CA=pari-mutuel prizes for MM

Reply #16

dvdiva — Tue, 28 Jun 2005 06:56:31 GMT

You can bet if someone wheels all the mega numbers in WA they will get much less than 250k per number. I would hate to guess what that number would be.

Reply #15

Todd — Mon, 27 Jun 2005 16:36:05 GMT

That's because there is a misconception about how Mega Millions works. Essentially, Mega Millions is a state lottery game with a portion of the proceeds going to fund a shared jackpot. All the prizes from 2nd on down are paid by the state the ticket was bought in, using dollars from just that state. So, if New Jersey had ten 2nd place winners, the money to pay for all 10 winners would come from the money collected in the State of New Jersey, not a shared pool from the other states.If you look... [ More ]

Reply #14

danisiri — Mon, 27 Jun 2005 16:13:36 GMT

In my opinion, without the JP, there is no reason to play? If the point is to win money, there are casino games with better odds. I can get more consistency at blackjack or poker. If the point is to get a large return on the amount bet (e.g., $1 becomes $20,000), then I could see why some may play for the smaller prizes. I just do not understand how some players can drop $40, $70, or $100+ on each draw using a number system in attempts to beat the game. For some it seems it is their form

Reply #13

RJOh — Mon, 27 Jun 2005 14:27:47 GMT

MegaMillions States also have different rules for paying the retailer that sells the winning tickets. A few years ago when the BigGame(now MegaMillions) had it largest jackpot, one winner bought his ticket in Illinois and another in Michigan, they both received equal portions of the jackpot but the Illinois retailer got about $100K and the one in Michigan got $1K.

Reply #12

CASH Only — Mon, 27 Jun 2005 13:52:29 GMT

Too many people care only about the jackpot (NY players throw their money away on NY Lotto and its 38%-40% payout).

Reply #11

danisiri — Mon, 27 Jun 2005 06:56:19 GMT

Actually, I live in CA and only play the lottery for the jackpot. I really do not care about the smaller prizes and figure if I win something small, I am just getting a tax refund on the money I have put into the lottery over the years. I also only buy one $1 quickpick with the cash option per drawing, so I guess I am not the normal Lottery Post player, anyway! Yeah, the odds are slim, but if I am meant to win, then it does not matter if I play $1 or $1000 dollars - especially with the chang... [ More ]

Reply #10

DoctorEw220 — Mon, 27 Jun 2005 05:09:50 GMT

here's where pari-mutuel prizes can work in CA's favor, and against them at the same time. they have the percentages at the wrong ends. you want a smaller percentage of the prize pool at the 2nd prize, and a larger perceentage at the lower levels. that way, the lower levels get better prizes, while the 2nd prize winner doesn't get screwed. the raising of percentages for lower prizes would increase player support, since that's what the players go for. they know that their odds of hitting the j... [ More ]

Reply #9

ryanm — Sun, 26 Jun 2005 15:27:06 GMT

Oh yeah, the third case applies to my MM state, Illinois! I'll bet the only reason CA can get away with offering pari-mutuel prizes is because they have such a big population with such a high amount of expected draw sales, so CA would be expected to have a second place winner nearly every drawing.

Reply #8

RJOh — Sun, 26 Jun 2005 15:06:45 GMT

It seems like the only thing that's standard about MegaMillions lottery in all the States is the jackpot amount and the number of prize levels, other wise each state can have its own rules. California make all 9 level pari-mutuel, Texas has the multiplier and another state is offering an extra prize amount on randomly picked tickets that are winners.

Reply #7

Just6ntlc — Sun, 26 Jun 2005 08:47:58 GMT

I like pari-mutuel prizes best with higher payouts with fewer winners, but not if they win only $1 for California Super Lotto Plus for 1/5+Mega and only $1 for 0/5+Mega instead of $2 for Mega Millions.

Reply #6

ryanm — Sun, 26 Jun 2005 05:29:19 GMT

Well, pari-mutuel can go both ways. If there's less winners than statistically expected, they have to pay the same prize amount out for that level anyway, so the players get more than the fixed prize amount. When lotteries pay fixed prizes, they base them on the expected amount of players sharing in the prize pool at that level. They expect to balance higher payouts than expected with times when they get less winners than expected at that level.

Reply #5

Bradly_60 — Sat, 25 Jun 2005 18:13:21 GMT

Para-mutual prizes are a cheap out for the lottery. By doing it that way they gaurantee themselves a win every time. I mean what is wrong with letting the players win something more than 50% every now and then. (example: Michigan Evening Daily 3 for April 15, 2004 2600% of sales was the payout.) I mean what would have happened it two or three people would of matched 5 white balls in last nights drawing in Cali. Would they have gotten only 145k or 96k. I mean that would be a cheap shot. Br... [ More ]

Reply #4

RJOh — Sat, 25 Jun 2005 17:24:10 GMT

With that type of prize structure, a second place winner is a Californian player worst nightmare if it not him and even worst if he is and he's not the only one. The MegaMillions lottery will never have a payout like PowerBall when they had all those second prize winners.RJOh

Reply #3

Todd — Sat, 25 Jun 2005 17:00:44 GMT

I think CO is right about that, which would account for the lower 0+1 prize. When there's no 2nd tier winner, I'm sure we'll see a higher 0+1 prize.

Reply #2

CASH Only — Sat, 25 Jun 2005 16:02:50 GMT

ryan:I've been wondering myself. The jackpot pool is shared by the states. Most likely either 2d prize is added to 3d prize, or the entire 2d prize pool is distributed to 3d through 9th prizes.

Reply #1

ryanm — Sat, 25 Jun 2005 16:00:26 GMT

I wonder what happens if California doesn't have any second place winners. Does that prize pool roll over as well or does that get distributed to the rest of the lower tier winners

CA=pari-mutuel prizes for MM

CASH Only — Sat, 25 Jun 2005 15:56:55 GMT

The most interesting thing about California joining Mega Millions is the pari-mutuel prizes for ALL nine tiers. For example, whoever had 5/5 must be especially happy since they win $290,000+ instead of $250k. On the other hand, those who matched only the Mega Ball must feel gypped ($1).