Mathematical calculations come in handy when examining the probability of winning a lottery jackpot or other lower-tier prizes. Likewise, most expert punters rely on calculations when faced with a decision on which lottery to play. Informed calculations are undoubtedly the only way to assess a lottery's win probability.
The formula for calculating lottery odds can be a bit complex and require knowledge of some advanced mathematical concepts. However, a reliable lottery ranking site comes to the aid of players who are not willing to endure the long calculations before picking the top online lotteries. However, punters interested in doing the computations themselves can follow this guide.
The variables required to calculate winning odds for a lottery are the total number of possible lottery numbers (n) and the number of chosen winning lottery numbers required (r).
The formula is n!/r!*(n-r)! Where the exclamation mark denotes the factorial function.
An easy way to understand the formula is by using an example. For a lottery that requires punters to choose two numbers out of a possible five digits, the winning odds will be calculated as 5!/2!*(5-2)! That works out to 120/12, which is equal to 10. The odds of winning the lottery will thus be 1 in 10.
The formula only applies when the punters are allowed to select ticket numbers in no particular order. In other words, a winning ticket has the same numbers as those appearing on the draw. That is irrespective of the order in which the numbers are drawn. Lotteries with a limitation in the order of selection use a different formula that is more complex and usually results in worse odds.
Some lotteries may also have special rules that make the formula invalid. For example, a lottery may include a unique number that has to be chosen from a separate small pool of numbers for the jackpot. The formula in such a case will change regarding finding the actual value of n and r, but the general formula will remain the same.
The above-mentioned formula indicates the odds for winning, assuming a punter buys only one ticket. However, the odds improve with every additional purchase for the same draw, which is why elite punters often buy many tickets or join lottery syndicates. Notably, the formula for calculating the winning odds when playing multiple tickets is easy.
Punters only need to subtract the number of tickets from the winning odds of one ticket, and then divide the result by the winning odds for one ticket.
The results of each lottery draw are usually independent of previous outcomes. That means playing multiple times does not necessarily increase the chances of winning in any particular draw. On the flip side, not purchasing a ticket nulls players' chances of winning. That means that playing in more draws or lotteries technically increases the winning chances.
However, the mathematical advantages are somewhat insignificant over the odds of winning in a particular draw. Therefore, the cost of buying enough tickets to gain the mathematical advantage is also not worth the risk.
All the calculations made to determine inning odds are nothing more than numbers. Playing the lottery is based on luck, and punters can win irrespective of how good or poor the odds are. Experts recommend that winning odds be used only to choose suitable online lotteries, and not to make financial decisions regarding how much to use on tickets. Punters should also consider the cost of purchasing tickets against the winning odds when choosing a lottery that offers suitable odds.