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Mega Winners In Lotto

Topic closed. 26 replies. Last post 9 years ago by manzplan.

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RJOh's avatar - chipmunk
mid-Ohio
United States
Member #9
March 24, 2001
19828 Posts
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Posted: June 3, 2007, 6:51 pm - IP Logged

"It's no different than treating yourself to an ice cream cone (except where can you find an ice cream cone these days for under $3?)"

Here in Ohio, Wal-Mart sells a gallon of ice cream for $5 and a box of cones for $1.50, that less than 50¢ a cone if you're willing to fix it your self. 

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

    justxploring's avatar - villiarna
    Wandering Aimlessly
    United States
    Member #25360
    November 5, 2005
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    Posted: June 3, 2007, 7:08 pm - IP Logged

    "It's no different than treating yourself to an ice cream cone (except where can you find an ice cream cone these days for under $3?)"

    Here in Ohio, Wal-Mart sells a gallon of ice cream for $5 and a box of cones for $1.50, that less than 50¢ a cone if you're willing to fix it your self. 

    Yup!  I just finished some Publix Supreme chocolate I bought that was on sale at 2 for $6.  I bought one 1/2 gallon for $3.  I didn't buy the cones!  However, have you gone to an ice cream parlor lately?  I almost dropped to the floor when I went to a local homemade ice cream shoppe.  I went from the small to the kiddie size a couple of years ago, but now I think I'll have to wait until my next birthday!   Still, the Royal Scoop has the best ice cream in town.

    BTW, I admit I've always been a bit of an ice cream snob.  It's probably because when I was a kid my father always bought generic VAN-CHOC-STRAW and I would soak it in Hershey's syrup to get some flavor.  I can't believe I even bought Publix ice cream, but it was pretty tasty. I tried their Barney's coffee not long ago and it makes a great milkshake.  I used to only buy Ben & Jerry brand but it's a little out of my budget now.  I even buy generic coffee.  Life's a *B* isn't it?  LOL 

    I tried to cut back on paper products too, but I had to go back to the 2-ply bathroom tissue because I was starting to walk funnily. 

    LOL

      lacie's avatar - radar
      jacksonville, fl.
      United States
      Member #19655
      August 3, 2005
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      Posted: June 3, 2007, 7:26 pm - IP Logged

      So what your saying RJOH, is that as the lottery is played now it would be almost Impossiable to have more than 1 winner because the game would not generate enough money to pay a winner and still give the state their 50% or what ever they take to pay their expenses? Paying any more winners would put the state in the minus column.


        United States
        Member #17555
        June 22, 2005
        5582 Posts
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        Posted: June 3, 2007, 8:02 pm - IP Logged

        There's an old saying here in Southwest Florida....LOL

        "Either you're a newlywed, or nearly dead".

        They call this place, "The waiting room for God".....

          lacie's avatar - radar
          jacksonville, fl.
          United States
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          Posted: June 3, 2007, 8:12 pm - IP Logged

          There's an old saying here in Southwest Florida....LOL

          "Either you're a newlywed, or nearly dead".

          They call this place, "The waiting room for God".....

          Pac, God only knows I'm no newywed, But Pac I'm closing in the second part, got any Idea what number is coming up? I just looked and I got 65 hows that shake out?

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            Kentucky
            United States
            Member #32652
            February 14, 2006
            7313 Posts
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            Posted: June 3, 2007, 8:33 pm - IP Logged

            So what your saying RJOH, is that as the lottery is played now it would be almost Impossiable to have more than 1 winner because the game would not generate enough money to pay a winner and still give the state their 50% or what ever they take to pay their expenses? Paying any more winners would put the state in the minus column.

            Lotteries sort of act like clearing houses where they offer a starting prize, take their cut out of the money wagered and add what is left to the next draw. If you saw RJ's chart on the amounts wagered on the last big Mega Millions run, you probably noticed the money wagered in just the last 3 draws was enough to cover the jackpot.

            Most state advertised lotto jackpots are actually 20 - 30 year annuities so if prize winners take the cash option, they get considerably less. Last night somebody hit Ohio's Classic Lotto $14,100,000 jackpot and can get 30 annual payments of $470,000 before taxes or they can take a lump sum before taxes payoff of $7,050,000. If there are multiple jackpot winners, the jackpot ($14.1 million) is divided among them and other than extra paperwork, it makes no difference to the state lottery if there is 1 jackpot winner or 10. 

            Secondary lotto prizes are different in each state; some are fixed and some are pari-mutual so the actual percentage of the money they keep varies but all of them are close to 50%.


              United States
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              June 22, 2005
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              Posted: June 3, 2007, 8:34 pm - IP Logged

              Pac, God only knows I'm no newywed, But Pac I'm closing in the second part, got any Idea what number is coming up? I just looked and I got 65 hows that shake out?

              Checkout my latest system in the systems forum. Only play atleast one set, but working on maybe 3 or 4 sets a day, 50/50 st/bx.

              For now it's only one off a lot of times, but more testing is needed. The best part is the extremely low cost. From a buck to 4 bucks.

