|Posted: July 7, 2007, 12:52 pm - IP Logged|
I've been wondering how many people in Indiana will waste their money on those numbers. The Hoosier Lottery will likely post record sales for their daily games today but, naturally, they'll pay out virtually nothing.
Two years ago, I spoke with a math professor at Indiana University. I asked him what the odds were that our 6/48 lotto game would reach a level of $28 million, given the following parameters:
1). The jackpot does not begin to roll over until after the third consecutive drawing with no winner;
2). the rollover is limited to $500,000 per week, regardless of ticket sales.
The odds against the pick-6 Hoosier Lotto game reaching $28 million, according to the professor, are 1.3 billion to 1.
The current Hoosier Lotto jackpot is $37 million.
This is what happens when you institute a state lottery and then neglect to provide any official oversight. In the 17 years the Hoosier Lottery has been in operation, they have never stood an audit by the state, and probably never will.
Come, Pinky; we must prepare for tomorrow night...