Re: Lotteries
Jay Malmstrom (malmstrm@QNS.COM)
Sun, 19 Jan 1997 16:30:13 CST
One doesn't need to use the big lotteries to use as an example of a game that
favors the house. The Maryland Pick 3 and Pick 4 lotteries are a smaller
example which can be developed using about 30 minutes of class time. In the
Pick 4 lottery, an individual buys a ticket for $5 and selects 4 numbers from 0
to 9 (repetions allowed). If your numbers are selected in the order you chose
them (i.e. 0123 is different from 0231), you win $1000. When I was out in
Maryland, they played this game five days a week in addition to the larger Lotto
games. The lottery authorities got in some trouble because they ran an ad
campaign targeting inner city youths.
Jay Malmstrom
Oklahoma City Community College
malmstrm@qns.com