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Pari-Mutuel Powerball

Topic closed. 32 replies. Last post 2 years ago by dallascowboyfan.

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JKING's avatar - Kaleidoscope 3.gif

United States
Member #5599
July 13, 2004
1163 Posts
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Posted: April 3, 2013, 1:29 pm - IP Logged

Hi,

  Wow, I finally get to play Powerball next week.

  My understanding is that all lottery prizes in California are pari-mutual. So how does that work if you get 5 of 5?

  Isn't the 5 of 5 payout in non-pari-mutual states $1,000,000 regardless of how many 5 of 5 winners there are?

  Will California simply split the $1,000,000 by how many 5 of 5 winners there are?

  Does anyone know how it will work?

You are a slave to the choices you have made.  jk

Even a blind squirrel will occasioanlly find an acorn.

    Original Bey's avatar - Lottery-022.jpg

    Bahamas
    Member #133467
    September 30, 2012
    5462 Posts
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    Posted: April 3, 2013, 1:33 pm - IP Logged

    The following was taken directly from the CA lottery website's Q&A regarding the Powerball. Hope this helps.

     

    12.  PowerPlay:  Some states offer PowerPlay and California will not. Why? 
    • California will NOT offer the PowerPlay feature because all California prizes are pari-mutual by law and PowerPlay cannot be applied to pari-mutual prizes.

    "Everything works  ONCE!"

      JKING's avatar - Kaleidoscope 3.gif

      United States
      Member #5599
      July 13, 2004
      1163 Posts
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      Posted: April 3, 2013, 1:58 pm - IP Logged

      The following was taken directly from the CA lottery website's Q&A regarding the Powerball. Hope this helps.

       

      12.  PowerPlay:  Some states offer PowerPlay and California will not. Why? 
      • California will NOT offer the PowerPlay feature because all California prizes are pari-mutual by law and PowerPlay cannot be applied to pari-mutual prizes.

      So, let's say there are four 5 of 5 winners in a given state...

      California...recieves $1,000,000 to split four ways.

      Non-parimutual State B recieves $4,000,000 to be split 4 ways.

      Does that sound about right? It would make California legislative sense. *L*

      You are a slave to the choices you have made.  jk

      Even a blind squirrel will occasioanlly find an acorn.

        Original Bey's avatar - Lottery-022.jpg

        Bahamas
        Member #133467
        September 30, 2012
        5462 Posts
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        Posted: April 3, 2013, 2:04 pm - IP Logged

        So, let's say there are four 5 of 5 winners in a given state...

        California...recieves $1,000,000 to split four ways.

        Non-parimutual State B recieves $4,000,000 to be split 4 ways.

        Does that sound about right? It would make California legislative sense. *L*

        Correct. Keep in mind however, the individual state funds all of its non jackpot prizes.

        "Everything works  ONCE!"

          JKING's avatar - Kaleidoscope 3.gif

          United States
          Member #5599
          July 13, 2004
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          Posted: April 3, 2013, 3:09 pm - IP Logged

          Correct. Keep in mind however, the individual state funds all of its non jackpot prizes.

          So basically, California is screwing its constituants out of 100's of millions of dollars from the non-pari-mutuel states.

          Would that be correct?

          You are a slave to the choices you have made.  jk

          Even a blind squirrel will occasioanlly find an acorn.

            Original Bey's avatar - Lottery-022.jpg

            Bahamas
            Member #133467
            September 30, 2012
            5462 Posts
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            Posted: April 3, 2013, 3:11 pm - IP Logged

            So basically, California is screwing its constituants out of 100's of millions of dollars from the non-pari-mutuel states.

            Would that be correct?

            On the advice of my attorney....lol!

            "Everything works  ONCE!"

              RJOh's avatar - chipmunk
              mid-Ohio
              United States
              Member #9
              March 24, 2001
              17952 Posts
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              Posted: April 3, 2013, 4:11 pm - IP Logged

              Hi,

                Wow, I finally get to play Powerball next week.

                My understanding is that all lottery prizes in California are pari-mutual. So how does that work if you get 5 of 5?

                Isn't the 5 of 5 payout in non-pari-mutual states $1,000,000 regardless of how many 5 of 5 winners there are?

                Will California simply split the $1,000,000 by how many 5 of 5 winners there are?

                Does anyone know how it will work?

               " Will California simply split the $1,000,000 by how many 5 of 5 winners there are?"

              How does California treat the $250K prize won by MM players who match 5of5?  Most of the times a single or couple of winners come out ahead.  It's only when there are a bunch of them, they come up short.

              * you don't need more tickets, just the right ticket * 
              * your best chance at winning a lottery jackpot is to buy a ticket * 
                   Wink 

                Jon D's avatar - calotterylogo
                Los Angeles, California
                United States
                Member #103816
                January 5, 2011
                1530 Posts
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                Posted: April 3, 2013, 4:13 pm - IP Logged

                Hi,

                  Wow, I finally get to play Powerball next week.

                  My understanding is that all lottery prizes in California are pari-mutual. So how does that work if you get 5 of 5?

                  Isn't the 5 of 5 payout in non-pari-mutual states $1,000,000 regardless of how many 5 of 5 winners there are?

                  Will California simply split the $1,000,000 by how many 5 of 5 winners there are?

                  Does anyone know how it will work?

                In CA pari-mutuel jackpots games, there is a fixed percentage for those top prize tiers, and if nothing is won, the amount rolls over to the next draw.

                For Mega Millions, its about 5.5% of revenue for the 5/5 prize tier. So with an average of $3,000,000 revenue for MM, that's about $165,000.

