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Why The Mathematics Of TOTO Isn’t Financial Sense ?

TOTO HongBao Draw is one of the necessary traditions of Singapore. At Chinese New Year in Singapore, almost everyone will go home visitations, gambling with family and friends, Lou Hei and TOTO HongBao Draw. At 9.30pm on 7th February 2020, the draw will be help with the prize up to $12 million. 

As other countries that have the Chinese New Year, Singaporeans also want a lucky New Year without unlucky things and losing money. Therefore, they abstain from many things to get better in their new year. We will be very happy to buy “hope”. This is the reason. 

Remind The TOTO Lottery Rules. How To play TOTO?

If you are a beginners and don’t know the way to play TOTO lottery, you should read the basic rules of TOTO, as follows: 

1. Selecting at least six numbers from 1 to 49.

2. 1 additional and six winning numbers are drawn in each draw.

3. When your selected numbers are the same with at least 3 of winning numbers, you will win. Your amount will depend on the number of identical numbers between your  winning numbers and selected numbers. 

4. Another important notice is that the prizes will be divided equally for all winners in the group if there is more than one winner in from Groups 1 to group 4. Beside, the winnings of groups 5 to groups 7 are fixed. 

The Winning Odds Of The TOTO Jackpot In Group 1.

We are sure that everyone hopes to get the top winning prize when playing TOTO. However, what will you do with your odds? Let’s see the below example to know more! 

We want to make a list of 49 numbers within having 6 numbers matched. Because of not repeating, the top reward will belong to only 1 combination number. Therefore, 1 in 14 million is the odds of winning. So, C (49,6) =  1/13.983.816.

Thinking about how much your $1 lottery TOTO ticket value is that is the best way to calculate the Net Present Value of it. If you consider that it is a bad odds, you are evaluating it too low.  

One $1 TOTO Ticket’s Net Present Value

The rewards value and betting odds will depend on the sales and it is only calculated when sales are closed. You can receive the big prize because 54% of sales are added in per draw. 

For example, $31,578,947 is the reward which is based on $12 million in 38% of the reward sum. We also consider that we ignore other players and buy only one ticket to play. That means if you are the only player, it is your TOTO ticket value.  

When the sum up the total winnings and the percentage of victory by the reward money are multiplied, you will have the Net Present Value being $76.16. Continuing to subtract $1 that is used to buy a ticket, then, you will get a NPV of $75.16. If all sum of the percentage of winning are added, the winning opportunities in any groups is 1.9%. That’s not bad, right?  

However, you are not one person who is drawn by Singapore Pools. As you look at other players results as well as their playing style which affect your prize money, your NPV will

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Play For Fun But High Responsibility

There is a small note that you need to remember, during this holiday, TOTO lottery is one of the traditional entertainment games which is played with your friend and your family. Therefore, don’t expect too much about being rich when you play TOTO!. Please adjust your psychology and play with the state of comfort. Remember, you should play responsibly with TOTO or any other game as a recreational activity that is not a form of getting rich or investing online. It should not spend too much time and too much money for TOTO. Be a smart and careful player! 

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