Thursday 3 October 2013

Lottery Scam - £2 ticket actually HALVES you chances


Yes they have increased the winnings, actually by only 60p! but its peanuts in realty. Its all to do with probability which no one has explained so here’s  a quick lesson.
Throw a dice – you have a 1/6th chance of getting a 6
If you 2 6s in a row its not 2/6 its actually 1/36!
Why? You have one chance of a 6followed by a 6 as opposed to all the other combinations 1+1 1+2, etc.
So lets say you spend £10 a week on lottery tickets. That makes 10 tickets previously, 10 chances of winning the jackpot. Now you £10 only gets you 5 tickets so you have HALF as many chances of winning SEE? The odds of winning haven’t changed.
Prize increased from £10 to £25 = 60p rise. Why?
Lets say
Previously you had 10 tickets, 10/40 000000 (10 in 40million)
Now you have 5 tickets 5/40000000 (5 in 40million)
So prize £10 x 10/40 000000 versus  £25  x 5/40 000000
Quick arithmetic
Chance of winning £10 = ¼ – versus £25 1/8
¼ of 10 = £2.50
!/8 of 25 = £3.12
Increase a mere 62p – thank you national Lottery.

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