IL $20 50X The Cash Ticket Statement of Odds

Reply #2

Jon D — Tue, 28 May 2013 01:07:12 GMT

It's actually quite common for odds (against) to be less than the prize on higher denomination scratch tickets.

You have to factor in the increased wager value (ticket price) like $20 tickets have into the equation. So the odds could be several times lower than the prize, up to denomination / 2 times, but typically just a few times lower. Like may $20 games have 1-in-30 odds for $100 prize, etc.

Reply #1

Romancandle — Mon, 27 May 2013 19:24:49 GMT

Yeah, that doesn't seem right. If so, that's the best odds I've ever seen on a JP prize for a scratcher ticket in IL.

It is a $20 ticket though...

$10 Good Life JP is 1 in 6,600,000... annuitized amount over 20yrs would net $10,400,000... so the odds could be right for the 50X ticket. That ticket costs twice and much as the GL and the JP is less than half of the GL JP... just guessing here though.

IL $20 50X The Cash Ticket Statement of Odds

Coin Toss — Fri, 24 May 2013 19:39:43 GMT

From thre back of the ticket:Statement of Approximate Odds:

(Top prize)

$4,000,000* 1 in 2,000,000 ..................... HUH? (My comment)

*The $4,000,000 Prize will be annuitized over a 20 year period. The $4,000,000 proze will be paid $200,000 a year for 20 years or as a cash option payment of $2,400,000 in lieu of annuity.

________________________________________________

Since when are the odds against less than the payout?

Something is flaky here, no