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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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mypiemaster's avatar - 2015021003pileofcash
JACKPOT HUNTER

United States
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April 2, 2013
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Posted: April 27, 2014, 12:35 am - IP Logged

Will be interesting, to see the look, on the face of the individual, who just scratched a losing $50.00 ticket. Absolute madness!.

Seek and ye shall find -Matt. 7:7 ...Ask and ye shall receive -John 16:24 ...Give and it shall be given unto you -Luke 6:38 ...Be careful what you ask for!!! -Mypiemaster 1:1

Having Money Solves Problems That Not Having Money Creates Yes Nod ****John Carlton****

    RJOh's avatar - chipmunk
    mid-Ohio
    United States
    Member #9
    March 24, 2001
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    Posted: April 27, 2014, 10:43 am - IP Logged

    Will be interesting, to see the look, on the face of the individual, who just scratched a losing $50.00 ticket. Absolute madness!.

    For $50, they could afford to throw every sucker who buys one a $1-$5 prize and still make money.  In fact they should make sure every ticket is a winner even if it's only a dollar.  After all, MM is willing to chance paying a dollar to every player who spend $15 on MM tickets and they're offering a bigger prize.

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

      Jon D's avatar - calotterylogo
      Los Angeles, California
      United States
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      January 5, 2011
      1530 Posts
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      Posted: April 27, 2014, 11:58 am - IP Logged

      For $50, they could afford to throw every sucker who buys one a $1-$5 prize and still make money.  In fact they should make sure every ticket is a winner even if it's only a dollar.  After all, MM is willing to chance paying a dollar to every player who spend $15 on MM tickets and they're offering a bigger prize.

      I've seen people suggest that before, having the high priced ticket have a minimum guaranteed win. But if the $50 ticket had a minimum guaranteed $5 win, why not just make it a $45 ticket and forego the superfluous $5 transaction? (I realize $45 is not a nice round number...)

      And high roller scratch players already have a way to guarantee a win: they buy an entire pack. Just look at the scratch forums and see people buying entire packs of $10,$20,$30 or higher tickets. At 30-100 tickets per pack depending, that's dropping anywhere from $500-$1000 to buy a pack.(smaller denom tickets are only couple hundo for a pack) But due to the way scratch tickets are not *random* and have a fixed minimum number of wins per pack, that means they are guaranteed to get back around 1/3 of their money spent as the minimum pack value. That's still good chance of losing a few hundred a pop, so it's not for those with small wallets or weak constitutions. Wink

        Marilyn222's avatar - thumb 350-286546.jpg
        Denver
        United States
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        October 12, 2011
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        Posted: April 27, 2014, 12:04 pm - IP Logged

         it's not for those with small wallets or weak constitutions.  Wink

        Lol...Green laugh

        White Bounce

          Jon D's avatar - calotterylogo
          Los Angeles, California
          United States
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          January 5, 2011
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          Posted: April 27, 2014, 12:07 pm - IP Logged

           it's not for those with small wallets or weak constitutions.  Wink

          Lol...Green laugh

          Thumbs Up I don't buy packs myself. But hey, if you got the bucks and the cajones, go for it!

            Coin Toss's avatar - shape barbed.jpg
            Zeta Reticuli Star System
            United States
            Member #30470
            January 17, 2006
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            Posted: April 27, 2014, 1:41 pm - IP Logged

            For $50, they could afford to throw every sucker who buys one a $1-$5 prize and still make money.  In fact they should make sure every ticket is a winner even if it's only a dollar.  After all, MM is willing to chance paying a dollar to every player who spend $15 on MM tickets and they're offering a bigger prize.

            RJOh,

            Who do you think MM makes more off of, a $1 player or a $15 player?

            Any one willing to put up $15 to guarantee a $1 'win' is considered a perfect player for the house.

            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.

              RJOh's avatar - chipmunk
              mid-Ohio
              United States
              Member #9
              March 24, 2001
              19830 Posts
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              Posted: April 27, 2014, 3:42 pm - IP Logged

              RJOh,

              Who do you think MM makes more off of, a $1 player or a $15 player?

              Any one willing to put up $15 to guarantee a $1 'win' is considered a perfect player for the house.

              Since the over all odds of winning something are 1:15, it shouldn't make any difference whether a player spend $15 one time or $1 fifteen times.

