While many people dream of winning it big when gambling, the truth is only a small percentage take advice that matters. 99 gamblers out of perhaps 100 dream of winning big – especially with games of chance. How many really do?
Briefly, games of chance are a type of gambling that really or random chance – if there is in-reality truly such a thing as random. Again – even a computer random number generator relies”on the date/time to generate a “random number.” It still draws from a fixed source.
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This might seem to be an arbitrary fact, but – if the odds are stacked – knowledge is power.
Let us take a look closer at this game of chance being the lottery, starting with definitions, going then to origination of the lotto, and focusing then on explanations of odds, how probability/chance and odds work – in reality, and what ones chances of winning such a game of chance.
Without any further delay, let us begin –
Definition Of Important Terms and Concepts
1. What is a lottery or lotto?
In brief, a lottery or ‘lotto’ is a game of chance where players choose numbers to win. It is usually a form of pure chance gambling. More precisely according to Wikipedia – “A lottery (or lotto) is a form of gambling that involves the drawing of numbers at random for a prize.”
Legalities: Is playing the lottery legal (in the US at least?)
Most forms of gambling was outlawed during the Great Depression and the 20th century in both the US and several European nations. However, in the hippie sixties – such a liberal age allowed for the legalization of many national lotteries because perhaps of the restrictions placed on society following World War II, and the Korean and Vietnam war. This is not entirely an unsubstantiated point of view for its legalization.
Still, most governments, prohibit the sale of lottery cards or tickets to minors. Some other interesting information provided by 99 Gamblers.
The US Lottery – The Power-ball.
According to Wikipedia, the American lottery or lotto is called the Power-ball. It is legal in 45 of their 50 states. Furthermore: “It is overseen by the Multi-State Lottery Association (MUSL), which also manages other large jackpot games such as the Mega Millions. From 1992 to 2021, Power-ball drawings were held biweekly on Wednesdays and Saturdays. Monday drawings were added to help boost sales and increase jackpot amounts Power-ball drawings are held at 10:59 p.m. Eastern Time, at the Florida Lottery’s headquarters in Tallahassee.”
99 Gamblers out of 5001 lose when it comes to the game of chance the lotto(typically). Why?
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Odds – Whilst most gamblers might believe the odds are for fixed odds betting alone such as EFC/sports/betting – cricket world cup or the rugby world cup, the odds of winning a lottery that has roughly 50 different cardinals or numbers and 6 balls, basically there odds aren’t just 1 in a million of matching all cardinals or numbers – it is roughly 1 in 12.389 million. Wow – why do we even try?
Well, perhaps it’s the lure of winning big, of a small ‘gamble’ – or it is a harmless pastime. If you find yourself spending too much time and money playing the lottery – remember like any other gambling game especially games of chance – seek help, before you do something foolish or develop an unneeded stress or problem in your life.
Now, why are the odds or the probability of getting six numbers varying between one and 50, roughly, so high? This is interesting – let us investigate:
What is probability and how do we work out the probability of chance mathematically?
Probability can be defined as the chance of something occurring. So if I have one number to choose to win, at once – I should have a 100% chance of winning it. If I have, 2 numbers two choose once, chances should be a 50/50 or 50% I choose it right. SO – 1-2(1/2=.5 or 50%) If I have 3 numbers to choose (with only one is right) I have a 33% chance. So-1/3=.33 or 33%. 4=1/4=25%(0.25)5=1/5=20% chance of getting it right the first time. Following the maths if I have a group of 50 numbers to choose from – my probability or odds would be 0,02%(roughly) this is the decimal odd of the variants involved. The first time you get one ball correct. So, to make things simpler. 0,02%*50%50/2=25 but we chose? 6 so, let us use fractionals to determine our odds using numbers variants(C) so C(50,6) is the calculation why? We chose 6 numbers of a possible 50. Now we use the summation concept = 1/n where n reprersents ‘infant or many possibilities’)
1/n lets then use the variable C to replace 1. SO -: C(50,6)=50!6!(50–6)!=50×49×48×47×46×45/6×5×4×3×2×1=15,890,700
Summary
So in brief =C can be seen we know what numbers may be chosen. N represents the summation = what is left to chance. c/n=15,890,700 odds of winning the jackpot. Well, don’t lose heart. There still is a chance not 1 in a million basically 16 times lesser!
Well, if these are the odds remember – not to play irresponsibly, and, be sure to read the article on choosing lottery-winning strategies. Well, for now,. That is all folks. Be sure to leave your thoughts and comments. And With anything, the more you know – the more chance you have of success.
Until next time, win big, play reply, and have a blessed day. And don’t forget to return to 99 Gamblers for more intresting info and Advice that matters.
Lastly, check out the following posts on 99 Gamblers, that are related to this topic:
How To Play The Lottery Online?
How To Play Free Lottery Online in India
99 Gamblers Resources For Seeking Help And Advice
If any of our readers on 99 Gamblers feel they have a gambling problem, we at 99 gamblers recommend visiting the following sites to seek help:
National Helpline 1-800-GAMBLER
At 99 Gamblers we promote responsible gambling. Seek help before its too late.
(SUMHLC) – National Gambling Addiction Hotlines and Additional Resources
