Quote from: johhnyUA on November 20, 2020, 10:57:56 PM

Quote from: GreatArkansas on November 19, 2020, 03:52:10 AM

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As i see here, we have 100 2-digit numbers. That means that probability to hit needed number is 1/100.

So, let's count EV: 1/100 * 16 = 0.16 USD

And you need to bet 0.20

Difference is -0.4 USD per very your bet. So the best strategy is do not bet on this lottery

Best regards, your johhny

+1
Beautiful way to calculate it for a simple lottery bet, in "pot odds" in this case 1:5 how profitable a bet is in the long term and why it must be made or withdrawn at a certain time.

However, I would like to add that if you make this bet, your pot-odds are 1: 5 or what is the same for every 100 times you bet, you will have losses of $ 4* it if you are lucky enough to win 1 time. (Prize $16)

That's the thing with certain games, make a bet of as little as $ 0.20 to get $ 16 looks cool, Yes! but if you're just looking to have fun.
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Difference is ~~-0.4 USD~~ per very your bet
Difference is -0.04 USD per very your bet
Just add that it is 0.04, anyway thanks for the calculation.