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here are the odds and stats for the other 20 dollar ticket cash spectacular

Topic closed. 1 reply. Last post 4 years ago by mathhead.

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02919
United States
Member #130125
July 7, 2012
67 Posts
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Posted: July 27, 2012, 11:34 am - IP Logged

Cash Spectacular 20 dollar ticket

odds 1:2.40

total tickets printed-761,070

total sold to date-39 percent

prizes

500,000- 2 top prizes 1 claimed

20,000- 1

500-21

100-3,500

40- 111,000

20- the rest are all 20 dollar winners.

so based on the odds, which do you think is better to play?

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    United States
    Member #130795
    July 25, 2012
    80 Posts
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    Posted: July 28, 2012, 4:34 pm - IP Logged

    Cash Spectacular 20 dollar ticket

    odds 1:2.40

    total tickets printed-761,070

    total sold to date-39 percent

    prizes

    500,000- 2 top prizes 1 claimed

    20,000- 1

    500-21

    100-3,500

    40- 111,000

    20- the rest are all 20 dollar winners.

    so based on the odds, which do you think is better to play?

    Better than what?

    I presume you refer to your question about the Rhode Island Lucky Times 20 game.  (I am not sure I am permitted to include a link to that topic, due to my newbie status.)

    You continue to post insufficient to offer a dispositive response based on mathematical analysis.  I don't know where the "fault" lies:  with you or with the information you get from the lottery folks.  I do know that the Rhode Island lottery website has a dearth of details like a breakdown table of prizes, original #wins and available #wins.  At least none that I can find.

    I can offer some generalities that might serve as counter-guidance to well-intentioned, but over-simplified comments.

    The (original) odds for the Lucky Times 20 (LT20) game was 1:3.89, whereas it was 2.40 for the Cash Spectacular (CS) game.

    Ostensibly, that means the probability of winning something is higher for CS than for LT20.

    And it means in the long run (but not always), you can expect to win something (not the same "something") more times among 30 tickets with CS than for LT20.  In particular, 11 to 14 or 12 or more times for CS v. 6 to 9 or 8 or more times for LT20.

    (In some another posting, you indicated you have bought 30 $20 tickets several times!)

    But that is based on the original odds.  You or the lottery provides insufficient information to determine the current odds.

    Besides, that does not tell the whole story.  You might want to maximize your expected return ( E(rtn) ).

    There is insufficient details in your two relevant postings here and earlier to comparte E(rtn) reliably.

    But in general, it is possible for E(rtn) for LT20 to be higher than for CS, despite the better odds for CS.


    Finally, it is possible that you can maximize your probability of winning something and/or maximize your E(rtn) by investing the same amount in many more tickets at a lesser price.

    ------

    If I were you -- in particular, if I could afford to invest $600 in scratchers repeatedly -- I would find a local statistics whiz and pay him/her to get the necessary details from the lottery and perform the necessary analysis for all games, not just the two $20 games.

    One source of a "local stat whiz" might be a community college or better nearby.  They might lurking as "tutors".  Visit the stat or math department.

    And if a stat expert ever does get credible details for the Rhode Island lottery for all current games, it would be nice if he/she or you posted those details here.  Or post a web link to those details on a RI website, if you this forum will permit it.  (Sigh, not likely, since you are a newbie to this forum, like me.)  As I said, I have been unable to stumble across myself.

    Good luck!