fbaezer wrote:It's just like rolling dice.
At any shot you have exactly 1/6th of a chance of getting a 5.
Now... if the dice are not tainted, over a large number of throws, each number will fall near the mean average (at 1,000 throws, it is improbable that you'll get more than 200 of any number). As the number of throws is increased, the chance of getting one of the numbers that come out less often increases, but only marginally, as a result of "The Law of Large Numbers" (Sorry I can't abound, I'm not an actuary).
Eventually, after a close to infinite number of throws, all numbers will fall exactly at random: .16666666
In order to do that for a lottery, you have to play a lot (and lose a lot). My own take is that if you didn't play, it doesn't count. But I guess I'm a romantic.
More interesting mathematical developments have been used in Europe, for massive sports betting, specially in soccer, where the odds of most matches are not even. "Sistemistica", they call it in Italy. They say it works, but with high risk and high investment.
fbaezer,
Sorry, but if I understand what you are saying correctly, it is mathematically incorrect.
In mathematics we talk about events being "independent". And a random event such as rolling a die is certainly independednt. This means that one roll does not affect another in any way.
If you roll a die there is exactly 1/6 of getting a 5 for any roll.
It is possible for you to roll '5' 29 times in a row. This is very unlikely (The odds are approximately 1 to 1.86X10^20 aginst this) but it is possible.
Each roll is "independent". What happens in the past does not affect the future.
In the very unlikely event that you roll 29 '5's --
the chance that you will roll another '5' is exactly 1/6. Not the slightest bit more, not the slightest bit less
That past rolls of the dice affect the future is a very common misconception in statistics. It is also one of the reasons people make mistakes when they gamble. A large amount of money has changed hands in poker because of this...