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PB California - Did they do the math right?

Topic closed. 38 replies. Last post 4 years ago by Stack47.

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United States
Member #142348
May 9, 2013
25 Posts
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Posted: May 12, 2013, 2:22 am - IP Logged

I'm curious about the 5/5 prize for the paramutuel payout in CA and  I know we still have a low number of draws to base any conclusions on but did they get their math right?  I thought that they set the game up to closely mimick the results from the states that use the standard payouts.  Are they putting enough money from each ticket into the 5/5 prize pool so that over time we will see an average payout at the 1 million level? So far it doesn't look like it, but maybe CA players have just been on a hot streak and hit the 5/5 more than expected in the first 10 draws. Do we have any math geeks who know the answer.

Here is what the 10 winners of 5/5  got paid so far in CA:

1,306,323

501,893

501,893

280,630

280,630

917,856

917,856

573,694

573,694

573,694

 

W

    Jon D's avatar - calotterylogo
    Los Angeles, California
    United States
    Member #103813
    January 5, 2011
    1530 Posts
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    Posted: May 12, 2013, 5:16 am - IP Logged

    Can't answer you without being labelled a geek.

    Why don't you try reading some previous threads on this subject, which has been beaten to death:

    http://www.lotterypost.com/thread/259257

    http://www.lotterypost.com/thread/259638

    http://www.lotterypost.com/thread/260140


      United States
      Member #142348
      May 9, 2013
      25 Posts
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      Posted: May 12, 2013, 5:56 am - IP Logged

      I got this from one of the threads you posted - This is what I wanted to know - the percentage that went into the 2nd prize.  Thanks Jon D.  And we say geek in the most flattering way possible.

       

      Complete Cali PB prize pool share below:

      PrizePercent
      5 + PB29.98%
      5 + 09.70%
      4 + PB0.77%
      4 + 00.26%
      3 + PB0.41%
      3 + 00.97%
      2 + PB0.50%
      1 + PB1.80%
      PB3.61%
      reserve2.00%
      Total

      50.00%

        fja's avatar - gnome1

        United States
        Member #91
        January 19, 2002
        11931 Posts
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        Posted: May 12, 2013, 12:49 pm - IP Logged

        Average pay out so far from a winning 2nd prize PB ticket in Cali. is $642,816  all other states $1,000,000

        Averge pay out so far from a winning 2nd prize MM ticket in Cali. is $209, 068 all other states $ 250,000

        "Everybody has to believe in something...I believe I'll have another beer!"   = W.C.Fields                      

          rdgrnr's avatar - walt
          Way back up in them dadgum hills, son!
          United States
          Member #73904
          April 28, 2009
          14903 Posts
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          Posted: May 12, 2013, 1:03 pm - IP Logged

          Average pay out so far from a winning 2nd prize PB ticket in Cali. is $642,816  all other states $1,000,000

          Averge pay out so far from a winning 2nd prize MM ticket in Cali. is $209, 068 all other states $ 250,000

          Californians pay for their sins one way or another.

          There is a price to be paid for foisting Charlie Sheen upon an innocent nation.

            noise-gate's avatar - images q=tbn:ANd9GcR91HDs4UJhjxO7cmeMQWZ5lB_FOcMLOGicau4V74R45tDgPWrr
            Bay Area - California
            United States
            Member #136477
            December 12, 2012
            4108 Posts
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            Posted: May 12, 2013, 3:40 pm - IP Logged

            I'm curious about the 5/5 prize for the paramutuel payout in CA and  I know we still have a low number of draws to base any conclusions on but did they get their math right?  I thought that they set the game up to closely mimick the results from the states that use the standard payouts.  Are they putting enough money from each ticket into the 5/5 prize pool so that over time we will see an average payout at the 1 million level? So far it doesn't look like it, but maybe CA players have just been on a hot streak and hit the 5/5 more than expected in the first 10 draws. Do we have any math geeks who know the answer.

            Here is what the 10 winners of 5/5  got paid so far in CA:

            1,306,323

            501,893

            501,893

            280,630

            280,630

            917,856

            917,856

            573,694

            573,694

            573,694

             

            W

            How about this for curiosity? Look at the TOTAL amount after  taxes from these States and compare to California...


