How to win the 6/55 Grand Lotto?

Excited for the Grand Lotto draw tonight? This post may excite you further but first, we would like to point out that we are not promoting the Grand Lotto here. And the best possible way to win it as mentioned in this post may not be possible at all, unless you are Manny Pacquiao. Why? Read on.

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.

How to win Grand Lotto
Photo credit: ANC via Twitpic

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)

Not bad.

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.