A Simple one for you.

[GoingRover]

I need to understand how odds change, if indeed they change at all, when the calculated event occurs. Example: I play one ticket in the lottery, which sells two million tickets so my odds are two million to one. I believe this to be correct. If my ticket wins how does that effect the odds? Do the odds drop to 1:1, or something else, or does it stay the same but there's another expression to describe the "win"? I'm very confused about this. Thank you!

 

[The Highlander]

I need to understand how odds change, if indeed they change at all, when the calculated event occurs. Example: I play one ticket in the lottery, which sells two million tickets so my odds are two million to one. I believe this to be correct. If my ticket wins how does that effect the odds? Do the odds drop to 1:1, or something else, or does it stay the same but there's another expression to describe the "win"? I'm very confused about this. Thank you!

If you are referring to a (national) lottery like the UK's Lotto or Euromillions then the chances of wining are not affected by any prior events, ie: the odds against your numbers coming up are the same at every draw. So if you win one week then the odds of you winning are exactly the same the next week (whether you play the same numbers or not).

In lotteries like that your odds of winning are in no way determined by the number of tickets bought! It seems you may be talking about what I would call a raffle. In that kind of event your odds are related to the number of tickets you buy and the total number sold but once a winning ticket is drawn the odds of winning again are zero! (Because the event is over).