Euromillions winners.....

tiler65 said:
Not quite right. each ticket must be unique for that theory to work.
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But more right than "no difference between 1 person and 58 people."
 
Very true, but was striving for general understanding rather than strict accuracy. We could start to discuss the odds of all 7 million picking a unique line (yes I am that geek)
 
Lynton said:
Surely that's the whole point of a lottery / raffle / tombola / draw ....



Erm no - chances of winning A prize on the normal lottery (i.e. weds or sat one) is approx 1:50 (give or take a little)

So if town < 50 population and/or not everyone buys a ticket then yes. However most towns have 1000 or more people in them, so I am sure that for any given random town someone will win.
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Because that's what we're talking about, somebody winning £10:bonk:

People don't do it because they think they'll win £10, they do it because they think they'll win millions and they won't
 
wack61 said:
Because that's what we're talking about, somebody winning £10:bonk:

People don't do it because they think they'll win £10, they do it because they think they'll win millions and they won't
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Well, quite clearly some will.......... :lol:

However I get where you are coming from.

To me it's a bit of fun and if there's a big jackpot I may buy a line if I think of it when in the newsagent..... not expecting to win anything, let alone anything large, however my chances of winning are a damn sight higher than the guy who doesn't have a ticket.
 
Lynton said:
Well, quite clearly some will.......... :lol:

However I get where you are coming from.

To me it's a bit of fun and if there's a big jackpot I may buy a line if I think of it when in the newsagent..... not expecting to win anything, let alone anything large, however my chances of winning are a damn sight higher than the guy who doesn't have a ticket.
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Exactly. But still not that far off from zero :)

I wonder what proportion of all the possible combinations of numbers are bought each time? If that is a higher proportion then the probability of someone at all winning is higher than if that proportion is lower if I have understood probability properly.

Still more likely to be hit by lightening then flattened by a falling grand piano than win the jackpot, even if you do buy a ticket! If only I knew how to build an infinite improbability drive :D
 
srichards said:
I wonder what proportion of all the possible combinations of numbers are bought each time? If that is a higher proportion then the probability of someone at all winning is higher than if that proportion is lower if I have understood probability properly.
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Hehe, you might have understood probability, but one of us needs a lesson on English as I don't know what all that says...

Though if I got the gist of it, the easiest way to work this out without knowing the actual answer is simply to see how often the euromillions jackpot rolls over. Looks like it's more often than not, so we can conclude that less than half all possible lines are taken in any given week.

The lottery only becomes a sound financial decision when the average (mean) expected payout is greater than the entry price, which does happen in those huge jackpots. So, much as we all mock those who only play the huge jackpots because the small ones are too small, they are making in strict terms the right financial play.
 
I have a suggestion on what the Jackpot winners could spend the money on . . .

SpaceShuttleCartoon.jpg
 
Mank said:
I would have been gone as soon as I had the money. :lol:

And didn't they say they're even going to buy a ticket for next weeks? Why? :thinking:
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presumably to give others a chance like them to win £160m+


mj4456 said:
I'd want it all in £100 notes and just sit surrounded by it for a bit, then stick it into a nice steady interest account at say 6% and live on the daily £25kish interest
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where can I get one of these 6% accounts? Best I can get is less than half of that....



Steep said:
Erm no - the chances don't change on population size, if it's 1:50 for one ticket then it's 1:50 for each individual ticket regardless of how many are bought.

I think the odds on a jackpot win for the UK lottery is 1:57mil, if I buy 6 lines I have 6 single 1:57mil chances (not 6:57mil)
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The odds of getting the jackpot in the UK are about 1:14m

Also 6 times a 1 in 57m chance is exactly 6 in 57m! The point is there are 57millions combinations of numbers coming out, if you have 6 different combos you have a 6 in 57m chance (unless you buy more than 1 ticket with exactly the same numbers on it)
 
Wow all these stats are doing my head in. The way I see it, if I have bought a ticket, I have a chance. Having that chance gives me the luxury of dreaming what I might do with that amount of money. FWIW I would never go public. For the same reason I would never ever want to be famous. I would sort out family/friends and hopefully be sensible with it, oh and buy a gorgeous lotus!
 
Byker28i said:
£161m. Put it into savings and live off the half the interest, with the other half topping up the lump sum. Give small amounts away regularly to worthy causes. Give yourself the odd treat
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what bank would you trust with £161m! lol

But UK govvies should do ok for them even at the abysmal rate
 
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