Pointless Math Stuff (or not)
Jim Green does some math stuff about buying more than one card.
Buying just one card in any game you play gives you the best theoretical return on your money.
This was a surprise when I first discovered the maths too.
Basically, buying one ticket when there are 99 other tickets gives you a 1/100 chance of winning. Your Expected Value (prize*probability of winning)-entry fee is 1-1=0
Buying two tickets when there are 99 other tickets gives you a 2/101 chance of winning 101. Your Expected Value is 101*(2/101) - 2 = -0.01
Article continued on: Bingo Welcome Bonus
This was a surprise when I first discovered the maths too.
Basically, buying one ticket when there are 99 other tickets gives you a 1/100 chance of winning. Your Expected Value (prize*probability of winning)-entry fee is 1-1=0
Buying two tickets when there are 99 other tickets gives you a 2/101 chance of winning 101. Your Expected Value is 101*(2/101) - 2 = -0.01
Article continued on: Bingo Welcome Bonus
Related Articles
Bingo Lingo
Bingo afficionados have a language of their own, when you combine that with internet abbreviations, it gets pretty confusing.
Online Bingo the Same as Traditional Bingo?
Bingo has evolved through the years, and with huge jackpots and differing rooms, you can rest assured that this is not your grandmother's bingo.
"Pointless Math Stuff (or not)" User Comments
No comments posted yet.
What are your comments on this article?