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

                LottoMetro's avatar - Lottery-024.jpg
                Happyland
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                September 1, 2013
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                Posted: April 27, 2014, 4:25 pm - IP Logged

                If both players play the same number of tickets over the long run, there really isn't a difference to the lottery because the house edge stays the same.

                For the player, though, there is a slight difference in the probability that they win.

                $1 played 15 times = 65.24% probability of winning at least once

                $15 played 1 time = 100% probability of winning at least once

                This is the reason why some lotteries force quick picks on some games. The "decay" from repeated independent trials decreases their variance.

                The player who only spends $1 per draw may actually have to spend more to get a win. On the other hand, they will play more draws (few people can spend $15/draw), which makes them more marketable in the lottery's eyes.

                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

                  ONEDAY's avatar - DiscoBallGlowing
                  OHIO
                  United States
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                  June 30, 2004
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                  Posted: April 27, 2014, 4:43 pm - IP Logged

                  I only play a $50 ticket if the odds were 1 in 2. with a min prize of $100!

                  Actually the good thing about this article is no more payslips..you can use your phone..great for those who play like 40 numbers a draw! plus I may actually be able to play pairs on pick 3 now..All the clerks do not know how to enter pairs for pick , and Ohio lottery will not make a slip with a pairs option.

                  have a great winning day!

                    Goteki54's avatar - Lottery-007.jpg
                    Baltimore, MD
                    United States
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                    Posted: April 27, 2014, 5:36 pm - IP Logged

                    And they say us players are greddySmash The states have a good thing going with the lottery, yet they have to push for more and more. There is no way in hell I would spend $50 on a scartch off.

                    Following the trends and patterns means following the money!Banana

                      RJOh's avatar - chipmunk
                      mid-Ohio
                      United States
                      Member #9
                      March 24, 2001
                      19830 Posts
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                      Posted: April 28, 2014, 12:26 am - IP Logged

                      And they say us players are greddySmash The states have a good thing going with the lottery, yet they have to push for more and more. There is no way in hell I would spend $50 on a scartch off.

                      Lottery commissions are under pressure to show an increase in profit every year like there's no limit to the amounts players will spend if they have a chance.

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

                        RJOh's avatar - chipmunk
                        mid-Ohio
                        United States
                        Member #9
                        March 24, 2001
                        19830 Posts
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                        Posted: April 28, 2014, 12:44 am - IP Logged

                        I only play a $50 ticket if the odds were 1 in 2. with a min prize of $100!

                        Actually the good thing about this article is no more payslips..you can use your phone..great for those who play like 40 numbers a draw! plus I may actually be able to play pairs on pick 3 now..All the clerks do not know how to enter pairs for pick , and Ohio lottery will not make a slip with a pairs option.

                        "All the clerks do not know how to enter pairs for pick......"

                        What make you think if clerks weren't trained to enter pairs for picks they will be trained to print tickets from your phone?

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

                          noise-gate's avatar - images q=tbn:ANd9GcR91HDs4UJhjxO7cmeMQWZ5lB_FOcMLOGicau4V74R45tDgPWrr
                          Bay Area - California
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                          December 12, 2012
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                          Posted: April 28, 2014, 8:06 pm - IP Logged

                          Why would Ohio offer a $50.00 instant ticket when they can barely get people in their own State  to invest their hard earned money on the Ohio Classic?

                            Arrowhead's avatar - underground
                            Ohio
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                            December 27, 2011
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                            Posted: April 28, 2014, 11:33 pm - IP Logged

                            Why would Ohio offer a $50.00 instant ticket when they can barely get people in their own State  to invest their hard earned money on the Ohio Classic?

                            Which, by the way, went another night without JP win. Now at $68.6 mil. for Wed.

                             

                            No JP winner: two years, 4 months, whatever and counting...Sleep

                              noise-gate's avatar - images q=tbn:ANd9GcR91HDs4UJhjxO7cmeMQWZ5lB_FOcMLOGicau4V74R45tDgPWrr
                              Bay Area - California
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                              Posted: April 29, 2014, 12:33 am - IP Logged

                              Which, by the way, went another night without JP win. Now at $68.6 mil. for Wed.

                               

                              No JP winner: two years, 4 months, whatever and counting...Sleep

                              The Ohio Lottery Officials are probably saying " We do it because we can"..

                              Well..