Monday, May 12, 2014

Lottery odds and horse racing

If you have 20 horses in a race, and you play 1 of them, chances are you will lose. But if you play 2 or 3 of them, you will probably still lose. If you played 9 of the 20, you would still probably lose. To have odds in your favor, you would need to play at least 11 of the 20 horses. This is why spending more than $1 or $2 on lottery tickets for any one drawing does not work. Spending $10 on one drawing does nothing to increase your odds, since they are so high to begin with. You would need to cover more than half of the lottery combinations to have odds in your favor. It is always best to play the smallest amount in any lottery drawing, with $1 or $2 at the most.