Florida 60% payouts

Reply #9

johnph77 — Thu, 06 Apr 2006 20:30:04 GMT

Just6ntlc -

Not sure. Florida payouts on their Pick 3 and 4 games are a set amount.

When lotteries were legalized in California it was mandated that all payouts for all games played in the state were to be pari-mutuel. In essence, that means that even the Pick 3 game in CA is pari-mutuel, and the lower-tier prizes for MegaMillions are based on sales within California alone.

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Reply #8

Just6ntlc — Thu, 06 Apr 2006 18:26:11 GMT

CASH Only, this is a good question. I think the payout in Florida is somewhere between 48 and 60% currently in all games. However, all games are pari-mutuel. If they do play PB, will their payouts be pari-mutuel like CA

Reply #7

justxploring — Mon, 03 Apr 2006 22:04:27 GMT

Quote: Originally posted by CASH Only on April 3, 2006 Quote: Originally posted by justxploring on April 2, 2006 Cash, am I misunderstanding you? I once posted in response to this question that I check out the payouts every time someone claims a jackpot for MegaMoney and Lotto and they are usually 70-75% (for MegaMoney) and 55-65% (for Lotto) depending on the amount of tickets purchased. I've seen payouts for the Lotto as high as 67%, but never less than 50%..usually more. As John wrote above,... [ More ]

Reply #6

CASH Only — Mon, 03 Apr 2006 21:38:29 GMT

I'm referring to the PAYOUT percentage of money wagered (which will eventually be 60% in the FL online games), NOT the percentage of the cash value v the annuity. Sorry if I didn't make it clear.

Reply #5

ryanm — Mon, 03 Apr 2006 19:59:58 GMT

lol The MUSL will not increase its payout percentage unless all its jurisdictions agree, and it has too many that would probably not agree to it. As for Powerball's current matrix, I believe it is sufficient to include North Carolina. North Carolina will only push the population to 105 million, compared to Mega Millions' 156 million.

Reply #4

dvdiva — Mon, 03 Apr 2006 04:07:43 GMT

MUSLwould have to change the matrix if FL joined otherwise it will be years before it even breaks 200 million. Adding North Carolina will stress the current matrix enough. Currently the cash payout on the florida lottery is around 47 - 48% for the Lotto game from what I can tell. As far as MUSL paying out more forget it. Any idea that makes sense doesn't pass at MUSL.

Reply #3

justxploring — Sun, 02 Apr 2006 19:13:25 GMT

Cash, am I misunderstanding you? I once posted in response to this question that I check out the payouts every time someone claims a jackpot for MegaMoney and Lotto and they are usually 70-75% (for MegaMoney) and 55-65% (for Lotto) depending on the amount of tickets purchased. I've seen payouts for the Lotto as high as 67%, but never less than 50%..usually more. As John wrote above, the payouts are pari-mutuel including Fantasy 5 and are based upon the total revenues for that particular drawing... [ More ]

Reply #2

johnph77 — Sun, 02 Apr 2006 18:57:42 GMT

Except for Pick 3 and 4, all FL payouts on games run by the state are pari-mutuel. Pick 3 and 4 are the usual 48%-50%.

Reply #1

CASH Only — Sun, 02 Apr 2006 17:27:21 GMT

Florida Lotto $32 million for Wednesday, April 5. Maybe FL can use its very large population as leverage to get MUSL to increase the payout % for Powerball.

Florida 60% payouts

CASH Only — Sat, 01 Apr 2006 20:59:19 GMT

Does anybody know when FL is supposed to have a 60% payback on its online games? How about the current percentage? I will be driving to FL in mid-October.