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How much does a 100 Million dollars Jackpot Scratchoff will cost..

Topic closed. 4 replies. Last post 6 years ago by DoctorEw220.

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Honduras
Member #20982
August 29, 2005
4715 Posts
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Posted: January 19, 2009, 3:53 pm - IP Logged

I've been curious about this...1 time in georgia i remember they say that a 100 million dollar Scratchoff was coming and i was excited later to learn that it was 100 million dollars in prizes...

I've been wanting to know how much does a scratchoff that will pay as a jackpot 100 milion dollars how much will it cost and will they have to do it across states...

again i am talking about a Scratchoff where an Actually person will win 100 million dollars...How much will that person have to pay for the scratchoff...And is it possible...This is what they should be doing...

will like to add that winning 100 million dollars on a scratchoff is not the same thing as winning 100 million dollars in the lottery with the bouncing balls...

I dream of those days when there will be several 100 million dollars scratchoffs...

for it to work they will have to do 1 ticket with the 100 million dollars and several tickets with 1 million dollars to keep players going after the 100 million dollars is won....This can actually work but they will have to do it across states, kind of like Megamillions...

it will have to be 120 million dollars, 1 ticket with the 100 million dollars and 20 tickets with 1 million dollars...

again my question is: IS IT POSSIBLE...

The Forex trades: 1.6 Trillion dollars EVERY day, that´s more than the GDP of the Carribbean Central America, COMBINED. Enough to feed every crook out there for centuries...To all Geniuses & Powers Countries of the World the Planet needs breakthroughs in all Medicine, Veterinary, Biology related fields, Psychology, Population Psychology/Sociology..They need to genetically ingeneer new plants species/types to give more variety of plants and thus have more resources for combating diseases¨


 


 


 

 


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    Honduras
    Member #20982
    August 29, 2005
    4715 Posts
    Offline
    Posted: January 19, 2009, 4:08 pm - IP Logged

    I've been curious about this...1 time in georgia i remember they say that a 100 million dollar Scratchoff was coming and i was excited later to learn that it was 100 million dollars in prizes...

    I've been wanting to know how much does a scratchoff that will pay as a jackpot 100 milion dollars how much will it cost and will they have to do it across states...

    again i am talking about a Scratchoff where an Actually person will win 100 million dollars...How much will that person have to pay for the scratchoff...And is it possible...This is what they should be doing...

    will like to add that winning 100 million dollars on a scratchoff is not the same thing as winning 100 million dollars in the lottery with the bouncing balls...

    I dream of those days when there will be several 100 million dollars scratchoffs...

    for it to work they will have to do 1 ticket with the 100 million dollars and several tickets with 1 million dollars to keep players going after the 100 million dollars is won....This can actually work but they will have to do it across states, kind of like Megamillions...

    it will have to be 120 million dollars, 1 ticket with the 100 million dollars and 20 tickets with 1 million dollars...

    again my question is: IS IT POSSIBLE...

    But believe it or not, more important than that is that they create hundreds and hundreds of free schools that teach mathematics to kids and people you know as a hobby and that they have stuff to promote mathematics learning....

    what's the point of having 100 million dollars and you don't know mathematics...

    and promoting the practice of planting trees, so much trees so that there is regions full of trees, half of continent full of trees...like using money and leting the interest pay people to plant and water trees...to the point that all of Canada and the U.S is a Forest.....those are more important than that 100 million dollar jackpot scratchoff...

    The Forex trades: 1.6 Trillion dollars EVERY day, that´s more than the GDP of the Carribbean Central America, COMBINED. Enough to feed every crook out there for centuries...To all Geniuses & Powers Countries of the World the Planet needs breakthroughs in all Medicine, Veterinary, Biology related fields, Psychology, Population Psychology/Sociology..They need to genetically ingeneer new plants species/types to give more variety of plants and thus have more resources for combating diseases¨


     


     


     

     


      TotallyDavis's avatar - Lottery-061.jpg
      New Member
      North Charleston, SC
      United States
      Member #69214
      January 6, 2009
      45 Posts
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      Posted: January 19, 2009, 5:18 pm - IP Logged

      I don't know why you went all 'Save The Children' in your second post, but I'll answer your first to the best of human knowledge.

      Here are the stats for a SC scratch off that has a top prize of $1,000,000:

      6,000,000 actual tickets.

      They cost $10 apiece.

      SC will make $60,000,000 once all tickets are sold.

      They will pay out $47,400,000 in prizes for all prize levels (2,007,605 prizes ranging from the $10 winners to the handful of $1,000,000 winners)

      They will make $12,600,000 profit and the return rate for the player is a reasonably high 79%.

      ------------------------

      Now, there are two ways of going about modifying this for a jackpot of $100,000,000.  Since that grand prize is a hundred times greater than the example grand prize above (and we will assume all prizes will be a hundred times greater), it's as simple as one of two things: Either we make the tickets a hundred times more expensive, or we make a hundred times more tickets to sell.

      Expensive Tickets:

      NEW!  $1,000 Scratch off tickets!  Yes, the ticket actually costs $1,000!  Would you blow a grand on a single scratch off the size of a magazine page?  What if the grand prize was $100,000,000 and you had about a 1:800:000 shot at it? (Compare the Powerball at $1 with a 1:192,000,000 shot)  Plus there's lots of other great prizes.  You might win one of a HUNDRED million dollar prizes.  Or we've got FIVE HUNDRED $100,000 prizes to give out to runners-up.  Or you might just double your money to $2000 or more!

      This is why it would work: If you could sell 6,000,000 tickets at $1,000 a pop, that would bring in SIX BILLION dollars in revenue, and using the same ratio as the SC example you would have to pay out a little less than FIVE BILLION of it in prizes (including those top $100,000,000 prizes you wanted).  Most of the prize money would go towards paying out lots of smaller prizes, including many people just getting their thousand dollars back.  Hmmm.....would you buy a $1,000 scratch off?