                We don't know what the revenue will be for Powerball, or the 5/5 prize tier share. But if we assume it will have the same number of picks/plays of 3,000,000 for PB, then you have $6,000,000 revenue. Combine that with something like 8% as a guess for the PB 5/5 prize tier gives you a prize of about $480,000, split between however many winners ther are.

                  dallascowboyfan's avatar - tiana the-princess-and-the-frog.jpg
                  Oklahoma
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                  Member #82391
                  November 12, 2009
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                  Posted: April 3, 2013, 5:04 pm - IP Logged

                  In CA pari-mutuel jackpots games, there is a fixed percentage for those top prize tiers, and if nothing is won, the amount rolls over to the next draw.

                  For Mega Millions, its about 5.5% of revenue for the 5/5 prize tier. So with an average of $3,000,000 revenue for MM, that's about $165,000.

                  We don't know what the revenue will be for Powerball, or the 5/5 prize tier share. But if we assume it will have the same number of picks/plays of 3,000,000 for PB, then you have $6,000,000 revenue. Combine that with something like 8% as a guess for the PB 5/5 prize tier gives you a prize of about $480,000, split between however many winners ther are.

                  Good info JonThumbs Up

                  I Love Pink & Green 1908

                    dallascowboyfan's avatar - tiana the-princess-and-the-frog.jpg
                    Oklahoma
                    United States
                    Member #82391
                    November 12, 2009
                    5426 Posts
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                    Posted: April 3, 2013, 5:06 pm - IP Logged

                    The following was taken directly from the CA lottery website's Q&A regarding the Powerball. Hope this helps.

                     

                    12.  PowerPlay:  Some states offer PowerPlay and California will not. Why? 
                    • California will NOT offer the PowerPlay feature because all California prizes are pari-mutual by law and PowerPlay cannot be applied to pari-mutual prizes.

                    No Powerplay or Megaply dang that suxs.

                    I Love Pink & Green 1908

                      maringoman's avatar - kobold
                      Massachusetts
                      United States
                      Member #37433
                      April 14, 2006
                      2125 Posts
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                      Posted: April 3, 2013, 5:35 pm - IP Logged

                      No Powerplay or Megaply dang that suxs.

                      I know! I often add the powerplay and megaplier just so that I could feel I cheated and got away with it should I ever win.

                      It's a futile effort.

                        JKING's avatar - Kaleidoscope 3.gif

                        United States
                        Member #5599
                        July 13, 2004
                        1163 Posts
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                        Posted: April 3, 2013, 5:46 pm - IP Logged

                        If you find this upsetting like I do. I can only suggest that you E-mail the link of this thread to you local California newspaprer and TV station.

                        Transparency in California government for all to see.

                        You are a slave to the choices you have made.  jk

                        Even a blind squirrel will occasioanlly find an acorn.

                          Jon D's avatar - calotterylogo
                          Los Angeles, California
                          United States
                          Member #103816
                          January 5, 2011
                          1530 Posts
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                          Posted: April 3, 2013, 6:15 pm - IP Logged

                          If you find this upsetting like I do. I can only suggest that you E-mail the link of this thread to you local California newspaprer and TV station.

                          Transparency in California government for all to see.

                          Just to clarify my earlier post: there is nothing *wrong* with the way CA structures it's jackpot games per se, that's just the way pari-mutuel works.

                          A comparable percentage of revenue is paid out in prizes as compared to other states. And the 5/5 is not hit on every draw in MM, it often times rolls and is above $250,000. Same will be true for PB, 5/5 will probably only be hit every 2 or 3 draws, so it will be higher than $1,000,000 many times, and higher still when the jackpot is huge.

                          We also don't have the Megaplier or Powerplay side bet, but the benefit of that is debatable.

                            Avatar
                            Kentucky
                            United States
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                            February 14, 2006
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                            Posted: April 3, 2013, 7:19 pm - IP Logged

                             " Will California simply split the $1,000,000 by how many 5 of 5 winners there are?"

                            How does California treat the $250K prize won by MM players who match 5of5?  Most of the times a single or couple of winners come out ahead.  It's only when there are a bunch of them, they come up short.

                            There was only one 5 + 0 last night and they only got $201,115. Race tracks take their percentage cut off the top of each pool and payoffs are determined by the number of winning tickets in each pool. A percentage of MM sales is applied to the jackpot and probably before their cut is deducted. I believe the 1 + 1 and 0 + 1 payoff are fixed, but including them, they still paid out 67% of their total MM sales to prizes.

                              HoLeeKau's avatar - YheaShea
                              Idaho
                              United States
                              Member #94285
                              July 17, 2010
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                              Posted: April 3, 2013, 8:20 pm - IP Logged

                              Just to clarify my earlier post: there is nothing *wrong* with the way CA structures it's jackpot games per se, that's just the way pari-mutuel works.

                              A comparable percentage of revenue is paid out in prizes as compared to other states. And the 5/5 is not hit on every draw in MM, it often times rolls and is above $250,000. Same will be true for PB, 5/5 will probably only be hit every 2 or 3 draws, so it will be higher than $1,000,000 many times, and higher still when the jackpot is huge.

                              We also don't have the Megaplier or Powerplay side bet, but the benefit of that is debatable.

                              I was just gonna ask if there were no winners, if the pool rolls to the next drawing.  That's actually not a bad system

                               

                              Most states have a limit to how much they'll pay out at each level for each drawing, but I don't know what that is.  So it could be pari-mutual in just about any state if there are enough winners, and each ticket could be worth less than a mil.  However, if there's only one winner they don't get the entire pot - they can never win more than a million (or two if they purchase the power play) so California doesn't look so bad, really.