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Michigan and its insatiable appetite for cash

Topic closed. 11 replies. Last post 10 years ago by OldSchoolPa.

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Louisville, KY
United States
Member #15734
May 20, 2005
203 Posts
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Posted: April 21, 2007, 6:38 pm - IP Logged

Taken from a press release, Friday, April 20 at www.michigan.gov/lottery

Sales for a new raffle game, Super Raffle, will begin May 7.  The game will feature two prizes of $2 million each, 25 prizes of $100,000 each and 4,500 prizes of $500 each.  Tickets will be $50 each and only 250,000 will be sold. 

I never thought I would see the day of a $50 lottery ticket. This just goes to show you the greediness of those in charge of our beautiful lotteries.

Count me out.

    RJOh's avatar - chipmunk
    mid-Ohio
    United States
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    March 24, 2001
    19831 Posts
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    Posted: April 21, 2007, 7:06 pm - IP Logged

    If they can sell those tickets then there must be a market for them.  They aren't meant for everybody for example some people wouldn't spend $1 on a pick3 ticket with odds of 1:220 of winning $49 and others won't pay $1 for a PB or MM ticket if their jackpots are less than $50M.

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

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      Louisville, KY
      United States
      Member #15734
      May 20, 2005
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      Posted: April 21, 2007, 7:20 pm - IP Logged

      If they can sell those tickets then there must be a market for them.  They aren't meant for everybody for example some people wouldn't spend $1 on a pick3 ticket with odds of 1:220 of winning $49 and others won't pay $1 for a PB or MM ticket if their jackpots are less than $50M.

      I guess... Our last raffle, which was drawn yesterday, sold 625,000 tickets at $20 each in less than 6 days. The first one sold in 11. I guess Michigan is longing for this type of game - It's just I'm not willing to shell out $50 for a 1:55 chance to maybe win something.

       

      My guess is that the next raffle will sell out in 2 days, maybe less.

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        Honduras
        Member #20982
        August 29, 2005
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        Posted: April 21, 2007, 7:30 pm - IP Logged

        EXACTLY!!!! 

        I never thought i see the day of a 50$ ticket for a raffle either...We will have to see whats the projected players turn out by that i mean how many people are going to play it...

        What's the difference between a raffle & a lottery? anyone knows...? I think the difference is that in a raffle tickets are limited...Talking about greediness....

        50 X 250,000= 12,500,000.00

         

         

        "If you think about it, the government & the stock market are in a way some forms of lottery...."

          justxploring's avatar - villiarna
          Wandering Aimlessly
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          November 5, 2005
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          Posted: April 21, 2007, 7:46 pm - IP Logged

          EXACTLY!!!! 

          I never thought i see the day of a 50$ ticket for a raffle either...We will have to see whats the projected players turn out by that i mean how many people are going to play it...

          What's the difference between a raffle & a lottery? anyone knows...? I think the difference is that in a raffle tickets are limited...Talking about greediness....

          50 X 250,000= 12,500,000.00

           

           

          "If you think about it, the government & the stock market are in a way some forms of lottery...."

          Your signature today reminds me of a story I read in the paper about 3 years ago.  A man in FL won $14 million and one of the donations he made was to the Salvation Army.  He had been giving them money for years.  When it was returned because the money was from gambling, the lottery winner said that he felt the person who made the decision was being sanctimonious, since the money previously accepted from his gains in the stock market wasn't questioned and, to him, that was more of a gamble than spending a dollar on a game.

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            Honduras
            Member #20982
            August 29, 2005
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            Posted: April 21, 2007, 7:52 pm - IP Logged

            Taken from a press release, Friday, April 20 at www.michigan.gov/lottery

            Sales for a new raffle game, Super Raffle, will begin May 7.  The game will feature two prizes of $2 million each, 25 prizes of $100,000 each and 4,500 prizes of $500 each.  Tickets will be $50 each and only 250,000 will be sold. 

            I never thought I would see the day of a $50 lottery ticket. This just goes to show you the greediness of those in charge of our beautiful lotteries.

            Count me out.

            50 X 250,000= 12,500,000.00

            4,500 X 500 = 2,250,000.00

            100,000 X 25= 2,500,000.00

            2 X 2,000,000.00 = 4,000,000.00

             2,250,000 + 2,500,000 + 4,000,000 = 8,750,000.00

            12,500,000.00 - 8,750,000.00 = 3,750,000.00

            They are pocketing 3 Million & 750K...Almost 4 million...

            They are pocketing almost the same amount the owner of a 45 floors building will pocketed here in Panama (so i've been told according to my friend Miguel that works in Construction)....

             

             

            "If you think about it, the government & the Stock Market, are in a way some forms of lottery..."

              guesser's avatar - Lottery-017.jpg

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              Posted: April 22, 2007, 3:08 am - IP Logged

              All those unemployed auto workers gotta find a way to live - the lottery - yeah - that's it - that's the ticket !


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                April 19, 2007
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                Posted: April 22, 2007, 3:30 am - IP Logged

                Taken from a press release, Friday, April 20 at www.michigan.gov/lottery

                Sales for a new raffle game, Super Raffle, will begin May 7.  The game will feature two prizes of $2 million each, 25 prizes of $100,000 each and 4,500 prizes of $500 each.  Tickets will be $50 each and only 250,000 will be sold. 

