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Why do so many people gamble and the probability of winning is very low?
Wiki User
∙ 10y ago
People often look at the expected value of the outcome rather than only the winning probability. So with bigger prizes, the probability of winning can be lower and still remain attractive.
Many people experience a buzz out of gambling and it can be very addictive.
Also, there are some games where the probability of winning can be increased - legally. A good Poker player, for example can expect to win at a table full of less expert players.
Wiki User
∙ 10y ago
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What is the probability of winning the lottery depends on how many tickets you buy?
It is a true statement. If you buy them all, the probability of your winning is 1!It is a true statement. If you buy them all, the probability of your winning is 1!It is a true statement. If you buy them all, the probability of your winning is 1!It is a true statement. If you buy them all, the probability of your winning is 1!
What is the chance of winning a 9 number bingo?
1 and how many people are there
Out of 28295 people 21786 are male what is the probability they will be chosen?
The answer depends on how many are chosen at a time.
What is the winning lotto numbers for Wednesday?
many people are trying to win but day can'
How many people gamble?
There are over 6 billion people in the world with over a few billion being children and people from poor countries that cannot afford to gamble, but there is approximately 1.6billion people gambling during any given year with over 4.2 billion people having gambled at one time or another, through card games and professional stakes.
What is the probability of winning the lottery depends on how many tickets you buy?
It is a true statement. If you buy them all, the probability of your winning is 1!It is a true statement. If you buy them all, the probability of your winning is 1!It is a true statement. If you buy them all, the probability of your winning is 1!It is a true statement. If you buy them all, the probability of your winning is 1!
What if your probability of winning the lottery depends on how many tickets you buy.?
Probability(tickets), or P(t)
How many people Gamble and don't win?
The answer is simple: the majority of them. Casinos are businesses and they want to make money, so their games are made to make more people lose than win. If most people were winning, casinos would go broke immediately.
Why do so many people visit macau?
mostly to gamble
Probability of winning is 40 percent how many times will you win if you play 10 times?
The expected result is 4 times.
Who is the gambler?
Many people gamble although it's a bad thing.
How many people gamble in Las Vegas?
50 million/year
Can you legally gamble?
In many, many places in the world yes, you can legally gamble.
How many pages does The Gamble - book - have?
The Gamble - book - has 400 pages.
Is it possible to calculate the probability of a complex event such as blindfolding an average person and asking them to score a basket on a basketball court?
For complex events, it is possible to calculate the probability of events, but often extremely difficult. In the given example, for an "average" person (that would need some definition to start with) you would need to know the probability of them scoring a basket without the blindfold - this can be found by observing a number of "average" people attempting a number of baskets and seeing how many are successful (the greater the number of observations, the better the accuracy of the [estimation of the] probability. Also, the effect of blindfolding them needs to be found - this is not so easy, but some measure could possibly be made - and then combining this effect and the probability found some estimation of the probability of the required event can be calculated. Someone has analysed tennis scoring and given the probability of one of the players winning a point (which can be estimated fairly accurately through past observation) has calculated the probability of them winning the match; however, each match (and even a game within a match) can be affected by further factors (eg one player suffering a small injury) which modify the probability of winning a point, but a calculated probability can still be made.
How many people were at the parade in Boston after winning the Stanley cup?
2,000.000
What is the chance of winning a 9 number bingo?
1 and how many people are there
