Mario's Lottery Groups

[Mario38]

The $50 million Lotto Max jackpot for the November 9 draw was not won and is capped at $55 million plus an estimated 12 Maxmillions for the next draw. Of the 6 Maxmillions, 3 were won. Sales of $52.5 million were 33% higher than average and 11% higher than the previous draw. There was a 69% chance the jackpot would not be won, a 25% chance of 1 winning ticket and a 6% chance of 2 or more winners. The payout was just above average at 54%. The jackpot and Maxmillions were fully funded from sales.

[Mario38]

The $5 million Lotto 649 jackpot for the November 10 draw was not won and is a minimum $7 million for the next draw. Sales of $14.3 million were 14% lower than average and 6% higher than the previous draw. There was a 71% chance the jackpot would not be won, a 24% chance of 1 winning ticket and a 5% chance of 2 or more winners. The payout was very low at 39%. The jackpot was under funded from sales by $1.8 million.

[Mario38]

The UK Lotto draw on November 17 - the last draw under the old format - will be a roll down jackpot draw. The jackpot is an estimated C$8.7 million. The payout will be around 60% at best and therefore the S groups will not play.

[Mario38]

The $7 million Lotto 649 jackpot for the November 14 draw was not won and is a minimum $9 million for the next draw. Sales of $13.2 million were 21% lower than average and 7% lower than the previous draw. There was a 73% chance the jackpot would not be won, a 23% chance of 1 winning ticket and a 4% chance of 2 or more winners. The payout was very low at 44%. The $1 million guaranteed prize was under funded from sales placing the Guaranteed Prize Fund to a new record deficit of $101.8 million.

[Mario38]

Group M7 launched to buy tickets for the November 23 Lotto Max draw. The jackpot is capped at $60 million plus an estimated 21 Maxmillions.

[Mario38]

The $55 million Lotto Max jackpot for the November 16 draw was not won and is capped at $60 million plus an estimated 21 Maxmillions for the next draw. Of the 12 Maxmillions offered, 3 were won. Sales of $52.6 million were 33% higher than average and 1% higher than the previous draw. There was a 69% chance the jackpot would not be won, a 25% chance of 1 winning ticket and a 6% chance of 2 or more winners. The payout was above average at 60%. The jackpot and Maxmillions were fully funded from sales.

[Mario38]

The $9.3 million Lotto 649 jackpot for the November 17 draw was not won and is an estimated $12 million for the next draw. Sales of $15 million were 10% lower than average and 13% higher than the previous draw. There was a 75% chance the jackpot would not be won, a 25% chance of 1 winning ticket and a 5% chance of 2 or more winners. The payout was about average at 47%. The jackpot was fully funded from sales.

[Mario38]

The M groups plan to buy at least 503 ($2,515) Lotto Max tickets giving odds of 1 in 2,588 of winning the jackpot or one of the Maxmillions.

[Buster]

What is the benefit of group buying lotto tickets? Is it just increasing your odds of winning by lowering your return? Or is there some other benefit that is not obvious to me.

[Mario38]

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What is the benefit of group buying lotto tickets? Is it just increasing your odds of winning by lowering your return? Or is there some other benefit that is not obvious to me.

The main benefit is to increase the odds of winning.

We play only when the jackpots are large to take advantage of all the extra money added to the jackpot collected from the previous draws. For individual play, the extra money is of little value because of the rule of diminishing returns. "The more money one has, the less value there is in each incremental dollar".

[ExtraSlow]

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What is the benefit of group buying lotto tickets? Is it just increasing your odds of winning by lowering your return? Or is there some other benefit that is not obvious to me.

That's exactly it. If you have 100x the chances to win the jackpot, but would receive 1/100th of the jackpot, that's appealing to many people.

[Mario38]

The $12.4 million Lotto 649 jackpot for the November 21 draw was not won and is an estimated $17 million for the next draw. Sales of $14.6 million were 12% lower than average and 2% lower than the previous draw. There was a 71% chance the jackpot would not be won, a 25% chance of 1 winning ticket and a 4% chance of 2 or more winners. The payout was just above average at 54%. The jackpot was fully funded from sales.

[Buster]

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The main benefit is to increase the odds of winning.

We play only when the jackpots are large to take advantage of all the extra money added to the jackpot collected from the previous draws. For individual play, the extra money is of little value because of the rule of diminishing returns. "The more money one has, the less value there is in each incremental dollar".

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That's exactly it. If you have 100x the chances to win the jackpot, but would receive 1/100th of the jackpot, that's appealing to many people.

But your predicted outcome per dollar at work is identical. (Unless there is something I don't know about lotto).

[Mario38]

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But your predicted outcome per dollar at work is identical. (Unless there is something I don't know about lotto).

If what you mean by predicted outcome per dollar to be the same as the terms payout or expected value, then yes. These values are the same regardless of whether you are playing as an individual or as part of a group.

- - - Updated - - -

The $60 million Lotto Max jackpot for the November 23 draw was not won and is capped at $60 million plus an estimated 35 Maxmillions for the next draw. Of the 20 Maxmillions offered, 2 were won. Sales of $59.9 million were 51% higher than average and 14% higher than the previous draw. There was a 66% chance the jackpot would not be won, a 28% chance of 1 winning ticket and a 6% chance of 2 or more winners. The payout was well above average at 66%. The jackpot and Maxmillions were fully funded from sales.

[ExtraSlow]

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But your predicted outcome per dollar at work is identical. (Unless there is something I don't know about lotto).

Totally correct. if you look at this as some kind of financial investment, sure it's about the same "return". You aren't changing the odds.

But look at it this way, to most people, $6 million would be life changing, and so would $60 million. The utility to the average schmuck is pretty close to identical.

[Mario38]

Group M8 launched to buy tickets for the November 30 Lotto Max draw. The jackpot is capped at $60 million plus an estimated 35 Maxmillions.

[Mario38]

The M groups won $340 and 53 free tickets in the November 23 Lotto Max draw for a total value of $605.

[Mario38]

The M groups plan to buy at least 600 Lotto Max tickets ($3,000) for the November 30 draw giving odds of 1 in 1,326 of winning the jackpot or one of the Maxmillions.

[Mario38]

If the Lotto 649 jackpot is not won in the November 28 draw, Group A14 will launch to buy tickets for the December 1 draw. The jackpot is expected to be around $24 million.

The $16.4 million Lotto 649 jackpot for the November 24 draw was not won and is an estimated $20 million for the next draw. Sales of $18.7 million were 12% higher than average and 27% higher than the previous draw. There was a 64% chance the jackpot would not be won, a 29% chance of 1 winning ticket and a 7% chance of 2 or more winners. The payout was above average at 72%. The bonus prizes were under funded from sales by $2.2 million placing the Guaranteed Prize Fund at a new record deficit of $103.9 million.

[Mario38]

The M groups plan to buy at least 627 Lotto Max tickets for the November 30 draw giving odds of 1 in 1,269 of winning the jackpot or one of the Maxmillions.