Prizes....

[thornc]

Originally posted by Sheba on the 649 discussions!
There were 251,093 winning tickets with prize payouts totaling $479,618.40.

Interesting, I did some math and this saterday's draw of SuperEnalotto paid
€4,324,967.08 to 104,638 hits. No one hit 6 or 5+1! The total ammount for prizes was €7.208.431,17 !

That's the result of a very difficult lottery compared to 649! What I wouln't give for a nice 14M:1 chance at the jackpot!

 

[thornc]

Now this takes to the question: what percentage of a draw's total money is dedicated to prizes?

According to the rules of SuperEnalloto 38% is dedicated to prizes! Which isn't that big!

I tryed to find this information on the bclc site, but I didn't see anywhere....

 

[Sheba]

That is low compared to some lotto's...

Sheba__ ~~~
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
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[powerball]

Many lotteries provide a prize payout of 50% or more. A lotto with only a 38% payout is a rip-off and should be avoided.

As detailed at Lotto 6/49 Statistical Analysis, 45% is supposed to be allocated to prizes. However, because of the minimum guaranteed jackpots of $2 million (then 5 and 10 million), the actual payout is higher than 45% when the jackpot is won. For a $10 million draw, the expected payout rises to approximately 73%!

Now this takes to the question: what percentage of a draw's total money is dedicated to prizes?

 

[thornc]

Many lotteries provide a prize payout of 50% or more. A lotto with only a 38% payout is a rip-off and should be avoided.

Easy to say, I don't really have much alternatives... It's either SuperEnalloto 6+/90 or Gioco del Lotto 5/90... the second is a bit worse to bet on!

As for a ripoff, I think it's not like that... 400€ for a 4/6 and more than 30K€ for a 5/6 it's a good pay if you manage to get it!

Better yet a single bet costs 0.5€! And there are no applicable taxes! Those 50%, are they from the full ammount or after taxes? In which case how much is it?