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MegaMillions season tickets

Topic closed. 8 replies. Last post 13 years ago by Jake649.

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United States
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December 30, 2002
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Posted: April 19, 2004, 11:08 am - IP Logged

I live in MA and have a season ticket for MegaMillions. 104 drawings for $100 or $90 on the Christmas special - so you have the same number for each drawing.  I haven't hit the jackpot yet.

Do other MegaMillions states have season tickets? If so, do you have one?

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    Chicago
    United States
    Member #2661
    October 31, 2003
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    Posted: April 20, 2004, 12:28 am - IP Logged

    In Illinois we previously were able to buy tickets for a year if you filled out a special form  available thru your place where you buy lotery tickets but I think that it is no longer available.  Some states limit the number of advance draws because the stores want you to come in on the off chance you will buy something else while you are there.  I bought PB tickets a week ago in Wisc. for as far in advance as were offered and that was only for 8 draws.  In Mo. you can get 20 advance draws and if I remember correctly it was only 6 in Mass.

      st.germain's avatar - Tarlor
      chicago ill.
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      February 4, 2004
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      Posted: April 28, 2004, 10:36 am - IP Logged

      I personally would not buy season tickets because my logic is that the same combo would not appear every game  so I am forced to "chase" down the numbers in order to win anything , even if it is only half my money back.

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        United States
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        Posted: April 28, 2004, 1:27 pm - IP Logged

        If I were smart enough to find those winning combos, I probably wouldn't get one either.  My logic is 1)It saves money over the year because you get out of the habit of buying tickets each week, and when you do that it's easy to buy more than you intended to.  2)It also saves money because MA has a christmas season ticket special, so you get 104 tickets for $90, so I've already made $14.  3)The next drawing is the one that is going to make me a millionaire, and I want to make sure I have a ticket when I am called out of the country on Alias-like secret agent missions.    

        Quote: Originally posted by st.germain on April 28, 2004







        I personally would not buy season tickets because my logic is that the same combo would not appear every game  so I am forced to "chase" down the numbers in order to win anything , even if it is only half my money back.






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          Wisconsin
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          June 3, 2003
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          Posted: April 28, 2004, 1:50 pm - IP Logged

          That is correct, Wisco

          ... the lottery never fails to surprise!
            Jake649's avatar - scene sunovermountains.jpg

            Canada
            Member #2673
            November 2, 2003
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            Posted: April 28, 2004, 3:18 pm - IP Logged

            Seasons tickets offered at a discount is interesting to investigate from an expected value point of view. Being able to buy 104 tickets at a cost of only $90 raising the expected value. The questions is, does the expected value of the seasons tickets offset the expected value of only buying tickets when the jackpot is large.

            With seasons tickets you get the average expected value (over a year) improved with the discount. I will go back over the last year and perform the calculations and report back.

            Good luck,
            Jake

              Jake649's avatar - scene sunovermountains.jpg

              Canada
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              Posted: April 29, 2004, 9:28 am - IP Logged

              For the past year, the average expected value of Mega Millions was 33% (expressed another way, each $1 ticket was valued at $0.33). If you buy a seasons ticket at the discounted price of $90, the expected value goes up to 38%.

              On the other hand, if you only buy tickets when the jackpot is large, you get a much higher expected value. For example, for $100 million jackpots, the expected value is usually just over 50%. For $150 million jackpots, the expected value is ususally over 60%. The expected value for the recent $239 million jackpot was 68%.

              In summary, if you are trying to maximize expected value when buying Mega Millions, one is better off buying only when the jackpot is large rather than buy seasons tickets at a discount.

              Good luck,
              Jake

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                United States
                Member #972
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                Posted: April 29, 2004, 9:55 am - IP Logged

                Thanks, very interesting.  But having a ticket for every drawing is fun, and even if I win the lowest possible jackpot - say $5 million, the $10 million jackpot split with someone else - I would be okay with that. I could get everything I wanted with $5 million, even if I would get a better value for my $1 waiting to win $50 or $100 million.  In that case, why not have a ticket each drawing...and if I am going to have a ticket for each drawing, I should get it at the best price. It would be tough to have your number come up for $10 million and think you passed on that one because you weren't getting enough return for your dollar.

                But would I buy a few more when the jackpot hits $200-300 million? Yes.

                  Jake649's avatar - scene sunovermountains.jpg

                  Canada
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                  November 2, 2003
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                  Posted: April 29, 2004, 10:48 am - IP Logged

                  I agree. If you want to be in on every draw, then a seasons ticket at a discount is a great idea. And I have no problem playing the same numbers every draw.

                  Good luck,
                  Jake