"Are you talking about Dollar Return On Investment or Number of Hits, no matter how small?"
Let's look at a 3 if 4 abbreviated pick-5 wheel.
When 4 of the drawn numbers are matched, the wheel guarantees at least one 3 number match. A balanced wheel where each of the numbers are entered into the wheel the same number of times can yield up to four 3 number matches. And since it matched 4 of the drawn numbers, on some wheels it's possible to have two to four 4 number matches.
My experience is with Ohio's Rolling Cash 5 where 2, 3, and 4 number matches pay $1, $10, and $300 respectively. I'd be playing the wheel to match 4 numbers to get at least a guaranteed $10 and a possible $40 or over $300 and a possible $1200 on a $12 bet.
If I was playing in the Challenges and wanted to play my picks, I'd use a 3 if 4 of 12 numbers balanced wheel with 12 lines. Each of the 12 numbers I choose appears in that wheel 5 times. The 4 bonus numbers can be used 3 times each. Using the same wheel playing pick-5 games like RC5 is a better bet because the secondary prizes are much higher without matching a bonus number, matching 2 numbers pays nothing in MM and PB, and the amount of possible numbers drawn is at least 43% higher than in 5/39 game.
As an example let's see what our buddy Rdgrnr could have done using his MM Challenge numbers on that wheel. Since "only" 3 of his numbers matched, there is no 3 match guarantee. The winning numbers where 22-23-33-39-48 + bonus number 29
1. 11-15-18-22-34 + 8
2. 11-15-18-34-39 + 18
3. 11-15-18-34-48 + 28
4. 11-15-18-34-51 + 38
5. 11-17-35-38-49 + 8
6. 15-17-35-38-49 + 18
7. 17-22-39-48-51 + 28
8. 22-35-39-48-51 + 38
9. 22-38-39-48-51 + 8
10. 22-39-48-49-51 + 18
11. 17-18-35-38-49 + 28
12. 17-34-35-38-49 + 38
Winning $16 on a $12 bet is not much to brag about, but it's huge considering the fact the numbers failed to meet the wheel guarantee. Had 11 been drawn, the numbers would have matched wheel guarantee (at least one 3 number match) and exceeded it times 4. Had 17, 35, 38, or 39 been drawn, one 4 number match plus three 3 number matches. Drawing 51 would produce four 4 numbers matches.
If you notice 11-15-18-34 would have produced four 4 number matches and any 3 produces four 3 number matches. Personally I think it's difficult enough matching 3 only using 12 out of 56 numbers, let alone 4. And because I believe matching the bonus number is key in MM and PB, this type of wheel would get better results for me in a 5/39 game.
*congrats to rdgrnr for matching 3 numbers!