The odds of winning Lotto 6/49, which involves selecting 6 different numbers from a set of 49, can be calculated using the combination formula 49C6. This formula is derived from the total permutations divided by the factorial of the number of selections, expressed as 49!/(6!*43!). The correct probability of winning is approximately 1 in 14,000,000, reflecting the actual odds reported in the news. The initial multiplication approach of 49*48*47...*44 does not yield the correct odds because it considers the order of selection, rather than the combination. Understanding this distinction is crucial for accurate probability calculations in lottery games.