Florida United States
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January 13, 2016
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Perhaps I should clarify. I was told, by FL Lottery people, that prizes that aren't won are rolled into other games to pay for prizes won when that game hasn't generated enough revenue to pay for it on its own. So when WoF comes out and has a winner the first day, supposedly that's where the $ comes from. I know some people here call FL Lotto sometimes, perhaps one of those that are familiar with speaking to them can call and ask what happens when grand prizes aren't won.
It's also entirely possible that the money from prizes that aren't won in the scratch offs (as well as unclaimed tickets) are what pays for the promotions that they started emailing to people, the buy 1 ticket, get 1 free. That $ has to come from somewhere.
Florida United States
Member #171,918
January 13, 2016
576 Posts
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I wanted to find out how much FL Lotto collected, paid out, and kept, from some of the games I posted the total #s for in past posts. I did it for 200MS and 10MM Holiday since they're both priced the same.
Anyways, the numbers are here:
200MS:
231,562,500 Paid out (77.18% of the total $ collected, paid out).
68,437,500 Kept
300,000,000 Collected from tickets (total 30MM tickets)
10 Holiday:
47,914,000 Paid out (76.78% of the total $ collected, paid out).
14,486,000 Kept
62,400,000 Collected from all tickets (total 6,240,000 tickets)
My goal was to show how the #s worked out the same, and if you calculate the amount paid as a percentage of collected, it's about the same (around 77%). So the odds may seem worse, but they're still paying out the same amount as they did in games from years ago. (Unless my logic has failed me here, as it did in my first version of this post).
Jacksonville United States
Member #153,799
March 26, 2014
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Quote: Originally posted by oldghost on Apr 19, 2016
I wanted to find out how much FL Lotto collected, paid out, and kept, from some of the games I posted the total #s for in past posts. I did it for 200MS and 10MM Holiday since they're both priced the same.
Anyways, the numbers are here:
200MS:
231,562,500 Paid out (77.18% of the total $ collected, paid out).
68,437,500 Kept
300,000,000 Collected from tickets (total 30MM tickets)
10 Holiday:
47,914,000 Paid out (76.78% of the total $ collected, paid out).
14,486,000 Kept
62,400,000 Collected from all tickets (total 6,240,000 tickets)
My goal was to show how the #s worked out the same, and if you calculate the amount paid as a percentage of collected, it's about the same (around 77%). So the odds may seem worse, but they're still paying out the same amount as they did in games from years ago. (Unless my logic has failed me here, as it did in my first version of this post).
I think you are accurate.
The $200MS top prize paid out over 20 years which resulted in a greater lump-sum payment of approximately $800,000 (80% of advertised jackpot) currently because of current low interest rates. However, when the game was released, the lump-sum payment for a top prize was budgeted to be $671,000 for the prevailing interest rates at that time.
The $10 Holiday ticket pays the top prizes over 25 years which results in a slightly lower lump-sum payment of about $1,500,000 (75% of advertised jackpot).
Using the instant liability report for each game, actual total prize pool (considering the top prizes in their lump-sum amount) is:
$200MS: $229,166,845
Total sales of $300,000 means the payout is: 76.3%
$10 Holiday Gifts: $47,670,510
Total sales of $62,400,000 means the payout is: 76.3%
But overall, still pretty close.
On a side note, when you consider that the retailer gets 5% of each ticket sale and the Lottery has to pay for overhead, advertising, cost of producing tickets, etc., the profit margin is pretty slim. It is all made up on volume.
Florida United States
Member #172,865
February 7, 2016
1,306 Posts
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Skeptic, congratz on the nice win!
So, I went on my payday splurge and bought more of the $10 Holiday tickets. I bought tickets #31-59. Here are my results
31-36 - Losers.
37 - $10 winner
38- $10 winner
39 loser
40- $10 winner
41-45 losers.
46 - $10 winner
47- $15 winner
48-53 losers.
(At this point I was thinking wtf?)
54 -$20 winner
55 loser
56 -$10 winner
57- $40 winner
58 - $10 winner
59- $100 winner
Total spent: $290
Total return: $220
Return rate: 75% - This was an average roll. While a loss is always bad, a chance at hitting big and coming back with most of the money is comforting.
I'm thinking of using my winnings to buy some more tickets. Should I go with $20 Gold Rush, $25 Misfortune, $25 Florida Ass, the $5 Wheel of Misfortune, $5 Losing Streak, or something else? (serious question)
SARASOTA, FL United States
Member #95,774
August 17, 2010
1,971 Posts
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Quote: Originally posted by Dracos on Apr 22, 2016
Skeptic, congratz on the nice win!
So, I went on my payday splurge and bought more of the $10 Holiday tickets. I bought tickets #31-59. Here are my results
31-36 - Losers.
37 - $10 winner
38- $10 winner
39 loser
40- $10 winner
41-45 losers.
46 - $10 winner
47- $15 winner
48-53 losers.
(At this point I was thinking wtf?)
54 -$20 winner
55 loser
56 -$10 winner
57- $40 winner
58 - $10 winner
59- $100 winner
Total spent: $290
Total return: $220
Return rate: 75% - This was an average roll. While a loss is always bad, a chance at hitting big and coming back with most of the money is comforting.
I'm thinking of using my winnings to buy some more tickets. Should I go with $20 Gold Rush, $25 Misfortune, $25 Florida Ass, the $5 Wheel of Misfortune, $5 Losing Streak, or something else? (serious question)
Hey Dracos - did you win 220 or 235 ?? Right now from what I've been seeing - at least around here - GR has been spitting out some winners. But you know how quickly that can change !
