Saturday, August 19, 2017

Why I didn't play the lottery


If you are looking for something serious and political, move along. Tonight I deal with dry statistics, probability and current events.

There was a drawing for a 535 million dollar Powerball lottery tonight and I didn't buy a ticket. Allow me to explain why.

I usually don't buy a ticket. This means that though the odds for someone who buys a ticket are 1 in 292 million, for me, they are 0 in 292 million. So, and I have studied this, if I bought a ticket, my chances would increase from 0 in 292 million to 1 in 292 million. That doesn't sound like a lot, but trust me, it is. Think about it -- if I bought 2 tickets instead of one, my chances would increase to 2 in 292 million, a 100% increase. From 2 to 3 tickets is a 50% increase and so on. But from zero to one works out to be an INFINITE increase in my chances. That's a truth -- an infinite increase. That means I would inevitably and unavoidably win! Sounds good, right?

But remember, I have set a threshold for winning the lottery. Tonight the pot was at 535 million. But I figure that there have to be about 5 other people in the country who not only haven't been buying any tickets, but who also have the grasp of probability that I have and who would therefore also buy a ticket and inevitably win.

This would mean that 6 of us would win and my share would be less than my 100 million threshold! So winning wouldn't be worth it. So I sat this one out. You're welcome.

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