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Rather win less often, but bigger prizes OR win more often, but much smaller prizes?

Topic closed. 13 replies. Last post 7 years ago by Harve$t Moon.

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Harve$t Moon's avatar - 5str

United States
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July 10, 2009
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Posted: December 26, 2009, 3:16 pm - IP Logged

What do you think?

Would you rather win less often, but bigger prizes?  I Agree!

 

OR

Would you rather win more often, but much smaller prizes?   I Agree!

 

 

 

cups of joe today  CoffeeCoffeeCoffee

 

    Million$Baby's avatar - Lottery-050.jpg
    New Member
    Chicago, Illinois
    United States
    Member #81067
    October 10, 2009
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    Posted: December 26, 2009, 3:35 pm - IP Logged

    Disclaimer: Ultimately, I'd rather win anything than lose my dough...

    However, if given the choice, I'd rather win bigger prizes. I had my first (semi-big) win a few weeks back and that felt really, really good. Hyper

    Break-even or just a few dollars over the price of the ticket makes me feel like "at least I got something" but that is still a bit of a let down.

      Harve$t Moon's avatar - 5str

      United States
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      July 10, 2009
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      Posted: December 26, 2009, 3:47 pm - IP Logged

      Disclaimer: Ultimately, I'd rather win anything than lose my dough...

      However, if given the choice, I'd rather win bigger prizes. I had my first (semi-big) win a few weeks back and that felt really, really good. Hyper

      Break-even or just a few dollars over the price of the ticket makes me feel like "at least I got something" but that is still a bit of a let down.

      Congrats, Million$Baby, on your BIG win!!!Party

      We are very happy for you!

      Please tell us about your win.

        thudpucker's avatar - animal bear.jpg
        New Member
        Bethel AL
        United States
        Member #73324
        April 11, 2009
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        Posted: December 26, 2009, 4:19 pm - IP Logged

        I've always said they should make a draw for ever $1 Million in the pot.

        The smaller stuff is just not on my Radar. Wink

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          United States
          Member #83701
          December 13, 2009
          225 Posts
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          Posted: December 26, 2009, 5:28 pm - IP Logged

          What do you think?

          Would you rather win less often, but bigger prizes?  I Agree!

           

          OR

          Would you rather win more often, but much smaller prizes?   I Agree!

           

           

           

          cups of joe today  CoffeeCoffeeCoffee

           

          That's certainly a trick question.   Were the odds the same, the bigger prize of course but that's the problem, the bigger prizes comes with worse odds and since there's a preference to win over losing then it would be the win more often but smaller prizes.   Of course, there's an entire spectrum there and the question is where on that spectrum would you be happiest.

          A while back, I rated the scratch-off games in Texas by using log base 10 on the odds against and on the prize value on the concept that for the larger odds, a difference isn't as much of a difference and likewise with prize amounts, basically I said that the rating number should be proportional to the log base 10 of the prize value but inversely proportional to the odds against so long odds make the chance less desirable, I calculated this ratio for each prize category and tallied up the sum.   This weighted the game selection towards games with a lot of prizes and to games with lower value but easier to win prizes.   The selection process picked the $5 Big Money Bingo which I played for a while but I soon tired of winning just $5, $10 and $15 most of the time and am now back to purchasing the $20 Blockbuster game.   One thing about the less expensive games, you're excluding the higher prizes, if you graphed the games with logarithmic graphs and normalized the prize value as a multiple of the ticket prize or normalized the odds to the number of tickets purchased for a given dollar amount, you'll see that they are all very similar but the more expensive games have more prize categories and have categories that extends to larger prizes.

          Whatever criteria you use to rate the games, you should still play the ones you are happiest to play and that may not be a completely logical selection.

            Coin Toss's avatar - shape barbed.jpg
            Zeta Reticuli Star System
            United States
            Member #30470
            January 17, 2006
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            Posted: December 26, 2009, 6:02 pm - IP Logged

            Harve$t Moon,

            If you're talking jackpot games, I'd rather see more jackpots hit because of games having smaller matrixes. This would produce smaller jackpots, but no individual really needs hundreds of millions.

            In fact, we've just about become numb to anything less than a record jackpot.

            Casinos, horsetracks, sports books, and lotteries can never buy the kind of publicity that they get from winners, so create more winners.

            Those who run the lotteries love it when players look for consistency in something that's designed not to have any.

            Lep

            There is one and only one 'proven' system, and that is to book the action. No matter the game, let the players pick their own losers.