I'd probably get 4 from one roll - 4 from another roll - 3 from another and put 15 in the gas tank (if I added right:)
Florida United States
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February 7, 2016
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Quote: Originally posted by skeptic on Apr 22, 2016
Hey Dracos - did you win 220 or 235 ?? Right now from what I've been seeing - at least around here - GR has been spitting out some winners. But you know how quickly that can change !
I'd probably get 4 from one roll - 4 from another roll - 3 from another and put 15 in the gas tank (if I added right:)
Ah, yeah you're right it was $235 back or an 81% return. Thanks man! I'm going to double check those losers too, I always seem to miss 1 whenever I scratch large numbers of tickets. Considering $290 spent, not a bad return with how scarce the $10 Holiday gifts ticket is becoming.
Sounds like a good suggestion. I think I'll buy some from Publix, a gas station, and a food mart right next to where I live.
I hear you. The $20 Gold rush is either really hot, or cold. I remember I found 5 $500 winners within a single week (the only time I was ahead in my short lotto career) haha.
Florida United States
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February 7, 2016
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Quote: Originally posted by Steeler on Apr 22, 2016
Last month bought 11 total of crossword doubler
Won 500 twice a 100 one 50 and on 40 all at random
Gratz! A testament to being at the right place at the right time.
I bought four $20 Gold Rush tickets from Publix, and two gas stations: ($240)
In total, only got $60 back (from three winners). Every single one of the ones I got from Publix was a dud, the first gas station had one $20 winner, and then the second gas station had two duds with two back to back $20 winners. Still, not all that disappointed considering how many tickets I got to scratch today and the much higher probable chance of hitting $500 by playing Gold Rush.
Anyway, I'm going to take another couple of weeks off scratching. Best of luck all!
Cape Coral United States
Member #173,981
March 28, 2016
316 Posts
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Quote: Originally posted by Dracos on Apr 22, 2016
Skeptic, congratz on the nice win!
So, I went on my payday splurge and bought more of the $10 Holiday tickets. I bought tickets #31-59. Here are my results
31-36 - Losers.
37 - $10 winner
38- $10 winner
39 loser
40- $10 winner
41-45 losers.
46 - $10 winner
47- $15 winner
48-53 losers.
(At this point I was thinking wtf?)
54 -$20 winner
55 loser
56 -$10 winner
57- $40 winner
58 - $10 winner
59- $100 winner
Total spent: $290
Total return: $220
Return rate: 75% - This was an average roll. While a loss is always bad, a chance at hitting big and coming back with most of the money is comforting.
I'm thinking of using my winnings to buy some more tickets. Should I go with $20 Gold Rush, $25 Misfortune, $25 Florida Ass, the $5 Wheel of Misfortune, $5 Losing Streak, or something else? (serious question)
Thank god for ticket #59 or that return would have been awful.
These $10HGs have proved to be great buy if you can manage to avoid the LONG streaks of losers.... I dont know what it is with this ticket, but compared to other games, this one seems to load all of the losers in order. You had streaks of 5,6,6, nothing but losers, then the last 4 hit big.
That roll looked terrible until you got to ticket 56. Good thing you didnt say " Ill take the next 15 tickets please" and walk out... lol..
SARASOTA, FL United States
Member #95,774
August 17, 2010
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Quote: Originally posted by KFla193 on Apr 25, 2016
Got this at Publix today. Ticket #039
NICE HIT KFLA !! You're back doing winners !!
Not a big deal but not too often do I get this - after getting gas at my fav Sunoco I went in and bought the last 6 GR tickets he had on the roll - whaddy know - everyone was $20 - paid 120 - got back 120 ......... LOL
Wimauma, FL United States
Member #168,850
September 20, 2015
221 Posts
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Quote: Originally posted by skeptic on Apr 25, 2016
NICE HIT KFLA !! You're back doing winners !!
Not a big deal but not too often do I get this - after getting gas at my fav Sunoco I went in and bought the last 6 GR tickets he had on the roll - whaddy know - everyone was $20 - paid 120 - got back 120 ......... LOL
SARASOTA, FL United States
Member #95,774
August 17, 2010
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Quote: Originally posted by PendingSector on Apr 25, 2016
I bet that result will never re-occur for you..
You are right PendingSector ! That was a first and last - just like the other first and last I had two years ago with 100X - bought 6 or was it 7 in a row and got two $1k's and three $500's ..... THAT will never happen again - one more first and last - 19 duds in a row off $200MS - hope that never re-occurs - LOL- oh why oh why can't I just get a $100K and quit this nonsense :)
Jacksonville United States
Member #153,799
March 26, 2014
818 Posts
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Quote: Originally posted by skeptic on Apr 25, 2016
You are right PendingSector ! That was a first and last - just like the other first and last I had two years ago with 100X - bought 6 or was it 7 in a row and got two $1k's and three $500's ..... THAT will never happen again - one more first and last - 19 duds in a row off $200MS - hope that never re-occurs - LOL- oh why oh why can't I just get a $100K and quit this nonsense :)
Don't feel too bad. I got my ass handed to me by the Super Millions game tonight. I bought tickets 5 through 19 and had one winner. It was a $100 winner, but literally 15 tickets and only one winner for supposed odds of 1 in 3.