|Posted: June 17, 2011, 8:57 pm - IP Logged|
Hi all. I am SURE this has been asked countless times, but it seems as though I cannot find it (via Google or forum search). I am trying to figure out Idaho Lottery's 'best bet'. I don't care how much the jackpot is. I just want to know what the best payout for the least invested is. I guess it would be a ratio.
Say, for instance, I buy a $1 pull-tab with a jackpot of $300, that only 2 people win. But, the chances of winning that $300 jackpot is better than playing, say, the PowerBall. However, the odds of winning $300 in the PowerBall may be better and more cost-efficient. I simply do not know.
I am not great with math, so this is where y'all number crunchers come in. Ha.
If anyone could help, that'd be great. :)
The odds against winning $100 in PB is 13,644 to 1 and that's by matching 3 numbers plus the bonus ball. If you're trying to match 4 numbers to win $100 it's 19,030 to 1 odds. To win $300, you'll need an 3 of those hits. I'm not sure if there is a game with worse odds than PB.
The odds against winning $300 in most pick-3 games is 999 to 1 playing a 50 cent straight/box ticket. As for scratch-offs and pull tabs, check the state lottery website and see the odds against winning $300. Most $1 scratch-offs have top prizes of $500 and up and the odds against are usually much higher than 1000 to 1.
The Idaho site lists their pull tab odds as a chance to win any prize but considering the amount of prizes in each box and the payoff percentages, the odds against winning $300 is probably much higher.