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Ohio Lottery considering offering a $50 instant ticket

Topic closed. 47 replies. Last post 3 years ago by fwlawrence.

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LottoMetro's avatar - Lottery-024.jpg
Happyland
United States
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September 1, 2013
1129 Posts
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Posted: April 26, 2014, 3:45 pm - IP Logged

A $50 instant lottery ticket may be in the future, say Ohio Lottery officials buoyed by the success of the agency's first $30 instant ticket.

"The next step in the lottery world is the $50 ticket," lottery director Dennis Berg told lottery commission members at a recent meeting. "We have talked about it here and there are conflicting opinions. Logically it is the next price point, but we do not know when it will happen."

Texas appears to be the only state with a $50 ticket, made available by the Texas Lottery in 2007. Each of its two current $50 instant ticket options offer three $7.5 million prizes. The next prize level is $10,000.

To celebrate its 40th anniversary, the Ohio Lottery debuted the $30 scratch-off ticket in January — the most expensive and offering the largest instant prize in Ohio Lottery history. Five $10 million prizes ($400,000 annually for 25 years) 35 $1 million prizes ($40,000 annually for 25 years) will be awarded.

Sales of the $30 ticket from Jan. 12 through April 19 were $71.9 million, officials said, representing 17 percent of all instant ticket sales. Sales have grown each week. The ticket's success has helped the lottery's overall instant ticket sales, which account for more than half of sales.

Instant ticket sales had been declining for a variety of reasons, including the new racinos and casinos and consumers shopping at big-box stores that don't typically offer lottery games, officials said.

Instant ticket sales in March of $142.3 million were $15.9 million higher than March, 2013 and the highest ever recorded for that month in the lottery history, officials told commission members. It was all due to the $30 ticket.

The lottery currently sells $1, $2, $3, $5, $10 and $20 tickets. The $10 and $20 tickets have traditionally sold well, officials said.

Lottery officials also hope to boost sales with a new app that eliminates the need for players to fill out paper playslips. Beginning Monday, the e-playslip app is available for smartphones. Players choose numbers or have them picked automatically, save them and create a QR code. A retailer scans the code and prints out the ticket.

Only Idaho and Montana have similar apps, officials said.

Although the lottery is popularly tagged a "tax on the poor," a large proportion of players have a reasonably high salary. If those players want to spend $50 a pop, the lottery should have something to fill that demand...as ludicrous as it sounds. Just like the high-roller slots and high-roller tables at the casino ($500/hand Blackjack anyone? Smile).

Personally, I prefer tickets $20 and up, but that's because I see it from the odds perspective and not so much the entertainment of frequent-play. You probably can't imagine spending $100 and not winning it back, but if you buy 100 one dollar tickets and don't win it back, it's pretty much the same...you just get to suffer longer!

If the chances of winning the jackpot are so slim, why play when the jackpot is so small? Your chances never change, but the potential payoff does.
If a crystal ball showed you the future of the rest of your life, and in that future you will never win a jackpot, would you still play?

2016: -48.28% (13 tickets) ||
P&L % = Total Win($)/Total Wager($) - 1

    Avatar
    Louisville, KY
    United States
    Member #15734
    May 20, 2005
    203 Posts
    Offline
    Posted: April 26, 2014, 3:51 pm - IP Logged

    At least they listened in Ohio...

    (174) 40th Anniversary Millions $30

    PRIZES                              Remaining     TPD STATUS

    $400K/YR FOR 25 YRS      5     
    $40K/YR FOR 25 YRS      32     
    $ 50,000.00                      91     
    $ 20,000.00                      216     
    $ 5,000.00                      1,292     
    $ 1,000.00                      27,962     
    $ 500.00                              86,200     
    $ 200.00                              107,718     
    $ 100.00                              859,666     
    $ 50.00                              2,150,699     
    $ 40.00                              1,612,774     
    $ 30.00                              3,225,874     

    2nd tier is $50K. And this is a $30 ticket, too... You might think these are a lot of prizes left, but consider the print quantity...

    24 million tickets.

    24M * $30 = $720M Revenue (assuming they sold out)

    It advertises an 80% payout on the ticket, so 720M * 80% = $576M in prizes...

    It also has almost the same odds as Texas' $50 Casino Action: 1 in 2.66 for OH vs. 1 in 2.47 for TX.

    To me, the $30 ticket would be the better bargain. But if they did come out with a $50 ticket, I'd probably give it a try. Knowing Ohio, the top prize would prob be $25M, 2nd would be $5M, 3rd would be $100K... I'd play for a shot at something like that...

