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Winless Lottery Steak and Generalized Geometric Distribution
Department of Mathematics, Kean University, Union, NJ, USA
- 1 Department of Mathematics, Kean University, Union, NJ, USA
Journal of Mathematical Finance·Volume 14 (2024)·Pages 311–316·Published 20 June 2024·DOI10.4236/jmf.2024.143017
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Abstract
In the U.S., the two most popular lotteries are Mega Millions ® and Powerball. In Mega Millions ® , players pick six numbers from two separate pools of numbers, five different numbers from 1 to 70, and one number from 1 to 25, a total of six numbers. In Powerball, players choose five numbers from 1 to 69 and one number from 1 to 26. If there is no winning ticket this time, the amount of jackpot (matching all six numbers) increases for the next draw until a winning ticket is found. We estimate the average number of draws it takes for a winning lottery ticket to be found.
KeywordsLotteryGeometric DistributionExpectationTelescopic SeriesGeometric Series
- Ross, S. (2023) A First Course in Probability. 10th Edition, Pearson.
- https://www.megamillions.com/
- https://lottoreport.com/
- https://www.powerball.com/