With the jackpot for this Friday's TOTO Hong Bao draw at $13.9 million, even those who typically never gamble at the Singapore Pools have now lined up in queues just to try their luck.
Including yours truly (haha!). While I did it purely for fun, this prompted me to look into the statistical odds of winning the TOTO.
Disclaimer: Before you jump to buy a TOTO ticket for the Hong Bao draw, take note that more people buying also means you'll be splitting the prize pot with more people for the same number, given the same probability. In other words, lesser winnings for each person.
Drawn by newspaper headlines of last Thursday's draw - which saw one person walking away with $9.5 million in winnings - many have headed forth to place their bets for this Friday's special Hong Bao draw. But are their hopes misplaced?
I ......