Lottery results

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GM

Legendary Member
The problem for small investors, allegedly, is that big lottery winners invest large amounts of their winnings in PBs, and as each bond is equal the odds of yours winning worsen.

Small investor! that was a good week's wages then.... I'm afraid you've baffled me with your maths. Give me a couple of hours, I might have understood it then.

OT... Hope the weather is kind on the ride tonight for you. Would have liked to have been doing this one. Alas, work got in the way.
 

srw

It's a bit more complicated than that...
The problem for small investors, allegedly, is that big lottery winners invest large amounts of their winnings in PBs, and as each bond is equal the odds of yours winning worsen.
Not the case. Each given bond has an identical probably of winning any given prize - whether it's one of my three (bought for me when I was about three), or one of a lottery winner's 50,000 (the maximum they're allowed).

But simple maths says that if you've only got three tickets into a lottery you've got much less chance of winning than if you've got 50,000.

The total prize fund is set relative to the total amount invested (at the moment the payout ratio is equivalent to interest of 1.35% per year), so extra tickets don't dilute the prize fund.

Sadly, I'm not going to be there either tonight, to explain how ERNIE works and is tested for randomness, and how the NS&I investment pool is designed to make it attractive for individuals to lend to the government.
 

Accy cyclist

Legendary Member
Play the lottery to stop Katie Price winning it says the advert.:rolleyes: By playing the lottery you're funding her fees for the advert.There's only one winner here and it ISN'T you.
4221396001_4347755991001_KATIE-THUMB.jpg

:thumbsdown:
 
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