Lottery Expected Value
Estimate the average gain or loss from buying a lottery ticket based on prize amount, odds, and ticket cost.
Educational purposes only. Not professional advice.
Examples
- Prize 1000, prob 0.001, cost 2 ⇒ -1
- Prize 5000, prob 0.0005, cost 5 ⇒ -2.5
- Prize 100, prob 0.02, cost 1 ⇒ 1
FAQ
What is expected value?
It's the average outcome if the lottery could be played many times.
Should probability be a decimal?
Yes, enter odds as a decimal between 0 and 1.
Can expected value be negative?
Yes, most lotteries have negative expected value.
Additional Information
- Result unit: same as prize