      Marilyn222's avatar - thumb 350-286546.jpg
      Denver
      United States
      Member #117684
      October 12, 2011
      552 Posts
      Offline
      Posted: April 26, 2014, 4:35 pm - IP Logged

      At least they listened in Ohio...

      (174) 40th Anniversary Millions $30

      PRIZES                              Remaining     TPD STATUS

      $400K/YR FOR 25 YRS      5     
      $40K/YR FOR 25 YRS      32     
      $ 50,000.00                      91     
      $ 20,000.00                      216     
      $ 5,000.00                      1,292     
      $ 1,000.00                      27,962     
      $ 500.00                              86,200     
      $ 200.00                              107,718     
      $ 100.00                              859,666     
      $ 50.00                              2,150,699     
      $ 40.00                              1,612,774     
      $ 30.00                              3,225,874     

      2nd tier is $50K. And this is a $30 ticket, too... You might think these are a lot of prizes left, but consider the print quantity...

      24 million tickets.

      24M * $30 = $720M Revenue (assuming they sold out)

      It advertises an 80% payout on the ticket, so 720M * 80% = $576M in prizes...

      It also has almost the same odds as Texas' $50 Casino Action: 1 in 2.66 for OH vs. 1 in 2.47 for TX.

      To me, the $30 ticket would be the better bargain. But if they did come out with a $50 ticket, I'd probably give it a try. Knowing Ohio, the top prize would prob be $25M, 2nd would be $5M, 3rd would be $100K... I'd play for a shot at something like that...

      I'd rather play MM/PB JP's than spending $30.00 or $50.00 for one scratch ticket.

      White Bounce

        Avatar

        United States
        Member #149820
        December 9, 2013
        644 Posts
        Offline
        Posted: April 26, 2014, 5:23 pm - IP Logged

        At least they listened in Ohio...

        (174) 40th Anniversary Millions $30

        PRIZES                              Remaining     TPD STATUS

        $400K/YR FOR 25 YRS      5     
        $40K/YR FOR 25 YRS      32     
        $ 50,000.00                      91     
        $ 20,000.00                      216     
        $ 5,000.00                      1,292     
        $ 1,000.00                      27,962     
        $ 500.00                              86,200     
        $ 200.00                              107,718     
        $ 100.00                              859,666     
        $ 50.00                              2,150,699     
        $ 40.00                              1,612,774     
        $ 30.00                              3,225,874     

        2nd tier is $50K. And this is a $30 ticket, too... You might think these are a lot of prizes left, but consider the print quantity...

        24 million tickets.

        24M * $30 = $720M Revenue (assuming they sold out)

        It advertises an 80% payout on the ticket, so 720M * 80% = $576M in prizes...

        It also has almost the same odds as Texas' $50 Casino Action: 1 in 2.66 for OH vs. 1 in 2.47 for TX.

        To me, the $30 ticket would be the better bargain. But if they did come out with a $50 ticket, I'd probably give it a try. Knowing Ohio, the top prize would prob be $25M, 2nd would be $5M, 3rd would be $100K... I'd play for a shot at something like that...

        Now this prize tier is pretty good the 2nd tier prize is 40k for 25 years. I'd be playing to hopefully hit that in the very least. Also I believe the total payout of the grand prize equals more than the $50 ticket's grand prize

          Jon D's avatar - calotterylogo
          Los Angeles, California
          United States
          Member #103813
          January 5, 2011
          1530 Posts
          Offline
          Posted: April 26, 2014, 6:33 pm - IP Logged

          Yep, and getting stingier with current games.

          Yep, just more greed of the lottery industry.

          This is what gets me:

          Instant ticket sales had been declining for a variety of reasons, including the new racinos and casinos and consumers shopping at big-box stores that don't typically offer lottery games, officials said.

          Well now, we can't have that! How dare the private casinos and other businesses compete and take away sales from our government run monopoly lottery gambling operation! We need to step it up and bring out a $50 ticket to stop that! Confused

          Stop

          I'm for limited government, and against the unlimited, unchecked expansion of government.

          In the same way, I think the lottery has a reason to exist, but it should be limited and they should not be trying to increase revenue and market share year after year as if they were a private company. They're not. They succeed because they have laws against competition and other forms of gambling, so that for many people, the state lottery is literally the only game in town.

