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IL $20 50X The Cash Ticket Statement of Odds

Topic closed. 2 replies. Last post 4 years ago by Jon D.

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Zeta Reticuli Star System
United States
Member #30470
January 17, 2006
10353 Posts
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Posted: May 24, 2013, 3:39 pm - IP Logged

From thre back of the ticket:Statement of Approximate Odds:

(Top prize)

$4,000,000*  1 in 2,000,000 ..................... HUH? (My comment)

*The $4,000,000 Prize will be annuitized over a 20 year period. The $4,000,000 proze will be paid $200,000 a year for 20 years or as a cash option payment of $2,400,000 in lieu of annuity.

________________________________________________

Since when are the odds against less than the payout?

Something is flaky here, no?

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.

    Romancandle's avatar - moon
    Upacreek
    United States
    Member #136306
    December 8, 2012
    428 Posts
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    Posted: May 27, 2013, 3:24 pm - IP Logged

    Yeah, that doesn't seem right.  If so, that's the best odds I've ever seen on a JP prize for a scratcher ticket in IL.

    It is a $20 ticket though...

    $10 Good Life JP is 1 in 6,600,000... annuitized amount over 20yrs would net $10,400,000... so the odds could be right for the 50X ticket.  That ticket costs twice and much as the GL and the JP is less than half of the GL JP... just guessing here though.

    -RC

      Jon D's avatar - calotterylogo
      Los Angeles, California
      United States
      Member #103813
      January 5, 2011
      1530 Posts
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      Posted: May 27, 2013, 9:07 pm - IP Logged

      It's actually quite common for odds (against) to be less than the prize on higher denomination scratch tickets.

      You have to factor in the increased wager value (ticket price) like $20 tickets have into the equation. So the odds could be several times lower than the prize, up to denomination / 2 times, but typically just a few times lower. Like may $20 games have 1-in-30 odds for $100 prize, etc.