minor criticism: Mega Millions

Reply #6

Guest — Thu, 11 Apr 2002 16:49:12 GMT

IMHO, Massachusetts should drop BOTH its 6/42 and 6/49 games and replace them with a 6/48 game for an unrelated reason: Both the 6/42 and 6/49 are ANNUITY ONLY (of course the 6/48 proposal would have a cash option.) I would expand the 5/35 Mass Cash to at least four drawings per week. As for 1/2 million prizes in pick-5 games, I don't think that's the real purpose of those games. They were invented to give players a better chance of winning the top prize, and, often, they pay better for a less-t... [ More ]

Reply #5

lottoscorp — Thu, 11 Apr 2002 15:34:49 GMT

Hello Todd,I too see,what can be veiwed as overtones for control and Iwill go out on a limb here and even say that:WHEN YOU SEE THE NUMBERS INCREASING OR A NEW LOTTERY COMINGINTO EXISTENCE,YOU CAN REST TO SURE THERE IS TOO MUCHPRESSURE ON THE EXISTING LOTTERIES...lottoscorp.Especially Massachusetts with a 5 Mil population,there wasno need for a Massmillions which eventually increased it'snumbers from 42 when it started to 46 a few years later andnow sits at 49 numbers(6/49).Most of my lottery re... [ More ]

Reply #7

lottoscorp — Thu, 11 Apr 2002 15:18:55 GMT

Hello Rob,lottoscorp here and I agree 100 and 10% with you in regardsto the BGMM payoff.I could never understand why the Connecticut Lottery couldgive a flat $5,000.00 Payoff on their Play4 Daily Numbersfor all four numbers in the exact position Like New Yorkand New Jersey Yet,Massachusetts have a fluctuating payoffthat never exceeds $5,000.00 and then they want to the people in that state to think their getting something andthey're not and playing population is not an issue either.You are very... [ More ]

Reply #4

Gamma Ray — Thu, 11 Apr 2002 00:23:55 GMT

I think the administation cost per $1 sale for the new Mega Millions will be lower as it sell on more state. With the assumption remains unchanged. There can still boost net income, at least keep existing net income, without imparing players' welfare

Reply #3

Gamma Ray — Thu, 11 Apr 2002 00:19:02 GMT

Let me talk about expected gain on gamblingExpect gain Per Bet=Bet x Payout x OddsFor the 5+0 matche:Biggame Player's Expected Gain=$1 x $150,000 x 1 /2,179,296=$0.068,829,566 Or 6.88%Mega Millions Player's Expected Gain=$1 x $175,000 x 1 /2,649,920=$0.066,039,729 Or 6.66%The calculation shows there is a welfare loss form players to operator.To be honest, and have the welfare unchange, Payout=0.068,829,566 / (1 /2,649,920)=$182,392.85Operator's Expect Gain %=1 -Player's Expected Gain %Operator's... [ More ]

Reply #2

Guest — Wed, 10 Apr 2002 16:50:13 GMT

I have no major complaints about Mega Millions (although maybe the jackpot prize level should be a little smaller, since 400+ million jackpots are inevitable anyway; perhaps second prize should be 200k). Since I live in NY state, I welcome BG-MM. The NY Lotto pays a ridiculously low 40%. Matching 3 of 6 numbers in NY Lotto pays only $1. Overall odds of winning in NY Lotto is 1 in 46. So, having a 1-in-43 chance of winning a minimum $2 will encourage NY-area players to try BG-MM. I think Ohio pla... [ More ]

Reply #1

Todd — Wed, 10 Apr 2002 14:47:53 GMT

I agree on your criticism of the 2nd-tier prize. Should have been $200k - $300k. I also wonder what people who live in states with similar game names think. For example, Ohio has a lottery scratch game called Mega Millions. Massachusetts has Megabucks and Mass Millions.Maybe they should have made the odds 1 in 250 million and called the game Mega Billions .-Todd

minor criticism: Mega Millions

Guest — Wed, 10 Apr 2002 11:58:50 GMT

I know that the BG 2nd prize is 50K more than the PB 2nd prize ... and I now know that the BGMM 2nd prize will be 25 K more than the old BG 2nd prize but, I think the Lottery folks should have gone the x-tra step and made the BGMM 2nd prize an even 200K (maybe even 250 K).I mean the 2nd prize hardly cuts into the Jackpot anyhow. Last night for 155 MIL there were 35 2nd prize winners taking home 150 K each; that 5.25 MIL in total.The new BGMM is gonna over shadow PB in the Jackpots ... and I thin... [ More ]