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Are the middle lotteries worth it?

Topic closed. 3 replies. Last post 3 years ago by SergeM.

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clifford1944's avatar - Lottery-050.jpg
Broken Arrow Oklahoma
United States
Member #85721
January 21, 2010
159 Posts
Offline
Posted: August 27, 2013, 3:46 pm - IP Logged

When the Hot Lotto went to 1-47 I am thinking that it is not worth it.  Here's some

calculations I did and maybe Powerball and Mega Millions have a good spot to aim for,

the 5 numbers.  Getting the power ball along with the play is good.  Perhaps the extra

$1 is worth it.  Who knows.

Powerball:

For 175,223,510 odds and starting jackpots at $40 million.

$40 million / 175,223,510 is rounded to 23 cents payout per odd.
$1 million / 5,153,633 is rounded = 19 cents.  $2
$2 million / 5,153,633 is rounded = 39 cents.  $2 + $1 = powerplay
$10,000 / 648,976 is rounded = 2 cents.
$40,000 / 648,976 is rounded = 8 cents. Powerplay
$100 / 19,088 is rounded = 1 cent.
$200 / 19,088 is rounded = 2 cents. Powerplay
$4 / 55 is rounded = 7 cents.
$12 / 55 is rounded 21 cents.  Powerplay

Mega Millions:

For 175,711,536 odds and starting at $12 million.

$12 million / 175,711,536 is rounded to 7 cents payout per odd.
$250,000 / 3,904,701 is rounded = 6 cents. $1
$1 million / 3,904,701 is rounded = 24 cents. $1 + $1 = powerplay
$150 / 15,313 is rounded to 1 cent.
$300 / 15,313 is rounded to 2 cents. powerplay at 2x
$450 / 15,313 is rounded to 3 cents. powerplay at 3x
$600 / 15,313 is rounded to 4 cents. powerplay at 4x
$2 / 75 is rounded to 3 cents. powerplay 2x=6, 3x=9, 4x=12 cents

Hot Lotto:

For 29,144,841 odds and starting jackpots at $1 million.

$1 million / 29,144,841 is rounded to 3 cents payout per odd.
$30,000 / 607,743 is rounded to 5 cents.
$90,000 / 607,743 is rounded to 15 cents. powerplay $1 + $1
$3,000 / 138,785 is rounded to 2 cents.
$9,000 / 138,785 is rounded to 6 cents.  powerplay
$3 / 52 is rounded to 6 cents.
$9 / 52 is rounded to 18 cents.  powerplay

Oklahoma Cash 5

For 376,992 odds and starting at the max $25,000 payout.

$25,000 / 376,992 is rounded to 7 cents payout per odd.
$500 / 2,432 is rounded to 21 cents.
$10 / 81 is rounded to 12 cents.

For Cash 5 in twelve draws just one $25,000 jackpot was won.  But on each draw and

average five to six wins were the $500.

My conclusion is that maybe the middle lottery games are not worth it like Hot Lotto. 

Perhaps going back to the Powerball and Megamillions with the powerplay is a good idea. 

Can some math buffs out there look this over and see where I may have gone wrong.

Home, home where I wanted to be.

    SergeM's avatar - slow icon.png
    Economy class
    Belgium
    Member #123700
    February 27, 2012
    4035 Posts
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    Posted: August 27, 2013, 6:29 pm - IP Logged

    The goal is to find a game that pays well in lower ranks. If you have to wait for a first or second price to break even, then it is the wrong game.

      clifford1944's avatar - Lottery-050.jpg
      Broken Arrow Oklahoma
      United States
      Member #85721
      January 21, 2010
      159 Posts
      Offline
      Posted: August 27, 2013, 7:00 pm - IP Logged

      Thanks Serge.  Cash 5 here pays $500 but my wife wants to play Powerball to get the $2 million.  $3!  Of course I can't even win the Cash 5.  But I do like the Cash 5.

      Home, home where I wanted to be.

        SergeM's avatar - slow icon.png
        Economy class
        Belgium
        Member #123700
        February 27, 2012
        4035 Posts
        Offline
        Posted: August 28, 2013, 6:09 am - IP Logged

        For some people a big jackpot is the only motivation to play the lottery.