1 in 10 chance of winning 19,510 Prizes!

Chances

Hospital Research Foundation Home Lottery – calculation of chance of winning

Advice has been sought and received, based on this framework:

Calculations have been undertaken on the number of prize draws that would need to be made so that the chance of a ticket holder winning a prize is 1 in 10, on the assumption that all tickets are sold. If all tickets are not sold, the chance of winning will be more favourable than 1 in 10, for the calculated number of prize draws.

For the purposes of calculations, it has been assumed that the ticket that is purchased is not eligible for any of the bonus draws, which produces a more conservative calculation of the chance of winning (by removing the additional draws).

For a single draw, each ticket number has an equal chance of being drawn, meaning that there is a 1 in 185,000 chance of being drawn.

Initially, the calculation approach is on the basis of determining the chance of a ticket number NOT winning any prize. The complement of that outcome will then produce the chance of a single ticket winning a prize. This allows for the possibility that a single ticket can actually win more than one prize.

For any single draw, each ticket number has a 184,999 chance in 185,000 of not winning. For any individual ticket number to be “unlucky” in not winning a single prize, we need to multiply this probability together for the number of prize draws that are made. In mathematical terms, we are compounding the probability of “failure”.

If there is a 1 in 10 chance of winning a prize (excluding the additional prizes), the chance of failure must be 9 in 10 (or 0.90), or less.

The actuary has calculated the probability of “failure” for a range of prize draws, and has calculated that 19,492 prize draws would be necessary to produce a probability of failure which is 0.899998. This means that the probability of “success” would be 0.100002, which is slightly in excess of 1 in 10.

This means that there needs to be at least 19,492 prize draws (excluding any bonus prize draws) to produce a 1 in 10 chance of winning a prize.

Please let us know if there any further questions you might have on the number of chances to win.

We thank you for your support and wish you all the best in all the draws. Good luck!

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THIS GRAND PRIZE IS WORTH $2.9 MILLION!

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Your purchase of tickets in the Hospital Research Home Lottery provides funding for research and improved patient care in South Australian hospitals.