Euromillions

How many winning combinations are there? The National Lottery has 14 million, surely there is a profit to be made by a super rich person?

edit- just looked it up, the odds are 1 in 117 million LOL, if you bought every combination you'd lose 17 million. Not to mention you could end up sharing the draw with a lucky person who won fairly.

edit2 - actually you'd lose way more than that because it's £2 a ticket.
 
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Don't get me wrong lukeharvest, I'm not going to say I don't ever play it but with me it's more a thing of I've gone into a shop, my bill has come to £9, so I just get a ticket with the change to round it off to a tenner.

What I wouldn't do though is spend £100 on lottery tickets like the post I was replying to in the one you quoted.
 
ScoTTyBEEE said:
No every line you buy, every line everyone else buys :D. Damn other people, stop buying tickets.
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Well yes that too, but even if people stopped buying raffles line now and you went out and doubled how ever many you had you still wouldn't be 'doubling' your chances so every extra raffle line you buy does become less cost efficient regardless of what others are doing.
 
estebanrey said:
Don't get me wrong lukeharvest, I'm not going to say I don't ever play it but with me it's more a thing of I've gone into a shop, my bill has come to £9, so I just get a ticket with the change to round it off to a tenner.

What I wouldn't do though is spend £100 on lottery tickets like the post I was replying to in the one you quoted.
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You've got to be in it to win it.
 
desires said:
How many winning combinations are there? The National Lottery has 14 million, surely there is a profit to be made by a super rich person?

edit- just looked it up, the odds are 1 in 117 million LOL, if you bought every combination you'd lose 17 million. Not to mention you could end up sharing the draw with a lucky person who won fairly.

edit2 - actually you'd lose way more than that because it's £2 a ticket.
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Not entirely true as you'd win a lot of the smaller prizes as well.
 
estebanrey said:
Buying more raffle lines does increase your chances but it is not proportional like the standard lottery.

Very simple example, lets say there are only two people in a raffle, me and you and we both have a line each. We both have a 50% chance of winning. However if I then buy another line, increasing the total number in the pot to 3, my chances of winning are now 66%, so I haven't doubled my chances of winning.

So every extra line you buy becomes less and less cost effective in regards to your chances of winning.
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The effect is totally negligible when you scale it up to the millions of tickets though...
2 in a million and 1 is effectively double 1 in a million
 
Zogger said:
The effect is totally negligible when you scale it up to the millions of tickets though...
2 in a million and 1 is effectively double 1 in a million
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Also when you consider the fact shops have been selling tickets at a rate of 800/second, the number of raffle tickets are much higher and the effect even more negligible.
 
lukeharvest said:
Also when you consider the fact shops have been selling tickets at a rate of 800/second, the number of raffle tickets are much higher and the effect even more negligible.
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Yes but the very thing that is making the effect more negligible is also reducing your overall chances of winning just as dramatically.
 
estebanrey said:
Yes but the very thing that is making the effect more negligible is also reducing your overall chances of winning just as dramatically.
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On a large scale, but not one person. There's probably 10 million tickets sold already, and as someone pointed out, adding one more ticket really makes a negligible effect on the overall odds. 2/10000001 is practically double 1/10000000.
 
It would be great if it when it got to this kind of jackpot, it went into a percentage mode for the first 3 top levels of winners, where they won a scaling share of the pot.
 
Ofcourse the odds are well against you, else it wouldnt be the lotto.

All you need to know is that there are going to be 100x millionaires and you could be one of them. Its a total dream but its not impossible and completely life changing if you got either the million or the jackpot. If you dont win, life goes on and youve lost £2.
 
lukeharvest said:
On a large scale, but not one person. There's probably 10 million tickets sold already, and as someone pointed out, adding one more ticket really makes a negligible effect on the overall odds. 2/10000001 is practically double 1/10000000.
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Yes and the point I was making was that both those odds are nigh on 0.
 
desires said:
Good point! I didn't think of that. If I cared enough I'd work out how much you'd win if you bought all the combos, I don't care enough though.
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You wouldn't be able to work it out unless you know how many tickets were purchased in general anyway as other than the really low prizes, the rest aren't set and are like the jackpot, based on how many total tickets have been sold.
 
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lukeharvest said:
So, it's the lottery? It's obvious from the fact you buy a ticket for £2 and have the possibility of winning £105 million that the odds are nigh on 0.
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You've missed the point of what I was saying.

I pointed that in a raffle, you do not increase your chances directly proportionally for each extra line you buy. Someone replied saying that effect is minimised though they more tickets that are sold, hence my reply was simply saying that whilst that is true, it also makes the point of "doubling" your chances more futile at the same time as double of 0.0001% is still extremely unlikely.

Nevermind
 
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