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oklahoma cash 5 is a joke

Topic closed. 32 replies. Last post 10 years ago by okmarc.

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LOTTOMIKE's avatar - cash money.jpg
Tennessee
United States
Member #7853
October 15, 2004
11338 Posts
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Posted: September 1, 2006, 2:37 am - IP Logged

oklahoma cash 5  a  5/36 matrix game offers 25,000 dollars tax paid with no rollover jackpot and is only drawn twice a week.


    United States
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    June 5, 2002
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    Posted: September 1, 2006, 9:47 am - IP Logged

    Somewhat disappointing, since the payout will be about 48%. ALL lottery games, including NY Lotto, should have a minimum payout of 50%.

    I'm still predicting Oklahoma will be the next Hot Lotto state. HL is expanding again in November.

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      Honduras
      Member #20982
      August 29, 2005
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      Posted: September 1, 2006, 2:41 pm - IP Logged

      If they are going to put a crapy 25,000, feel they should put win for life over there...Not only OKh but MT, ID, WY, KS and OR....But Win for Life should play twice a day...I feel they should eliminate 25,000 lottery in those states....Win for Life is the best lottery for those states...Even though i favor easy lotteries, 25,000 dollars lotteries (after taxes and not before) i feel are good for Poor countries, not for the U.S....But i do favor lotteries that cost 25 cents, not matter what they payouts are....

       

       

      "if you think about it, the stock market and taxes are in a way a form of lottery.."


        United States
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        Posted: September 1, 2006, 2:44 pm - IP Logged

        I wish Oklahoma luck with its new Cash 5. But I'm not totally happy with the payout %.

          Coin Toss's avatar - shape barbed.jpg
          Zeta Reticuli Star System
          United States
          Member #30470
          January 17, 2006
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          Posted: September 1, 2006, 7:29 pm - IP Logged

          oklahoma cash 5  a  5/36 matrix game offers 25,000 dollars tax paid with no rollover jackpot and is only drawn twice a week.

          That is sad. When Illinois Litle Lotto was 5/30 it was a $200,000 top prize and aggregate for 3 and 4 matches.

          Now it's 5/39, progessive til hit starting at $100,000, but $1, $10, and $100 for 2, 3, and 4 matces.

          $25,000 for 5 /36 is an insult.  

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            Oklahoma
            United States
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            August 19, 2006
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            Posted: September 2, 2006, 4:43 am - IP Logged

            CASH only, I hope you are right about the Hot Lotto coming to Oklahoma. As you pointed out in another thread, one possible reason Kansas joined Hot Lotto is because Oklahoma joined Powerball. Oklahomans used to flock to southern Kansas border towns to buy Powerball tickets, but no more. 

              LOTTOMIKE's avatar - cash money.jpg
              Tennessee
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              Posted: September 2, 2006, 4:46 am - IP Logged

              hopefully oklahoma will get a pick 4 too in the future....

              also hot lotto is computerized not drawn with balls.

                Todd's avatar - Cylon 2.gif
                Chief Bottle Washer
                New Jersey
                United States
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                May 31, 2000
                23345 Posts
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                Posted: September 2, 2006, 8:03 am - IP Logged

                <Moved to Pick 5 forum>

                Please post in the appropriate forum ... thank you.

                  RJOh's avatar - chipmunk
                  mid-Ohio
                  United States
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                  March 24, 2001
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                  Posted: September 2, 2006, 10:39 am - IP Logged

                  oklahoma cash 5  a  5/36 matrix game offers 25,000 dollars tax paid with no rollover jackpot and is only drawn twice a week.

                  Lotteries are designed for the market they serve, it doesn't have to complete with games in the California and New York markets which are larger with denser populations.

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

                    johnph77's avatar - avatar
                    CA
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                    December 10, 2003
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                    Posted: September 2, 2006, 6:52 pm - IP Logged

                    Payout table for OK Cash 5:

                    Draw 5

                    Hit

                    Possibilities

                    Odds - 1::

                    Bet

                    Prize

                    Total

                    Percentage

                    36

                    5

                    1

                    376992.00

                    1

                    35211

                    35211

                    9.34

                     

                    4

                    155

                    2432.21

                     

                    500

                    77500

                    20.56

                     

                    3

                    4650

                    81.07

                     

                    10

                    46500

                    12.33

                     

                    2

                    44950

                    8.39

                     

                    1

                    44950

                    11.92

                     

                    1

                    157325

                    2.40

                     

                    0

                    0

                    0.00

                     

                    0

                    169911

                    2.22

                     

                    0

                    0

                    0.00

                     

                     

                    49756

                    7.58

                     