            Arizona: 5% State Tax for In-State Residents- $583,333
            - $11,140,000
            Your average net per year: $8,166,667Your net payout: $155,960,000
            After 30 payments: $245,000,010
            Annuity Payment Schedule
             
            Non-Arizona Residents: 6% State Tax- $700,000
            - $13,368,000
            Your average net per year: $8,050,000Your net payout: $153,732,000
            After 30 payments: $241,500,000
            Annuity Payment Schedule

            Arkansas: 7% State Tax- $816,667
            - $15,596,000
            Your average net per year: $7,933,333Your net payout: $151,504,000
            After 30 payments: $237,999,990
            Annuity Payment Schedule

            California: No State Tax on Lottery Prizes!
            Your average net per year: $8,750,000Your net payout: $167,100,000
            After 30 payments: $262,500,000
            Annuity Payment Schedule

            Colorado: 4% State Tax- $466,667
            - $8,912,000
            Your average net per year: $8,283,333Your net payout: $158,188,000
            After 30 payments: $248,499,990
            Annuity Payment Schedule

            Connecticut: 6.7% State Tax- $781,667
            - $14,927,600
            Your average net per year: $7,968,333Your net payout: $152,172,400
            After 30 payments: $239,049,990
            Annuity Payment Schedule

             The above: Courtesy of USAMEGA.

             

            Then ask yourself...whose being S C R E W E D?

              noise-gate's avatar - images q=tbn:ANd9GcR91HDs4UJhjxO7cmeMQWZ5lB_FOcMLOGicau4V74R45tDgPWrr
              Bay Area - California
              United States
              Member #136477
              December 12, 2012
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              Posted: May 12, 2013, 3:49 pm - IP Logged

               Arkansas's Payout on the same Powerball at this stage compared to California would be a whooping $15,596,000 LESS..

              How about them Apples?

                whiteballz's avatar - Lottery-015.jpg
                Nutley, New Jersey
                United States
                Member #131058
                August 1, 2012
                875 Posts
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                Posted: May 12, 2013, 4:47 pm - IP Logged

                How about this for curiosity? Look at the TOTAL amount after  taxes from these States and compare to California...


                Arizona: 5% State Tax for In-State Residents- $583,333
                - $11,140,000
                Your average net per year: $8,166,667Your net payout: $155,960,000
                After 30 payments: $245,000,010
                Annuity Payment Schedule
                 
                Non-Arizona Residents: 6% State Tax- $700,000
                - $13,368,000
                Your average net per year: $8,050,000Your net payout: $153,732,000
                After 30 payments: $241,500,000
                Annuity Payment Schedule

                Arkansas: 7% State Tax- $816,667
                - $15,596,000
                Your average net per year: $7,933,333Your net payout: $151,504,000
                After 30 payments: $237,999,990
                Annuity Payment Schedule

                California: No State Tax on Lottery Prizes!
                Your average net per year: $8,750,000Your net payout: $167,100,000
                After 30 payments: $262,500,000
                Annuity Payment Schedule

                Colorado: 4% State Tax- $466,667
                - $8,912,000
                Your average net per year: $8,283,333Your net payout: $158,188,000
                After 30 payments: $248,499,990
                Annuity Payment Schedule

                Connecticut: 6.7% State Tax- $781,667
                - $14,927,600
                Your average net per year: $7,968,333Your net payout: $152,172,400
                After 30 payments: $239,049,990
                Annuity Payment Schedule

                 The above: Courtesy of USAMEGA.

                 

                Then ask yourself...whose being S C R E W E D?

                nice chart. Can you please put up the numbers for Delaware, Florida, New Hampshire, Pennsylvania, South Dakota, Tennessee, Texas and Washington? None of those states tax lottery winnings just like California but unlike California, any 5 + 0 winner in those states is guaranteed a million dollars.

                .

                  noise-gate's avatar - images q=tbn:ANd9GcR91HDs4UJhjxO7cmeMQWZ5lB_FOcMLOGicau4V74R45tDgPWrr
                  Bay Area - California
                  United States
                  Member #136477
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                  Posted: May 12, 2013, 7:21 pm - IP Logged

                  Whiteballz- This issue has been touched on before.However...

                   

                  April 15th-2013.

                  A winning Powerball ticket worth $1.3 million was sold in Buena Park, making California’s first foray into the massively popular lottery game well worth it for someone in Orange County.

                  The winning ticket was sold at 17 Food Store located at 6522 Stanton Ave., according to theCalifornia Lottery’s website. It matches 5 of the winning numbers chosen during Saturday’s drawing for a $70 million jackpot.

                   

                  Which OTHER State  apart from CA pays out more than $1,000,000 for 2nd place- pray tell?

                    whiteballz's avatar - Lottery-015.jpg
                    Nutley, New Jersey
                    United States
                    Member #131058
                    August 1, 2012
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                    Posted: May 12, 2013, 7:37 pm - IP Logged

                    Whiteballz- This issue has been touched on before.However...

                     

                    April 15th-2013.

