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Lottery excitement builds as Mega Millions reaches $111 million

Topic closed. 16 replies. Last post 11 years ago by RJOh.

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United States
Member #972
December 30, 2002
465 Posts
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Posted: August 30, 2005, 10:41 am - IP Logged

The interesting thing to me is that every state would go pari-mutuel in reducing the prizes if there were more winners than expected, but only CA uses pari-mutuel to raise the prizes when there are fewer winners than expected. Revealing the other states to be the cheap greedheads they are.

    RJOh's avatar - chipmunk
    mid-Ohio
    United States
    Member #9
    March 24, 2001
    19816 Posts
    Online
    Posted: August 31, 2005, 8:15 pm - IP Logged

    All states are contributing 32% of their ticket sales to the jackpot, so if they all keep 50% for themselves that leaves 18% of their sales for the other prizes weather their payouts are pari-mutuel or fixed.  The fixed amounts will equal 18% overtime.  When New York had five 5+0 winners, their payout to their winners was greater than 18% for that drawing but will be balanced by other drawings when they have no 5+0 winners.

    RJOh

     * you don't need to buy more tickets, just buy a winning ticket * 
       
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