/biz/ - Business & Finance

I calculated that for you: "you're a fag"

kys

Not a mathemetician, but I assume your chances are better if you buy 52 tickets all at once.
Of course, 52 out of a billion is approximately equal to one out of a billion so you're going to lose either way.

Let's say the lottery is actually just all single-digit numbers 0-9, instead of a billion or whatever.
If I buy ten tickets in one week which cover all possible winning numbers, guaranteeing a win, my odds of winning would be better than if I just bought one number each week.
But I don't know the math behind it.

>>54641895
no the odds dont change you mong... but I am not going to explain why since you are obviously to stupid to understand. spent that money on some Math courses OP not even kidding...

>>54642011
>If I buy ten tickets in one week which cover all possible winning numbers, guaranteeing a win, my odds of winning would be better than if I just bought one number each week.
Exactly my thinking. Let's say I dedicate a sum of money to play lottery tickets on a year. That could mean I buy multiple lottery tickets once a year or I buy one ticket every week. The former would probably yield more money, no? Or the very least, the smaller wins could at least win back the money I spent on the tickets.

>anons lacking liquidity so much that they are actually unironically contemplating regularly burning their money away on lottery tickets
it's a bear market alright

>>54641895
I'm a mathematician. First of all:

permutation - sequence of numbers where order matters

combination - sequence of numbers where order does not matter

Also >>54642011 is roughly correct though the numbers are more like 52 out of 300M for the Mega Millions.

Because of the insanely small chance of winning paired with the $2 cost per ticket you arrive at a negative expected value which means your money would be better spent on virtually anything else. You actually have better odds gambling on sports games, casino games, and shitcoins which are all still terrible.

Just DCA into solid long term investments.

OP is obviously retarded, but at the very least it would increase your odds if the actual winner is only occasionally fake.

The winner has been proven to occasionally be fake -- they've been caught
The winner COULD be rigged 100% of the time. It's unknowable.

There's a reason they call it a tax on retarded niggergoy

>>54641895
it makes sense to gamble at the bottom to overall lower your dca. idk about that one in a million chance but a 50/50 after your coin has fallen drastically is a valid strat if you have no other income to allot to said shitcoin.

>>54642055
each lottery drawing is an independent event, so the odds of winning the jackpot on any given ticket are the same, regardless of when you buy it. buying 52 tickets at once doesnt increase your chances of winning the jackpot on any individual ticket.

what the fuck is wrong with the place no wonder you all are broke...

>>54642092
>the odds of winning the jackpot on any given ticket are the same
But the collective odds of winning the jackpot prize are greater because you have more tickets with unique numbers on them. It's common knowledge that one individual ticket will never have better odds than the moment you bought it, fucking idiot.

>>54642107
you are wrong and I am ashamed you call yourself a mathematician

>>54642092
It's not independent at all. If one of your combinations didn't win, then there's 1 less combination the winning combination could be.
It doesn't increase your chances much because it's very low to begin with, so 0.0000001 times 52 is still just 0.0000052 but it is higher

>>54642121
How are you this fucking stupid are you actually serious? If we roll a 20 sided die and you bet on 5 of the numbers you have a greater odds of winning one of those picks than if you just picked 1 number you colossal retard.

>>54642137
you have a higher chance of winning that specific jackpot sure but overall the chance of winning is the same

You cant increase your odds
How are people this dumb on 4chan

It doesn't matter. The chances are the same

>>54642154
Winning that specific jackpot is the goal and was the basis of the question you absolute nigger.

>>54642155
>if you buy every single combination, you're chance is still 1 in a billion
ok retard

>>54642162
>Do I have better a better chance at winning big
please do us all a favor and kill yourself

>>54642185
>Do I have better a better chance at winning big
Yes, on that specific game only. BUT the chance is still insignificant as already discussed.

>>54642197
I hate you

>this thread

Also not sure how it is in American lottery, but in my country you can still win some money if you hit 4 numbers or even 3. It's not much money, but you can easily win back what the tickets cost so you can come out even.

>>54642055
>Because of the insanely small chance of winning paired with the $2 cost per ticket you arrive at a negative expected value which means your money would be better spent on virtually anything else. You actually have better odds gambling on sports games, casino games, and shitcoins which are all still terrible.

there's more to gambling than expected value. what you're paying for when you make a negative expected value bet is volatility. while the value of risk/reward is subjective, in my opinion it's much better to put $10 into a slot machine with a 5% hold and huge 1000x payouts then it is to play a single hand of $10 blackjack to try to double up to $20

>>54642209
lottery is a boomer meme game. I literally made more money by putting 100 euros in random crypto than all lotteries i played combined

>>54642215
>in my opinion it's much better to put $10 into a slot machine with a 5% hold and huge 1000x payouts then it is to play a single hand of $10 blackjack to try to double up to $20

And that is why I get to walk out of the casino consistently up $50 to $200 on blackjack and all the other fools lose it all on slots. Because they cannot see the forest for the trees and understand the variables and human limitations that come with exposure to large numbers.