                    A winning Powerball ticket worth $1.3 million was sold in Buena Park, making California’s first foray into the massively popular lottery game well worth it for someone in Orange County.

                    The winning ticket was sold at 17 Food Store located at 6522 Stanton Ave., according to theCalifornia Lottery’s website. It matches 5 of the winning numbers chosen during Saturday’s drawing for a $70 million jackpot.

                     

                    Which OTHER State  apart from CA pays out more than $1,000,000 for 2nd place- pray tell?

                    you mention the one guy who got over a million dollars. He is the exception not the rule. What about the 9 other people who got less than a million?

                    As fja correctly pointed out, the average payout for 5 + 0 in California is $642,816.

                    Don't get me wrong, $642,816 is nothing to sneeze at but matching 5 without the PB is most likely a once in a life time event and in my opinion deserves at least a million dollar prize. In all the other states, a million dollars for 5 + 0 is guaranteed but in California, it's a maybe.

                    .

                      noise-gate's avatar - images q=tbn:ANd9GcR91HDs4UJhjxO7cmeMQWZ5lB_FOcMLOGicau4V74R45tDgPWrr
                      Bay Area - California
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                      Posted: May 12, 2013, 7:51 pm - IP Logged

                      you mention the one guy who got over a million dollars. He is the exception not the rule. What about the 9 other people who got less than a million?

                      As fja correctly pointed out, the average payout for 5 + 0 in California is $642,816.

                      Don't get me wrong, $642,816 is nothing to sneeze at but matching 5 without the PB is most likely a once in a life time event and in my opinion deserves at least a million dollar prize. In all the other states, a million dollars for 5 + 0 is guaranteed but in California, it's a maybe.

                      Whiteballz- l don't care what the other States are paying out neither do the majority of Californians. In order for this to make much sense, we need to read of 2nd place jackpot winners from California complaining about the amount they should have won- thing is: we don't, reason being people are happy to have won something in the first place.

                      This is a DOA issue and will amount to nothing. What is important is Winning the Jackpot FIRST.If you cannot do that, there is no conversation on first or second place to begin with.

                      Win first.

                      Big Smile


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                        Posted: May 12, 2013, 8:08 pm - IP Logged

                        BUt my original question is whether the math is right. What is the expected long term average for what 2nd prize will pay? I know along the way some will get more some less. I am not a communist! It is ok with me if different people get different results. Such is life.

                          whiteballz's avatar - Lottery-015.jpg
                          Nutley, New Jersey
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                          Posted: May 12, 2013, 9:29 pm - IP Logged

                          Whiteballz- l don't care what the other States are paying out neither do the majority of Californians. In order for this to make much sense, we need to read of 2nd place jackpot winners from California complaining about the amount they should have won- thing is: we don't, reason being people are happy to have won something in the first place.

                          This is a DOA issue and will amount to nothing. What is important is Winning the Jackpot FIRST.If you cannot do that, there is no conversation on first or second place to begin with.

                          Win first.

                          Big Smile

                          "This is a DOA issue and will amount to nothing. What is important is Winning the Jackpot FIRST.If you cannot do that, there is no conversation on first or second place to begin with.

                          Win first."

                          That's funny, you seem to start a topic almost every day asking people what they would do if they won. Now you are saying you should win the jackpot FIRST or there is no conversation to begin with.

                          .

                            noise-gate's avatar - images q=tbn:ANd9GcR91HDs4UJhjxO7cmeMQWZ5lB_FOcMLOGicau4V74R45tDgPWrr
                            Bay Area - California
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                            December 12, 2012
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                            Posted: May 12, 2013, 9:45 pm - IP Logged

                            That's funny, you seem to start a topic almost every day asking people what they would do if they won. Now you are saying you should win the jackpot FIRST or there is no conversation to begin with."

                             

                            No- This question  is beyond your and my control, why? because it has been decided by the Powers that be, namely the Californian Lottery Committee on how the pay structure will be for the Californian lottery games, there is nothing you or l can say that will change that.When we have a for and against opinion, we run into the " we agree to disagree" realm. l know when to back off instead of commenting on a topic ad nauseum.

                            My questions are based on things "WE CAN CONTROL, there is a difference. l could ask " Why dont other States refrain from imposing taxes on lottery winnings?"- but it would be pointless, its a decision that is already made by the legislators etc.

                            Know when to pick your battles Whitelballz..

                            Smile

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                              Posted: May 13, 2013, 1:38 am - IP Logged

                              Californians pay for their sins one way or another.

                              There is a price to be paid for foisting Charlie Sheen upon an innocent nation.

                               Not my fault. Hit With Stick