IL $20 50X The Cash Ticket Statement of OddsPrev TopicNext Topic

• Coin Toss

  

  Zeta Reticuli Star System
  United States
  Member #30,469
  January 17, 2006
  11,788 Posts
  Offline
  May 24, 2013, 3:39 pm

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  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. So many systems, so many theories, so few jackpot winners. 

  

  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

  

  Upacreek
  United States
  Member #136,300
  December 8, 2012
  432 Posts
  Offline
  May 27, 2013, 3:24 pm

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  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

  

  Los Angeles, California
  United States
  Member #103,809
  January 5, 2011
  1,530 Posts
  Offline
  May 27, 2013, 9:07 pm

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  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.