|Posted: July 23, 2013, 7:08 pm - IP Logged|
My first post is a question from an observation.
The Masslottery webpage predicts the jackpot before every drawing even when there is a carryover. Megabucks was hit on Saturday by one winner but the payout was less than what had been predicted for the three previous drawings. How come?
First of all, welcome to LP elltwo. You will learn a lot about lottery from this website.
About you question on Megabucks. Below is the ways to win and the prizes in each category.
No Doubler Prizes
| All 6|| 1 in 13,983,816|| JACKPOT†|| JACKPOT†|
| 5 of 6|| 1 in 54,200.84|| $2,500|| $5,000|
| 4 of 6|| 1 in 1,032.40|| $100|| $200|
| 3 of 6|| 1 in 56.66|| $2|| $4|
The jackpot prize only goes up if enough money was played to cover the second, third and fourth prizes. Remember also that Rule #5 states that Approximately 55% of the amount of money wagered on each drawing goes into the prize pool. So supposing that $200,000 was wagered by players between Sunday morning (after the Saturday night drawing) and Wednesday evening just before the draw. From that money, only $110,000 goes into the jackpot. Supposing further that 100 people matched 5 of 6 and no other prizes were matched. This means the lottery will have to pay out $2,500 X 100 = $250,000. The lottery will pay this winnings by taking the $110,000 that was to go into the jackpot and then will further raid the standing jackpot for $140,000 to cover the payouts. Mass Lottery never takes a hit. It happens a lot when birthday numbers (numbers between 1 & 31) fall like they did on Saturday July 20, 2013. The numbers were 01-03-07-09-23-28. And no, they weren’t my numbers, unfortunately.
That money's gone fo ever