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Revamped PA Millionaire Raffle - This Summer

Topic closed. 4 replies. Last post 10 years ago by Stack47.

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United States
Member #1826
July 11, 2003
2645 Posts
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Posted: April 2, 2007, 12:13 am - IP Logged

There will still be 625,000 tickets sold for $20 each. But there is a whole new prize structure. There will now be 7,777 winners (for the draw date 7-7-07) among the tickets sold (compared to 760 in the previous raffle). That improves the odds of winning to about 1 in 80 (down from 1 in 833). Even the payout has gone up, albeit slightly. 51.6536% of sales will go toward prizes in the new raffle, as opposed to 50% before.

Here's the deal:

 # Of Prizes
Odds Of Winning
$1,000,000
5
1 : 125,000
$100,000
5
1 : 125,000
$1,000
200
1 : 3,125
$100
7567
1 : 82.6

Overall Odds : 1 in 80.365

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    Coin Toss's avatar - shape barbed.jpg
    Zeta Reticuli Star System
    United States
    Member #30470
    January 17, 2006
    10345 Posts
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    Posted: April 2, 2007, 2:08 pm - IP Logged

    When Illinois had their raffle I bought one ticket, sounded good. Odds are certainly better than 6/52 or MM and PB (they have to be with a $20 price tag). Illinois had 509 winners out of 500,000 tickets.

    But let's look at a state lottery raffle - in the above, 7,777 prizes out of 625,000 tickets = 0.012 4432

    Take that down to 0.012, or 12 one-thousandths and that means 12 out of every 1,000 tickets win - still trying to find one particular grain of sand at the beach.

    Maybe my numbers are wrong, I don't know... 

    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.

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      United States
      Member #1826
      July 11, 2003
      2645 Posts
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      Posted: April 2, 2007, 8:37 pm - IP Logged

      When Illinois had their raffle I bought one ticket, sounded good. Odds are certainly better than 6/52 or MM and PB (they have to be with a $20 price tag). Illinois had 509 winners out of 500,000 tickets.

      But let's look at a state lottery raffle - in the above, 7,777 prizes out of 625,000 tickets = 0.012 4432

      Take that down to 0.012, or 12 one-thousandths and that means 12 out of every 1,000 tickets win - still trying to find one particular grain of sand at the beach.

      Maybe my numbers are wrong, I don't know... 

      Yeah, you got your numbers right.

      I hear what you're saying, it's still pretty daunting odds, especially for a $20 ticket. But at least they're moving in the right direction.

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        fbird's avatar - nw archer.jpg
        White Lake,Mi
        United States
        Member #1495
        May 12, 2003
        5546 Posts
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        Posted: April 2, 2007, 8:58 pm - IP Logged

        michigans' is :

        6 of $1,000,000 ( annuitized = 20yrs @ $50,000/yr...what a joke)

        12 prizes of 100,000 ( i think cash)

        900 prizes of $1,000 ( pretty confident this is cash)

        they sold 600,000 tickets @ $20 a pop.....but won't draw until 4/20/07

        I wrote and asked the MSL about drawing earlier, because the ticket had written on it, drawing date subject to change....but was informed that, that was only if they had not sold all the tickets...not to draw any earlier if they sold out in as fast as they did....what a joke!!!!!!!!!

        VAL

        Don't walk behind me; I may not lead. Don't walk in front of me: I may not follow.

        Just walk beside me and be my friend.

                  Albert Camus

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          Kentucky
          United States
          Member #32652
          February 14, 2006
          7295 Posts
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          Posted: April 2, 2007, 9:02 pm - IP Logged

          When Illinois had their raffle I bought one ticket, sounded good. Odds are certainly better than 6/52 or MM and PB (they have to be with a $20 price tag). Illinois had 509 winners out of 500,000 tickets.

          But let's look at a state lottery raffle - in the above, 7,777 prizes out of 625,000 tickets = 0.012 4432

          Take that down to 0.012, or 12 one-thousandths and that means 12 out of every 1,000 tickets win - still trying to find one particular grain of sand at the beach.

          Maybe my numbers are wrong, I don't know... 

          You're math is sound and if you divide the total number of tickets by the winning tickets; 1 out of every 80 tickets will be a winner.

          "Odds are certainly better than 6/52 or MM and PB (they have to be with a $20 price tag). "

          You can call me a jackpot hunter because I didn't start playing the last Mega Million run until the jackpot reached $215 million. I bought 20 QPs in that draw, the next draw and 40 QPs when it was $370 million. If I can justify "winning" $12 betting $80, buying a $20 raffle ticket is probably a better bet.

          It depends on which state too because Michigan's raffle sold out in 6 days and Ohio is still selling tickets a month later.