Welcome Guest
Log In | Register )
The time is now 4:46 pm
You last visited April 18, 2014, 4:43 pm
All times shown are
Eastern Time (GMT-5:00)

The new South Carolina January Scratch-Offs are terrible.

Topic closed. 6 replies. Last post 5 years ago by TotallyDavis.

Page 1 of 1
PrintE-mailLink
TotallyDavis's avatar - Lottery-061.jpg
New Member
North Charleston, SC
United States
Member #69214
January 6, 2009
45 Posts
Offline
Posted: January 6, 2009, 5:03 pm - IP Logged

Cool 7's Money Roll Lucky Cash Price Is Right

 

These are the new SC Instant Games for January.  They look gorgeous and snazzy, right?  Sure they do, but they carry some of the worst return rates in recent history for scratch off tickets in SC.  I was looking forward to these, so I am a little upset by this.

(Return Rate: The percentage of each dollar you will get back in the long term from a certain game.  100% means that if you played a certain game long enough,  you would end up with exactly as much money as you started with.  All lottery games are less than 100% because the difference is what the lottery keeps.  For example, a Pick 3 game that has a top prize of $500 has a 50% return rate)

- Cool 7's Return Rate: 58.93% (For comparison, the best one dollar ticket in SC is Jr. Jumbo Bucks with a 62.67% return rate)

- Money Roll's Return Rate: 64.85% (For comparison, the best two dollar ticket in SC is Jumbo Bucks with a 67.44% return rate)

- Lucky Cash's Return Rate: 64.72% (Worse than Money Roll even)

- The Price Is Right's Return Rate: 70.75% (The best five dollar ticket in SC is Carolina Riches 6th Anniversary with a 73.08% return rate)

 

I'm a fan of scratch-off games so I keep track of which tickets return the most so I lose the least over the long term.  I know a few percentage points might sound like I'm being picky, but over the course of a year of gambling, that can add up to a lot of cash.  Also, if you look at a line up of all scratch tickets these are near the bottom for each of their price classes. 

It's a shame they keep releasing flashier and flashier tickets with lower and lower odds.  Just last month they released Cool Cash Tripler, which is a very eye-grabbing $10 ticket:

Cool Cash Tripler

 

but that carries one of the lowest odds for $10 tickets in the state at 76.92% (terrible for such a large bet).  The best $10 ticket in the state is Money Maker 2 with a juicy 80% return. 

I would just like to get excited about a new ticket and find out that it's a good value compared to it's peers, and not just a new coat of paint on even worse odds than before.  Stop treating me like an idiot South Carolina.  I don't mind you slowly taking my money on negative lottery odds as long as I'm having a good time, but I do mind you eroding those odds more and more each month.

(P.S. I originally included links to all the scratch-off data pages in this post, which caused the site to become angry at me since I am a new user.  I agree that new users shouldn't be able to post links, but it kind of hurt that my entire post was erased as well....ouch)

-TotallyDavis

    Todd's avatar - Cylon 2.gif
    Chief Bottle Washer
    New Jersey
    United States
    Member #1
    May 31, 2000
    21225 Posts
    Offline
    Posted: January 7, 2009, 2:21 pm - IP Logged

    <Moved to Instant ("Scratch-Off") Games forum>

    Please post in the appropriate forum ... thank you.

      lottolaughs's avatar - avatar 3824.gif
      California
      United States
      Member #40295
      May 31, 2006
      5485 Posts
      Offline
      Posted: January 7, 2009, 2:49 pm - IP Logged

      Not only are South Carolina's scratchoff's "terrible", ALL scratchoffs are terrible in my opinion. A big waste of money. Since there is no system you can use, it really is the "luck of the draw" and in most cases a cash prize is awarded every 6 to 10 tickets so right off the bat you have to purchase that many to even be in the ball park to perhaps win your money back or my least favorite, "a free ticket." 

      You are better off playing Pick 3. Please check the predictors here at Lottery Post or one of the zillions of systems available on the Lottery Systems board. In my opinion, since all lottery games are games of chance why not let yourself have a weensy bit more control and decide what numbers YOU'D like to play instead of just having someone hand you over a dud ticket. I used to like scratchers too because they are "fun" but it ceases being fun when you start adding up the money you've been losing. 

        Avatar
        New Member
        sc
        United States
        Member #69230
        January 6, 2009
        7 Posts
        Offline
        Posted: January 7, 2009, 4:19 pm - IP Logged

        i saw that money roll yesterday and wanted to play it but didn't and got 2 cool cash tripler and one on 1 card. cool cash tripler i must say in my experience so far has been good for me and moneymaker2 first time i played not good but 2nd time was pretty decent.

