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how would YOU change the payouts?

Topic closed. 17 replies. Last post 10 years ago by guesser.

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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: February 23, 2007, 5:56 pm - IP Logged

how would YOU change the payouts in pick 3?  how about pick 4 or pick 5?

maybe even in powerball or mega millions?

 

myself i would change the pick 3 payout for a straight to a thousand dollars

i would change a pick 4 straight to 10,000 dollars

then i would make the 4 out of 5 pay 800 dollars in pick 5

in powerball i would make the 4 out of 5 without bonus ball pay 25,000

    JAP69's avatar - alas
    South Carolina
    United States
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    November 4, 2001
    8790 Posts
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    Posted: February 23, 2007, 6:17 pm - IP Logged

    how would YOU change the payouts in pick 3?  how about pick 4 or pick 5?

    maybe even in powerball or mega millions?

     

    myself i would change the pick 3 payout for a straight to a thousand dollars

    i would change a pick 4 straight to 10,000 dollars

    then i would make the 4 out of 5 pay 800 dollars in pick 5

    in powerball i would make the 4 out of 5 without bonus ball pay 25,000

    Why change the payouts?

    Lotteries started about 20 or 30 years ago with the same payouts as they have today in the pick 3 and 4.

    What did one dollar buy back then?

    What was a weekly income back then?

    What did 500.00 buy 30 years ago.

    If you have an increase in weekly income with any job compared to 30 years ago Play $2.00 on a number to get back $1,000.00

    MAGA

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      NY
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      Member #23835
      October 16, 2005
      3475 Posts
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      Posted: February 23, 2007, 6:24 pm - IP Logged

      Do you have any clue what the odds are  in pick 3 and pick 4 or for getting 4+0 in PB? Last I checked, the lottery was designed to turn a profit, but I guess your plan is to just give money away?

        Coin Toss's avatar - shape barbed.jpg
        Zeta Reticuli Star System
        United States
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        January 17, 2006
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        Posted: February 23, 2007, 6:32 pm - IP Logged

        LOTTOMIKE

         "myself i would change the pick 3 payout for a straight to a thousand dollars

        i would change a pick 4 straight to 10,000 dollars"

        That's a nice thought but those are true odds and no entity that is in business to take bets stays in business by offering true odds.

        The only true odds available are on pass line (and Don't Pass) on casino crap tables, but you have to have the line bet to make the odds bet.  

        Many years ago the game of Faro was taken out of casinos because it was an even money bet, the house has to have an edge.

        As for how I would change any lottery game?

        I'd like to see PB and MM go to a 40-30-10 payout. Three drawings per draw day, the first winner (or winners) get 40% of the stated jackpot, the next draw winner (winners ) get 30%, the next 10%.  Create more winners at the top, no one individual (or family) really needs hundreds of millions. 

        Those who run the lotteries love it when players look for consistency in something that's designed not to have any.

        Lep

        There is one and only one 'proven' system, and that is to book the action. No matter the game, let the players pick their own losers.

          truecritic's avatar - PirateTreasure
          Michigan
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          September 24, 2005
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          Posted: February 23, 2007, 6:43 pm - IP Logged

          LOTTOMIKE puts the word FUN into Lotteries!

          I guess if the online sites can do it with $900 payouts for pick3 - following their payout schedules would be nice.

            tntea's avatar - Lottery-059.jpg

            United States
            Member #5344
            June 30, 2004
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            Posted: February 23, 2007, 6:49 pm - IP Logged

            LOTTOMIKE

             "myself i would change the pick 3 payout for a straight to a thousand dollars

            i would change a pick 4 straight to 10,000 dollars"

            That's a nice thought but those are true odds and no entity that is in business to take bets stays in business by offering true odds.

            The only true odds available are on pass line (and Don't Pass) on casino crap tables, but you have to have the line bet to make the odds bet.  

            Many years ago the game of Faro was taken out of casinos because it was an even money bet, the house has to have an edge.

            As for how I would change any lottery game?

            I'd like to see PB and MM go to a 40-30-10 payout. Three drawings per draw day, the first winner (or winners) get 40% of the stated jackpot, the next draw winner (winners ) get 30%, the next 10%.  Create more winners at the top, no one individual (or family) really needs hundreds of millions. 

            Oh... Yes.. Think of the tickets they would sell..
            Say no winner on draw... 1 or draw 2.... Still only 10% paid out......

            Have pot to roll over.  Oh yes...Sounds great..

                 OLD/Vtrac   Lottery Bible         Double Warnings      Thumbs Up TN F34/F44

              LOTTOMIKE's avatar - cash money.jpg
              Tennessee
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              Posted: February 23, 2007, 7:11 pm - IP Logged

              thanks true critic.i try to make it as fun as possible.if the lotteries were like peanut butter than my stomach would be full of lottery tickets!!

                TheGameGrl's avatar - character catafly.jpg
                A long and winding road
                United States
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                June 10, 2005
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                Posted: February 23, 2007, 7:32 pm - IP Logged

                I enjoy some of the creative ideas folks have given to this post!

                Since the question Emphasized the term "YOU", I shall take it to mean" Ones own PERSONAL opinion or Idea" and NOT that of some nah sayers. It doesnt have to be consistent at ALL with the current payouts, and that is what I like to see. Different Ideas!

                Personally I agree that Hitting 4 numbers in the Mega/PB game should payout better, 5 k is a healthy incentive! And it wouldnt break the bank for either side. 4 plus the bonus ball could be at 50k :)

                As for the Pick3/Pick4 games I like the payouts for my state . (PA). investing 50cents to win 2500 is a huge profit! (provided its a straight). So Im okay with those payouts:)

                Overall though I would like the payouts to be TOTALLY Free of Taxation. Why? Because its MY opinion and that is the way the questionaire was posed :P 

                ~~Is it true, Is it kind,Is it necessary. ~~~

                christmas holly jolly numbers: 255,303,6911, 474,477 silver:47,gold:79.

