Mathematics of Keno and Lotteries [Paperback]

Mathematics of Keno and Lotteriesis 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.

Chapter 1. Historical Background

1.1 History of

1.2 History of Lotteries

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

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?

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?

Mark Bollmanis Professor of Mathematics and chair of the Department of Mathematics & Computer Science at Albion College in Albion, Michigan, and has taught 111 different courses in his career. Among these courses is Mathematics of the Gaming Industry, where mathematics majors carefully study the mathlC¾