>>54641960
FPBP
>>54641895
no you are retarded, invest in bitcoin when it dipd in the next week or two, then in a month from that point you will hae about 50% profit. e.g. invest 5 in the dip, turns into 7.5 in a month or so. barring any major event like ww3 or a plague.
also, speaking of lottery tickets, why aren't you also stockpiling? this is my stockpile from years ago, eaten most of that now and replaced it to keep it fresh. currently living off rice that i paid 45p for, it is now 71p. thanks corona.

>>54642215
>there's more to gambling than expected value.
I don't know why people are so negative toward the lottery, saying it's only for fools and idiots.
I buy a lottery ticket every couple months.
It's not because I think I'll win.
It's entertainment ... I buy a ticket then for a couple days I daydream and imagine what I'd do if I win. And that gives me a little bit of excitement or hopium or whatever you might call it. Worth about $2 every couple months.

>>54642278
the average slot player plays slots with $1 spins that don't have sufficient volatility (if you hit a 25x on a $1 bet you won't be satisfied and will keep playing)
the value is in high limit slots where you bet $10 on a single line and so even a minor 25x win is $250 and anything bigger we're talking real money
i convinced my pops to put $20 into a $10/pull slot machine and he won $4,000. i've never seen anyone win like that on blackjack or craps unless they were also risking large sums

my parents have been playing the lottery consistently for over 40 years, and my moms parents played consistently for decades before that, and everyone in my moms family (a lot of people) have played the lotto a lot. never met one lotto winner in my life kek. the most my parents ever got from it is like 3 or 4 thousand. that happens maybe once a decade. then my dad runs to the casino and spends it all. he spends about $80-$100 on lotto every week.

>>54642154
>>54642205

Aight math guys. My thought was the probability of winning *a* jackpot is greater if you pool your bet into one game rather than splitting across twenty.
Let’s say there are 100 numbers to bet on. You bet on 20 of them. That’s 20% chance of winning in that one lottery. If you split across 20 lotteries your chance of winning would be (1-0.99^20) = 18.2% < 20%. On the flip side you have a marginal chance of winning several jackpots.
Does the logic check out?

>>54642320
The thing you're not understanding is that excitement is enslaving and slowly killing off any possibility of you becoming something greater. You might think nothing of it but it's literally eating away at you more than just financially along with a lot of other things in this modern hellscape.

>>54642350
Goddamn, topkek

>>54641895
people always say that it's mathematically more likely to be hit by lightning than win the lottery, but almost every week there is some faggot that wins the lottery, but you never hear of someone getting hit by lightning.

So the conclusion is that there are more subtle forces at play when it comes to winning the lottery, that drastically influence your chance to win.

So the question is, what are those subtle forces and how can you control them?

>>54642371
in your example if you buy 1 ticket that ticket has a chance of winning of 1%. As I said your chance of winning that specific lottery is higher if you buy multiple tickets with different numbers which should be obvious. but the overall chance of winning is the same. since you buy 20 tickets each with a chance of 1%

>>54642092
>>54642121
You're retarded

>>54642055
Why not just write out the math to prove it?

To make the math cleaner, let's say there are 312m possible combinations. If you buy 52 tickets at once and ensure they don't repeat, your chances of winning are 52/312000000=1/6000000=1/6m=0.000000166666666666666666666...7
If you buy a ticket on 52 separate drawings, your chances of winning are 1-((312m-1)/312m)^52=0.000000166666653045... which is worse than 0.000000166666666666...

>>54642569
I am done explaining

You have a slightly higher chance to win one, at the expense of bit being able to win multiple times. Since winning twice isn't realistic it necessary its probably slightly better to buy all at once if you're just about winning. But it's gonna be less "fun" than having 52 drawings. And the extremely low ev means the only good reason to gamble is the fun and excitement, so you should stick with 52 seperate tickets after all

>>54642648
Perfect example of a frogposter. Comes in to troll and offer 0 value to a conversation. I hate every single one of you fucking faggots

Keep in mind the jackpot is not necessarily the only win. In my country there's this game called Luxor where you can hit the insides square or the outer rim of number or both (which is the jackpot) but you still have good chances of hitting the outer numbers and that would win back the money you spent on tickets. So winning the actual jackpot is just a bonus.

>>54642677
leave peepee out off this you fucking faggot it's not his fault that you lack reading comprehension

>>54642278
Because you a low luck loser.
Me? I frequently win hundreds on slots and get hotel 'gifts' as a regular winner.

