someone
I am not aware of any studies showing a bias in any lottery wins that tend to support the idea of Divine intervention playing a role.
On the theological side, my reading on the NT suggests a rather negative view of wealth and that God’s provision should be expected to be more on the lines of a hand-to-mouth existence.
I know that isn’t what you want to hear, but that’s the way I see it.

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