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Ohio Classic Lotto (6/49) at $16.6M/$8.3M cash

Topic closed. 219 replies. Last post 3 years ago by RJOh.

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RJOh's avatar - chipmunk
mid-Ohio
United States
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March 24, 2001
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Posted: October 27, 2013, 10:03 pm - IP Logged

Both have 30 payouts but PB's amount is based on the price of an annunity that will payout the jackpot amount over 29 years while Ohio just has a rule that the cash value of its jackpot is half, period.

Ohio probably prefer its jackpot winners take the cash 'cause it takes more than half the jackpot amount to fund an annuity that would pay out that amount in 30 years.

If I ever win I might fool them.

 * you don't need to buy more tickets, just buy a winning ticket * 
   
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    RJOh's avatar - chipmunk
    mid-Ohio
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    Posted: November 4, 2013, 11:20 am - IP Logged

    For tonight's drawing Ohio Classic Lotto(6/49) jackpot is at $50.6M/$25.3M cash and the Rolling Cash5(5/39) is at $509K so I don't know which one to play.  Maybe I'll just play them both, it's not often that RC5 goes over a half million dollars.

     * you don't need to buy more tickets, just buy a winning ticket * 
       
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      RJOh's avatar - chipmunk
      mid-Ohio
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      Posted: November 9, 2013, 7:34 pm - IP Logged

      I didn't come up my picks for tonight drawing in time to post them on the prediction board so if I win the jackpot tonight, I'll have mixed feelings because it won't effect my prediction board average.

       * you don't need to buy more tickets, just buy a winning ticket * 
         
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        LottoMetro's avatar - Lottery-024.jpg
        Happyland
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        September 1, 2013
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        Posted: November 9, 2013, 8:00 pm - IP Logged

        I think it's the same as other lotteries where the annuity is funded based on cash amount. And since payments 2-30 are equal and not graduated, they can invest at a constant rate. $25.55 million invested at 3.333...% for 30 years gives the full $51.1 million.

        I would play both. Wish I lived closer to Ohio, I would be all over those games Big Smile

        If the chances of winning the jackpot are so slim, why play when the jackpot is so small? Your chances never change, but the potential payoff does.
        If a crystal ball showed you the future of the rest of your life, and in that future you will never win a jackpot, would you still play?

        2016: -48.28% (13 tickets) ||
        P&L % = Total Win($)/Total Wager($) - 1

          RJOh's avatar - chipmunk
          mid-Ohio
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          Posted: November 10, 2013, 1:02 am - IP Logged

          I think it's the same as other lotteries where the annuity is funded based on cash amount. And since payments 2-30 are equal and not graduated, they can invest at a constant rate. $25.55 million invested at 3.333...% for 30 years gives the full $51.1 million.

          I would play both. Wish I lived closer to Ohio, I would be all over those games Big Smile

          True, but since the winner taking the annuity gets ~1.7M anually the whole $25.5M isn't invested for the whole thirty years.

          Ohio is not the only state with a jackpot that size with those kinds of odds, there's probably a state within driving distance of you with something similar.

           * you don't need to buy more tickets, just buy a winning ticket * 
             
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            RJOh's avatar - chipmunk
            mid-Ohio
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            Posted: December 1, 2013, 11:03 am - IP Logged

            Ohio's Classic Lotto jackpot continues to roll and now it's $53.3M/$23.6M cash. 

            I was sure it would have been won by now by an increased assult of local players but the payout sizes suggest it has a fixed market of interested players.  I guess it will depend on one of them getting lucky rather than an increased number of players for it to be won.

             * you don't need to buy more tickets, just buy a winning ticket * 
               
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              NightStalker's avatar - 50logo
              East of Columbus, OH
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              Member #120843
              December 28, 2011
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              Posted: December 3, 2013, 11:09 am - IP Logged

              Ohio's Classic Lotto jackpot continues to roll and now it's $53.3M/$23.6M cash. 

              I was sure it would have been won by now by an increased assult of local players but the payout sizes suggest it has a fixed market of interested players.  I guess it will depend on one of them getting lucky rather than an increased number of players for it to be won.

              Yea, last time it got near this large, the JP went up in larger increments.  I'm hoping for an extra special Christmas present this year!

