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NY Lotto: 25 years of ripping off winners

Topic closed. 20 replies. Last post 13 years ago by johnph77.

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Posted: November 14, 2003, 8:17 am - IP Logged

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's avatar - gnome1

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    Posted: November 14, 2003, 12:04 pm - IP Logged

    everything cost more in New York!

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

      twisted's avatar - underground
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      Posted: November 14, 2003, 12:37 pm - IP Logged

      "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.


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        Posted: November 17, 2003, 12:12 pm - IP Logged

        Twisted:

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

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          Posted: November 17, 2003, 12:47 pm - IP Logged
          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's avatar - chipmunk
            mid-Ohio
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            Posted: November 17, 2003, 3:04 pm - IP Logged

            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 more tickets, just buy a winning ticket * 
               
                         Evil Looking       


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              Posted: November 18, 2003, 1:02 pm - IP Logged

              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%.


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                Posted: November 27, 2003, 11:38 am - IP Logged

                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.


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                  Posted: December 15, 2003, 8:23 am - IP Logged

                  Lottoking:

                  You need to read this thread.

                    johnph77's avatar - avatar
                    CA
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                    Posted: December 15, 2003, 9:58 am - IP Logged

                    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's avatar - animaniacs24

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                      Posted: December 15, 2003, 11:52 am - IP Logged

                      johnphh7

                      who is Blessed Saint Leibowitz/?

                       

                      just wondering

                      thanks

                       

                          luckycat        >>>>>>>    purr-purr--purrfect                           


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                        Posted: December 15, 2003, 2:11 pm - IP Logged

                        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's avatar - avatar
                          CA
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                          Posted: December 15, 2003, 3:06 pm - IP Logged

                          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.

                           =^.^=


                            United States
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                            Posted: December 16, 2003, 8:16 am - IP Logged

                            johnph77:

                            I doubt Hoosier Lotto is that stingy. Show me proof that its payout is 34%.


                              United States
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                              Posted: January 12, 2004, 8:39 am - IP Logged

                              glewsza:

                              You probably didn't read this thread.