Welcome Guest
Log In | Register )
You last visited December 9, 2016, 12:40 am
All times shown are
Eastern Time (GMT-5:00)

The payout on matching 4/5 on michigans Fantasy 5 is too LOW!

Topic closed. 8 replies. Last post 8 years ago by Bradly_60.

Page 1 of 1
PrintE-mailLink
Avatar
Michigan
United States
Member #59293
March 12, 2008
121 Posts
Offline
Posted: August 8, 2008, 2:53 am - IP Logged

I mean you match 4 OUT OF 5 NUMBERS just to win 100 bucks(not even enough for gas for a week), when just one more number you wouldve hit at least for a 100 grand.

how many agree with me? it should be 500 bucks at least.

    Todd's avatar - Cylon 2.gif
    Chief Bottle Washer
    New Jersey
    United States
    Member #1
    May 31, 2000
    23273 Posts
    Online
    Posted: August 8, 2008, 8:58 am - IP Logged

    <Moved to Pick 5 forum>

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

      Littleoldlady's avatar - basket
      Clarksville
      United States
      Member #487
      July 15, 2002
      17638 Posts
      Offline
      Posted: August 8, 2008, 7:04 pm - IP Logged

      I think it should be at least 1,000.00

      If you know your number is going to hit, have patience and then KILL IT!

      You never know when you will get another hit.

        JonnyBgood07's avatar - Patriots logo1.jpg
        Connecticut
        United States
        Member #61623
        May 29, 2008
        20581 Posts
        Offline
        Posted: August 8, 2008, 7:08 pm - IP Logged

        I agree...a thousand seems fair.In CT you only get $300.There's waaaay too much of a gap between that and100,000

          JAP69's avatar - alas
          South Carolina
          United States
          Member #6
          November 4, 2001
          8790 Posts
          Offline
          Posted: August 8, 2008, 7:09 pm - IP Logged

          I mean you match 4 OUT OF 5 NUMBERS just to win 100 bucks(not even enough for gas for a week), when just one more number you wouldve hit at least for a 100 grand.

          how many agree with me? it should be 500 bucks at least.

          Lower tier prizes in jackpot games have always been horrible.

          That is why I like the new quinto game that is coming to Pa. $50,000 with many other play options.
           

          MAGA

            RJOh's avatar - chipmunk
            mid-Ohio
            United States
            Member #9
            March 24, 2001
            19830 Posts
            Offline
            Posted: August 8, 2008, 8:22 pm - IP Logged

                      MI       OH
            Match 5   JACKPOT  JACKPOT
            Match 4   $100     $300
            Match 3   $10      $10
            Match 2   $1       $1

             MATCH    ODDS           WINNING COMBOS   EXPECTED PAYOUTS/JACKPOT
              5/5     1 : 575757     1
              4/5     1 : 3387       170              (MI)$1700   (OH)$51000 
              3/5     1 : 103        5610                 $56100
              2/5     1 : 10         59840                $59840
             ___________________________________________________

            Both the pick5 games in Michigan and Ohio are 5/39 games.  For every $575,757 worth of ticket sold Michigan expects to payout $117,640 and Ohio expect to payout $166,940 in lower tier prizes, so if the states keep half of sales for themselves and expenses, MI can expect to have an ave. JP of $170,239 and OH can expect to have an ave. JP of $120,939

            As long as  it takes those size jackpots to attract players at those odds, you really can't expect the lower tier prizes to be much more unless the states stop using lotteries to raise money.

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

              Avatar
              Kentucky
              United States
              Member #32652
              February 14, 2006
              7314 Posts
              Offline
              Posted: August 9, 2008, 11:37 am - IP Logged

                        MI       OH
              Match 5   JACKPOT  JACKPOT
              Match 4   $100     $300
              Match 3   $10      $10
              Match 2   $1       $1

               MATCH    ODDS           WINNING COMBOS   EXPECTED PAYOUTS/JACKPOT
                5/5     1 : 575757     1
                4/5     1 : 3387       170              (MI)$1700   (OH)$51000 
                3/5     1 : 103        5610                 $56100
                2/5     1 : 10         59840                $59840
               ___________________________________________________

              Both the pick5 games in Michigan and Ohio are 5/39 games.  For every $575,757 worth of ticket sold Michigan expects to payout $117,640 and Ohio expect to payout $166,940 in lower tier prizes, so if the states keep half of sales for themselves and expenses, MI can expect to have an ave. JP of $170,239 and OH can expect to have an ave. JP of $120,939

              As long as  it takes those size jackpots to attract players at those odds, you really can't expect the lower tier prizes to be much more unless the states stop using lotteries to raise money.

              The payoff percentage in Ohio is about 10% of the odds on all three lower tier prizes. I agree winning $100 for matching 4 of 5 is terrible, but people play because of the large jackpots and smaller second tier prizes help to create larger jackpots. On average, the Michigan jackpots are about 25% higher than in Ohio and not very many jackpot winners will care about the second prize being much lower.

              By the way RJ, nice chart and excellent analysis.

                ThatScaryChick's avatar - x1MqPuM
                Idaho
                United States
                Member #56506
                November 21, 2007
                6537 Posts
                Offline
                Posted: August 10, 2008, 12:13 am - IP Logged

                I aree it should be a bit higher. I think they should at least payout between $250 to $500.

                "No one remembers the person who almost climbed the mountain, only the person who eventually gets to the top."

                  Bradly_60's avatar - disney37
                  Atlantic Mine, Michigan
                  United States
                  Member #416
                  June 23, 2002
                  1614 Posts
                  Offline
                  Posted: August 17, 2008, 11:59 pm - IP Logged

                  I actually thought of this as well.  Most of the prizes are 10% of the odds.  Odds of $1 are about 1 in 10.  Odds of $10 are about 1 in 100.  The 4 of 5 numbers prize should be around $300 because the odds I believe are 1 in 3300.  I don't know why it is so low for.

                  Brad