JP Question - Would Appreciate the Help.

Reply #4

Teddi — Tue, 30 Jul 2013 22:27:00 GMT

Thank you guys, that makes a lot of sense.

I knew that for each ticket sold they set aside a percentage to go towards paying the winners. I didn't realize they separated it after that. Though now I think about it, they would have to to prevent a scenario like the oneI was thinking.

For some reason I had thought the million dollar winners affected the JP amount and I thought Cali was the only pari mutuel state, so thought they were the only ones who would be safe.

Thank you for letting... [ More ]

Reply #3

maringoman — Tue, 30 Jul 2013 22:20:10 GMT

The answer is NO. The jackpot size is not affected by the payout of the other lower prizes when it comes to multi-state games. The state lottery has to bear the burden of paying off the lower level prizes.

Reply #2

Jon D — Tue, 30 Jul 2013 22:10:56 GMT

The Jackpot is not affected by the lower 2nd thru 9th prizes, it is a separate pool.

From all the sales of tickets, 50% of the money is reserved for payment of prizes, the rest goes to the state for funding and operating costs. That 50% is made up of 32% going to the Jackpot pool for the MUSL national prize, and 18% going to the 2nd thru 9th prize pool for the local in-state prizes.

If they don't have enough money to cover all the winners in the 2nd-9th prizes, they have to take the money... [ More ]

Reply #1

BobP — Tue, 30 Jul 2013 21:59:45 GMT

From each dollar wagered a percentage is allocated to each purpose including jackpot and lower prize tiers. I believe the lower tier prizes do not affect the jackpot, but the number of 5 number winners affects the 4 number prize amount and the number of 4 number winners affects the amount of the 3 number prize. It's like the jackpot is in one hat to be divided among jackpot winners and all the rest is in another hat divided by the lower tier prize winners.

Of course I could be wrong as no... [ More ]

JP Question - Would Appreciate the Help.

Teddi — Tue, 30 Jul 2013 21:29:51 GMT

I don't keep track of lottery questions, so if this has been asked and answered before, I apologize in advance, but with the new MM system coming out, I had a crazy (and perhaps improbably) thought.

Let's say a lottery Jackpot was at $18 million and someone won it. But because all the winning numbers were 31 and under, a bunch of people won in the second tier as well.

So we have a jackpot winner, but we also have (let's say) 6 people winning $2 million each, and another 6 people winning... [ More ]