|Posted: April 11, 2006, 2:19 pm - IP Logged|
It may be called a hexidecimal in mathematics but it doesnt exist in lottery pick 3's.
The state lottery pick 3 is nothing but an exact copy of an old ghetto game called "policy". Policy was a 5 cents bet at first (and millions were made a bucket of nickels at a time, so much so that The Outfit - ahem! - took it over).
After "The Outfit" took over it bacame a $1 bet to win $500 ( $450 if the middle digit was 1 - who's going to question "Guido" and who is going to go to the cops complaining about a payout in an illegal game?)
The number was derived from the last three dollar digits from the total mutual handle at a specified race track. The race tracks were rotated to prevent anyone from "loading up" on the last race and manipulating the tote board.
As has been shown here, if the digits for a pick 3 went beyond ten (0 to 9) the odds would make the game basically not worth playing.
The house "pc" is the difference between what it should pay a winner and what it actually does pay. The oods on a pick 3 are 999:1. The payout on a striaght hit is 500:1. The 499 not paid out (true odds) is the "per" on that bet for the house.
In American roulette (with a 0 and 00) there are 38 numbers on the wheel. The payout for hitting any one number straight up shouod be 37 to 1, (true odds) not the 35 to 1 that casinos pay. The 2 units not paid is the "pc" (percentage).
(Oddly, except for a couple of bets, the house edge on a roulette game is always 5.26%).