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November 21st, 2017, 04:57 AM   #1
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single probability vs multiple

Hi

If i wanted to play a game that had a 3.4% change of winning for a £5 ticket
v's
another game with the same 3.4% chance of winning but only cost £1 for a ticket

is the better game to play the 2nd choice with 5 single tickets?
and if so how would i calculate the probability if i bought 5 tickets.



thanks
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November 21st, 2017, 12:03 PM   #2
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Math Focus: tetration
The chance stays the same.
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November 21st, 2017, 01:28 PM   #3
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The multiple ticket game has 6 possible outcomes i.e. winning 0,1,2,3,4,5 each of which has a different payoff. The average payoff for either game will be the same.
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