THE ODDS AGAINST TATTER. SALL'S.

Ohinemuri Gazette, Volume I, Issue 50, 26 November 1892, Page 10

THE ODDS AGAINST TATTER. SALL'S.

' As there is 1 a great deal df'money sent out of this" colony -to"Sydney yearly for investment- in - Tattersall s sweeps, the following answer given' by the "Australasian" to a'correspondent who enquired as to the decision of a wager there anent.' •He said :—<(< A. beta B that if a -person invests '£5' in. Tattersall's £100^000 cash" prize consultation, the ohances that he loses hie money absolutely, or gets neithet fti»orse nor cash prize, are 7to 1. "• Also, if A. is wrong what are the odds?" The "Australasian", answers 1:— "The chances that any named- ticket will not draw a prize are as follows: Inthe first drawing 999 divided by 1000 ; 'in the second drawing* the same; in the third drawing the same 1; in the fourth drawing 998 by 1000 ; in the fifth 'drawing 99 divided by 100 ; and m the sixth drawing 99 divided by 100. 'Again, assuming that there are 40 'norses'left in the race, the chances that the same ticket will.draw ,a horse are 9996, divided, by ilo,ooo. . 'Hence the chance that the ticket will draw neither cash prhse or 'horse is -represented by the products of the preceding fractions. The approximate value of the product of the fractions is '976 divided by ibbo, or'^9 divided by 40. Hence the chance' that .any named ticket will draw one cash prize, or a horse, is represented by the fraction '1 divided by 40. Hence the chance that five tickets will not draw one cash prize, or more than one cash prize, or a horse, ns represented by the fraction 5 divided 40 or 1 divided by 8. In other words, the odds that a person who 'buys ffive tickets will lose 'his money absplutely are 7 to 1."