Jinsi ya kukokotoa Lottery Expected Value
Lottery Expected Value ni nini?
The expected value (EV) of a lottery ticket is the average return per ticket purchase, calculated as the jackpot divided by the odds of winning, minus the ticket cost. Almost all lottery tickets have negative expected value — they are, mathematically, a losing proposition.
Fomula
- EV
- (Jackpot / Odds) − Price — (Jackpot / Odds) − Price
Mwongozo wa Hatua kwa Hatua
- 1EV = (Jackpot × Probability of winning) − Ticket cost
- 2Or equivalently: EV = (Jackpot / Odds) − Price
- 3If EV is negative, you lose money on average
- 4Note: real EV is even worse due to income taxes on winnings (often 30–40%)
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What is Lottery Expected Value?
The expected value (EV) of a lottery ticket is the average return per ticket purchase, calculated as the jackpot divided by the odds of winning, minus the ticket cost. Almost all lottery tickets have negative expected value — they are, mathematically, a losing proposition
How accurate is the Lottery Expected Value calculator?
The calculator uses the standard published formula for lottery expected value. Results are accurate to the precision of the inputs you provide. For financial, medical, or legal decisions, always verify with a qualified professional.
What units does the Lottery Expected Value calculator use?
This calculator works with inches, percentages. You can enter values in the units shown — the calculator handles all conversions internally.
What formula does the Lottery Expected Value calculator use?
The core formula is: EV = (Jackpot × Probability of winning) − Ticket cost. Each step in the calculation is shown so you can verify the result manually.
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