      Lots of Tickets:

      Introducing the first national scratch off!  There's 600 MILLION tickets to sell across the nation with the same 4.7 BILLION dollars in total prizes, including five top prizes of $100,000,000 apiece!

      This works because your chances of winning any prize might go WAY up, but when you do win a prize it will be very significant.

       

      So, we can all dream huh?  The expensive ticket might be exciting to see actually happen, but most people who have gotten wealthy enough to afford $1,000 to blow on a ticket got that way by NOT gambling.  Of course there's always the idiots who spend their families savings hoping to hit it big.  The 'lots of tickets' options would require an unprecedented amount of coorperation between the states, and is also not likely to happen.

      But, it never hurts to have ideas, huh?

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        Honduras
        Member #20982
        August 29, 2005
        4715 Posts
        Offline
        Posted: January 19, 2009, 10:15 pm - IP Logged

        I don't know why you went all 'Save The Children' in your second post, but I'll answer your first to the best of human knowledge.

        Here are the stats for a SC scratch off that has a top prize of $1,000,000:

        6,000,000 actual tickets.

        They cost $10 apiece.

        SC will make $60,000,000 once all tickets are sold.

        They will pay out $47,400,000 in prizes for all prize levels (2,007,605 prizes ranging from the $10 winners to the handful of $1,000,000 winners)

        They will make $12,600,000 profit and the return rate for the player is a reasonably high 79%.

        ------------------------

        Now, there are two ways of going about modifying this for a jackpot of $100,000,000.  Since that grand prize is a hundred times greater than the example grand prize above (and we will assume all prizes will be a hundred times greater), it's as simple as one of two things: Either we make the tickets a hundred times more expensive, or we make a hundred times more tickets to sell.

        Expensive Tickets:

        NEW!  $1,000 Scratch off tickets!  Yes, the ticket actually costs $1,000!  Would you blow a grand on a single scratch off the size of a magazine page?  What if the grand prize was $100,000,000 and you had about a 1:800:000 shot at it? (Compare the Powerball at $1 with a 1:192,000,000 shot)  Plus there's lots of other great prizes.  You might win one of a HUNDRED million dollar prizes.  Or we've got FIVE HUNDRED $100,000 prizes to give out to runners-up.  Or you might just double your money to $2000 or more!

        This is why it would work: If you could sell 6,000,000 tickets at $1,000 a pop, that would bring in SIX BILLION dollars in revenue, and using the same ratio as the SC example you would have to pay out a little less than FIVE BILLION of it in prizes (including those top $100,000,000 prizes you wanted).  Most of the prize money would go towards paying out lots of smaller prizes, including many people just getting their thousand dollars back.  Hmmm.....would you buy a $1,000 scratch off?

        Lots of Tickets:

        Introducing the first national scratch off!  There's 600 MILLION tickets to sell across the nation with the same 4.7 BILLION dollars in total prizes, including five top prizes of $100,000,000 apiece!

        This works because your chances of winning any prize might go WAY up, but when you do win a prize it will be very significant.

         

        So, we can all dream huh?  The expensive ticket might be exciting to see actually happen, but most people who have gotten wealthy enough to afford $1,000 to blow on a ticket got that way by NOT gambling.  Of course there's always the idiots who spend their families savings hoping to hit it big.  The 'lots of tickets' options would require an unprecedented amount of coorperation between the states, and is also not likely to happen.

        But, it never hurts to have ideas, huh?

        I was thinking that it was going to cost like 150-200 dollars...The reason for my thinking was the following...In Massachussets and New York they got this 30 dollar scratchoff [cant confirm so i heard] where they have 1 prize of 1 million dollars a year for life...I know that particular section of the state lottery does not have 1 million dollars a year for life to give out to and pray that is not a 25 year old who wins it and lives to be 90, because they will be lik 67 or something million dollars given out...My best guess is that they have or will accumulate 25, million dollars they place it in the bank and the earned interest each year which at 5% or 20 million will be 1 million a year for life...But i am trying to be realistic...Last time i ask a bank person how much was the interest on 1 million she told me it was 4.1%...So it will have to be like 25 million that they got...

        so i was thinking 25 million is 30 dollar scratchoff, so 4 times that it will be 100 million...I was actually thinking that it will come out to be 125 per scratchoff...So 30 dollars times 4 will equaled: 120 and if you made that a Tristate thing i'll be like 100 or 125 divided by 3...

        I don't know that's how i think...

        For 1 i know that most states do not have the population of New York or Massachussetts...

        The Forex trades: 1.6 Trillion dollars EVERY day, that´s more than the GDP of the Carribbean Central America, COMBINED. Enough to feed every crook out there for centuries...To all Geniuses & Powers Countries of the World the Planet needs breakthroughs in all Medicine, Veterinary, Biology related fields, Psychology, Population Psychology/Sociology..They need to genetically ingeneer new plants species/types to give more variety of plants and thus have more resources for combating diseases¨


         


         


         

         


          DoctorEw220's avatar - alien helmet.jpg
          Yinzer Country, PA
          United States
          Member #4067
          March 18, 2004
          2733 Posts
          Offline
          Posted: January 24, 2009, 2:47 am - IP Logged

          One thing I've noticed in PA is that the ratio of top prize to dollar amount gets bigger as the price goes up (1000-1 with a $1 ticket, 25,000-1 with a $10 ticket, 100,000-1 with a $25 ticket), so my guess would be $200 (500,000-1).

          I've redone my website.  Go to www.dr-ew.com.  I kept a lot of the old stuff, and I've added some new stuff.  Look for more new stuff in the coming weeks.