January 7, 2007
|Posted: August 10, 2007, 6:12 pm - IP Logged|
I found the same answer when I did as Uncle Jim suggested and looked at the Hoosier website.
In case he can't find it or overlooked it this is the link:
Jim and Jeff, I haven't got a reply to my email yet, but I'm tired of waiting on it. I'm going to believe that the cash value is approximately 40-50% of the lump sum as stated on the FAQ page. If the current cash value is 60%, then I think it's a result of higher than normal ticket sales. Jeff keeps saying the payouts are low, but he doesn't know how low or high the sales were either, something you just can't do. Also, has anyone considered that the reason why there isn't a roll over after the first draw is because the sales on Hoosier Lotto just aren't high enough? The population of Indiana is approximately 6,313,520. How many of those people do you think play the Hoosier Lotto Pick 6 game the very first game? Apparently not that many. The lottery is a business, and the goal of any business is to make profit. Why raise the jackpot by $500,000 if the sales numbers are a lot lower than that? That doesn't mean that anything else isn't going on in the Hoosier Lottery that we don't know about and isn't legitimate, but I have yet to see any cold hard proof of any CURRENT wrong doing. I can only come to the conclusion that Jim and Jeff are disgruntled lottery players. Everything is just so horrible when they lose, but when they win the jackpot, retire, and live the cushy life, everything's just fine and dandy. Well Jim and Jeff, for either of you 2 that are interested, I have a MISSION for you. The Hoosier Lottery is currently hiring a computer operator. One of the duties consist of working a drawing
Computer Operator Trainee
Location: Indianapolis, IN
• Submits and monitors scheduled application processes;
• Maintains necessary supplies and equipment used in data centers;
• Performs daily operational functions such as report distribution, system and data saves, batch program processing and special request processing;
• Assists in the maintenance of system peripherals as instructed by immediate supervisor;
• Verifies Hoosier Lottery Web site is updated correctly;
• Updates the Hoosier Lottery billboard jackpots;
• Works the ICS mid-day draws when scheduled to do so;
• Performs related duties as required.
• Operations experience preferred, but not required;
• Excellent written and oral communications skills;
• Ability to work well independently and in a group with minimal supervision;
This is your chance to get on the inside! This time you can do more than just come on a lottery forum and say the Hoosier Lottery cheats. Be sure to take spy cameras and phone taps with you for more evidence.
March 24, 2001
|Posted: August 10, 2007, 8:33 pm - IP Logged|
Ohio use to have a similar conversion rate like Indiana that varied between 40%-60% of the annuity amount. It varied because the interest of the annuity investment varied much like banks CD interest rates, so they finally said its cash value was 50% of the stated jackpot value.
I've heard that its actually value is still based on the interest paid by the annuity investment but they say 50% because it's easier and only the jackpot winners really need to know for sure..
* you don't need to buy more tickets, just buy a winning ticket *
October 16, 2005
|Posted: August 11, 2007, 3:02 am - IP Logged|
"If the current cash value is 60%, then I think it's a result of higher than normal ticket sales."
The actual cash value is always directly related to ticket sales, because a percentage of sales goes to each prize level. The relative values of the cash in the prize pool and the annuity value is determined by the interest that is expected to be earned with the cash. Varying tickets sales has nothing to do with it.
"has anyone considered that the reason why there isn't a roll over after the first draw is because the sales on Hoosier Lotto just aren't high enough?"
Plenty of lotteries offer a jackpot on the first draw that can't be paid with normal ticket sales. PB starts at $15 million (annuity, of course) but it takes several rolls before the jackpot is increased by that much. The same is true for PB and NY lotto. I'm guessing it's true for plenty that I'm not aware of. Occasionally a winner on the first (or 2nd or 3rd) drawing may win more than was actually collected, but if you run a lottery you can count on probability and large numbers to result in a close correlation between ticket sales, odds, and number of winners. The majority of jackpots pay what was actually collected from sales.
July 11, 2003
|Posted: August 11, 2007, 4:25 am - IP Logged|
Back to the precise beginning topic of this thread, why the Hoosier Lotto jackpot has gotten so high.
According to my calculations, according to recent sales, on a given draw there is about a 1 in 10 chance of a jackpot winner. And it has rolled quite a bit of times, a lot more than 10. But hey, can't a game go on a long roll once in a while? Well, problem here is, it's not the first long string of rollovers for this game. Not too long ago it rolled all the way up to $28 or so million.
So why is it doing this? Well, I say, why not? Florida Lotto, way back when it was a 6/49, once hit over $100 million. Just one more number than Hoosier Lotto, and a game that put almost 15 cents less per dollar wagered into the jackpot ($0.250 v. $0.398). And we all know Florida Lotto is a perfectly honest game.
What I am trying to say here is, this long string of rollovers is not a valid argument to whether or not the Hoosier Lottery is rigged. In fact, I can't think of any evidence of blatant manipulation on the part of the Hoosier Lottery.
Now, am I saying to stop fighting? Absolutely not. Last time I checked they are still doing the draws behind closed doors with a technology that has proven to be unreliable (see CA Daily Derby, KS Pick 3). They still say 3 different things as to the cash value of the Hoosier Lotto jackpot (first 40%-50%, then a flat 40%, then 60%, what do you believe?). Honestly, I don't think they're corrupt, they're just retarded. They don't seem to know what they're doing. And I think until Uncle Jim (or myself) is named the new Executive Director, I don't expect anything to change.
December 29, 2005
|Posted: August 11, 2007, 12:02 pm - IP Logged|
I think Jimmy and Floyd are the voices of reason here in this thread and I thank both of them for their rational contributions.
I agree that a string of long roll overs in and of itself does not mean a lotto game is rigged. The point that I am trying to make is when you consider everything...a string of long roll overs...non-televised, RNG drawings...a proven history of lottery corruption...(which I have detailed ad nauseum)...a rigged scratch off game (the Foreman scandal)...a game in which advertised prizes did not exist (Cash Blast)...security lapses (until 1 year ago they didn't even ask if winners had a relative working for the lottery! Also it has been admitted that many of the security cameras and monitors in Hoosier Lottery Headquarters did not work.)...people without tickets being paid prizes (in one documented case a prize of $20,000 was paid to someone without a ticket!)...prizes paid after the expiration date...false and misleading information posted on their website...refusal to publish sales figures...awarding of bids to personal friends...game changes without public notification...different information on cash values...2 different directors resigning in scandal...class action suits filed against them...a disproportionate number of winners from one area of the state...disappearing money in the Build Indiana Fund and on and on...all of this together...leads me to conclude that the Hoosier Lottery is not an honestly run operation.
It isn't one thing...IT'S ALL OF IT!
Because of all of this taken together I believe the Hoosier Lottery is crooked. And I believe Hoosier Lottery games are fixed.
However, I could be wrong. The reality is I don't know. And truth to be told...I've been wrong before and I'll be wrong again.
Money frees you from doing things you dislike. Since I dislike doing nearly everything, money is handy. - Groucho Marx
June 2, 2005
|Posted: August 16, 2007, 2:44 pm - IP Logged|
Well, did someone win in Hoosier Lottery in the last draw? If so, what was the jackpot? If not, what is the current jackpot?
October 15, 2004
|Posted: August 16, 2007, 3:09 pm - IP Logged|
sorry jeff.tried to give this topic five stars and my vote clicked in two stars.can't change it.my fault.
good topic though.