Is lotto a fair game?

Question

Is lotto a fair game?

Answer 1

It depends how you define fair.

Generally the odds of you hitting a prize are far less than what you actually get paid.  In other words you might have to beat odds of 50-1 to win $8 or something like that.

Frequently the jackpot will be an actual post-tax cash value of $50m or less, yet the odds of winning are over 150m to one.

So from that perspective it's not really fair.

Is it honest and really random?  I think so.  I find it hard to believe that a company could keep a scam going for so long where the draws were rigged without some disgruntled staff member going to the media.

Answer 2

Your chances of winning the Lottery are slim to none. the way lotteries work are by charging $5 for a chance to win 2,500,000 dollars. If  1,000,000 people enter for a chance of riches. they make 2,500,000 thousand dollars for doing absolutely nothing.

Your chances of winning the Jack pot are  175,711,536 to 1

Answer 3

All games are fair if the odds for the game is known and no trick up the sleeve.

Remember, it's your choice to play.  They tell you fairly what you're getting into.

Answer 4

Personally, I think your chances of winning are only slightly better than if you'd never been born.