Lotto mania: Jackpot up to $540 million.

Discussion in 'Economics' started by peilthetraveler, Mar 29, 2012.

  1. Kelly Formula suggests betting 0.0000004% of your total risk capital on a lottery ticket with these odds :D
     
    #21     Mar 29, 2012
  2. There's one rational reason to choose unpopular numbers in lotteries. It doesn't make you any more likely to win, but it does make you less likely to have to share your prize with other winners, if your numbers do in fact come up.

    More people pick round numbers, early numbers, and sequences, than the later/larger numbers out of sequence. So you should try to avoid those predictably popular number choices, to maximise your total win.
     
    #22     Mar 29, 2012
  3. #23     Mar 29, 2012
  4. jem

    jem

    thanks...

    This must have been the point being made by a friend of friend who is such a smart guy I did not doubt him when he said it.

    This was a few years ago, but he also said the lottery officials set it up so the results are skewed towards or away from this idea... but I did not quite understand what he was saying... then the guys at the table said shuffle up and stop talking about work.
     
    #24     Mar 30, 2012
  5. $640MM when I grabbed my coffee this morning.
     
    #25     Mar 30, 2012
  6. jem

    jem

    got it .. thanks.
    My mind does not think that way... but I realize that is how researchers at bio tech companies may think when they do their 10,000 trials. In fact, this puts a conversation in great light.

    I played squash with a guy who wanted to set up a biotech research dept that tried to understand the whys before doing trials.
     
    #26     Mar 30, 2012
  7. April fools day is mega fun this year, dont think so hard:p
     
    #27     Mar 30, 2012