Pia Hontiveros of the cable program “Strictly Politics” on ABS-CBN News Channel (ANC) last night interviewed Pulse Asia's Ana Tabunda. The latter was requested to compute the number of possible combinations for the Grand Lotto 6/55.
Based on her computation, a bettor must place his bet on more than twenty eight million number combinations (28,989,675 to be exact) to possibly win.
Correct me if I am wrong (I like Math but Math doesn't like me), to arrive with a 6 number combis for a ₱20 bet, you'll have to divide 28,989,675 by 6. And so:
28,989,675 ÷ 6 x ₱20 = ₱96,632,250
You will need the amount of ₱96,632,250 to possibly win the Grand Lotto.
It's actually a win-win situation if you gamble. The jackpot may reach as much as ₱500,000,000 (₱500 Million) tonight. So:
₱500,000,000 - ₱96,632,250 = ₱403,367,750 (take home)
Update 11/22/10: So the great mistake I committed was to divide the total number of possible combinations by 6, when the formula should have been 28,989,675 x ₱20 only. I stand corrected. Thanks for the comments guys. Keep 'em coming.