            Jon D's avatar - calotterylogo
            Los Angeles, California
            United States
            Member #103813
            January 5, 2011
            1530 Posts
            Offline
            Posted: April 26, 2014, 6:35 pm - IP Logged

            Although the lottery is popularly tagged a "tax on the poor," a large proportion of players have a reasonably high salary. If those players want to spend $50 a pop, the lottery should have something to fill that demand...as ludicrous as it sounds. Just like the high-roller slots and high-roller tables at the casino ($500/hand Blackjack anyone? Smile).

            Personally, I prefer tickets $20 and up, but that's because I see it from the odds perspective and not so much the entertainment of frequent-play. You probably can't imagine spending $100 and not winning it back, but if you buy 100 one dollar tickets and don't win it back, it's pretty much the same...you just get to suffer longer!

            If those players want to spend $50 a pop, the lottery should have something to fill that demand

            No, the lottery should get out of the way and let private business cater to high rollers.

            Spoken like a true shill for the lottery industry that you are LottoMetro. Thumbs Down

              dallascowboyfan's avatar - tiana the-princess-and-the-frog.jpg
              Oklahoma
              United States
              Member #82391
              November 12, 2009
              6290 Posts
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              Posted: April 26, 2014, 6:59 pm - IP Logged

              Texas has a $50 scratcher too.

              I Love Pink & Green 1908

                LottoMetro's avatar - Lottery-024.jpg
                Happyland
                United States
                Member #146344
                September 1, 2013
                1129 Posts
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                Posted: April 26, 2014, 7:11 pm - IP Logged

                If those players want to spend $50 a pop, the lottery should have something to fill that demand

                No, the lottery should get out of the way and let private business cater to high rollers.

                Spoken like a true shill for the lottery industry that you are LottoMetro. Thumbs Down

                So in other words, you would rather the greedy casinos get it? Spoken like a true shill for the casino industry. Green laugh

                At least with the lottery, a larger proportion goes towards good causes:

                Only about 11% of gross casino revenue in Ohio goes towards education.

                Compare that to about 29% of gross lottery revenue going towards education.

                If the chances of winning the jackpot are so slim, why play when the jackpot is so small? Your chances never change, but the potential payoff does.
                If a crystal ball showed you the future of the rest of your life, and in that future you will never win a jackpot, would you still play?

                2016: -48.28% (13 tickets) ||
                P&L % = Total Win($)/Total Wager($) - 1

                  Jon D's avatar - calotterylogo
                  Los Angeles, California
                  United States
                  Member #103813
                  January 5, 2011
                  1530 Posts
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                  Posted: April 26, 2014, 7:28 pm - IP Logged

                  So in other words, you would rather the greedy casinos get it? Spoken like a true shill for the casino industry. Green laugh

                  At least with the lottery, a larger proportion goes towards good causes:

                  Only about 11% of gross casino revenue in Ohio goes towards education.

                  Compare that to about 29% of gross lottery revenue going towards education.

                  Yeah LottoMetro, I'm for less taxes on business and free market competition.

                  So I see your true liberal colors come out now, eh, LottoMetro. More taxes are always good taxes, as long as it's for a good cause? Bang Head

                  I'd rather a business be taxed less, on profits, rather than a very heavy what amounts to a 30% up front sales tax on revenue, embedded into the cost of the product with low payouts to players. 

                  Hey LottoMetro,

                  You went silent and disappeared on the last question I asked you back in the other thread:

                  http://www.lotterypost.com/thread/274352/3570012

                  You can answer there, or answer here, I'll pose it again: (answering there would be better)

                  How is it that you can play the lottery when you are a lottery industry insider? Isn't that unethical? I thought that was not allowed in most places, for people with inside access to information, people and systems to play the lottery?

                    LottoMetro's avatar - Lottery-024.jpg
                    Happyland
                    United States
                    Member #146344
                    September 1, 2013
                    1129 Posts
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                    Posted: April 26, 2014, 7:48 pm - IP Logged

                    Yeah LottoMetro, I'm for less taxes on business and free market competition.

                    So I see your true liberal colors come out now, eh, LottoMetro. More taxes are always good taxes, as long as it's for a good cause? Bang Head

                    I'd rather a business be taxed less, on profits, rather than a very heavy what amounts to a 30% up front sales tax on revenue, embedded into the cost of the product with low payouts to players. 

                    Hey LottoMetro,

                    You went silent and disappeared on the last question I asked you back in the other thread:

                    http://www.lotterypost.com/thread/274352/3570012

                    You can answer there, or answer here, I'll pose it again: (answering there would be better)

                    How is it that you can play the lottery when you are a lottery industry insider? Isn't that unethical? I thought that was not allowed in most places, for people with inside access to information, people and systems to play the lottery?

