Mega Winners In Lotto

Reply #26

manzplan — Sat, 23 Jun 2007 09:14:07 GMT

they have games like that. Many Scratch Off Games are like that.

I don't play them. I want the bigger jackpot and I don't play crazy amounts of money on the lottery either.... just a few dollars for a chance to win a huge jackpot. It's what I want but I won't go broke trying to get it. I have just as much chance with one ticket as 1000

Reply #25

lacie — Mon, 04 Jun 2007 13:44:44 GMT

Thank you RJOH,again, That is just what I could'nt get through my thick skull.

My thought was that enough cash would be generated where they could have several winners and award them all 1 million dollars, as you have said.

But as they say there ain't no free ride on this bus we get ours and you get what evers left over.

Reply #24

RJOh — Mon, 04 Jun 2007 02:27:36 GMT

That's the point I've trying to make. Lacie thought states should create a game that would have several winners and award them all $1M each and I've been saying there no way to create a game with odds of that happening that would generate enough sales to make those kinds of payouts.

If you know how many tickets you can sell then you can set the odds of the game such that a number of winners will likely exists. States know they're likely to have about twelve Pick3 winners daily with odds of... [ More ]

Reply #23

justxploring — Mon, 04 Jun 2007 01:20:20 GMT

Maybe I'm not understanding the question here, but how can any random game guarantee the number of winners? Sometimes there are no winners at all and sometimes there are more than 1. A raffle is different because it already is stating there will be XXX amount of winners.

For example, last night 2 people won the Florida Lotto. Now, it's probably true that 2 QPS won because so many people played, but this could happen if the jackpot was only the minimum of $3 million. Also, someone else... [ More ]

Reply #22

RJOh — Mon, 04 Jun 2007 01:11:38 GMT

No, what I'm saying is a state can't guarantee every top winner a million dollars regardless of ticket sales. Even MegaMillions and PowerBall don't do that, they divide the jackpot among the top winners.

Besides by law states take their share first, they should never come up short.

Reply #21

pacattack05 — Mon, 04 Jun 2007 00:34:34 GMT

Checkout my latest system in the systems forum. Only play atleast one set, but working on maybe 3 or 4 sets a day, 50/50 st/bx.

For now it's only one off a lot of times, but more testing is needed. The best part is the extremely low cost. From a buck to 4 bucks.

The backtest I have to do is whether the profit exists in the long run. If I had played in the past 4 days, I would have netted $410.00, but I think that was too of a short term result.

Just check out the system .....just for th... [ More ]

Reply #20

Stack47 — Mon, 04 Jun 2007 00:33:28 GMT

Lotteries sort of act like clearing houses where they offer a starting prize, take their cut out of the money wagered and add what is left to the next draw. If you saw RJ's chart on the amounts wagered on the last big Mega Millions run, you probably noticed the money wagered in just the last 3 draws was enough to cover the jackpot.

Most state advertised lotto jackpots are actually 20 - 30 year annuities so if prize winners take the cash option, they get considerably less. Last night somebody... [ More ]

Reply #19

lacie — Mon, 04 Jun 2007 00:12:18 GMT

Pac, God only knows I'm no newywed, But Pac I'm closing in the second part, got any Idea what number is coming up? I just looked and I got 65 hows that shake out

Reply #18

pacattack05 — Mon, 04 Jun 2007 00:02:34 GMT

There's an old saying here in Southwest Florida....LOL

Either you're a newlywed, or nearly dead .

They call this place, The waiting room for God .....

Reply #17

lacie — Sun, 03 Jun 2007 23:26:18 GMT

So what your saying RJOH, is that as the lottery is played now it would be almost Impossiable to have more than 1 winner because the game would not generate enough money to pay a winner and still give the state their 50% or what ever they take to pay their expenses? Paying any more winners would put the state in the minus column.

