Lotto (Scripts) Publisher's description
from Mike Sheppard
Unlike casinos, lotteries are different in that you do not receive your wager back if you win
Unlike casinos, lotteries are different in that you do not receive your wager back if you win. For casinos a win is a win is a win. For lotteries you may spend $100 and win 30 times at $3 each and still be $10 behind. As such, the probabilities that are calculated are not the probability of winnings (which increases the more tickets you buy), but of winning at least the amount you paid for the tickets to begin with. (i.e. probability of break even or profit). These probabilities depend on the number of tickets you bought in relation to the distribution of prizes.
Computes the probability of winning at least your wager back in prizes, given a payout table and odds or probability table, versus the number of tickets bought. A 'multiplication' table for prizes can optionally be included. Also computes the optimal strategy and median amount of winnings for each case, as well an option to graph the results.
Examples are given in the comments of real-world lotteries for selected states, including MegaMillions and PowerBall. An explanation of the outputs in relation to those state lotteries are also given.
Contact information is included in the comments.
Suggestions and comments welcome.
System Requirements:MATLAB 7.7 (R2008b)
Program Release Status: New Release
Program Install Support: Install and Uninstall