Mathematics of Keno and Lotteries

Nonfiction, Science & Nature, Mathematics, Probability, Recreations & Games
Cover of the book Mathematics of Keno and Lotteries by Mark Bollman, CRC Press
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Author: Mark Bollman ISBN: 9781351756297
Publisher: CRC Press Publication: April 17, 2018
Imprint: Chapman and Hall/CRC Language: English
Author: Mark Bollman
ISBN: 9781351756297
Publisher: CRC Press
Publication: April 17, 2018
Imprint: Chapman and Hall/CRC
Language: English

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.

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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.

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