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How to Read Lottery Odds

If you have ever bought a Powerball ticket or have scratched a lottery scratcher, you have a chance of winning a monetary prize. Most states have their own lottery and prizes can reach into the millions of dollars. With any sort of gambling, there is always a set of odds which calculates what chance you may have of winning a prize. Reading the odds of a particular lottery may require some division and a bit of deciphering.

Instructions

- 1
  Look at the odds on your lottery ticket. The odds will be indicated with two numbers like this: 1 in 372. The 1 indicates that you have a 1 out of 372 chance of getting the specific prize listed next to it. That means that out of every 372 tickets that are out there, there is one chance to win. Odds and prize money will be different depending on what type of lottery you are playing.
- 2
  Divide the second number by two if you have two tickets for the same prize. So, if you had a 1 in 372 chance of winning the jackpot with one ticket, you will have a 1 out of 186 chance of winning the same prize with two tickets. If you bought three tickets, divide the original number (372) by three, if you have four tickets divide the original number by four and so on.
- 3
  Look at the odds on the scale for the specific lottery you are playing. For example, if you are playing a lottery that asks for you to choose numbers, there will be different odds for the different amount of numbers that you match. You will have a better chance at winning a prize for matching two numbers than if you were to match all five numbers.

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