Canada Lottery Revenue $100 billion: 37.5% or 3/8 Canadians play lottery
Canada Lottery revenue of $100 billion a year
can provide $28,000/yr to each Canadian
living in poverty and those under poverty line.
Canadians who play lottery ranges from 25% to 50% of the entire population of 36 million (2016).
If we take the average of 1/4 and 1/2, this will result in 3/8 (0.375).
If we multiply 36 million by 0.375 (37.5%), this is be 13.5 million estimated lottery participation rate in Canada.
Odds of winning Lotto 6/49 Calculation by probability:
Formula: n!/[k!*(n-k)!]
where:
n is the number of alternatives
k is the number of choices.
49!/[6!*(49-6)!]
49!/[6!*43!]
6.08e+62/(720*6.04e+52)
6.08e+62/4.35e+55
13,983,816
Alternative caculation method:
49 × 48 × 47 × 46 × 45 × 44
----------------------------------
6 × 5 × 4 × 3 × 2 × 1
10,068,347,520 divided by 720
13,983,816
Therefore the Odds of winning is 1 in 13,983,816.
This is 7.15e-8
or 0.000007%
or 7% divided by 1 million
Comparing the number of Canadian lottery players of 13.5 million to the odds of winning of 1 in 13,983,816 for Lotto 6/49, and if each player just buys one ticket, AND given the assumption that each ticket is unique, then it is possible that one ticket will win in every draw.
CANADA Lottery Estimated Revenue
if the 13.5 million lotto players buy just one ticket and a ticket costs $3
Revenue = 13.5 million x $3
Revenue = $40.5 million
Starting jackpot price of Lotto 6/49 is $5 million
Revenue minus jackpot price = 40.5 million - 5 million
Revenue after jackpot price = 35.5 million ------ MINIMUM
in reality, lotto players actually buy more than one ticket,
so $35 million revenue is just a minimum
if on average lotto players buy 2 tickets, then
Revenue = 13.5 million x $3 x 2
Revenue = $81 million
Revenue after jackpot price = $81 million - $5 million
Revenue after jackpot price = $76 million ---- this is just for Lotto 6/49
Lotto 6/49 is drawn twice a week, so there are 104 total draws in a year.
Yearly Revenue = $76 million x 104
Yearly Revenue = $8 billion
However, Canada lottery has many other forms of lottery games such as Lotto Max, $1000 a week for life and many others............so the revenue is close to maybe $100 billion a year.
DISTRIBUTION OF WEALTH:
The population of Canada under the poverty line is 10% or 3.6 million.
$100 billion/3.6 million
$28,000
If this $100 billion is equally distributed to Canadians living in poverty, then each will receive $28,000 a year.