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Why Only Lotteries rather than Drawings?

Topic closed. 9 replies. Last post 3 years ago by savagegoose.

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Posted: December 7, 2013, 4:17 pm - IP Logged

Hello...I am wondering why there are only state lotteries (no guaranteed winner based on fixed odds) but no state drawings (a guaranteed winner with odds based on number of entrants)?  Why don't states offer a drawing such as 100,000 entries at $2 a piece that gives me a 1 in 100,000 chance to win $175,000 and guarantees a winner since it is a drawing rather than a lottery?

 

Another example:  1,000,000 entries at $2 a piece for a guaranteed winner at better odds than lottery to win $1.75 Million?

    Todd's avatar - Cylon 2.gif
    Chief Bottle Washer
    New Jersey
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    Posted: December 7, 2013, 4:32 pm - IP Logged

    States do offer those kinds of games.  They are called Raffles.  This time of year many states offer them because they make for good gifts.

     

    Check the State Lottery Report Card
    What grade did your lottery earn?

     

    Sign the Petition for True Lottery Drawings
    Help eliminate computerized drawings!

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      Posted: December 7, 2013, 4:37 pm - IP Logged

      I should have used the term "Raffle" instead of "Drawing."  I think many state lottery players would convert to a daily raffle with a guaranteed winner each day along with better odds:

      Michigan state lottery:  1 in 10.7 Million chance to win $1 Million (no guaranteed winner)

      Why not 2 daily raffles each with 600,000 raffle tickets at $2 each?:  1 in 600,000 chance to win $1 Million (guaranteed winner each day) 

      I think I'm missing something because I don't see why this type of game isn't being offered.  Thanks for any insights.

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        Posted: December 7, 2013, 4:38 pm - IP Logged

        Thanks Todd for the response.  I just posted before reading your post.  Many thanks for your help.

        Mark

          RJOh's avatar - chipmunk
          mid-Ohio
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          Posted: December 7, 2013, 4:46 pm - IP Logged

          I should have used the term "Raffle" instead of "Drawing."  I think many state lottery players would convert to a daily raffle with a guaranteed winner each day along with better odds:

          Michigan state lottery:  1 in 10.7 Million chance to win $1 Million (no guaranteed winner)

          Why not 2 daily raffles each with 600,000 raffle tickets at $2 each?:  1 in 600,000 chance to win $1 Million (guaranteed winner each day) 

          I think I'm missing something because I don't see why this type of game isn't being offered.  Thanks for any insights.

          It takes a month to sell 500,000 raffle tickets in the larger states, what make you think any state could sell 600,000 raffle tickets twice ever day?

           * you don't need to buy more tickets, just buy a winning ticket * 
             
                       Evil Looking       

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            Posted: December 7, 2013, 4:55 pm - IP Logged

            Actually I could not find a weekly raffle offered in a state that allows for a big jackpot.  Obviously the odds are much better with significant prize amounts.

            I'm just thinking outloud:

            Offer a daily raffle at $2 or $5 per ticket and the state keeps 25% of the revenue leaving the following odds and prize amounts with a daily guaranteed winner:

            # of tix sold                       

            100,000                 $375K

            250,000                 $987K

            500,000                 $1.9 Million   

            1,000,000              $3.8 Million

            2,000,000              $7.5 Million

            5,000,000              $18.8 Million

            All of these odds are MUCH better than the state lotteries by at least double (not counting multi-state lotteries which are exponentially worse) with a guaranteed winner.  Of course, you are paying for those better odds with a $5 ticket but I would pay that for significantly better odds (1 in 500,000 to win $2 Million rather than 1 in 10.7 Million).

            Are there any raffles with big stakes out there on a periodic basis?

            Thanks everyone for your time.

            Mark

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              Posted: December 7, 2013, 4:59 pm - IP Logged

              Good point RJOh...Lets say its a weekly raffle and the prize amount and odds are based on how ever many raffle tickets are sold within that week so odds & prize amount will vary.  You are paying a premium for the odds while earning a much better chance at a large jackpot (not close to multi-state lotteries obviously).

              Thanks for responding RJOh,

               

              Mark

                RJOh's avatar - chipmunk
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                Posted: December 7, 2013, 5:08 pm - IP Logged

                Good point RJOh...Lets say its a weekly raffle and the prize amount and odds are based on how ever many raffle tickets are sold within that week so odds & prize amount will vary.  You are paying a premium for the odds while earning a much better chance at a large jackpot (not close to multi-state lotteries obviously).

                Thanks for responding RJOh,

                 

                Mark

                It really doesn't matter if it's a raffle or a lottery, the prizes are never going to amount to more than 50% of ticket sales.  To offer a million dollar prize, more than two million dollars worth of tickets have to be sold and I doubt if that can happen even in a week.  States aren't going to put themselves in a position to lose money.

                 * you don't need to buy more tickets, just buy a winning ticket * 
                   
                             Evil Looking       

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                  Posted: December 7, 2013, 5:14 pm - IP Logged

                  Yeah...that makes sense.  I knew there had to be a reason why this "idea" is not being used.

                  Thanks again RJOh,

                  Mark

                    savagegoose's avatar - ProfilePho
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                    Posted: December 7, 2013, 5:52 pm - IP Logged

                    our state lotto  made a new game whn they bought the new ticketting system. it was a raffle based draw, that was drawn once all the tickes where sold.

                    it took them an age to sell the 200k tickets. and prize sucked.

                     

                    http://en.wikipedia.org/wiki/Australian_Lottery#South_Australia:_LuckySA_Lottery

                     

                    they only did 1 draw and gave up on the idea.

                    2014 = -1016; 2015= -1409; 2016 JAN = -106; FEB= -81; MAR= -131; APR= - 87: MAY= -91; JUN= -39; JUL=-134; AUG= -124; SEP = -123; OCT= -84  NOV=- 73 TOT= -3498

                    keno historic = -2291 ; 2015= -603; 2016= JAN=-32, FEB= +12 , MAR= -86, APR = -77. MAY= -48, JUN= -29, JUL=-71; AUG = -52; SEPT= -43; OCT = +56 NOV = -33 TOT= -3297