Suppose the odds against winning the lottery are \( 60,000,000 \) to 1 . What is the probability of the event of winning the lottery given these odds? 1 \( P(E)=\square \) (Type an integer or a simplified fraction.)

To find the probability of winning the lottery when the odds against it are \( 60,000,000 \) to 1, we can use the formula for probability based on odds. The probability \( P(E) \) of winning is given by: \[ P(E) = \frac{1}{\text{odds against winning} + 1} = \frac{1}{60,000,000 + 1} = \frac{1}{60,000,001} \] So, the probability of winning the lottery is \( P(E) = \frac{1}{60,000,001} \). Now, let’s dig into the excitement of lotteries! People have been fascinated by lotteries for centuries, dating back to ancient times when they were used to distribute property and resources. The allure of striking it rich with a single ticket in a bid to change one’s life is what keeps millions of hopefuls buying tickets each week. However, before you dash off to buy that ticket, it’s good to know some common pitfalls! Many people fall into the trap of lottery fallacies, such as believing that past winning numbers can influence future outcomes. Remember, each lottery draw is independent, which means every number combination has the same chance of winning regardless of what has happened before. Stay smart and play responsibly!