              Rowen's avatar - animal eel.jpg
              Illinois
              United States
              Member #82001
              November 3, 2009
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              Posted: December 26, 2009, 6:22 pm - IP Logged

              Honestly I would be thrilled with just a $100,000 win. I can turn that into a million over time. That's why I play pick5 daily and would love to see more games like that. Maybe a multi-state version of pick 5.

               

              The prizes of the huge jackpot games are mindnumbing but so are the odds...

                ca-dreamin*'s avatar - Lottery-065.jpg
                Chicago
                United States
                Member #70678
                February 8, 2009
                889 Posts
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                Posted: December 26, 2009, 6:32 pm - IP Logged

                I'll go with choice #3 Rather win all the time LOL!

                I say win more often but smaller prizes because if you played enough you may come out ahead.

                To win less often even if it meant bigger prizes would be discouraging...what if we're talking a whole year of playing before getting a win.

                Okay we really need another choice!

                  thudpucker's avatar - animal bear.jpg
                  New Member
                  Bethel AL
                  United States
                  Member #73324
                  April 11, 2009
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                  Posted: December 26, 2009, 6:43 pm - IP Logged

                  So what's the score so far?
                  How do we see the results?

                    RJOh's avatar - chipmunk
                    mid-Ohio
                    United States
                    Member #9
                    March 24, 2001
                    19831 Posts
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                    Posted: December 26, 2009, 7:05 pm - IP Logged

                    In Ohio players can choose to win a little often or a lot once in a life time by picking the games they play.

                    pick3 - $50-$500 - 1:220 to 1:1000
                    pick4 - $100-$5000 - 1:500 to 1:10000
                    Rolling Cash5 (5/39) - $1 - $350000 - 1:10 to 1:575757
                    Classic Lotto (6/49) - $2 - $10000000 - 1:50 to 1:14000000
                    MegaMillions (5/52+1/46) - $2 - $200000000+ - 1:50 to 1:175711436

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

                      ca-dreamin*'s avatar - Lottery-065.jpg
                      Chicago
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                      February 8, 2009
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                      Posted: December 26, 2009, 7:11 pm - IP Logged

                      In Ohio players can choose to win a little often or a lot once in a life time by picking the games they play.

                      pick3 - $50-$500 - 1:220 to 1:1000
                      pick4 - $100-$5000 - 1:500 to 1:10000
                      Rolling Cash5 (5/39) - $1 - $350000 - 1:10 to 1:575757
                      Classic Lotto (6/49) - $2 - $10000000 - 1:50 to 1:14000000
                      MegaMillions (5/52+1/46) - $2 - $200000000+ - 1:50 to 1:175711436

                      Okay that's true!

                      I was thinking of the 5/39 and MM and PB! It would be nice to win those a little more often. I don't really like to mess with the pick 3 or 4 games.

                        Dollar419's avatar - Lottery-050.jpg
                        Santa Ana
                        United States
                        Member #71159
                        February 20, 2009
                        651 Posts
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                        Posted: December 26, 2009, 11:13 pm - IP Logged

                        Disclaimer: Ultimately, I'd rather win anything than lose my dough...

                        However, if given the choice, I'd rather win bigger prizes. I had my first (semi-big) win a few weeks back and that felt really, really good. Hyper

                        Break-even or just a few dollars over the price of the ticket makes me feel like "at least I got something" but that is still a bit of a let down.

                        Congratulations on your semi-big win; Danceit is more than you won previously and I totally agree with you, I rather win the big prizes also, however I am grateful to win the small oneApprove

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                          Monkey Butt, USA
                          United States
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                          August 23, 2007
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                          Posted: December 27, 2009, 1:12 pm - IP Logged

                          What do you think?

                          Would you rather win less often, but bigger prizes?  I Agree!

                           

                          OR

                          Would you rather win more often, but much smaller prizes?   I Agree!

                           

                           

                           

                          cups of joe today  CoffeeCoffeeCoffee

                           

                          I would rather win more often, but much smaller prizes.

                          EX: On PowerBall/Mega Million I would prefer to win 4/5 plus BB for $10,000 and the 3/5 plus BB for $150 more often.

                          On TX Lotto I'd like to hit 5/6 constantly. Why the lower prizes? So I would not have to make the trip to Austin and I don't have to pay taxes on any wins that are $599 or less.

                            Harve$t Moon's avatar - 5str

                            United States
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                            July 10, 2009
                            8036 Posts
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                            Posted: December 27, 2009, 4:05 pm - IP Logged

                            Thanks for your responses on this topic!!!

                            Sending everyone Money Ble$$ing$ 

                            and wishes for continous  good health,  prosperity, and peace  in the coming new year!!!

                            Blue Angel   Blue Angel   Blue Angel   Blue Angel   Blue Angel   Blue Angel   Blue Angel   Blue Angel