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Idea for Florida Lotto.

Topic closed. 17 replies. Last post 9 years ago by Just6ntlc.

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Would you add the "Lottoplier"?

Yes [ 7 ]  [26.92%]
No [ 10 ]  [38.46%]
Maybe [ 2 ]  [7.69%]
Applesauce makes my shoes squishy. [ 7 ]  [26.92%]
Total Valid Votes [ 26 ]  
Discarded Votes [ 2 ]  
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United States
Member #1826
July 11, 2003
2645 Posts
Offline
Posted: July 29, 2007, 2:09 am - IP Logged

Multiply your Florida Lotto prizes up to 4 times, for just $1 more per play!

Adding Lottoplier also adds a new way to win, a cash prize for matching 2 numbers, and that too can be multiplied. But you can only win the 2/6 prize if you add Lottoplier.

Just mark the Lottoplier box on your playslip. Adding Lottoplier will double the price of your ticket. Your ticket will have the words "Lottoplier Activated" on the bottom of the ticket if you added it. Otherwise, it will look like a typical Florida Lotto ticket.

A Lottoplier number will be drawn immediately before the Florida Lotto draw, from a machine adjacent to the Lotto drawing machine. The machine contains 3 balls, each with the numbers 2, 3, and 4.

If you match 2 out of 6, you win $1 times the Lottoplier number ($2, $3, or $4). If you match 3, 4, or 5 numbers, you win the typical prize amount multiplied by the Lottopiler number. Lottoplier does not apply to the jackpot.

Match

Typical

Florida Lotto Prize

2x

(Odds 1:3)

3x

(Odds 1:3)

4x

(Odds 1:3)

6/6
JackpotJackpot
Jackpot
Jackpot
5/6
Avg. $5,007
Avg. $10,014Avg. $15,021
Avg. $20,028
4/6
Avg. $71
Avg. $142
Avg. $213
Avg. $284
3/6
Avg. $5Avg. $10
Avg. $15
Avg. $20
2/6
$0 (N/A)
$2
$3
$4

Overall Odds with Lottoplier : 1 : 7.611

Overall Odds without Lottoplier : 1 : 67.364

(insert signature here)

    justxploring's avatar - villiarna
    Wandering Aimlessly
    United States
    Member #25360
    November 5, 2005
    4461 Posts
    Offline
    Posted: July 29, 2007, 4:18 am - IP Logged

    Nope.  I've been playing Lotto for over 12 years and I've never even gotten 5/6.  So, instead of spending $16 (I buy 4 tickets twice a week) on 8 slips, I'd rather lower my odds by purchasing 4 extra tickets instead if I chose to increase my spending. 

      LuckyLilly's avatar - savy chick.png

      United States
      Member #50124
      February 26, 2007
      601 Posts
      Offline
      Posted: July 29, 2007, 9:22 am - IP Logged

      No, I wouldn't buy it.  The best I could do is to increase a $5k winner to around $20k.  That's not a life-changing increase, therefore to me it's not worth the extra money I'd have to lay out each week.

      However, I DO buy the multiplier for Powerball, because a match 5 means the difference between $200k and $400k or even more.  The difference between even just the 2 multiplier amount is life-changing (you could actually buy a house here with the $400k after taxes, you can't buy one for the $200k after taxes) and there's a good chance that the multiplier will be even higher than 2 making the difference between having the multiplier and not having it even more lucrative. 

        auriel1's avatar - Lottery-031.jpg

        United States
        Member #40143
        May 28, 2006
        16 Posts
        Offline
        Posted: July 29, 2007, 9:27 am - IP Logged

        I voted yes only because if I hit anything it would pay more than what it pays now..and, I don't do that many tkts. anyway.


          Brazil
          Member #51781
          April 24, 2007
          384 Posts
          Offline
          Posted: July 29, 2007, 11:41 am - IP Logged

          I probably would use the Lottoplier multiplier. Sure, since I am not in Florida this could not be possible at this time. Maybe in the future.

          The odds are normal and 2/6 seems to be easier to hit!

            Avatar

            Honduras
            Member #20982
            August 29, 2005
            4715 Posts
            Offline
            Posted: July 29, 2007, 5:40 pm - IP Logged

            Nope.  I've been playing Lotto for over 12 years and I've never even gotten 5/6.  So, instead of spending $16 (I buy 4 tickets twice a week) on 8 slips, I'd rather lower my odds by purchasing 4 extra tickets instead if I chose to increase my spending. 

