Michigan and its insatiable appetite for cash

Reply #11

OldSchoolPa — Sun, 22 Apr 2007 22:25:07 GMT

Upper middle class people may just happen to be a bit luckier in NY, I don't know. But it doesn't surprise me that more people in NYC win any NY lottery than people in other parts of NY...in particular, NYC has 26 times more people than Buffalo...even if only 10 percent of NYC bought lottery tickets, that number would still be more than twice as many as Buffalos total population. This is nothing more than the numbers...nothing fishy.

Reply #10

Badger — Sun, 22 Apr 2007 21:43:59 GMT

$50 would be too step for me. Though the odds of winning 2 million are pretty good...much better than the lottery games.

Also, the payouts are pretty good. IF they sell all the tickets, they will take in only 12.5 million ande be paying out 8.75 million. That's a 72.9% payout. That's a lot better than the usual payout from state lotteries. Those are more around 53% of total sales.

Reply #9

Bradly_60 — Sun, 22 Apr 2007 17:19:41 GMT

Yeah but don't forget the 2 $2,000,000 winners will most likely be annuitized so the actually amount will be less. They have been pocketing 50% of sales on these raffles (which if you think about it is a rip off, how many $20 games does the lottery keep 50%?) so I would assume this one wouldn't be any less. But at least the odds are a lot better? haha

Brad

Reply #8

NoCompLotto! — Sun, 22 Apr 2007 17:01:41 GMT

I work in an auto factory - which, by our estimates, will be closing in a couple years. I guess the lottery thinks that you can find something better to spend your unemployment checks on rather than, oh, let's say, BILLS??

I said it before and I'll say it again... Count me out.

Reply #7

irondoor827 — Sun, 22 Apr 2007 07:30:33 GMT

hey I thought Ny was the lottery from hell ....they had a super raffel and it cost $20.00 per ticket and the computer drew the number ..so there would be no duplicates....no one in buffalo ny won but people from ny-city won all the big prizes...ad you know they sell 20.00 instant tickets worth millions they all go to th upper middle class and people who already have cash...the one dollar instants have $ 1.00 or 2-$dollar pri... [ More ]

Reply #6

guesser — Sun, 22 Apr 2007 07:08:53 GMT

All those unemployed auto workers gotta find a way to live - the lottery - yeah - that's it - that's the ticket

Reply #5

pumpi76 — Sat, 21 Apr 2007 23:52:14 GMT

50 X 250,000= 12,500,000.00

4,500 X 500 = 2,250,000.00

100,000 X 25= 2,500,000.00

2 X 2,000,000.00 = 4,000,000.00

2,250,000 + 2,500,000 + 4,000,000 = 8,750,000.00

12,500,000.00 - 8,750,000.00 = 3,750,000.00

They are pocketing 3 Million 750K...Almost 4 million...

They are pocketing almost the same amount the owner of a 45 floors building will pocketed here in Panama (so i've been told according to my friend Miguel that works in Construction)....

If you think... [ More ]

Reply #4

justxploring — Sat, 21 Apr 2007 23:46:41 GMT

Your signature today reminds me of a story I read in the paper about 3 years ago. A man in FL won $14 million and one of the donations he made was to the Salvation Army. He had been giving them money for years. When it was returned because the money was from gambling, the lottery winner said that he felt the person who made the decision was being sanctimonious, since the money previously accepted from his gains in the stock market wasn't questioned and, to him, that was more of a gamble than... [ More ]

Reply #3

pumpi76 — Sat, 21 Apr 2007 23:30:16 GMT

EXACTLY!!!!

I never thought i see the day of a 50$ ticket for a raffle either...We will have to see whats the projected players turn out by that i mean how many people are going to play it...

What's the difference between a raffle a lottery? anyone knows...? I think the difference is that in a raffle tickets are limited...Talking about greediness....

50 X 250,000= 12,500,000.00

If you think about it, the government the stock market are in a way some forms of lottery..... [ More ]

Reply #2

NoCompLotto! — Sat, 21 Apr 2007 23:20:54 GMT

I guess... Our last raffle, which was drawn yesterday, sold 625,000 tickets at $20 each in less than 6 days. The first one sold in 11. I guess Michigan is longing for this type of game - It's just I'm not willing to shell out $50 for a 1:55 chance to maybe win something.

My guess is that the next raffle will sell out in 2 days, maybe less.

Reply #1

RJOh — Sat, 21 Apr 2007 23:06:01 GMT

If they can sell those tickets then there must be a market for them. They aren't meant for everybody for example some people wouldn't spend $1 on a pick3 ticket with odds of 1:220 of winning $49 and others won't pay $1 for a PB or MM ticket if their jackpots are less than $50M.

Michigan and its insatiable appetite for cash

NoCompLotto! — Sat, 21 Apr 2007 22:38:56 GMT

Taken from a press release, Friday, April 20 at www.michigan.gov/lottery:

Sales for a new raffle game, Super Raffle, will begin May 7. The game will feature two prizes of $2 million each, 25 prizes of $100,000 each and 4,500 prizes of $500 each. Tickets will be $50 each and only 250,000 will be sold.

I never thought I would see the day of a $50 lottery ticket. This just goes to show you the greediness of those in charge of our beautiful lotteries.

Count me out.