              The backtest I have to do is whether the profit exists in the long run. If I had played in the past 4 days, I would have netted $410.00, but I think that was too of a short term result.

              Just check out the system .....just for the heck of it....LOL

              If a set is off by just one number, it would cost 30 bucks to cover the variable for all three positions. That would produce a 50 dollar profit. That's where the testing begins.

                RJOh's avatar - chipmunk
                mid-Ohio
                United States
                Member #9
                March 24, 2001
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                Posted: June 3, 2007, 9:11 pm - IP Logged

                So what your saying RJOH, is that as the lottery is played now it would be almost Impossiable to have more than 1 winner because the game would not generate enough money to pay a winner and still give the state their 50% or what ever they take to pay their expenses? Paying any more winners would put the state in the minus column.

                No, what I'm saying is a state can't guarantee every top winner a million dollars regardless of ticket sales.  Even MegaMillions and PowerBall don't do that, they divide the jackpot among the top winners. 

                Besides by law states take their share first, they should never come up short.

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

                  justxploring's avatar - villiarna
                  Wandering Aimlessly
                  United States
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                  November 5, 2005
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                  Posted: June 3, 2007, 9:20 pm - IP Logged

                  Maybe I'm not understanding the question here, but how can any random game guarantee the number of winners?  Sometimes there are no winners at all and sometimes there are more than 1.  A raffle is different because it already is stating "there will be XXX amount of winners." 

                  For example, last night 2 people won the Florida Lotto.  Now, it's probably true that 2 QPS won because so many people played, but this could happen if the jackpot was only the minimum of $3 million.  Also, someone else could have bet these as personal numbers resulting in 3 winners.  It's unlikely that several people will win a jackpot with high odds, but it's also entirely possible.  I believe that's the whole idea of a game being "random." 

                  Please correct me if I am wrong.

                    RJOh's avatar - chipmunk
                    mid-Ohio
                    United States
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                    March 24, 2001
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                    Posted: June 3, 2007, 10:27 pm - IP Logged

                    Maybe I'm not understanding the question here, but how can any random game guarantee the number of winners?  Sometimes there are no winners at all and sometimes there are more than 1.  A raffle is different because it already is stating "there will be XXX amount of winners." 

                    For example, last night 2 people won the Florida Lotto.  Now, it's probably true that 2 QPS won because so many people played, but this could happen if the jackpot was only the minimum of $3 million.  Also, someone else could have bet these as personal numbers resulting in 3 winners.  It's unlikely that several people will win a jackpot with high odds, but it's also entirely possible.  I believe that's the whole idea of a game being "random." 

                    Please correct me if I am wrong.

                    That's the point I've trying to make.  Lacie thought states should create a game that would have several winners and award them all $1M each and I've been saying there no way to create a game with odds of that happening that would generate enough sales to make those kinds of payouts. 

                    If you know how many tickets you can sell then you can set the odds of the game such that a number of winners will likely exists. States know they're likely to have about twelve Pick3 winners daily with odds of 1:1000 if they sell 12000 tickets daily but they also know they can't afford to pay jackpots of more than $500 if they expect to keep half the ticket sales for themselves.

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

                      lacie's avatar - radar
                      jacksonville, fl.
                      United States
                      Member #19655
                      August 3, 2005
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                      Posted: June 4, 2007, 9:44 am - IP Logged

                      That's the point I've trying to make.  Lacie thought states should create a game that would have several winners and award them all $1M each and I've been saying there no way to create a game with odds of that happening that would generate enough sales to make those kinds of payouts. 

                      If you know how many tickets you can sell then you can set the odds of the game such that a number of winners will likely exists. States know they're likely to have about twelve Pick3 winners daily with odds of 1:1000 if they sell 12000 tickets daily but they also know they can't afford to pay jackpots of more than $500 if they expect to keep half the ticket sales for themselves.

                      Thank you RJOH,again, That is just what I could'nt get through my thick skull.

                      My thought was that enough cash would be generated where they could have several winners and award them all 1 million dollars, as you have said.

                      But as they say "there ain't no free ride on this bus" we get ours and you get what evers left over.

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                        Westerose
                        Canada
                        Member #52915
                        June 15, 2007
                        189 Posts
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                        Posted: June 23, 2007, 5:14 am - IP Logged

                        Why can't A lottery state, Like Florida, come up with lottery Game that pays out more than 1 Grand Prize

                        I'm not talking about a raffle, but a lotto game, that lets say has a one time payout of 20 million dollars. Instead of just 1 prize they give out say 15- 1million dollar payouts and the other 5 milion is divided up among the lower tier winners.

                        The tickets would have to be numbered so everyone had an equal chance.

                        I ,for one, would play that game until the cows come home. As it is know I never play lotto, unless, its really big, because the odds are so great against you.

                        Does anyone think this a good Idea?

                        they have games like that. Many Scratch Off Games are like that.

                         

                        I don't play them. I want the bigger jackpot and I don't play crazy amounts of money on the lottery either.... just a few dollars for a chance to win a huge jackpot.  It's what I want but I won't go broke trying to get it. I have just as much chance with one ticket as 1000

                        You live a life of abundance! You have won the lottery! Belief creates reality! Believe!