Probabilities

[Joe Bloe]

For example, 1 2 3 4 5 6 7 is just as likely as any other set of numbers and just because it turns up once the chances of it turning up again the next week are exactly the same.

Though, if you have 1 2 3 4 5 6 7, you're not as likely to win the whole prize yourself, since that is the most popular set that people play with

Let's say the prize is $10m and you are one of ten people who have chosen 1 2 3 4 5 6 7, and let's say they are the winning numbers. In that case, you and the other 9 people will collect $1m for each winning ticket.

But what if you buy eleven tickets and select 1 2 3 4 5 6 7 on each of them. Now there are 20 winning tickets sharing the prize pool and each will pay $500,000 - but you have eleven shares and collect $5,500,000 (more than half the prize pool).

Purchase 91 tickets and now there are 100 tickets worth $100,000 each - but you have 91 shares and collect $9,100,000 (nearly all of the prize pool).


[Of course, you might lose.]