Michigan Lottery starts Millionaire Raffle game

Comment #6

qutgnt — Thu, 16 Nov 2006 05:01:01 GMT

Oh by the way it is an annuitized prize of a million so the true payback percentage is horrendous more like 50% ish. Unreal.

Comment #5

qutgnt — Thu, 16 Nov 2006 03:22:20 GMT

Alright now we are talking, a 67% payback. PA should be ashamed. Hopefully I can get 5 of them when I go to Mich for TG.

Comment #4

Rick G — Wed, 15 Nov 2006 19:03:32 GMT

I agree...100,000 to1 odds is much more appealing. I wouldn't play for 20 bucks at any higher odds than that. I'm hoping IL gets into this ballgame under the same parameters as MI. A 5/39 game is 575,000 to 1 and I'm spending a buck a day on it. I'd play the raffle and suspend my 5/39 betting for 20 days.

Comment #3

Bradly_60 — Wed, 15 Nov 2006 18:45:00 GMT

These are interesting games. I was the one the told the Michigan Lottery (sent them an e-mail) to get this game and they did. Since PA started this last year it has been a hit. Now states all over are having games like this. But did you see Florida's version. I wouldn't recommend that one. They are selling 1.25 million tickets. That is double what most states usually have but their lowest prize is $10,000 with overall odds of winning about 1 in 10,000. For a $20 ticket those odds are jus... [ More ]

Comment #2

Rick G — Wed, 15 Nov 2006 18:05:55 GMT

It does sound like an interesting game. I'd buy a ticket. This is a good game for a pool to play. That's probably one of the reasons the tickets are selling so fast.

Comment #1

DoubleDown — Wed, 15 Nov 2006 17:00:36 GMT

Georgia is doing the same game starting this Sunday the 19th...But I think that the number of prizes are less in Ga that Michigan.

This is an interesting game, in the sense we can do some math and see what the lottery's profit will be from it.

Looks like over 3 million..

not bad.... for them.

DD

Michigan Lottery starts Millionaire Raffle game

Lottery Post — Wed, 15 Nov 2006 16:47:45 GMT

Popular tickets will likely sell out in just 10 days

If you play by the odds, check these out: The Michigan Lottery is offering a 1 in 100,000 chance to become a millionaire.

That's better than your shot at winning Classic Lotto (1 in 10.7 million) and way better than your chance of taking home the Mega Millions jackpot (1 in 175 million).

Heck, it's better than the odds of being struck by lightning next year (1 in 400,000).

These are the best odds we've ever offered on any lottery... [ More ]