                  RJOh's avatar - chipmunk
                  mid-Ohio
                  United States
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                  March 24, 2001
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                  Posted: February 23, 2007, 7:39 pm - IP Logged

                  LOTTOMIKE puts the word FUN into Lotteries!

                  I guess if the online sites can do it with $900 payouts for pick3 - following their payout schedules would be nice.

                  If on line sites had to televise their own drawings and have them audited by the state or some independent source, they couldn't afford $900 payouts for pick3.

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

                    hypersoniq's avatar - 8ball
                    Pennsylvania
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                    April 6, 2003
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                    Posted: February 23, 2007, 7:56 pm - IP Logged

                    I would change 2 things about powerball/mega...

                    1. Withhold taxes that are actually due, not a lesser amount and then force the winners to pay estimated taxes on the balance due. Interest is not the issue, this is one trap that burns many winners.

                    2. Allow winners to remain anonymous. OR at least ban the media from the information for 1 year after the win to allow the winners time to move and erase their tracks... The ONLY people that need to know who won are the winner, the lottery organization paying the prize... and Uncle Sam. that's it! Honestly,I know what I played, I know that it wasn't me who won, after that I don't care.

                    If the 2 changes above were made, that would reduce by half the number of professionals needed to execute a smooth claim procedure.

                    I have already decided to skip having an attorney claim the prize... will still use a trust for asset protection but plan on using the forced fame to denounce the fact that people need to be paraded, putting themselves and their families at risk... should that day ever come.

                    Playing more than one ticket per game is betting against yourself.

                      guesser's avatar - Lottery-017.jpg

                      United States
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                      June 16, 2006
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                      Posted: February 23, 2007, 9:27 pm - IP Logged

                      Powerball:

                      I'd change the $7 payouts to $10, the $4 to $7, and the $3 to $4.

                      I'd also change the jackpot so if you win you can get half in cash, and half in the annuity. I know you could take all cash and do your own annuity, but there are different tax ramifications in doing that.  

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                        United States
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                        July 11, 2003
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                        Posted: February 23, 2007, 9:52 pm - IP Logged

                        how would YOU change the payouts in pick 3?  how about pick 4 or pick 5?

                        maybe even in powerball or mega millions?

                         

                        myself i would change the pick 3 payout for a straight to a thousand dollars

                        i would change a pick 4 straight to 10,000 dollars

                        then i would make the 4 out of 5 pay 800 dollars in pick 5

                        in powerball i would make the 4 out of 5 without bonus ball pay 25,000

                        Pick 3 STR paying $1,000?! You realize that's a 100% payout, the Lottery would go bankrupt doing that. As for 25K for 4 out of 5 sans the Powerball, that's a 175% payout for that division alone, not even counting the other 8 prize categories. I see what you're saying, higher payouts would be nice, but payouts that high are just not realistic.

                        The only thing that could be done is the $800 4/5 payout. A 5/39 could support that without much problem.

                        (insert signature here)

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                          United States
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                          July 11, 2003
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                          Posted: February 23, 2007, 10:03 pm - IP Logged

                          Putting less money in the jackpot, and more into the prizes we actually have a biting chance at winning. That's my take.

                          (insert signature here)


                            United States
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                            June 5, 2002
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                            Posted: February 24, 2007, 9:40 am - IP Logged

                            Putting less money in the jackpot, and more into the prizes we actually have a biting chance at winning. That's my take.

                            NY Blotto is the game that most needs a change (higher, of course) in the OVERALL payout percentage. The upcoming NY Blotto Extra will not be an improvement-trust me. Not one cent of the second dollar will go into the jackpot pool.

                              guesser's avatar - Lottery-017.jpg

                              United States
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                              June 16, 2006
                              1969 Posts
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                              Posted: February 24, 2007, 12:58 pm - IP Logged

                              I would change 2 things about powerball/mega...

                              1. Withhold taxes that are actually due, not a lesser amount and then force the winners to pay estimated taxes on the balance due. Interest is not the issue, this is one trap that burns many winners.

                              2. Allow winners to remain anonymous. OR at least ban the media from the information for 1 year after the win to allow the winners time to move and erase their tracks... The ONLY people that need to know who won are the winner, the lottery organization paying the prize... and Uncle Sam. that's it! Honestly,I know what I played, I know that it wasn't me who won, after that I don't care.

                              If the 2 changes above were made, that would reduce by half the number of professionals needed to execute a smooth claim procedure.

                              I have already decided to skip having an attorney claim the prize... will still use a trust for asset protection but plan on using the forced fame to denounce the fact that people need to be paraded, putting themselves and their families at risk... should that day ever come.

                              I agree with 1), I totally disagree with 2).

                              How do we know if the person that 'won' is not somehow connected to the lottery ?

                              Everyone should know the rules by now, and if the 1 in 146 million chance hits that you or I will be 'paraded' around, then so be it, it comes with the territory, deal with it.  If you won, you have 6 months to claim the money, that should give you ample time to do whatever you feel you need to do, as far as moving or making financial arrangements.  If your self-esteem is so low that you cannot deal with people, then just give me your money and I will play the game for you, and I will give you a percentage of whatever I win.. (sic)

                              The Lottery would be absolutely no fun if there was a 300 million dollar winner(s) and nobody knows who they are, if they are a 'rich person', a retired person, a laborer, a pool of office workers, or whatever, we kinda do need to see who wins so we can continue to think 'If it happened to them (winning) then it can happen to us'.