Post
Topic
Board Gambling
Re: Lotteries and possibility vs. probability
by
TobeyHolo
on 18/09/2023, 08:19:07 UTC
For many U.S. lotteries, approximately 50% to 60% of ticket sales are returned to players in the form of prizes. This means that for every dollar spent, only $0.50 to $0.60 is returned to players on average, and $0.40 to $0.50 is "lost" from an EV perspective.

This is significantly worse than any gambling game in any casino or slot.