What is the most likely way to turn £1 into £100,000 playing the lottery or by playing roulette?
Firstly consider the odds of winning £100,000 on the lottery. Generally, for this to occur the numbers on your ticket must match 5 (out of 6) winning balls and the bonus ball.
The chances of this happening is: 1 / 2,330,636
Next consider betting on a roulette wheel. To go from £1 to £100,000 you would need to place the £1 on a chosen number. This would generate £36 which then needs to be all placed on a single number again and once again to generate £46,656 this can then be placed on red or black to generate the £100,000.
The probability of winnign when the amount is all placed on a single number is 1/37. The probability of each colour coming up is 17/37 for black and red and one 0.
So the chance of the of the scenario described above occuring is 1/37 x 1/37 x 1/37 x 18/37 = 1 / 104120
Surprisingly much better odds than winning on the lottery!
Source: Everyday risks article
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