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- Jan 26, 2012

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1) What are the chances of winning the grand prize by correctly guessing all 6 numbers?

2) Assuming that each ticket costs $2, how big must the grand prize be in order for the ticket to not be an investment with an expected negative return? In other words, when does it become logical to play the lottery (assuming just 1 grand prize winner)?

Bonus: If it is known that 10,000,000 lottery tickets will be purchased in addition to your ticket, what is the probability that you are the only winner of the grand prize and get to keep all the money for yourself?

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