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Yes it does. It's still quite small but it certainly is double.
Even if you bought all possible outcomes you would lose lots and lots of money.
What if you buy all the tickets your chances would be 100/100
you know how the jackpot gets to be a million dollars? because people buy tickets, if you bought all the tickets youd at best only get back what you bought
Each ticket you buy is a 50 50 chance right? You're either gonna win or you're gonna lose...
If the chance of winning is 1/100 it does.
No then it'd be 2/101
No. If s ticket has a chance of 1/100 then the chance of wining with either is 1 - (99/100)*(99/100) which is aprox 2/100. Why did you add 1 more ticket number out of nowhere?
My guess is this is largely a misunderstanding down to different types of lottery. This would apply to the 'draw a name from a hat' approach. But not a 'pick a set of numbers' approach.
I guess you are right. Op should clarify the mechanics of the lottery.
We as science students are taught that when its 0.019 its ≈0.02 so ill take it as double.
The understanding is that:
You have a ticket with 1/100 of a chance to get a prize
If you buy another ticket the odds would go up by one
And that would make your original ticket worth 1/101
And make the other ticket be worth 1/101 as well
And if you add them together you get 2/101
Which isn't double of 1/100
Didn't know it worked like this, where i live you choose a set of numbers and you win if they get drawn. Even so, 2/101 is very close to the double of 1/100
Yeah but not exactly double
Depends on the lottery...
Why not
if there where only 4 tickets and you bought two then your chances are doubled. (i think thats correct math,
The arguments here just prove why the lottery works so well as a tax. 😶