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To: HartleyMBaldwin; WarriorPoet
Currently, if you spend $10, you get 5 tickets, each with a 1 in 302 million chance to win the jackpot, so you have a one in 60.4 million chance. After the change, you'll get 2 tickets for your $10, each with a one in 290 million chance, so your chance to win is now one in 145 million.

I must be missing something. If the odds of winning are 1 in 302 million, with 5 tickets the absolute chance of winning is 5 in 302 million.
Yes, the relative chance of 5 tickets versus 1 ticket has quintupled (5x), but absolute chances haven't significantly improved at all.

In this case, the price of the ticket will go up to $5, so for $10 you only get two tickets instead of 5, decreasing your relative chances by 2.5 (5 divided by 2).

The article states the odds will go from 1 in 302 million to 1 in 290 million. If you will only buy two tickets due to the higher cost, your absolute chances will go from 5 in 302 million (0.0000017%) today to 2 in 290 million (0.0000007%) when the new prices start in 2025.

You will be paying more for less. More Bidenomics of course.

35 posted on 09/27/2024 8:17:20 PM PDT by T.B. Yoits
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To: T.B. Yoits

Every ticket will have the same odds, 290 million to 1. Chances don’t mean squat. Chances and odds are two very different things. If you buy two tickets your odds on each ticket remains 290 to 1. If you buy 20 tickets each ticket has odds of 290 to 1. That’s why it’s silly to buy 10 or 20 tickets.

Scratch offs by the way have the best odds to win something. Power Ball and now certainly Mega Millions are for suckers.


37 posted on 09/27/2024 8:25:42 PM PDT by chuck allen
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To: T.B. Yoits
The article states the odds will go from 1 in 302 million to 1 in 290 million. If you will only buy two tickets due to the higher cost, your absolute chances will go from 5 in 302 million (0.0000017%) today to 2 in 290 million (0.0000007%) when the new prices start in 2025.

Yes, that restates what I said.

39 posted on 09/27/2024 8:46:10 PM PDT by HartleyMBaldwin
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