            I don't like to be the one to say this but megaplier is more for a easy game, something like pick3 or W.Virginia Cash25 (even though i believe W.Virginia's Cash25 is still too hard)...If you had a game that was like pick4/20 then you can put in the megaplier...I also think the idea of a megaplier should be to increase the Main Jackpot (the first prize) and not the lower prizes...I consider the megaplier a rip off, a new invention from the lottery to suck up people's money...

             

            "The Truth is Out There"...          from movie "The X-Files"

              Avatar
              Coastal Georgia
              United States
              Member #2653
              October 30, 2003
              1866 Posts
              Offline
              Posted: July 29, 2007, 6:46 pm - IP Logged

              My vote is yes- I always purchase the powerplay option on Powerball and I really like it when my winnings are multiplied.

               

                                             

                            

               

               

                RJOh's avatar - chipmunk
                mid-Ohio
                United States
                Member #9
                March 24, 2001
                19831 Posts
                Offline
                Posted: July 29, 2007, 10:53 pm - IP Logged
                Match

                Typical

                Florida Lotto Prize

                2x

                (Odds 1:3)

                3x

                (Odds 1:3)

                4x

                (Odds 1:3)

                6/6
                JackpotJackpot
                Jackpot
                Jackpot
                5/6
                Avg. $5,007
                Avg. $10,014Avg. $15,021
                Avg. $20,028
                4/6
                Avg. $71
                Avg. $142
                Avg. $213
                Avg. $284
                3/6
                Avg. $5Avg. $10
                Avg. $15
                Avg. $20
                2/6
                $0 (N/A)
                $2
                $3
                $4
                MATCH   ODDS                   WINNING COMBOS
                 6/6 1 : 22957480 1
                 5/6 1 : 81410 282
                 4/6 1 : 1416  16215
                 3/6 1 : 71 324300
                 2/6 1 : 9  2675475

                 

                 

                 

                 

                 

                When you do the math now with no multiplier for every 23M tickets sold if the jackpot is not won, they can expect to pay out $1.4M for match5, $1.2M for match4 and $0.1M for match3 leaving $20.3M which allows them to keep $11.5M for themselves minus the costs of running the lottery and contribute $8.8M to the jackpot.

                With a multiplier they would could get an extra $23M with every 23M tickets but when the multipler is 4 they would expect to pay out $5.6M for match5, $4.6M for match4, $6.5M for match3 and $10.7M for a match2 or $27.4M instead of $2.7M they did without it.  That's $24.7M of the extra $23M collected paid out in prizes.  Do you think the state would be willing to do that?

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

                  DoctorEw220's avatar - alien helmet.jpg
                  Yinzer Country, PA
                  United States
                  Member #4067
                  March 18, 2004
                  2741 Posts
                  Offline
                  Posted: July 29, 2007, 11:03 pm - IP Logged

                  It would work better if the prizes were fixed.

                  I've redone my website.  Go to www.dr-ew.com.  I kept a lot of the old stuff, and I've added some new stuff.  Look for more new stuff in the coming weeks.

                    Avatar

                    United States
                    Member #1826
                    July 11, 2003
                    2645 Posts
                    Offline
                    Posted: July 29, 2007, 11:31 pm - IP Logged
                    Match

                    Typical

                    Florida Lotto Prize

                    2x

                    (Odds 1:3)

                    3x

                    (Odds 1:3)

                    4x

                    (Odds 1:3)

                    6/6
                    JackpotJackpot
                    Jackpot
                    Jackpot
                    5/6
                    Avg. $5,007
                    Avg. $10,014Avg. $15,021
                    Avg. $20,028
                    4/6
                    Avg. $71
                    Avg. $142
                    Avg. $213
                    Avg. $284
                    3/6
                    Avg. $5Avg. $10
                    Avg. $15
                    Avg. $20
                    2/6
                    $0 (N/A)
                    $2
                    $3
                    $4
                    MATCH   ODDS                   WINNING COMBOS
                     6/6 1 : 22957480 1
                     5/6 1 : 81410 282
                     4/6 1 : 1416  16215
                     3/6 1 : 71 324300
                     2/6 1 : 9  2675475

                     

                     

                     

                     

                     

                    When you do the math now with no multiplier for every 23M tickets sold if the jackpot is not won, they can expect to pay out $1.4M for match5, $1.2M for match4 and $0.1M for match3 leaving $20.3M which allows them to keep $11.5M for themselves minus the costs of running the lottery and contribute $8.8M to the jackpot.

