Lottery Expected Value Calculator
Is it worth playing the lottery? What is the ROI of buying a lottery ticket? Is there a limit where the jackpot is big enough where it actually makes sense to put your money into lottery tickets? Does your chances grow if you buy more tickets? The Lottery Expected Value Calculator helps you find out.
Expected Value Calculator
How Accurate Is The Expected Value Calculator?
Lottolibrary's expected value calculator gives a good estimation, but not completely accurate. Some of the factors that can lead to inaccuracies:
- For simplicity's sake the expected value calculator deals only with the jackpot prize: it does not take into account smaller prizes, which can slightly increase the expected value.
- The calculations assume that the number of winning tickets follows a binomial distribution.
How Does The Number Of Tickets Sold Effect The Expected Value?
The bigger the number of tickets sold, the smaller the expected value will be. The more tickets are sold, the more likely it will be to have multiple winners. If there are multiple winners, the jackpot is split among them, so the winnings will be smaller, and the expected value decreases.
How Does The Price Of A Lottery Ticket Effect The Expected Value?
The higher the cost of buying a ticket is the lower the expected value will be.
What Are The Odds of Winning The Lottery?
If you are looking for a lottery odds calculator, we have a Lottery Odds Calculator Tool to help you out.
Which Lottery Game Has The Best Odds?
If you are looking for a comprehensive comparision of lottery games, you should definitely check out our Lottery Odds Comparision Tool. It has an extensive database of the winning odds of all the lottery games in the world.
For What Games Can the Lottery Expected Value Calculator Find the Expected Value?
Using this calculator you can get the odds for any lottery game. We've included presets for the most popular games like Powerball, Mega Millions, Pick3, Pick4, Hot Lotto, Euromillions, Lucky for Life and Thunderball.
You are not limited to these presets though: by choosing the
Custom Game option you can tweak the parameters and see how the expected value changes or check the odds of any theoritical game.