Description
Mathematics of Keno and Lotteries is an elementary treatment of the mathematics, primarily probability and simple combinatorics, involved in lotteries and keno. Keno has a long history as a high-advantage, high-payoff casino game, and state lottery games such as Powerball are mathematically similar. MKL also considers such lottery games as passive tickets, daily number drawings, and specialized games offered around the world. In addition, there is a section on financial mathematics that explains the connection between lump-sum lottery prizes (as with Powerball) and their multi-year annuity options. So-called "winning systems" for keno and lotteries are examined mathematically and their flaws identified.
Table of Contents
Chapter 1. Historical Background
1.1 History of
1.2 History of Lotteries
Chapter 2. Mathematical Foundations
2.1 Elementary Probability
2.2 Addition Rules
2.3 Conditional Probability
2.4 Random Variables and Expected Value
2.5 Combinatorics
2.6 Binomial Distribution
Chapter 3. Keno
3.1 Standard Keno Wagers
3.2 Game Variations
3.3 The Big Picture
3.4 Video Keno
3.5 Keno Side Bets
3.6 Keno Strategies: Do They Work?
Chapter 4. Lotteries
4.2 Passive Lottery Tickets
4.3 Lotto Games
4.4 Games Where Order Matters
4.5 Powerball
4.6 Lotto Strategies: Do They Work?
