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Patterns in Lottery Numbers
Posted by
Zonk
on Thu Nov 01, 2007 03:12 PM
from the you're-still-advised-against-playing dept.
from the you're-still-advised-against-playing dept.
markmcb writes "Most everyone is familiar with the concept of the lottery, i.e., random numbers are selected and people guess what they will be for a cash prize. But how random are the numbers? Matt Vea has conducted a pattern analysis of the MegaMillions lottery, which recently offered a sum of $370M (USD) to the winner. Matt shows that the lottery isn't as random as it may seem and that there are 'better' choices than others to be made when selecting numbers. From the article, 'A single dollar in MegaMillions purchases a 1 in 175,711,536 chance of landing the jackpot ... a player stands a mildly better chance of winning a partial prize through the selection of weighted numbers.'" Includes some excellent charts of his analysis.
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And yet, one truth escapes the analysis (Score:5, Funny)
You're already losing by buying the ticket.
Re:And yet, one truth escapes the analysis (Score:5, Interesting)
Instead of using absolute dollar figures for your analysis, you should use lifestyle impact.
e.g. One dollar a week == no lifestyle impact; $370MM payout == off the charts lifestyle impact.
This is why people will continue to play the lottery, even if mathematically it's a poor choice.
Parent
Re:And yet, one truth escapes the analysis (Score:5, Insightful)
e.g. One dollar a week == no lifestyle impact; $370MM payout == off the charts lifestyle impact.
Parent
Re:And yet, one truth escapes the analysis (Score:5, Funny)
Yes, but for less than one dollar a day (that's less than the cost of a cup of coffee), you can help change a child's life. Imagine the feeling of joy you'll get when you receive a personalized card in the mail from the child you sponsor. Call the number on your screen right now to make a donation.
Parent
Re:And yet, one truth escapes the analysis (Score:5, Interesting)
Yes, but for less than one dollar a day (that's less than the cost of a cup of coffee), you can help change a child's life. Imagine the feeling of joy you'll get when you receive a personalized card in the mail from the child you sponsor. Call the number on your screen right now to make a donation.
Turned out the kid had been dead for years. Someone kept collecting the money, though, and wrote letters.
Parent
Re:And yet, one truth escapes the analysis (Score:5, Funny)
Lou - Look Math! I won 100 bucks on the lotto!
Math - *scowling* How much did you spend on that ticket?
Lou - Well, uh 10 bucks so it's like I made $10 dollars on ever dollar I spent!
Math - *smiling evilly* Oh really? Was that the only ticket you bought this week?
Lou - Well no, but...
Math - AND... did you win on any of those tickets? How much did you spend altogether this week?
Lou - Well no but it was only another 10 so it's like I made 5 on...
Math - Please, spare me. How much have you spent this month?
Lou - Uh 80 but...
Math - and won?
Lou - with this it would be 120.
Math - Aha! You're return is more like
Lou - But overall...
Math - Lies! Statistically this year you've lost more money than you gained!
Lou - It was disposable income!!
Math - How much would that have made long term investments!
Lou - I don't know!
Math - Or how much you would have saved on your mortgage!
Lou - I don't know, I don't know!
Math - Fool, now go make me a one minute egg.
Lou - Fine, right after I put some money in a stocks so we can retire.
Math - Idiot, why bother? You have a higher probability of making money on the stock market by random selection. A monkey can make money on the stock market better than you!
Lou - *sobbing uncontrollably* I hate you! I hate you!
Math - Wait till he hears about his income tax. Muhahahaha!
I may have had to improvise some parts but that's fairly accurate.
Parent
Re:And yet, one truth escapes the analysis (Score:5, Interesting)
Basically it buys you a dream, and an opportunity to share your dreams with your friends/co-workers who are in on the ticket. Really no different from buying a piece of art for a conversation piece.
At work, we buy lottery tickets together when the jackpot is huge, and then we get to talk about the things we'd do if we won, which in effect buys me a mental vacation from the reality of having to work for a living. For a dollar every now and then, it's worth it. Besides, a losing ticket just buys social assistance projects where I'm from anyways, so it's not really a big loss.
Parent
Re:Blinded by the glamor (Score:5, Funny)
Parent
Your best bet. (Score:5, Funny)
Re:Your best bet. (Score:5, Funny)
Parent
Re:Your best bet. (Score:5, Funny)
Parent
So It's Pretty Darn Random Then? (Score:5, Insightful)
These differences aren't that compelling. To me I would say, "Congratulations, you have found some deviation from equal frequency for all balls. But this would happen in any instance of drawing these balls."
I'm concerned that this has been an exercise in deviation in pseudo random systems. The same could be done with a computer simulation and similar results would be found.
I hate to say it but this study points out to me that the lottery is actually pretty much as close to random as it could get. In fact, the summary of the paper states that if there were some event to skew this, then you could achieve a small bonus:
yes, indeed there *Are* patterns (and not) (Score:5, Insightful)
And if you look up in the night sky, you'll see an archer, a bull, a big and a small dipper.
