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Ok, so this is not the best idea in the world...hence the title. But I was thinking of ways of "increasing your chance of winning the lottery with public information" (AKA decreases your chances of losing more money with recklessness).
So the state's lottery website posts the stats of their scratch off games:
This way, you are able to calculate which scratch off games are more likely to have profitable tickets remaining.
You create a formula comparing
You turn these mathematical results into a percentage and compare it to the results of all the other tickets that are sold. At this point, you purchase tickets that have the higher ranking.
For example:
Ticket 1 - 97.5% win factor
Ticket 2 - 83% win factor
Ticket 15 - 4% win factor
The one problem I see here is that they do not report the total number of tickets sold. So we have no way of knowing the quantity 'losing' tickets are sold. Without that piece of information, the formula is not complete.
But without that complete formula, will this still give you better odds than playing the lottery blind? It will decrease your chance of buying tickets with not many prizes remaining at the very least.
Slowlane application
Go out and buy 100 of the tickets with the greatest success factor based on the results, and see if your return is greater than what you put in. Wait a day (when the state updates the table), re-analyze the odds and buy the ticket with the highest rank.
If you want to accurately measure the formula, buy the highest ranked one, and then compare the results over time to the lowest ranked one.
Think blackjack strategy: Odds are probably against you still, but it makes you feel better about playing.
Fastlane application
Create a tool to capture the results (analyzes it daily over the course of 5 minutes for you), and sell the rankings to customers who buy a lot of tickets.
So this is my brainstorming exercise for the month: What feedback do you have? I know it is flawed and not an absolute path to success by following the formula, but could be interesting.
To add this: This is not my fastlane 'plan', but just a brainstorming exercise for everyone.
So the state's lottery website posts the stats of their scratch off games:
- Cost of ticket - $5
- Overall Odds - 1 in 3.97
- Launch Date
- The prize value per winning level ($5, $10, $10,000)
- The number of prizes for each level
- The remaining winning tickets for that value
- The total prize pool remaining broken down by level/amount and the total amount of prizes remaining broken down by prize amount
This way, you are able to calculate which scratch off games are more likely to have profitable tickets remaining.
You create a formula comparing
- The number of winning tickets left in comparison to how many overall tickets there are (winning tickets remaining x overall odds will show the total number of winning tickets)
- The odds of winning that game
- How much money is left in the prize pool
- ...and a few other things that I won't list because dinner is almost ready
You turn these mathematical results into a percentage and compare it to the results of all the other tickets that are sold. At this point, you purchase tickets that have the higher ranking.
For example:
Ticket 1 - 97.5% win factor
Ticket 2 - 83% win factor
Ticket 15 - 4% win factor
The one problem I see here is that they do not report the total number of tickets sold. So we have no way of knowing the quantity 'losing' tickets are sold. Without that piece of information, the formula is not complete.
But without that complete formula, will this still give you better odds than playing the lottery blind? It will decrease your chance of buying tickets with not many prizes remaining at the very least.
Slowlane application
Go out and buy 100 of the tickets with the greatest success factor based on the results, and see if your return is greater than what you put in. Wait a day (when the state updates the table), re-analyze the odds and buy the ticket with the highest rank.
If you want to accurately measure the formula, buy the highest ranked one, and then compare the results over time to the lowest ranked one.
Think blackjack strategy: Odds are probably against you still, but it makes you feel better about playing.
Fastlane application
Create a tool to capture the results (analyzes it daily over the course of 5 minutes for you), and sell the rankings to customers who buy a lot of tickets.
So this is my brainstorming exercise for the month: What feedback do you have? I know it is flawed and not an absolute path to success by following the formula, but could be interesting.
To add this: This is not my fastlane 'plan', but just a brainstorming exercise for everyone.
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