The expected value when you purchase a lottery ticket is -$2

The expected value in lotteries represents the average amount one might expect to win per ticket It is calculated by multiplying the prize

The expected value in lotteries represents the average amount one might expect to win per ticket It is calculated by multiplying the prize

expected value of lottery ticket He knows that lotto games have an expected value of only 50-70¢ on the dollar, while while games like blackjack or craps return an impressive >99¢ He therefore

innathe lottery ticket The expected value argument only really works in the long term