Why Only Lotteries rather than Drawings?

Reply #9

savagegoose — Sat, 07 Dec 2013 22:52:39 GMT

our state lotto made a new game whn they bought the new ticketting system. it was a raffle based draw, that was drawn once all the tickes where sold.

it took them an age to sell the 200k tickets. and prize sucked.

http://en.wikipedia.org/wiki/Australian_Lottery#South_Australia:_LuckySA_Lottery

they only did 1 draw and gave up on the idea.

Reply #8

Pavement — Sat, 07 Dec 2013 22:14:32 GMT

Yeah...that makes sense. I knew there had to be a reason why this idea is not being used.

Thanks again RJOh,

Mark

Reply #7

RJOh — Sat, 07 Dec 2013 22:08:10 GMT

It really doesn't matter if it's a raffle or a lottery, the prizes are never going to amount to more than 50% of ticket sales. To offer a million dollar prize, more than two million dollars worth of tickets have to be sold and I doubt if that can happen even in a week. States aren't going to put themselves in a position to lose money.

Reply #6

Pavement — Sat, 07 Dec 2013 21:59:18 GMT

Good point RJOh...Lets say its a weekly raffle and the prize amount and odds are based on how ever many raffle tickets are sold within that week so odds prize amount will vary. You are paying a premium for the odds while earning a much better chance at a large jackpot (not close to multi-state lotteries obviously).

Thanks for responding RJOh,

Mark

Reply #5

Pavement — Sat, 07 Dec 2013 21:55:52 GMT

Actually I could not find a weekly raffle offered in a state that allows for a big jackpot. Obviously the odds are much better with significant prize amounts.

I'm just thinking outloud:

Offer a daily raffle at $2 or $5 per ticket and the state keeps 25% of the revenue leaving the following odds and prize amounts with a daily guaranteed winner:

# of tix sold

100,000 $375K

250,000 $987K

500,000 $1.9 Million

1,000,000 $3.8 Million

2,000,000 $7.5 Million

5,000,000 $18.8... [ More ]

Reply #4

RJOh — Sat, 07 Dec 2013 21:46:18 GMT

It takes a month to sell 500,000 raffle tickets in the larger states, what make you think any state could sell 600,000 raffle tickets twice ever day

Reply #3

Pavement — Sat, 07 Dec 2013 21:38:59 GMT

Thanks Todd for the response. I just posted before reading your post. Many thanks for your help.

Mark

Reply #2

Pavement — Sat, 07 Dec 2013 21:37:58 GMT

I should have used the term Raffle instead of Drawing. I think many state lottery players would convert to a daily raffle with a guaranteed winner each day along with better odds:

Michigan state lottery: 1 in 10.7 Million chance to win $1 Million (no guaranteed winner)

Why not 2 daily raffles each with 600,000 raffle tickets at $2 each?: 1 in 600,000 chance to win $1 Million (guaranteed winner each day)

I think I'm missing something because I don't see why this type of game isn't being... [ More ]

Reply #1

Todd — Sat, 07 Dec 2013 21:32:14 GMT

States do offer those kinds of games. They are called Raffles. This time of year many states offer them because they make for good gifts.

Why Only Lotteries rather than Drawings?

Pavement — Sat, 07 Dec 2013 21:17:02 GMT

Hello...I am wondering why there are only state lotteries (no guaranteed winner based on fixed odds) but no state drawings (a guaranteed winner with odds based on number of entrants)? Why don't states offer a drawing such as 100,000 entries at $2 a piece that gives me a 1 in 100,000 chance to win $175,000 and guarantees a winner since it is a drawing rather than a lottery?

Another example: 1,000,000 entries at $2 a piece for a guaranteed winner at better odds than lottery to win $1.75 Mi... [ More ]