What's your point?
You can't lose if you don't play (Score:5, Insightful)
At the astronomical odds against winning, I figure my chances of finding a winning ticket on the ground are only marginally worse than my chances of buying a winning ticket. So rather than give extra money to the government so it will be funnelled to politically connected rich people, I just watch the ground.
-mcgrew
Re:You can't lose if you don't play (Score:5, Interesting)
One of the slogans for the Illinois lottery used to be "you can't win if you don't play", but I figured every time I didn't play, I won $1. Its both stupid and ironic that many of the same people bitching about taxes pay this voluntary tax!
At the astronomical odds against winning, I figure my chances of finding a winning ticket on the ground are only marginally worse than my chances of buying a winning ticket. So rather than give extra money to the government so it will be funnelled to politically connected rich people, I just watch the ground.
I play the Mega Millions every time the numbers are drawn. We have a standing office pool with 4 of us, and we play 4 numbers every time the balls are dropped, the same 4 sets of numbers each time.
What have we won? Well, one time we won $150. But aside from that, we know that the lotto money goes into the public school system. So, in effect, I'm donating $8 - $9 minus administrative fees to the school system every month.
I'm ok with that.
And on the off chance that I ever win the lotto, none of you will ever hear from my fat ass again.
~Wx
Parent
Re:You can't lose if you don't play (Score:5, Insightful)
Parent
Re:You can't lose if you don't play (Score:5, Interesting)
They try to encourage people to play the lottery by telling them the money all goes to schools. So they direct the whole of lottery income to the schools, on paper. But the school budget is planned in budget meetings, and the ammount the lottery brings in has no effect on school budgets. For every extra dollar brought in by the lottery, that's one less dollar of general fund money that goes to the schools, and one more dollar of total money in the government's general fund.
They can write out the accounting anyway they like to and say, "see, these dollars went here," but dollars are fungible. At the end of the day, the acid test to see if it means anything to say "lottery money goes to schools" is to see what the marginal effect on school funding is of purchasing lottery tickets. That effect is 0.
Parent
Missing data (Score:5, Insightful)
While you can analyse the numbers that come up, the interesting data isn't usually available to you: namely what numbers people are betting on. For example in the UK lottery it is known that about 10,000 people a week bet on 1, 2, 3, 4, 5, 6. So that automatically is a really bad choice because if that combination came up, you would get £prize / 10,000.
Example: if lots of people bet on (eg.) birthdays, then you'd expect the people to select numbers > 31 less frequently, which means you could try to cover bets with numbers > 31 and have a greater payout. Without the distribution of betting numbers though you can't tell.
Rich.
Re:Missing data (Score:5, Interesting)
Parent
College stats course (Score:5, Interesting)
What stuck with me though we a couple of ideas:
- What happened in the past has no influence over what will happen in the future. You may have flipped seventy-five heads, but the odds of the next penny landing head or tails is still 50/50.
- The decision whether to make a bet in any game is based on a variety of factors - the size of the bet, the size of the possible prize, and the odds of winning. No one of those three is enough to make a decision, you need to know all three.
In life, as in games, you have to make decisions based on real odds, not of conjecture or media speculation. Where's the bigger risk? A falling meteor, or getting hit by a city bus? Food poisoning or a terrorist attack?Lottery and the Mob (Score:5, Interesting)
http://en.wikipedia.org/wiki/Numbers_game [wikipedia.org]
http://marketplace.publicradio.org/features/underground/1114undergroundpm.html [publicradio.org]
Re:Conclusions... (Score:5, Insightful)
Parent
Re:Conclusions... (Score:5, Insightful)
Thats like 1/.48^13th.
Random things.. happen.
Randomly- some poor investing sod out there has made every choice correctly and been hammered by random market events.
Likewise- some lucky fool (that thinks he is brilliant) has picked google or tasr or crox on some non-logical basis and won big.
That's why you use Mutual Funds and ETF's. You get average performance. You lose the home runs, but you also lose the strike-outs.
Parent
Re:Conclusions... (Score:5, Insightful)
Thats like 1/48^13.
Random things.. happen.
And guess what? Last night in Vegas, the roulette wheel spun this:
Red, Black, Black, Red, Black, Red, Red, Black, Red, Red, Red, Black, Red.
That's like 1/.48^13th.
A lot of people would be better off in understanding "randomness" if they would just realize that these two situations have exactly the same probability. Humans just assign more "meaning" to certain sequences than others.
Parent
Interesting scam based on that (Score:5, Interesting)
Pick some random stock, send email to 2*10 suckers that it will go up, and to an equal number of suckers that it will go down.
Whichever direction it moves, divide that batch of suckers in two, pick some other random stock, send half email taht it will go up and half email that it goes down.
Repeat until you have only a few suckers left. They will see you as a genius who has correctly predicted the last {n} stock moves correctly. It may be the final sucker, or the last 2, or 4, etc.
Now tout a stock you have just bought and make some money!
Parent