                    With a multiplier they would could get an extra $23M with every 23M tickets but when the multipler is 4 they would expect to pay out $5.6M for match5, $4.6M for match4, $6.5M for match3 and $10.7M for a match2 or $27.4M instead of $2.7M they did without it.  That's $24.7M of the extra $23M collected paid out in prizes.  Do you think the state would be willing to do that?

                    Yes, because the payout with a 2x would offset the loss of a 4x payout. When I did the math, it came out to a long term payout of 60.7%. They would make less money per dollar spent, but each individual ticket would still make more money. That's the theory.

                    (insert signature here)

                      DoctorEw220's avatar - alien helmet.jpg
                      Yinzer Country, PA
                      United States
                      Member #4067
                      March 18, 2004
                      2741 Posts
                      Offline
                      Posted: July 30, 2007, 12:24 am - IP Logged

                      the problem with this idea is that you are putting a fixed multiplier on non-fixed prizes.  there would be a very good chance that the prizes would exceed the money played on the draw, especially if a 4 were drawn.

                      I've redone my website.  Go to www.dr-ew.com.  I kept a lot of the old stuff, and I've added some new stuff.  Look for more new stuff in the coming weeks.

                        Avatar
                        NY
                        United States
                        Member #23835
                        October 16, 2005
                        3475 Posts
                        Offline
                        Posted: July 30, 2007, 12:49 am - IP Logged

                        Yes, because the payout with a 2x would offset the loss of a 4x payout. When I did the math, it came out to a long term payout of 60.7%. They would make less money per dollar spent, but each individual ticket would still make more money. That's the theory.

                        Do the math again. Since each multiplier has an equal chance of being drawn the average multiplier will be 3. If they collected $22,957,480 for selling that many multipliers they could expect that the average additional payout for the multiplier would then be

                        $2,823,948              282 @ $10,014

                        $2,302,530        16,215 @ $142

                        $3,243,000      324,300 @ $10 

                        $8,026,425    2,675,475 @ $3 

                        That adds up to $16,395,903, which is 71.4%  of what they would have collected. I'm guessing the lottery's theory is that a lot of the money that would be spent on a multiplier is money that won't be spent on tickets that let them keep 50%.

                          RJOh's avatar - chipmunk
                          mid-Ohio
                          United States
                          Member #9
                          March 24, 2001
                          19831 Posts
                          Offline
                          Posted: July 30, 2007, 1:19 am - IP Logged

                          Yes, because the payout with a 2x would offset the loss of a 4x payout. When I did the math, it came out to a long term payout of 60.7%. They would make less money per dollar spent, but each individual ticket would still make more money. That's the theory.

                          I thought the reason states like Florida and California offered pari-mutuel payouts was to limit their payouts based on ticket sales and number or winners for each drawing rather than losing money on one drawing and making it up on another one.

                          For example both Ohio and California are MegaMillions states but in California all prizes amounts are based on sales and the number of winners for that drawing while in Ohio the prizes are a pre-determined fixed amounts.  Ohio always pays $250K for a 5+0 and California may pay $90K-400K for a 5+0 depending on the number of winners and tickets sold.

                          Besides are there any states returning 61% of tickets sales in prizes?

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

                            Todd's avatar - Cylon 2.gif
                            Chief Bottle Washer
                            New Jersey
                            United States
                            Member #1
                            May 31, 2000
                            23275 Posts
                            Online
                            Posted: July 30, 2007, 9:12 am - IP Logged

                            <Moved to Jackpot Games forum>

                            Please post in the appropriate forum ... thank you.


                              United States
                              Member #16612
                              June 2, 2005
                              3493 Posts
                              Offline
                              Posted: August 2, 2007, 2:29 pm - IP Logged

                              My vote is yes. I hope some people win some prizes with the lottoplier.