In the Texas Pick 3 Lottery, you can bet $\$ 1$ by selecting the exact order of three digits between 0 and 9 inclusive, so the probability of winning is $1 / 1000$. If the same three numbers are draw in the same order, you collect $\$ 500$, so your net profit is $\$ 499$. Find the actual odds against winning and the payoff odds. The website indicates that the odds are $1 : 1000$ for this bet. Is this an accurate description?

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The Answer of In the Texas Pick 3 Lottery, you can bet $\$ 1$ by selecting the exact order of three digits between 0 and 9 inclusive, so the probability of winning is $1 / 1000$. If the same three numbers are draw in the same order, you collect $\$ 500$, so your net profit is $\$ 499$. Find the actual odds against winning and the payoff odds. The website indicates that the odds are $1 : 1000$ for this bet. Is this an accurate description?

In the Texas Pick 3 Lottery, You Can Bet $1\$ 1$1

In the Texas Pick 3 Lottery, You Can Bet $\$ 1$