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40% is not enough!

Topic closed. 55 replies. Last post 11 years ago by CASH Only.

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Would you stop playing if prizes reduced?

Yes [ 20 ]  [57.14%]
No [ 9 ]  [25.71%]
Can't guess [ 6 ]  [17.14%]
Total Valid Votes [ 35 ]  
Discarded Votes [ 3 ]  

United States
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Posted: June 4, 2005, 10:11 am - IP Logged

This question asks if you would stop playing your favorite lottery game if the payout was reduced from 50% (or more) to 40%. Remember NY Lotto has a payout of only 38%-40%.

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    IL
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    Posted: June 4, 2005, 1:05 pm - IP Logged

    This question asks if you would stop playing your favorite lottery game if the payout was reduced from 50% (or more) to 40%. Remember NY Lotto has a payout of only 38%-40%.

    I'd still play I would just not play as often till the jackpots were at playable amounts. The lottery has the upper hand, if you want a chance at big bucks you have to play, people would play if the payout was 20%.

      RJOh's avatar - chipmunk
      mid-Ohio
      United States
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      Posted: June 4, 2005, 1:41 pm - IP Logged

      People who play lotteries because of their jackpot size don't care about the payout percentages.

      RJOh

       * you don't need to buy more tickets, just buy a winning ticket * 
         
                   Evil Looking       

        konane's avatar - wallace
        Atlanta, GA
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        Posted: June 4, 2005, 2:03 pm - IP Logged

        Lotteries need to follow FL's example by making payout % higher.  Greed whether expressed in higher taxes or lower lottery payouts irks people who carefully look at their return for $ spent.  Besides lotteries are a voluntary form of taxation.

        Good luck to everyone!

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          wisconsin
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          Posted: June 4, 2005, 2:06 pm - IP Logged

          NO WAY would I play..... the states "vig" is already ridiculus at 50% (PK3 & PK4 games)  I go back to my example of, suppose you had a game with only 4 numbers that cost $100 each, if you bought 2 of em you would only have a 50% chance of breaking even.... 

            Whirlwind's avatar - candle
            Pensacola Florida
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            Posted: June 4, 2005, 2:32 pm - IP Logged

            Iplay because I enjoy the challenge of trying to win. The money is a bonus. SO I would play either way. Don't get me wrong I would love a big pay out just as much as anyone, oh yeah. But I think I would keep playing.

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              New Mexico
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              Posted: June 4, 2005, 2:43 pm - IP Logged

              Lottomike:

              I'm not sure how low the payouts would have to be before I'd cease to feel grateful for them and begin feeling resentment that they weren't larger.  Thus far it hasn't happened to me, but my wins haven't been so large as to place me into that piece of the population who had so much as to not be grateful for whatever it happened to be.

              It's difficult to imagine myself feeling differently if the win was a jackpot, but I suppose I might.

              But in answer to the other part of your question, I think I would keep playing if the payouts were lower than they are.  I don't know where I would draw the line.  I'm a gambler.

              Jack

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                New Mexico
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                Posted: June 4, 2005, 3:27 pm - IP Logged

                After thinking about it a while I'll add that the bean-counter MBAs are probably working three shifts toiling over the question, trying to figure out how low they can go in payouts before people quit buying tickets.  Trying to find the exact balance between the illusion-amount they post on the billboards and what they think will inspire enough hopes in the non-winners when they read about it in the papers to keep them in the game. 

                Whatever that percentage turns out to be is probably where they'll all end up, eventually.  I doubt the concepts of 'right' and 'wrong' enters into the discussions over in the planning departments.  Abstractions of that sort aren't a prerequisite in most MBA programs.

                Jack

                 

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                  Posted: June 4, 2005, 4:14 pm - IP Logged

                  I don't really care about games with low payouts (although I care about games with higher payouts, woo-hoo!). I like NY Lotto because you get two plays for a dollar, and jackpots do get big. And even though you can't say the same for the lower payouts, it's better than nothing. Look at it half full.