                    More taxes are always good taxes, as long as it's for a good cause? 

                    This is irrelevant. We're talking about players. That has little effect on the player's wager. $50 is $50 whether it's played on the lottery or at the casino.

                    If casinos were taxed on profits, there would be no tax revenue because there would be no "profits." A little creative bookkeeping can go a long way. Being taxed on gross revenues is actually more beneficial for both sides.

                    If the chances of winning the jackpot are so slim, why play when the jackpot is so small? Your chances never change, but the potential payoff does.
                    If a crystal ball showed you the future of the rest of your life, and in that future you will never win a jackpot, would you still play?

                    2016: -48.28% (13 tickets) ||
                    P&L % = Total Win($)/Total Wager($) - 1

                      Coin Toss's avatar - shape barbed.jpg
                      Zeta Reticuli Star System
                      United States
                      Member #30470
                      January 17, 2006
                      10345 Posts
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                      Posted: April 26, 2014, 7:59 pm - IP Logged

                      From Ask.com:

                      Does Lottery Money Really Go to Education?

                      Answer

                      Lottery proceeds do go toward education and other things, but the money doesn't have a great effect. In fact, some say it causes more harm than good. The money isn't directly added to education programs, but is instead factored into the budget. The article 'Where Does Lottery Revenue Go?' at http://abcnews.go.com/US/story?id=92595&Page=1 provides an in-depth look at where the money really goes.

                      Those who run the lotteries love it when players look for consistency in something that's designed not to have any.

                      Lep

                      There is one and only one 'proven' system, and that is to book the action. No matter the game, let the players pick their own losers.

                        Jon D's avatar - calotterylogo
                        Los Angeles, California
                        United States
                        Member #103813
                        January 5, 2011
                        1530 Posts
                        Offline
                        Posted: April 26, 2014, 8:16 pm - IP Logged

                        More taxes are always good taxes, as long as it's for a good cause? 

                        This is irrelevant. We're talking about players. That has little effect on the player's wager. $50 is $50 whether it's played on the lottery or at the casino.

                        If casinos were taxed on profits, there would be no tax revenue because there would be no "profits." A little creative bookkeeping can go a long way. Being taxed on gross revenues is actually more beneficial for both sides.

                        LOL Oh, LottoMetro, I can't believe you'd make a such a dumb statement! Green laugh

                        Yeah brainiac, players choose games based on the payouts. Duh! A regular casino would offer $900 prize for a pick 3 straight. But the lottery, because of it's built-in tax on revenues embedded into the cost of the game and needing to shave off another 30-40% from the prize, only pays $500, or $600 in some states. So yeah, a player will choose where to spend his $50 wager depending government's rake on the business. $50 ain't the same $50 worth of gaming/action depending on the payouts.

                        You know, it's dumb statements like this, along with your repeated lies, misrepresentations and unethical activity that makes one question your storied credentials.

                        For those of you just tuning in, LottoMetro is no lottery player.

                        In past postings, LottoMetro has revealed that he is a mathematician, a business/economics grad, with millionaire and billionaire friends, is a published author, featured on national TV, works in the TV and film industry...and works in the lottery industry.

                        Yet he hangs around here all the time trying to build his LottoMetro brand, making a nuisance of himself in an unprofessional and unethical display of vanity and insecurity. I don't understand it.

                        P.S. You still ducked the previous question I see. Wink

                          Jon D's avatar - calotterylogo
                          Los Angeles, California
                          United States
                          Member #103813
                          January 5, 2011
                          1530 Posts
                          Offline
                          Posted: April 26, 2014, 8:18 pm - IP Logged

                          From Ask.com:

                          Does Lottery Money Really Go to Education?

                          Answer

                          Lottery proceeds do go toward education and other things, but the money doesn't have a great effect. In fact, some say it causes more harm than good. The money isn't directly added to education programs, but is instead factored into the budget. The article 'Where Does Lottery Revenue Go?' at http://abcnews.go.com/US/story?id=92595&Page=1 provides an in-depth look at where the money really goes.

                          I Agree! Not only is the built-in lottery tax excessive, it is often misused away from it's stated purpose Here is Cali as well.