Reply #16

justxploring — Sun, 03 Jun 2007 23:08:45 GMT

Yup! I just finished some Publix Supreme chocolate I bought that was on sale at 2 for $6. I bought one 1/2 gallon for $3. I didn't buy the cones! However, have you gone to an ice cream parlor lately? I almost dropped to the floor when I went to a local homemade ice cream shoppe. I went from the small to the kiddie size a couple of years ago, but now I think I'll have to wait until my next birthday! Still, the Royal Scoop has the best ice cream in town.

BTW, I admit I've always been... [ More ]

Reply #15

RJOh — Sun, 03 Jun 2007 22:51:03 GMT

It's no different than treating yourself to an ice cream cone (except where can you find an ice cream cone these days for under $3?)

Here in Ohio, Wal-Mart sells a gallon of ice cream for $5 and a box of cones for $1.50, that less than 50 a cone if you're willing to fix it your self.

Reply #14

justxploring — Sun, 03 Jun 2007 22:35:42 GMT

Thank you, Stack47. That's correct. Many people who move here have saved for many years to buy their retirement homes. However, I really didn't mean to make this thread subjective. I was only referring to the number of winners in FL who are over 60 since Lacie said that she believed seniors don't play as much, being on fixed incomes. Judging from all the news releases, it's apparent that senior citizens play quite a bit. In a way we're all on fixed incomes unless we get better jobs, rais... [ More ]

Reply #13

Stack47 — Sun, 03 Jun 2007 22:02:36 GMT

Well I'm glad that where you live all the old folks have the money, but you come up to my neighborhood and for some reason there's not a millionaire on my street.

I know many retired people that have winter homes in Florida and are far from being Millionaires. They probably used the majority of their nest egg to purchase their Florida home and are free of house payments so their spending habits are the same whether they are there or in Ohio.

Just-ex isn't saying all the old folks in Flo... [ More ]

Reply #12

RJOh — Sun, 03 Jun 2007 21:32:31 GMT

Getting upset doesn't change the fact that for every dollar paid out in lotteries prizes, states need to collect two. Even when they give back 50% of sales to the players in prizes they still have to pay the stores that sell the tickets, the staff that manage the game and maintain the playing equipment and make a profit too.

For every player who wins a million dollars there has to be enough players willing to spend two million dollars to win nothing, states can't give out more money than p... [ More ]

Reply #11

justxploring — Sun, 03 Jun 2007 21:18:11 GMT

Lacie, I wasn't bickering. I don't think stating facts is bickering. Also, I am not disagreeing with your point of view because a point of view is different from a fact based on actual events. In other words, if you said the President of the United State was Mickey Mouse, I'd have to disagree with you (although I sometimes think he's pretty Goofy! lol) You are admitting that you never looked it up when I said that many of the winners here are over 65. I didn't run to the FL site to make... [ More ]

Reply #10

lacie — Sun, 03 Jun 2007 20:05:42 GMT

Well I certainly did not mean to attack you. but Quite honestly that was my exact thought when you said where I live they have most of the money well that certainly sounded snobish to me.

You are probably 1000 percent right that many winners are in their 70's and 80's. I don't know because I never looked it up.

We may totally disagree with each others point of view and thats fine because that is why we live in this country.

So if I caused you any Grief I am very sorry, I would like to... [ More ]

Reply #9

justxploring — Sun, 03 Jun 2007 19:45:45 GMT

Sorry to everyone about the long post. I was having trouble with the fonts and I meant to highlight all of the quotes from the FL web site in red. I ran out of time! LOL

Anyway, I stopped at the above examples, because I think I made my point. Just using percentages, it has to be very obvious that many, many seniors buy lottery tickets. Honestly, I wasn't arguing with Lacie here. I was attacked as if I'm some kind of snob and all I was doing was disagreeing with a statement that was i... [ More ]

Reply #8

justxploring — Sun, 03 Jun 2007 19:22:30 GMT

Walk a mile in my shoes justxploring.

