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Payout Structure

Topic closed. 17 replies. Last post 12 years ago by CASH Only.

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Greenwich, CT
United States
Member #4793
May 24, 2004
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Posted: December 9, 2004, 12:28 pm - IP Logged

My question is...NY Pick 10 and CT Cash 5 both offer prizes of $300.  The odds of winning $300 in the NY game are 1:7,384 while the odds in the CT game are 1:2,164.  That's a big difference!  I know the same story could be said about virtually every state lottery...different odds for the same prize.

Why are they so different?


    United States
    Member #379
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    Posted: December 9, 2004, 5:33 pm - IP Logged

    NY pays out less overall, especially in NY Lotto 6/59.

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      Member #1826
      July 11, 2003
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      Posted: December 11, 2004, 2:55 am - IP Logged
      Quote: Originally posted by JAG331 on December 9, 2004

      My question is...NY Pick 10 and CT Cash 5 both offer prizes of $300. The odds of winning $300 in the NY game are 1:7,384 while the odds in the CT game are 1:2,164. That's a big difference! I know the same story could be said about virtually every state lottery...different odds for the same prize.

      Why are they so different?








      And don't forget the cool kicker feature with CT Cash 5. I still like PA Cash 5 more than any other, big top prizes, and great odds! I just wish PA could provide better odds with scratch tickets.

      (insert signature here)

        Maverick's avatar - yinyang
        USA
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        Posted: December 12, 2004, 5:39 pm - IP Logged
        Quote: Originally posted by JAG331 on December 9, 2004



        My question is...NY Pick 10 and CT Cash 5 both offer prizes of $300.  The odds of winning $300 in the NY game are 1:7,384 while the odds in the CT game are 1:2,164.  That's a big difference!  I know the same story could be said about virtually every state lottery...different odds for the same prize.

        Why are they so different?




        Sorry, I dunno why they're so different. But btw, have you ever won any prizes from NY's Pick 10? I like it but feel it's a very difficult game to win even a small prize.
          Maverick's avatar - yinyang
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          Posted: December 12, 2004, 5:41 pm - IP Logged
          Quote: Originally posted by CASH Only on December 9, 2004


          NY pays out less overall, especially in NY Lotto 6/59.




          I agree with you CASH. The odds suck for the lower prizes. I think people still play cos the jackpot is sometimes higher than Mega Millions, when Mega Millions starts a new $10 million jackpot. Also it's two games for a buck, which I'm sure people like.

          I wonder if they're gonna raise the lower prize payouts. I think I'm gonna have to lean on em lol.

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            Greenwich, CT
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            Posted: December 12, 2004, 6:19 pm - IP Logged

            I've never played Pick 10...I'll try it soon.  I like the Match Zero for $4 option!

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              Greenwich, CT
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              Posted: December 12, 2004, 9:51 pm - IP Logged

              I'm taking my first look at the Pick 10 numbers...1821 draws starting 12/13/99.  It's such a deceptive game.  80 numbers.  They draw 25% of the pool, 20 numbers, and you only have to match 10!  What could be easier??  $500,000 payout, comparable odds to CT Classic Lotto which is near $5,000,000 now.  Eh, I'll give it a try!

                Maverick's avatar - yinyang
                USA
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                Posted: December 12, 2004, 10:05 pm - IP Logged

                Here's the payout for 12/11/04



                Winning Numbers
                Matched
                PrizeNumber of
                Winners
                10$500,000.000
                9$6,000.000
                8$300.0011
                7$40.00100
                6$10.00797
                0$4.005,281



                It's kinda hard to "not" hit any numbers, which gives you $4. I haven't played a lot, but I only hit 2 or 3 numbers lol.

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                  Greenwich, CT
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                  Posted: December 12, 2004, 10:19 pm - IP Logged

                  I looked up the top payouts...it seems that in five years NY has only given out the Pick 10 top prize on 21 days, 1.15% of the time, once every three months! .  Only paid out more than a million twice...$2,659,306 on 2/12/01 -- 11-16-23-24-33-34-35-42-54-61-67-71-72-73-74-75-77-78-79-80.  Someone's 70s came up that day!  I wonder if it was one person, playing five lucky dollars on the same numbers....or five people who wish they had!!

                  Everyone else taking the top prize has won on heavy low numbers (<31) or if it was just their day to win.

                  Sounds like a nasty game to me!  I'll play tomorrow if I can get some numbers up and running. 

                    Maverick's avatar - yinyang
                    USA
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                    Posted: December 12, 2004, 10:23 pm - IP Logged
                    Quote: Originally posted by JAG331 on December 12, 2004


                    Sounds like a nasty game to me! 