                            LottoMetro's avatar - Lottery-024.jpg
                            Happyland
                            United States
                            Member #146344
                            September 1, 2013
                            1129 Posts
                            Offline
                            Posted: April 26, 2014, 8:31 pm - IP Logged

                            LOL Oh, LottoMetro, I can't believe you'd make a such a dumb statement! Green laugh

                            Yeah brainiac, players choose games based on the payouts. Duh! A regular casino would offer $900 prize for a pick 3 straight. But the lottery, because of it's built-in tax on revenues embedded into the cost of the game and needing to shave off another 30-40% from the prize, only pays $500, or $600 in some states. So yeah, a player will choose where to spend his $50 wager depending government's rake on the business. $50 ain't the same $50 worth of gaming/action depending on the payouts.

                            You know, it's dumb statements like this, along with your repeated lies, misrepresentations and unethical activity that makes one question your storied credentials.

                            For those of you just tuning in, LottoMetro is no lottery player.

                            In past postings, LottoMetro has revealed that he is a mathematician, a business/economics grad, with millionaire and billionaire friends, is a published author, featured on national TV, works in the TV and film industry...and works in the lottery industry.

                            Yet he hangs around here all the time trying to build his LottoMetro brand, making a nuisance of himself in an unprofessional and unethical display of vanity and insecurity. I don't understand it.

                            P.S. You still ducked the previous question I see. Wink

                            Yeah brainiac, players choose games based on the payouts.

                            First you say players only choose games for the "action," oh now SUDDENLY they care about payouts (something I have said all along)? Must be confused again, poor fellow. You contradict yourself a lot, perhaps you should pay attention to your own mouth instead of others' mouths.

                            Regurgitating your critiques of me doesn't faze me whatsoever; in fact, I find it highly amusing. Cheers

                            I don't disagree with those who find that lottery revenue is not as effective for education as advertised; technically, that could apply to any given claim or revenue program (I would even go as far as including charities in that). However, in this case, you can actually find online/request documents from Ohio which shows direct transfers from the education fund to specific schools. Now whether they use those funds to hire more teachers or pay for Timmy's lunch, that's their business. But I think most people would rather the gambler's money go there than the pockets of Mr. Wynn.

                            If the chances of winning the jackpot are so slim, why play when the jackpot is so small? Your chances never change, but the potential payoff does.
                            If a crystal ball showed you the future of the rest of your life, and in that future you will never win a jackpot, would you still play?

                            2016: -48.28% (13 tickets) ||
                            P&L % = Total Win($)/Total Wager($) - 1

                              Jon D's avatar - calotterylogo
                              Los Angeles, California
                              United States
                              Member #103813
                              January 5, 2011
                              1530 Posts
                              Offline
                              Posted: April 26, 2014, 8:52 pm - IP Logged

                              Yeah brainiac, players choose games based on the payouts.

                              First you say players only choose games for the "action," oh now SUDDENLY they care about payouts (something I have said all along)? Must be confused again, poor fellow. You contradict yourself a lot, perhaps you should pay attention to your own mouth instead of others' mouths.

                              Regurgitating your critiques of me doesn't faze me whatsoever; in fact, I find it highly amusing. Cheers

                              I don't disagree with those who find that lottery revenue is not as effective for education as advertised; technically, that could apply to any given claim or revenue program (I would even go as far as including charities in that). However, in this case, you can actually find online/request documents from Ohio which shows direct transfers from the education fund to specific schools. Now whether they use those funds to hire more teachers or pay for Timmy's lunch, that's their business. But I think most people would rather the gambler's money go there than the pockets of Mr. Wynn.

                              First you say players only choose games for the "action," oh now SUDDENLY they care about payouts (something I have said all along)? Must be confused again, poor fellow. You contradict yourself a lot, perhaps you should pay attention to your own mouth instead of others' mouths.

                              Oh LottoMetro, why am I not surprised. No Nod Because this is classic LottoMetro, that's why. When he's losing an argument, he turns to lies and misrepresentations.

                              Anyone can read the thread which he's referring to, where I stated that a casino's "product" is the action.(which includes the prizes offered) Then you can understand the depth of his depravity:

                              http://www.lotterypost.com/thread/274704/3571749

                              He does this tactic of lies and misrepresentations to many other LP members too, most recently:

                              http://www.lotterypost.com/thread/273839/3575956

                              No No

                              P.S. Hey LottoMetro, I noticed that the vanity domain name that you admitted creating for yourself in a previous post:

                              http://lottometro.com/

                              is now redirected to Princeton Math Department. Is that your alma mater? What do your fellows think of your brilliant postings here. LOL