How do you know I haven't, Lacie? For all you know I am very ill and living on disability. I just said I disagreed with you because of FACTS. The average home in FL was selling for more than $350,000 over the past several years (much more in areas like Naples, Sarasota and Miami) and the population soared. These were not poor people who were buying second homes for that price. You must have heard of The Villages. It's one of the largest retirement co... [ More ]

Reply #7

lacie — Sun, 03 Jun 2007 18:53:15 GMT

I'm sorry everyone, I got a little upset and got away from the subject matter.

What I wanted to do and I can see that my point was missed was try to figure out how to have more than 1 winner in the lotto. 15 was not a good number to use lets not put a number on this. How can we have more jackpot winners than 1 while keeping the prize money up around a million dollars?

I would think that some how it could be done, but maybe not.

Reply #6

lacie — Sun, 03 Jun 2007 18:33:42 GMT

Well I'm glad that where you live all the old folks have the money, but you come up to my neighborhood and for some reason there's not a millionaire on my street. I'm 65 and retired and so are a lot of the other folks in my neighborhood, we don't have to go to a soup kitchen to eat but I can assure you its no cake walk to be of this age and on a fixed Income. I think I would like to come to your neighborhood and see if they have had to put their children through college, pay for our grand child... [ More ]

Reply #5

justxploring — Sun, 03 Jun 2007 18:01:56 GMT

I totally disagree with you about the older people in Florida. Where I live, they have most of the money! Do you read the press releases? There are many winners in their 70s and 80s.

Reply #4

lacie — Sun, 03 Jun 2007 17:52:35 GMT

Lottolaughs, When It gets to 50 million thats about when I start playing, before that forget it.

I think thats why you have so many early on rollovers because not that many people play for the small Jackpots. I remember years ago If you won 3 million you would be one of the richest people in town.

I think that over here in Florida you have many older people on fixed Incomes that do not play because the odds are so high that to them its just a waste of money. I think that a game like this

Reply #3

justxploring — Sun, 03 Jun 2007 17:32:00 GMT

I'm not sure what you mean, Lacie. Can you elaborate? Last night Florida Lotto was $20 million. This is a pari-mutuel state, so the jackpots are always based on the money collected from ticket sales. 2 people hit, each with a QP, which is very unusual. I wouldn't mind sharing with them and ending up with 1/3 of the pot (about $225,000 a year for 30 years)

The current Raffle tickets went on sale May 18th I believe. There are still about 830,000 tickets left out of the 1.5 million sold... [ More ]

Reply #2

RJOh — Sun, 03 Jun 2007 17:26:18 GMT

States aren't into lottery games to just give away money. States generally are willing to contribute some money to get a game started but people have to like the game enough to contribute the rest and states expected to keep 40% to 50% of sales as their share for running the games.

For payouts of fifteen $1M top prizes a state would need to raise $30M+ with ticket sales before the drawing. When multi-state lotteries PB and MM have starting jackpots of $12M and $15M (Cash ~$7M) they can onl... [ More ]

Reply #1

lottolaughs — Sun, 03 Jun 2007 16:45:28 GMT

I have said the same thing myself,let more people win instead of one! It's a GREAT idea but unfortunately BIG prize money is what brings out people's wallets. $1 Million dollars doesn't sound as enticing as $50 Million....though it does to me! I'd settle for just a mil anytime

Mega Winners In Lotto

lacie — Sun, 03 Jun 2007 16:27:51 GMT

Why can't A lottery state, Like Florida, come up with lottery Game that pays out more than 1 Grand Prize

I'm not talking about a raffle, but a lotto game, that lets say has a one time payout of 20 million dollars. Instead of just 1 prize they give out say 15- 1million dollar payouts and the other 5 milion is divided up among the lower tier winners.

The tickets would have to be numbered so everyone had an equal chance.

I ,for one, would play that game until the cows come home. As it is k... [ More ]