>>54642534
If there are 100 tickets with one winner and there are new tickets and a new winning ticket every week, the chance of _not_ winning two week in a row is 0.99*099=0.9801

If you buy two tickets the same week your chance of not winning is 0.98

Buying 52 weeks: 0.99^52 = 0.592966446 chance of not winning
buying 52 tickets the same week = 1-0.01*52 = 0.48 chance of not winning

However, there is a possibility that you win more than one week with the first strategy. I believe risk/reward should be exactly the same for both strategies, but to prove that the calculations would get rather complex

>>54642950
you seem like a nice guy so I am not going to bother. Have a nice day frens was fun chatting :^) and remember only retards buy lottery tickets go gamble on shitcoins or better yet invest in some probability courses that shit gets really wild really fast

>>54641895
I used to work to a company that once spent $300,000 on lottery tickets for one draw because they had extra money in the budget, they didn't win.

>>54643039
Kek if true

>lotto thread
Wanna buy a crack pipe to go with your $300 in gambling?

>>54643144
it's true, the CEO casually announced it in a Manager's meeting, saying something like "we spent $300,000 on the last lottery draw and didn't win, so if you ever thought buying more tickets will help you win there you go. hehe, $300,000 I'm not kidding" Meanwhile I'm sitting there thinking like that's many years salary for me. They could have instead done a lottery where an employee could win the $300k and boost morale a bit but no, just throw it away. Granted this is a company that would spend $1 Million on fireworks so it wasn't particularly surprising, just demoralizing.

also I don't even know how they managed to buy $300k of lottery tickets, would have been a more interesting story hearing how that works.

>>54643217
More likely just lied

>>54643217
Watch Mr beast video to find out.
It's not an uncommon thing.

>>54643039
>>54643201
>rich: piss away vast amounts of money on nothing, destroy entire systems, countries, environments, etc.
>poor: cannot escape the tsunami of rich peoples' careless bad choices. struggle for decades to make one tenth of what rich people piss away in a day.
now, I'm not suggesting something gay like communism, but if you have 300,000 to spare ... maybe give 300 poor people $1000. it will be a big boost to them, possibly even life changing, you will get huge publicity and be renowned as the robin hood of our time.

There has never been a single person in the history of the lottery who gamed the system. Not one, not a single mathematician or professor or retard savant.

>>54643453
Or you could be remembered as the guy who threw $300,000 out of a car.

>>54643588
>Or you could be remembered as the guy who threw $300,000 out of a car.
also better than pissing it away on lottery tickets.

>>54641960
/thread

>>54642092
>>54642121
>>54642154
>>54642185
>>54642205
>>54642648
>>54642749

>>54641895
You would be better off setting a bot to buy $500 of a random brand new ERC-20 token ever year.

If 0.001% of ERC-20s go to 1000x, you are thousands of times more likely to get a massive return from the crypto casino than you are by playing the lottery 52x a year.

To put the chances into perspective, imagine every person in the US has been given a single ticket. The chance you win is about the same as the actual lottery. If you buy 50 tickets, it would be like someone on your street winning against the entire US. If you buy 10,000 tickets, it's the same as someone in your CITY winning against the entire population of the US.

>>54641895
Don't buy a ton of tickets all at once, the increased chance of winning is negligible. I buy a ticket once a month or so just because it's exciting for a few hours after to imagine yourself winning and what you would do with it. 2 bucks to feel happy and daydream for a few hours. Don't try to mindgame yourself into actually winning the lottery there is no chance and you will just end up losing a ton of money in the long run.

>>54641895
I worked in a liquor store for a bit and gamblers are so fucking degen it's appalling. And their superstition is ridiculous "I SHOULD HAVE PLAYED DAT NUMBA I WAS BOUT TO.. OMG I HADA DREAM BOUT THAT NUMBER LAST NIGHT.. OMG THATS MY BABY DADDIES BIRTHDAY!!! ON GOD MY BABY GOT SHOT ON THIS NUMBA DATE."

If you go into liquor stores for booze and tickets regularly you're a filthy degen and I hate you.

>>54641895
The only way to increase your potential winnings when playing the lottery is to not choose sequential numbers, patterns, birthdays etc.
People have won the lottery and walked away with very little money because thousands of others also chose their 1 2 3 4 5 6 combination.

Might as well spend the same money on the bsc shitcoin casino, better odds there by a lot

>>54642179
Yoire being stupid on purpose
Theres no way to stack or spread out 3 combinations of numbers to give you more than 3 in 1 million odds

>>54643286
I searched mr beast and there is a man in a dress running around in his videos

>>54642320
>Worth about $2 every couple months.
Why not just spend $2 on far OTM Call Options on BioTech Stocks that have massive volatility?

>>54641895
It checks out and that's what im doing on Pool Party with their lotto-like staking pools. You're on big game territory kid