SPECIAL LOTTERY DRAWINGS - ANALYSIS OF AN UNCONVENTIONAL INVESTMENT OPPORTUNITY

Detalhes bibliográficos
Autor(a) principal: Castello,Jaques Deivinson da Silva
Data de Publicação: 2015
Outros Autores: Milioni,Armando Zeferino
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Pesquisa operacional (Online)
Texto Completo: http://old.scielo.br/scielo.php?script=sci_arttext&pid=S0101-74382015000100091
Resumo: Quina Loto is one of the most popular lottery games in Brazil. Prizes are paid as a percentage of each drawing's revenues. After deductions and taxes, 34% of the revenues are destined for the payments of prizes on each drawing, 29% divided among winners and 5% saved in order to contribute for the major prize of the special drawing held annually, in June 24th. Due to the low expected return on investment, lotteries are widely regarded as a bad investment decision. Experience, however, shows that the special drawing might be an exception. In this paper we provide a thorough analysis of a theoretical investment in the special drawing of 2013, considering players' behavior, lesser prizes earnings, effects of the own investment in the jackpot, probabilities of sharing the prizes and outcomes covering methods. Finally, we compare our conclusions against the result of the lottery on June 24th, 2013.
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spelling SPECIAL LOTTERY DRAWINGS - ANALYSIS OF AN UNCONVENTIONAL INVESTMENT OPPORTUNITYLottoWallenius random variableinvestment decisionapplied probabilityapplied statisticsQuina Loto is one of the most popular lottery games in Brazil. Prizes are paid as a percentage of each drawing's revenues. After deductions and taxes, 34% of the revenues are destined for the payments of prizes on each drawing, 29% divided among winners and 5% saved in order to contribute for the major prize of the special drawing held annually, in June 24th. Due to the low expected return on investment, lotteries are widely regarded as a bad investment decision. Experience, however, shows that the special drawing might be an exception. In this paper we provide a thorough analysis of a theoretical investment in the special drawing of 2013, considering players' behavior, lesser prizes earnings, effects of the own investment in the jackpot, probabilities of sharing the prizes and outcomes covering methods. Finally, we compare our conclusions against the result of the lottery on June 24th, 2013.Sociedade Brasileira de Pesquisa Operacional2015-04-01info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersiontext/htmlhttp://old.scielo.br/scielo.php?script=sci_arttext&pid=S0101-74382015000100091Pesquisa Operacional v.35 n.1 2015reponame:Pesquisa operacional (Online)instname:Sociedade Brasileira de Pesquisa Operacional (SOBRAPO)instacron:SOBRAPO10.1590/0101-7438.2015.035.01.0091info:eu-repo/semantics/openAccessCastello,Jaques Deivinson da SilvaMilioni,Armando Zeferinoeng2015-05-19T00:00:00Zoai:scielo:S0101-74382015000100091Revistahttp://www.scielo.br/popehttps://old.scielo.br/oai/scielo-oai.php||sobrapo@sobrapo.org.br1678-51420101-7438opendoar:2015-05-19T00:00Pesquisa operacional (Online) - Sociedade Brasileira de Pesquisa Operacional (SOBRAPO)false
dc.title.none.fl_str_mv SPECIAL LOTTERY DRAWINGS - ANALYSIS OF AN UNCONVENTIONAL INVESTMENT OPPORTUNITY
title SPECIAL LOTTERY DRAWINGS - ANALYSIS OF AN UNCONVENTIONAL INVESTMENT OPPORTUNITY
spellingShingle SPECIAL LOTTERY DRAWINGS - ANALYSIS OF AN UNCONVENTIONAL INVESTMENT OPPORTUNITY
Castello,Jaques Deivinson da Silva
Lotto
Wallenius random variable
investment decision
applied probability
applied statistics
title_short SPECIAL LOTTERY DRAWINGS - ANALYSIS OF AN UNCONVENTIONAL INVESTMENT OPPORTUNITY
title_full SPECIAL LOTTERY DRAWINGS - ANALYSIS OF AN UNCONVENTIONAL INVESTMENT OPPORTUNITY
title_fullStr SPECIAL LOTTERY DRAWINGS - ANALYSIS OF AN UNCONVENTIONAL INVESTMENT OPPORTUNITY
title_full_unstemmed SPECIAL LOTTERY DRAWINGS - ANALYSIS OF AN UNCONVENTIONAL INVESTMENT OPPORTUNITY
title_sort SPECIAL LOTTERY DRAWINGS - ANALYSIS OF AN UNCONVENTIONAL INVESTMENT OPPORTUNITY
author Castello,Jaques Deivinson da Silva
author_facet Castello,Jaques Deivinson da Silva
Milioni,Armando Zeferino
author_role author
author2 Milioni,Armando Zeferino
author2_role author
dc.contributor.author.fl_str_mv Castello,Jaques Deivinson da Silva
Milioni,Armando Zeferino
dc.subject.por.fl_str_mv Lotto
Wallenius random variable
investment decision
applied probability
applied statistics
topic Lotto
Wallenius random variable
investment decision
applied probability
applied statistics
description Quina Loto is one of the most popular lottery games in Brazil. Prizes are paid as a percentage of each drawing's revenues. After deductions and taxes, 34% of the revenues are destined for the payments of prizes on each drawing, 29% divided among winners and 5% saved in order to contribute for the major prize of the special drawing held annually, in June 24th. Due to the low expected return on investment, lotteries are widely regarded as a bad investment decision. Experience, however, shows that the special drawing might be an exception. In this paper we provide a thorough analysis of a theoretical investment in the special drawing of 2013, considering players' behavior, lesser prizes earnings, effects of the own investment in the jackpot, probabilities of sharing the prizes and outcomes covering methods. Finally, we compare our conclusions against the result of the lottery on June 24th, 2013.
publishDate 2015
dc.date.none.fl_str_mv 2015-04-01
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://old.scielo.br/scielo.php?script=sci_arttext&pid=S0101-74382015000100091
url http://old.scielo.br/scielo.php?script=sci_arttext&pid=S0101-74382015000100091
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv 10.1590/0101-7438.2015.035.01.0091
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv text/html
dc.publisher.none.fl_str_mv Sociedade Brasileira de Pesquisa Operacional
publisher.none.fl_str_mv Sociedade Brasileira de Pesquisa Operacional
dc.source.none.fl_str_mv Pesquisa Operacional v.35 n.1 2015
reponame:Pesquisa operacional (Online)
instname:Sociedade Brasileira de Pesquisa Operacional (SOBRAPO)
instacron:SOBRAPO
instname_str Sociedade Brasileira de Pesquisa Operacional (SOBRAPO)
instacron_str SOBRAPO
institution SOBRAPO
reponame_str Pesquisa operacional (Online)
collection Pesquisa operacional (Online)
repository.name.fl_str_mv Pesquisa operacional (Online) - Sociedade Brasileira de Pesquisa Operacional (SOBRAPO)
repository.mail.fl_str_mv ||sobrapo@sobrapo.org.br
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