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Michigan Instant Games

Topic closed. 1 reply. Last post 11 years ago by Think.

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Bradly_60's avatar - disney37
Atlantic Mine, Michigan
United States
Member #416
June 23, 2002
1614 Posts
Offline
Posted: January 4, 2006, 4:27 pm - IP Logged

I copied this text from Michgan's financial report

"

Instant games had an overall payout of 63.1% in 2005, 63.2% in 2004 and 62.8% in 2003. The games vary in payout percentage depending on selling price of a ticket for a game. Instant game prize payouts range from 50% for a $1 game to 70% for a $20 game. The decrease in instant game prize expense from 2004 to 2005 of 4.1% is directly related to the 4% reduction in instant game sales. "

I thought by law all instant games had to pay back 70%.  Am I just misinformed or is there something wrong here?

Brad

 

    Think's avatar - lightbulb
    Marquette, MI
    United States
    Member #20541
    August 20, 2005
    705 Posts
    Offline
    Posted: January 5, 2006, 11:37 am - IP Logged

    I vaguley recall that in the last 5 or 10 years Gov Engler signed a law that changed instant ticket payouts.  I believe it may have been called the "Governor Engler Ruins Scratch Off Tickets Act" ;)  I dont remember any details but I believe it changed the payouts. 

    Any way your odds of winning the top prize range from Impossible (which is virtually all of the time) to 1 in 500 or less if the packet containing the winning ticket is in the store where you are buying your ticket.

    Stick with the online games and dont worry about the scratch offs...Those are for people who buy booze and tobbaco products [they know a bad deal when they see one:) ]