50 cents on the dollar paid back in winnings

Reply #3

johnph77 — Mon, 25 Jan 2010 18:59:13 GMT

Pretty much so, except for the aforementioned jackpot games, which are less. Pick 3, Pick 4 and other fixed-amount games are generally geared for 50% payout percentages. Some jurisdictions up that to 60%. Rule of thumb is that 50% of wagers are returned to the players, 15% cover the cost of running the game and 35% goes to the jurisdictions as profit.

Reply #2

KY Floyd — Mon, 25 Jan 2010 00:28:10 GMT

I'm pretty sure the question is clearly asking about what percentage of the ticket cost goes back to players as prizes. About 50% has been fairly standard, though some games pay a bit more.

That's a convenient statistic, and I'll often say that your long term results will probably be losing half of your money, but that's an optimistic simplification. Smaller jackpot games may vary, but while PB and MM put about 50 cents on the dollar into the prize pool, almost 40 cents on the dollar goes tow... [ More ]

Reply #1

Coin Toss — Sun, 24 Jan 2010 23:25:37 GMT

If you're getting 50 cents on the dollar from comparing cash option to annuity, that's not how it works.

There was a thread about this once and the way it works is the advertised amount does not exist. That amount is what the annuity would pay over a specified number of years.

50 cents on the dollar paid back in winnings

WilliamJohns — Sun, 24 Jan 2010 22:20:54 GMT

Do all the lottery games pretty much pay back 50 cents for each dollar taken in