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CASH Only

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Nov 14, 2003, 8:17 am

When NY Lotto began in November 1978, it was a 6/40 game (always two plays for $1 except the 6/51 format February 1999-September 2001). The prize return was 40%, but it was the only such game at the time.
NY Lotto has gone through a number of changes in its 25 years. Unfortunately, one thing that has NOT changed is the ridiculously low 40% prize return-the worst of any US lottery game.
Even with its cash option, NY Lotto (now 6/59) just isn't worth playing. Matching three numbers wins $1. Four numbers have paid $15 or $13. The best way to get the NY Legislature to allow the NY Lottery to pay Lotto winners their fair shares is to stop playing NY Lotto.
fja

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Nov 14, 2003, 12:04 pm

everything cost more in New York!

"Everybody has to believe in something...I believe I'll have another beer!" = W.C.Fields
twisted

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Nov 14, 2003, 12:37 pm

"everything cost more " only in New York City. The whole of New York is a different story. But I do believe that the 40% return to the players is unfair and everyone should stop playing NY lotto.
CASH Only

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Nov 17, 2003, 12:12 pm

Twisted:
I agree. I'm trying to get all NY Lotto players to switch to MM.
BfloTG

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Nov 17, 2003, 12:47 pm

Quote: Originally posted by CASH Only on November 14, 2003

Even with its cash option, NY Lotto (now 6/59) just isn't worth playing. Matching three numbers wins $1. Four numbers have paid $15 or $13. The best way to get the NY Legislature to allow the NY Lottery to pay Lotto winners their fair shares is to stop playing NY Lotto.

I agree. Odds to win a lousy buck are 96 to 1 for a $.50 play.
But I have to correct you Cash. The percentage payout is not 40%, it's even worse. They retain another 2% for a reserve fund. That means the payout is only 38% for a given drawing.
I too have quit playing the NY Lotto. Had been playing for over 10 years, never won more than $1. Playing the NY Keno game "Quick Draw" at least pays 50% and has much better odds.

BfloTG
RJOh

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Nov 17, 2003, 3:04 pm

Those odds don't sound that bad. In OhioSuperLotto,a 6/49+1 game, the overall odds of winning something(a free QP for annuity payments) is 1:54, but the odds of winning the smallest cash amount ($5) is 1:812 for a $1 play, that's about 81 to 1 for a buck per every 50¢ spent.
A few years ago they had a limit on what a single ticket would pay regardless of the jackpot size. That was doing the good old days when jackpots were as high $60M and rollovers were a least $4M. After people stopped playing and adjacent states got their own lottery the limits were removed, but the jackpots never get that high any more.
RJOh

* you don't need to buy every combination, just the winning ones *
CASH Only

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Nov 18, 2003, 1:02 pm

BfloTG:
I wasn't sure if the "reserve fund" 2% was still being utilized that way. Even with reserves, the prize return is no more than 40%.
CASH Only

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Nov 27, 2003, 11:38 am

Only $7 million after two rollovers. In the early days of the NY Lotto cash option (1996), two rolls meant a jackpot of $15m-$17m.
CASH Only

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Dec 15, 2003, 8:23 am

Lottoking:
You need to read this thread.
johnph77

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Dec 15, 2003, 9:58 am

Re NY Lotto, reserve fund is still utilized, but the payout is entirely pari-mutuel, so my best guess is that that fund is used only to cover their adzes in case they have to pay out to the next highest dollar, God forbid. At worst, the payout percentage is only 38.00%
As far as Ohio is concerned, the only high-payout game not covered by pari-mutuel payouts is the Buckeye 5, and the return there is 54.88%.

Blessed Saint Leibowitz, keep 'em dreamin' down there.....

Next week's convention for Psychics and Prognosticators has been cancelled due to unforeseen circumstances.

=^.^=
luckycat

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Dec 15, 2003, 11:52 am

johnphh7
who is Blessed Saint Leibowitz/?

just wondering
thanks

luckycat >>>>>>> purr-purr--purrfect
CASH Only

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Dec 15, 2003, 2:11 pm

johnph77:
Whether it's 38% or 40%, NY Lotto has the WORST prize return of any US lottery game. BTW, the 3-of-6 prize has always been $1 since the 6/59 format began-its first drawing was the night after the 9/11 attacks.
johnph77

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Dec 15, 2003, 3:06 pm

CASH Only -
The last time I checked the Indiana Hoosier lottery, based on historical information posted by them, only had a payback of 34.46%. I just checked it again, and I stand by that.
luckycat -
The reference to Blessed Saint Leibowitz comes from a book, "Space" , written by James Michener in 1982 about the astronaut program as only he could have recorded it. My signature comes from his reference to an earlier book titled "A Canticle for Leibowitz" by Walter Miller.

Blessed Saint Leibowitz, keep 'em dreamin' down there.....

Next week's convention for Psychics and Prognosticators has been cancelled due to unforeseen circumstances.

=^.^=
CASH Only

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Dec 16, 2003, 8:16 am

johnph77:
I doubt Hoosier Lotto is that stingy. Show me proof that its payout is 34%.
CASH Only

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Jan 12, 2004, 8:39 am

glewsza:
You probably didn't read this thread.

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