Statements on the statistical probabilities of winning new or existing lottery products need to be 100 per cent correct. Sometimes they can be pretty difficult to determine. Not everyone enjoys compiling these kinds of mathematical reports – but we do.
Statements on statistical winning probabilities of new or existing lottery products must be 100% correct, because lotteries live from their respectability. Winning promises that you make to your customers must be kept. On the other hand, in marketing you may only make statements that stand up to solid mathematical verification. But that is not so easy. In addition to sound statistics, a lot of technical understanding and precise knowledge of the products is required. All this can be found at lottery companies in the gaming operations departments. But as is the case with complex, security-relevant topics: external assurance by a second clever head eliminates sources of error in the best possible way.
However, it is not only about detecting errors in the applied mathematics. It is about the question of which statements in marketing are permissible and covered by actual probabilities of profit. A very practical benefit, then. For this purpose, we first map the concepts from the lottery to mathematics together with you. On this basis, we create the basic framework for all calculations: the prize schedule. In this way, we are able to determine, for example, the winning probabilities of partial and full systems, theoretical winning odds or the effects of product changes.
The more specialised the lottery, the more complex the statistical tools. For example, in the case of geolotteries, the population density in micro-regions influences all further calculations. In combination with the forecast of actual expected gaming orders in a region, the mathematics here quickly becomes very complex. But it is also dynamic, because demographic data is constantly changing.
All in all, a challenging topic. A topic in which many state lottery companies trust our mathematics experts. And so you can play it safe, too.