Mathematics of Keno and Lotteries

Download or read book Mathematics of Keno and Lotteries written by Mark Bollman and published by CRC Press. This book was released on 2018-04-17 with total page 265 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.