Author: riser
Since my last article (http://newspaper.miniconomy.com/2010/11/18/is-the-fed30-lottery-worth-investing-money/), I’ve learned new things about the fed30 lottery. I would like to thank Alejandro Clemente and beagollum for this extra information.
It seems that it is possible to win many prizes in the fed 30 lottery with a single ticket. As I’ve not yet won more than 30 ISH I’ll take their words for granted…
So the formula becomes:
Value = probability of winning the jackpot x jackpot + probability of winning 300 ISH x 300 ISH + probability of winning 30 ISH x 30 ISH
Value ticket = 1/1000 x jackpot + 10/1000 x 300 + 100/1000 x 30 = jackpot /1000 + 3 + 3 = jackpot/1000 + 6
With this new formula, you need the jackpot to be 4000 or more. So with 4000 jackpot, in the long run, you would get about the same as you paid. So we still need a 5000 ISH pot to truly win money.
For every 10 ISH ticket you get an estimated value of 11 ISH. If you use the last digit trick described before. You would usually pay 70 ISH to buy 10 tickets and get an estimated value of 80 ISH or a 14,28% increase which is much better than a 5.71% increase.
Does it change anything? No, it doesn’t. Buy some when you have extra money sitting in a corner and the pot is 5000 ISH or invest in your trade otherwise.