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In case you haven't heard, the Mega Millions lottery reached an astonishing $648 million this week. Here we'll look at the question of how much money you could expect to win from this lottery. So it looks like investing in the stock market is a pretty good way to spend a dollar, while playing roulette will lose you some money. We could calculate the probability of getting all 6 numbers right (using a branch of math called combinatorics), but we'll skip that step for now.
Anyway, let's figure this out: for every $1 you spend on the Mega Millions, how much could you expect to win?
Here's a simpler example: suppose you roll a fair die (numbered 1-6), and you win a number of dollars equal to the number that comes up on a roll.
As far as we know, the Mega Millions lottery doesn't publicly announce how many tickets are sold, but it's probably in the many hundreds of millions for big jackpots like this one.
With these numbers, you can expect to make $1.42 off of every dollar you put in the lottery.



So to summarize, for every $1.00 you spent on Mega Millions, you could expect to lose about 40 cents.
The views expressed in the contents above are those of our users and do not necessarily reflect the views of MailOnline. ATLANTA (AP) -- The Georgia Lottery will hold an extra Cash 4 Evening drawing on July 5, giving ticketholders two chances to win on the same ticket.
Tandi Reddick, the lottery coproration's nedia relations manager, says the extra drawing is intended to make up for a machine malfunction on June 7. In other words, for every dollar you spend playing the Mega Millions lottery, how much money could you expect to get back?
In each Mega Millions game you play, you select 5 numbers between 1 and 75, and then one addition number between 1 and 15. But if we include a jackpot of $648 million, the calculation becomes a little more challenging, because that prize can be split if there's more than one winning ticket. Let's say enough tickets were sold so that we can expect (there's that word again) about 2 winners.


Any time the lottery exceeds about $250,000,000, your expected winnings are greater than $1.00, so it seems like a good idea to play. The government may not tax you much when you win $50 for matching a few numbers, but you can bet they'll tax your jackpot prize (or the $1 million prize for matching 6 numbers).
All tickets purchased for that evening's drawing will be eligible for the bonus drawing too.
The odds in a $1 a€?Fast Casha€™ scratch-off are one in 4.64, and its top prize is only $10,000. And you actually lose at lot more (closer to 40 cents) if you decide to take your winnings all at once.
The 10-cent loss is only if you let the lottery make smaller payouts to you over the course of 20 years (and they don't account for inflation).



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