                I never thought I would see the day of a $50 lottery ticket. This just goes to show you the greediness of those in charge of our beautiful lotteries.

                Count me out.

                hey  I  thought  Ny  was  the  lottery  from  hell  ....they  had  a super  raffel  and  it  cost  $20.00  per  ticket  and  the  computer drew the  number  ..so  there  would  be  no  duplicates....no  one  in  buffalo  ny  won  but  people  from  ny-city  won  all  the  big  prizes...ad  you  know  they  sell  20.00  instant  tickets  worth  millions  they all  go  to  th upper  middle  class  and  people  who  already  have  cash...the  one  dollar  instants  have $ 1.00  or  2-$dollar  prizes$$$$

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                  Louisville, KY
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                  May 20, 2005
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                  Posted: April 22, 2007, 1:01 pm - IP Logged

                  All those unemployed auto workers gotta find a way to live - the lottery - yeah - that's it - that's the ticket !

                  I work in an auto factory - which, by our estimates, will be closing in a couple years. I guess the lottery thinks that you can find something better to spend your unemployment checks on rather than, oh, let's say, BILLS??

                  I said it before and I'll say it again... Count me out.

                    Bradly_60's avatar - disney37
                    Atlantic Mine, Michigan
                    United States
                    Member #416
                    June 23, 2002
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                    Posted: April 22, 2007, 1:19 pm - IP Logged

                    50 X 250,000= 12,500,000.00

                    4,500 X 500 = 2,250,000.00

                    100,000 X 25= 2,500,000.00

                    2 X 2,000,000.00 = 4,000,000.00

                     2,250,000 + 2,500,000 + 4,000,000 = 8,750,000.00

                    12,500,000.00 - 8,750,000.00 = 3,750,000.00

                    They are pocketing 3 Million & 750K...Almost 4 million...

                    They are pocketing almost the same amount the owner of a 45 floors building will pocketed here in Panama (so i've been told according to my friend Miguel that works in Construction)....

                     

                     

                    "If you think about it, the government & the Stock Market, are in a way some forms of lottery..."

                    Yeah but don't forget the 2 $2,000,000 winners will most likely be annuitized so the actually amount will be less.  They have been pocketing 50% of sales on these raffles (which if you think about it is a rip off, how many $20 games does the lottery keep 50%?)  so I would assume this one wouldn't be any less.  But at least the odds are a lot better?  haha

                    Brad

                      Badger's avatar - adu50016 NorthAmericanBadger.jpg
                      Wisconsin
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                      March 27, 2003
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                      Posted: April 22, 2007, 5:43 pm - IP Logged

                      Taken from a press release, Friday, April 20 at www.michigan.gov/lottery

                      Sales for a new raffle game, Super Raffle, will begin May 7.  The game will feature two prizes of $2 million each, 25 prizes of $100,000 each and 4,500 prizes of $500 each.  Tickets will be $50 each and only 250,000 will be sold. 

                      I never thought I would see the day of a $50 lottery ticket. This just goes to show you the greediness of those in charge of our beautiful lotteries.

                      Count me out.

                      $50 would be too step for me.  Though the odds of winning 2 million are pretty good...much better than the lottery games.

                      Also, the payouts are pretty good. IF they sell all the tickets, they will take in only 12.5 million ande be paying out 8.75 million. That's a 72.9% payout.  That's a lot better than the usual payout from state lotteries.  Those are more around 53% of total sales.

                      ============

                      How can you tell if a politician is lying?

                      Answer: His lips are moving.

                        OldSchoolPa's avatar - Lottery-057.jpg
                        Gurnee, Illinois
                        United States
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                        February 12, 2007
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                        Posted: April 22, 2007, 6:25 pm - IP Logged

                        hey  I  thought  Ny  was  the  lottery  from  hell  ....they  had  a super  raffel  and  it  cost  $20.00  per  ticket  and  the  computer drew the  number  ..so  there  would  be  no  duplicates....no  one  in  buffalo  ny  won  but  people  from  ny-city  won  all  the  big  prizes...ad  you  know  they  sell  20.00  instant  tickets  worth  millions  they all  go  to  th upper  middle  class  and  people  who  already  have  cash...the  one  dollar  instants  have $ 1.00  or  2-$dollar  prizes$$$$

                        Upper middle class people may just happen to be a bit luckier in NY, I don't know.  But it doesn't surprise me that more people in NYC win any NY lottery than people in other parts of NY...in particular, NYC has 26 times more people than Buffalo...even if only 10 percent of NYC bought lottery tickets, that number would still be more than twice as many as Buffalos total population.  This is nothing more than the numbers...nothing fishy.

                        Get MONEY!!! Winning a JACKPOT lottery is all the HOPE and CHANGE I desire!!!  NOW give me MONEY!US Flag

                        The guy who won the presidency in 2008 really won the lottery...he is now millions richer, travels in first class style, and even has a staff that would be the envy of the richest Powerball winner (she has a staff of 2). Every night he goes to sleep, he probably plays the close of Dave Chappelle's Show: I'm rich beyatch!