|Posted: October 10, 2014, 2:19 pm - IP Logged|
Does anyone have the payback percentages in Illinois on the $10,$20, and $30 games.
It is so funny. I emailed the lottery and Northstar wrote back giving me a generic look on the website
for scratcher information. The payback percentages are NOT listed on the site. It is like they didn't even
read the question.
I am setting up a syndicate with a few people going in together on some rolls of tickets where the best percentage
of the top prizes are available. Going to do a skype and scratch type of deal. If anyone has these payback percentages
off hand please let me know. Thanks.
You might have to file a formal Freedom of Information request to get that info.
Don't live in IL but it will probably be the ones with the best odds. Comparing 50 games in my state, the correlation coefficient of overall odds and game payback is 0.9, which means that the variation in overall odds explains 90% of the variation in payback. So a good rule of thumb is that those with the best odds have the best return. Not always the case of course, but without access to more information it's the best you can do.
Top prizes remaining is only part of the story....to use that info you also need to know how many tickets have been sold and how many remain in the game. A game with 10 top prizes left is no good if there are 50 million tickets still in the game. Again, that's where FoI requests come into play.
If the chances of winning the jackpot are so slim, why play when the jackpot is so small? Your chances never change, but the potential payoff does.
If a crystal ball showed you the future of the rest of your life, and in that future you will never win a jackpot, would you still play?
2017: 0% (0 tickets)
P&L % = Total Win($)/Total Wager($) - 1