          TotallyDavis's avatar - Lottery-061.jpg
          New Member
          North Charleston, SC
          United States
          Member #69214
          January 6, 2009
          45 Posts
          Offline
          Posted: January 7, 2009, 8:41 pm - IP Logged

          Actually, most Pick 3 games return $500 for a top win, which at 1:1000 odds comes out to a 50% return.

          Pick 3 is actually one of the WORST games you can ever play because the odds start terrible and never get any better (unlike Powerball, which at least can get better with a large jackpot).

          Even the lowest and worst scratch ticket, at 58% return is better than Pick 3.

          Do you really think you improving your odds that much because you are picking the numbers?  Picking your own numbers only improves your chances better than 'random' chances if you can use information to make statistically informed choices that are then correct.  It's tough to say if predictions can help, because they are impossible to conclusively verify if they are any closer than blind chance.

          Scratch-offs are no more a waste of money than any other lottery product, or gambling in general.

            lottolaughs's avatar - avatar 3824.gif
            California
            United States
            Member #40295
            May 31, 2006
            5485 Posts
            Offline
            Posted: January 7, 2009, 9:49 pm - IP Logged

             

            Just taking a look here at the Cool 7's odds, I don't understand how you can say your odds are so much better at scratchoffs than Pick 3.

            Odds for winning $500 straight Pick 3 ---1 in 1,000

            Odds for winning $17 ----1 in 1,200

            How is that better? Can someone explain this?

              TotallyDavis's avatar - Lottery-061.jpg
              New Member
              North Charleston, SC
              United States
              Member #69214
              January 6, 2009
              45 Posts
              Offline
              Posted: January 8, 2009, 12:20 pm - IP Logged

              Ummm.... it's actually pretty simple.  When you bet a dollar on a straight Pick 3, you can only win the top prize, $500.  When you bet a dollar on the Cool 7's game you can win any of those prizes, so any return has to figure your chances for every prize into it.

              Return rate is the average return on your dollar.

              One easy way to understand it is to imagine if you cover ALL of your bases.  Let's say you buy all 1,000 possible numbers for the evening Pick 3 drawing.  Well, you'll win.

              But you'll only win $500, when it cost you $1,000 to play all those numbers.  So your return is 50%, or 50 cents on every dollar you spent.

              Look up at that odds slip.  Pretend that you bought EVERY Cool 7's ticket in South Carolina.  That would cost you $2,400,000 because that's how many one dollar tickets there are.  You would win many times and end up with $1,414,285 in prize money.  That would be 58.93% of what you had spent though.  So, your return on each dollar would be an average of 58.93%

              Return rate is the most honest estimation of how good a game is.  Odds don't matter; they only affect the standard deviation (a fancy way of saying how often you'll be up and down).

              Imagine two games.  In one game, we flip a coin and every time it lands on heads you win a dollar from me, and when it lands on tails, you pay me a dollar.  Well, assuming there is an equal chance of either side landing then the return rate for that game (for either of us) would be 100%.  What that means is that if we played long enough we would expect to neither make any money.  After a billion coin tosses, one of us might have a little more than the other, but if there truly was an even chance of both sides of the coin landing, we would both have about as much money as we started with.

              Now imagine the second game, one in which I write down a random number from one to million on a piece of paper.  You pay me a dollar to guess the number, and if you get it wrong, I keep the dollar.  But if you get it right, I give you a million dollars.  If you want to play again, I write down a new number.

              Well, the return rate on that game is 100% percent too.  You might go a long time without correctly guessing the number, but if you played long enough you eventually would guess it and you'd win a million dollars.  After a long enough time playing, we'd both have about the same amount of money as when we started.

               

              The lottery doesn't sell games that have a 100% return rate because then they wouldn't make any money.  But some games are better than others.  Single deck blackjack, in a fair casino, played properly can have a return of OVER 99%.  Hell, even Powerball with a massive enough jackpot (and assuming you won't have to share the jackpot if you win it) can have a positive rate of return.

              But Pick 3 will forever be a 50% return unless they increase the prize money from $500.  If they increased it to $1000, then the rate of return would be 100% but they will never do that.  If you gamble and play nothing but Pick 3 all your life, and over the course of your life you spend a million dollars on Pick 3, you will have won about $500,000.  (Whether you reinvested this back into Pick 3 tickets for the same terrible odds is your business).

              Most scratch off tickets aren't much better, but they are better than 50%. 

              If you gamble long enough, you will eventually lose.  But how much you lose is determined by the games you play.