The above odds table for Canada's Lotto Super 7 are based upon 3 number sets (bets/tickets). When one Lotto Super 7 ticket of seven numbers is purchased for $2.00, the Lotto Player receives one play of a set of 7 picked numbers or a quick pick combination and also receives two additional, randomly selected, 7 number sets/bets. The actual odds of winning a SINGLE 7 out of 47 Lottery play is 1 to 62,891,499
Submitted by Shosha
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<> (Submitted on: Fri Mar 02, 2001) 96
Could The Lottery Be A Value Bet?Rate It [ 0.00 / 0 Votes ]
Any thoughts? Normally, state and national lotteries offer poor value to the gambler. For example, the National Lottery in the UK requires the participant to spend £1 and pick 6 correct numbers from 49 to land a jackpot prize of around £7,000,000. Nice money if you can get it, but the odds of picking 6 from 49 are just under 14,000,000 to 1, so overall the bet is very poor value. However, lotteries can offer good value if the jackpot available is rolled over enough times to exceed the odds against you. Thus, if the jackpot for a 6 from 49 lottery exceeds £14,000,000 because it has been rolled over from previous weeks, then technically the bet does offer good value. If you already play a state or national lottery, find out how much the jackpot needs to be before it offers you good value for money. The odds against you winning will still be enormous, but at least you'll know that, technically speaking, you're getting a good deal.
Numbers Matched Odds
Normally, state and national lotteries offer poor value to the gambler. For example, the National Lottery in the UK requires the participant to spend £1 and pick 6 correct numbers from 49 to land a jackpot prize of around £7,000,000. Nice money if you can get it, but the odds of picking 6 from 49 are just under 14,000,000 to 1, so overall the bet is very poor value.
