Lottery Expected Value Calculator Guide
The Lottery Expected Value Calculator computes per-ticket expected value (EV) and ROI from just three inputs: ticket price, prize amount, and win odds (1 in N). Compare lotteries, scratch-offs, and giveaway drawings on a single statistical scale to make better-informed purchase decisions.
The formula is straightforward: EV = prize × win probability. For example, a $2 Powerball ticket with a $100M prize and 1-in-292,201,338 odds has an EV of about $0.34 — meaning every ticket carries an average $1.66 loss. The tool also reports ROI and the prize amount needed to break even.
Most lotteries are designed so EV stays below ticket price, making them long-term statistical losses. That said, lotteries deliver entertainment and anticipation value not captured by EV — treat these numbers as one input among many.
Frequently Asked Questions
Prize amount × win probability. It is the average return per ticket over infinitely many purchases.
Statistically yes — long-run ROI is negative. But lotteries also offer entertainment value.
Enter 8000000 in the odds field (1-in-N format).