              Life's Too Short To Be Unhappy Cool

                RJOh's avatar - chipmunk
                mid-Ohio
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                Posted: December 4, 2013, 10:44 am - IP Logged

                Yea, last time it got near this large, the JP went up in larger increments.  I'm hoping for an extra special Christmas present this year!

                I don't look for the jackpot to get larger any faster than it's doing now.  Probably everyone who would be interested in playing at any amount is already buying tickets.  I'm feeling lucky so I might buy a couple of extra tickets tonight even though in the past feeling lucky just made me lose more.

                 * you don't need to buy more tickets, just buy a winning ticket * 
                   
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                  NightStalker's avatar - 50logo
                  East of Columbus, OH
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                  Posted: December 4, 2013, 1:01 pm - IP Logged

                   - even though in the past feeling lucky just made me lose more.

                  I hear you!  Just about everytime I feel like I might have picked the right numbers, I'm usually the farthest off.

                  You're probably right about anyone interested is probably already playing.  The good thing is that the MM and PB are higher which keeps some light off the OCL.  But with it over $50m, how long before more get interested.

                  Life's Too Short To Be Unhappy Cool

                    RJOh's avatar - chipmunk
                    mid-Ohio
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                    Posted: December 5, 2013, 3:05 pm - IP Logged

                     - even though in the past feeling lucky just made me lose more.

                    I hear you!  Just about everytime I feel like I might have picked the right numbers, I'm usually the farthest off.

                    You're probably right about anyone interested is probably already playing.  The good thing is that the MM and PB are higher which keeps some light off the OCL.  But with it over $50m, how long before more get interested.

                    Feeling lucky cost me an extra ten bucks last night, this Saturday I'll just be playing my regular amount.

                     * you don't need to buy more tickets, just buy a winning ticket * 
                       
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                      Columbus, OH
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                      Posted: December 9, 2013, 1:10 am - IP Logged

                      I truly believe I will win the Ohio Classic Lotto Jackpot. Everyone does or hopes they win but this is a true gut feeling. It is just a matter of when I play it.

                        RJOh's avatar - chipmunk
                        mid-Ohio
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                        Posted: December 14, 2013, 1:48 pm - IP Logged

                        Last night I played the ten MM lines I posted on the prediction board and won $2.  I will cash in that MM ticket and play ten Classic Lotto lines this evening and hope I do at least as well.  Winning something, even a dollar or two makes me feel more like a winner than when I win nothing.

                        Coming within one number of winning the Classic Lotto jackpot back in February got me hooked on OCL with its present jackpot of $54.4M/$27.2M cash and I can't avoid buying a few MM tickets with its half billion dollars plus jackpot.  Winning part of either one would be nice.

                        Good luck to all the dreamers out there including myself. Wink

                         * you don't need to buy more tickets, just buy a winning ticket * 
                           
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                          CowboysFan's avatar - Cowboys
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                          Posted: December 14, 2013, 11:25 pm - IP Logged

                          Hopefully your dream came true tonight RJOH. Mine didn't and the Super Lotto rolled to $50 million.

                            RJOh's avatar - chipmunk
                            mid-Ohio
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                            Posted: December 15, 2013, 12:52 pm - IP Logged

                            Hopefully your dream came true tonight RJOH. Mine didn't and the Super Lotto rolled to $50 million.

                            It did not, I went to play a half hour before cut-off time and found out all the lottery terminals in town were down.  I would have matched 3 for $2 so I saved $8, I'll just spend that $10 on MM tickets later. Disapprove

                             * you don't need to buy more tickets, just buy a winning ticket * 
                               
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                              RJOh's avatar - chipmunk
                              mid-Ohio
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                              Posted: December 16, 2013, 9:05 am - IP Logged

                              It did not, I went to play a half hour before cut-off time and found out all the lottery terminals in town were down.  I would have matched 3 for $2 so I saved $8, I'll just spend that $10 on MM tickets later. Disapprove

                              Just heard on the radio that a new jackpot record could be set with tomorow's MM drawing which MUSL plans to announce later today when they issue an update so instead of playing OCL today, I'm just going to put that money on some extra MM tickets.

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