                     

                    204161

                    54.16

                     

                     

                    376992

                     

                     

                     

                     

                     

                    I'll get this posted on my website as time allows.

                    gl

                    j

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

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

                     =^.^=

                      RJOh's avatar - chipmunk
                      mid-Ohio
                      United States
                      Member #9
                      March 24, 2001
                      19891 Posts
                      Offline
                      Posted: September 2, 2006, 7:58 pm - IP Logged

                      Payout table for OK Cash 5:

                      Draw 5

                      Hit

                      Possibilities

                      Odds - 1::

                      Bet

                      Prize

                      Total

                      Percentage

                      36

                      5

                      1

                      376992.00

                      1

                      35211

                      35211

                      9.34

                       

                      4

                      155

                      2432.21

                       

                      500

                      77500

                      20.56

                       

                      3

                      4650

                      81.07

                       

                      10

                      46500

                      12.33

                       

                      2

                      44950

                      8.39

                       

                      1

                      44950

                      11.92

                       

                      1

                      157325

                      2.40

                       

                      0

                      0

                      0.00

                       

                      0

                      169911

                      2.22

                       

                      0

                      0

                      0.00

                       

                       

                      49756

                      7.58

                       

                       

                      204161

                      54.16

                       

                       

                      376992

                       

                       

                       

                       

                       

                      I'll get this posted on my website as time allows.

                      gl

                      j

                      John,

                      According to Oklahoma website the top prize is $25,000 which would reduce the percentage of payout for the top prize to 6.63% thus reducing the total percent of payout to 51.15%.

                      LottoMike,

                      OK Cash 5 pays 20.6% of the money back to match4 winners which is the highest for any state pick5 game.  You can't have it both ways (more money for the lower tier prizes and larger jackpot too).  51% total pay back is as good as it gets with any state lottery. 

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

                        Avatar

                        United States
                        Member #1826
                        July 11, 2003
                        2645 Posts
                        Offline
                        Posted: September 2, 2006, 8:37 pm - IP Logged

                        Payout table for OK Cash 5:

                        Draw 5

                        Hit

                        Possibilities

                        Odds - 1::

                        Bet

                        Prize

                        Total

                        Percentage

                        36

                        5

                        1

                        376992.00

                        1

                        35211

                        35211

                        9.34

                         

                        4

                        155

                        2432.21

                         

                        500

                        77500

                        20.56

                         

                        3

                        4650

                        81.07

                         

                        10

                        46500

                        12.33

                         

                        2

                        44950

                        8.39

                         

                        1

                        44950

                        11.92

                         

                        1

                        157325

                        2.40

                         

                        0

                        0

                        0.00

                         

                        0

                        169911

                        2.22

                         

                        0

                        0

                        0.00

                         

                         

                        49756

                        7.58

                         

                         

                        204161

                        54.16

                         

                         

                        376992

                         

                         

                         

                         

                         

                        I'll get this posted on my website as time allows.

                        gl

                        j

                        A free ticket does not equate to $1.

                        (insert signature here)

                          RJOh's avatar - chipmunk
                          mid-Ohio
                          United States
                          Member #9
                          March 24, 2001
                          19891 Posts
                          Offline
                          Posted: September 2, 2006, 9:53 pm - IP Logged

                          A free ticket does not equate to $1.

                          Since a ticket cost $1, the state would argue that a free QP is the equivalent of $1.  But in reality, the lowest cash prize the state pays is $10 for a match3 with the odds of winning of 1:81.1 which means one would need 81 of these free QP to earn $10 cash which means a free QP costs the state about 12¢ in real cash.

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

                            johnph77's avatar - avatar
                            CA
                            United States
                            Member #2987
                            December 10, 2003
                            832 Posts
                            Offline
                            Posted: September 3, 2006, 3:14 am - IP Logged

                            RJOh -

                            OK pays out the $25K "tax free". In the fine print on the OK Lottery website the value of the prize is fixed at $35,211, the amount quoted in my table, which is the amount necessary for the net prize after average federal and state taxes have been withheld.

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

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

                             =^.^=

                              Todd's avatar - Cylon 2.gif
                              Chief Bottle Washer
                              New Jersey
                              United States
                              Member #1
                              May 31, 2000
                              23345 Posts
                              Online
                              Posted: September 3, 2006, 12:26 pm - IP Logged

                              RJOh -

                              OK pays out the $25K "tax free". In the fine print on the OK Lottery website the value of the prize is fixed at $35,211, the amount quoted in my table, which is the amount necessary for the net prize after average federal and state taxes have been withheld.

                              This is mentioned in the news story.

                               

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