NY Lotto: 25 years of ripping off winnersPrev TopicNext Topic

• Todd

  

  50

  Chief Bottle Washer

  New Jersey
  United States
  Member #1
  May 31, 2000
  27,930 Posts
  Online
  Jan 12, 2004, 8:51 am

  ▲▼

  The Hoosier Lottery gives back 56%.  Here's the link:

  http://www.in.gov/hoosierlottery/profit.html

   

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

   

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

  United States
  Member #379
  June 5, 2002
  11,296 Posts
  Offline
  Jan 12, 2004, 8:54 am

  ▲▼

  Todd:

  I suppose that's the best % of any US jackpot game. Guess they can afford free plays for 2-of-6.
• Todd

  

  50

  Chief Bottle Washer

  New Jersey
  United States
  Member #1
  May 31, 2000
  27,930 Posts
  Online
  Jan 12, 2004, 6:27 pm

  ▲▼

  Johnph77:

  You can't go by the annuity value.  It is based on fluctuating rates, and has no bearing on the percentage of sales that go to jackpots.

   

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

   

  Sign the Petition for True Lottery Drawings
  Help eliminate computerized drawings!
• johnph77

  

  CA
  United States
  Member #2,987
  December 10, 2003
  832 Posts
  Offline
  Jan 12, 2004, 8:01 pm

  ▲▼

  Basically, the jackpot value would have to reach approximately $3,746,000 to enable a 56% payout percentage.

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

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

   =^.^=
• Todd

  

  50

  Chief Bottle Washer

  New Jersey
  United States
  Member #1
  May 31, 2000
  27,930 Posts
  Online
  Jan 12, 2004, 8:09 pm

  ▲▼

  I'm just confused by your table of numbers and what you're trying to show.  Unless you can get the total sales number form the Hoosier Lottery, then your chart won't work.  Usually the lotteries release an annual report of some type, so you should probably start by tracking down last year's report.

   

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

   

  Sign the Petition for True Lottery Drawings
  Help eliminate computerized drawings!
• johnph77

  

  CA
  United States
  Member #2,987
  December 10, 2003
  832 Posts
  Offline
  Jan 12, 2004, 9:35 pm

  ▲▼

  Tables are based on total possibilities of the draw, not on actual ticket sales. In a 6/48 game there are 12,271,512 different 6-number combinations possible. If one of each possible ticket is sold, one ticket will hit the jackpot, which pays $500,000, representing 4.07% of the amount bet. There will be 252 tickets hitting 5 of 6, each paying $957 (on average - these are pari-mutuel payouts, but the numbers come as averages from the Indiana Lottery Commission) giving a total payout of $241,164, representing 1.97% of the amount bet. Other figures are cited in the chart, but the game would take in $12,271,512. With the quoted pari-mutuel payouts of $500,000 for the jackpot, $957 for hitting 5 of 6, $40 hitting 4 of 6 and the fixed payouts of $3 and $1 for hitting 3 and 2 of 6, respectively, the total payout for this one game given those figures would be $3,625,514, representing 29.54% of the total bet. It is not to say Indiana wouldn't adjust the lower-tier payouts to meet the 56% payout percentage figure they quote. But there still would have to be a certain percentage withheld for the jackpot rollover. And rollovers will increase the jackpot and the payout percentage. In this example, for instance, the payout percentage if 29.54% is the lowest possinle, given the average figures, and the lower tier pari-mutuel payuots would probably be adjusted upwards to yield a higher total payout percentage. But when I create the charts I can only go by the quoted figures.

  Incidentally, I do not give a total payout percentage on site for this game. I seldom will do this, given that the governing lottery commission will adjust payouts to meet their legal requirements.

  gl.

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

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

   =^.^=