Question 1173901
The number of combinations of 7 numbers is N = 60*59*58*57*56*55*54/7! = 386206920
P(winning) = 1/N. Hence the probability of NOT winning = (N-1)/N
The prize amount is $5.6M, and the ticket cost is $1.
The expected value is therefore P(winning)*prize - P(losing)*ticket cost =
(1/N)*$5.6M - ((N-1)/N)*$1 = -0.9855 ~-98.6. 
So you will lose almost 99 cents for every dollar bet.
For a fair game, i.e. break even, P/N = (1 - 1/N) -> P = N - 1 = 386206919 = $386.2M