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Application of Stochastic Process to Lottery in Nigeria

Author

Listed:
  • Odukoya Elijah Ayooluwa

    (Department of Statistics, Faculty of Science, Ekiti State University, Ado-Ekiti, Ekiti State, Nigeria)

  • Olayinka Korede. Peter

    (Department of Statistics, Federal Polytechnic Ado-Ekiti, Ekiti State, Nigeria)

  • Ajewole Kehinde Peter

    (Department of Physical Sciences, Mathematics Programme, Landmark University, Omu-Aran, Nigeria)

  • Akinyele Thomas Wale

    (Department of Statistics, Faculty of Science, Ekiti State University, Ado-Ekiti, Ekiti State, Nigeria)

Abstract

Lottery is one of the most popular forms of gambling which offers gamblers opportunity to win large cash prize for a relatively low cost. Research on lottery gambling could examine the effect of mediators in the relationships between independent variables and gambling behaviour. We consider the case of premier lotto and selected six (6) different players at random over a number of years. The methods used in these researches are Markov Chain and Stationarity of the state process. For every player in the system, we obtain the long run probability or likelihood of winning if every player continues playing indefinitely. We obtain the inter state transition probabilities indicating the transition of each player from one year to other.

Suggested Citation

  • Odukoya Elijah Ayooluwa & Olayinka Korede. Peter & Ajewole Kehinde Peter & Akinyele Thomas Wale, 2025. "Application of Stochastic Process to Lottery in Nigeria," International Journal of Latest Technology in Engineering, Management & Applied Science, International Journal of Latest Technology in Engineering, Management & Applied Science (IJLTEMAS), vol. 14(5), pages 829-837, May.
    • Handle: RePEc:bjb:journl:v:14:y:2025:i:5:p:829-837
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