                  (insert signature here)

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                    NY
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                    June 1, 2005
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                    Posted: June 4, 2005, 5:18 pm - IP Logged

                    I don't really care about games with low payouts (although I care about games with higher payouts, woo-hoo!). I like NY Lotto because you get two plays for a dollar, and jackpots do get big. And even though you can't say the same for the lower payouts, it's better than nothing. Look at it half full.

                    so if i win a 10 million dollar jackpot i only get 4mil after all taxes get taken....danm, i thought it would be about 7 mil or 6 at least.......that glass is half full alright, half full of nothing Eek 

                      Rick G's avatar - avatar 1766.jpg
                      FEMA Region V Camp #21
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                      Posted: June 4, 2005, 5:56 pm - IP Logged

                      Anything more than a 50% "vig" or "take" would be unacceptable to me.

                      Scratch-off tickets and lower-tier jackpot games payoffs "take" should be illegal.

                      I'll stick with the pick 3 and when that goes to more than 50% "take" I'll go back to the ponies with an 18% take.  Casinos are only taking 8% of your money but the volume of bets in a two-hour visit to the casino far exceeds a visit to the lottery terminal or mutuel clerk at the track.

                      Posted 4/6:  IL Pick 3 midday and evening until they hit:  555, 347 (str8).


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                        New Mexico
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                        Posted: June 4, 2005, 5:59 pm - IP Logged

                         

                         

                        so if i win a 10 million dollar jackpot i only get 4mil after all taxes get taken....danm, i thought it would be about 7 mil or 6 at least.......that glass is half full alright, half full of nothing Eek 

                        xsmega:

                        you could always tell them to keep their piddling 4 mill, go back to whatever you were doing before you won a jackpot, minus spending money on tickets.  That's the available alternative.  They own the racetrack, they own the horses and they own the dollars you spend, not to put too heavy a burden on the dollars you win until they've paid you off.

                        These folks even think of the dollars you haven't played yet as dollars they lose if you don't play, judging from the statements they make about the money they're 'losing' to casino gambling.  Lottery is a long odds-game from start to finish.

                        If we're stupid, arrogant (me), or merely wishfull enough to believe we can win, if we act on that belief by buying tickets, they've got us and they can pick the orifice.

                        Which, naturally, is why I play.  I'm arrogant enough to believe I'll win and I don't believe the cost of losing is high enough to cause me much pain.  I consider it my responsibility to make certain that's true.

                        Jack

                         

                         

                          Rick G's avatar - avatar 1766.jpg
                          FEMA Region V Camp #21
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                          Posted: June 4, 2005, 6:07 pm - IP Logged

                          Keep it cheap and you won't weep.

                          Posted 4/6:  IL Pick 3 midday and evening until they hit:  555, 347 (str8).


                            four4me's avatar - gate1
                            MD
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                            June 18, 2003
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                            Posted: June 4, 2005, 6:35 pm - IP Logged

                            I agree kinda with Rjoh people are playing to win and could care less about percentages and taxes. And if i win i'll be happy for that. It's the tax that hurts. However i will figure out a way to make the money work for me and get that which they took back some how. The point in playing is to win. I live in maryland buy the time they take local and state tax they get nearly half. So if they reduced the amount i think there would be an uprising our pay outs are allready pitifull. people have already backed of playing lots of games because of the payout structure. They are constantly having to run promotional gigs to get people to buy lottery tickets. About the only thing they got going in MD is scratchers which are there biggest sellers. Even though most of them also have lousy payouts. With the exception of the 5 and 10 dollar ones.

                            Big John says. You don't hit the number. The number hits you!!!!

                                           I'm not Big John, I'm Four4me, Big John's a friend.
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                              New Mexico
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                              Posted: June 4, 2005, 7:16 pm - IP Logged

                              Keep it cheap and you won't weep.

                              Rich:

                              That's a worthy observation. 

                              But if a person is inclined to the other side of the equation, if a person just doesn't give too much of a damn, he can bet'em high and not let himself be too disaffected if he has to stake out a soft spot of concrete under a bridge until his fortunes improve.

                              It all counts off three-score and ten and it might be he'd learn something worth knowing about this reality, sleeping under a bridge.  I'm not so sure a lot of folks couldn't learn more by sleeping in the gutter than they're likely to learn doing whatever they're doing now.

                              A country where people complain about losing a hypothetical half of a hypothetical multi-million dollar jackpot they might hypothetically win might stand to gain by having standing room only under bridges and have the crews working three shifts to build more.

                              Jack