                    YeaGood luck neighbor.
                      johnph77's avatar - avatar
                      CA
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                      December 10, 2003
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                      Posted: December 13, 2004, 1:33 am - IP Logged

                      Here's an anomaly about New York. Both Pick 10 and Quick Draw are Keno-based games where 10 numbers can be picked from an 80 number board. The only difference is that Quick Draw is video, Pick 10 is a daily draw.

                      The payouts for Quick Draw:





                      Bet Hits Payout Payout Pct
                       1 0 5 
                         1 0
                       2 0
                       3 0
                       4 0
                       5 2
                       6 10
                       7 45
                       8 300
                       9 5,000
                       10 100,000 60.16%



                      The payouts for Pick Ten:





                      Bet Hits Payout Payout Pct
                       1 0 4 
                         1 0
                       2 0
                       3 0
                       4 0
                       5 0
                       6 10
                       7 40
                       8 300
                       9 6,000
                       10 100,000 45.10%



                      Odds of hits in a 10-spot Keno game:



                      Hits Formula Possibilities Odds - 1::
                       0 ((20!/20!)/(0!))x((60!/50!)/(10!)) 75,394,027,566 21.84
                       1 ((20!/19!)/(1!))x((60!/51!)/(9!)) 295,662,853,200 5.57
                       2 ((20!/18!)/(2!))x((60!/52!)/(8!)) 486,137,960,550 3.39
                       3 ((20!/17!)/(3!))x((60!/53!)/(7!)) 440,275,888,800 3.74
                       4 ((20!/16!)/(4!))x((60!/54!)/(6!)) 242,559,401,700 6.79
                       5 ((20!/15!)/(5!))x((60!/55!)/(5!)) 84,675,282,048 19.44
                       6 ((20!/14!)/(6!))x((60!/56!)/(4!)) 18,900,732,600 87.11
                       7 ((20!/13!)/(7!))x((60!/57!)/(3!)) 2,652,734,400 620.68
                       8 ((20!/12!)/(8!))x((60!/58!)/(2!)) 222,966,900 7,384.47
                       9 ((20!/11!)/(9!))x((60!/59!)/(1!)) 10,077,600 163,381.37
                       10 ((20!/10!)/(10!))x((60!/60!)/(0!)) 184,756 8,911,711.18



                       

                      gl

                      john

                      Blessed Saint Leibowitz, keep 'em dreamin' down there..... 

                      Next week's convention for Psychics and Prognosticators has been cancelled due to unforeseen circumstances.

                       =^.^=

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                        Greenwich, CT
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                        Posted: December 13, 2004, 1:45 am - IP Logged

                        Johnph77,

                        You've always got great charts!  Thanks.  The Pick 10 Match 10/20/80 top prize is 500,000 though, right?  My brain is numb....I set up my spreadsheets tonight for Pick 10 and CT Classic Lotto...goin to bed.

                        I understand the basic combination formula of:




                               n!     
                          k!(n-k)!



                        So then, in Pick 10...I'm all confused...how do those formulas work?

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                          Posted: December 13, 2004, 5:06 am - IP Logged
                          Quote: Originally posted by JAG331 on December 12, 2004



                          I looked up the top payouts...it seems that in five years NY has only given out the Pick 10 top prize on 21 days, 1.15% of the time, once every three months! .  Only paid out more than a million twice...$2,659,306 on 2/12/01 -- 11-16-23-24-33-34-35-42-54-61-67-71-72-73-74-75-77-78-79-80.  Someone's 70s came up that day!  I wonder if it was one person, playing five lucky dollars on the same numbers....or five people who wish they had!!

                          Everyone else taking the top prize has won on heavy low numbers (<31) or if it was just their day to win.

                          Sounds like a nasty game to me!  I'll play tomorrow if I can get some numbers up and running. 






                          Four words for the NY Lottery bigwigs , Rollover for Pick 10.

                          (insert signature here)

                            johnph77's avatar - avatar
                            CA
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                            December 10, 2003
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                            Posted: December 13, 2004, 7:31 am - IP Logged

                            JAG331 -

                            Yep, you're absolutely right - top payout is $500,000 for the Pick 10.  That payout raises the game payout percentage to 49.59%. I'll have to edit that when I redo the page. Thanks for the info.

                            The formula you cite works for a regular lottery but in a game such as Keno, one has to consider not only the number of possibilities that can occur within the 20 numbers selected but also the number of possibilities that can occur in the 60 numbers not selected. What you wind up with is a compound formula, the first based on the possibilitiess falling in the selected 20, then multiplied by the possibilities in the unselected remaining 60 numbers. For more details, PM or Email me.

                            gl

                            john

                            Blessed Saint Leibowitz, keep 'em dreamin' down there..... 

                            Next week's convention for Psychics and Prognosticators has been cancelled due to unforeseen circumstances.

                             =^.^=


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                              Posted: December 13, 2004, 9:39 am - IP Logged

                              If only NY Lotto had the payout percentage of Pick-10.