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How Do They Pre-Determine Jackpots?

Maybe Fred....Actually.....Fred does know the answer to this I am sure.

How do they pre-determine the Jackpot for the next draw and when someone wins the Jackpot it says (for example tonight's 6/49 15 Mil) $14,239,098.98. Like why those numbers????? I never did get it.

I think they have a SET amount for the total winnings (3/6, 4/6, 5/6, 5(b)/6, 6/6) and they divide it up depending on the amount of winners. Obviously leaving what is remaining for the Jackpot, that explains the over/under the estimated Jackpot amount when you see a(the) winner(s).


Having said that, buy your tickets....You may have all the SPs you want!!!!
 

moresex4me

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I think the jack pot is determined by the number of tickets sold, like a 50/50 draw. So much of the sold tickets goes into the big pot, which determines how much each level gets once winners are determined. That's why the always say "estimated jackpot".
 

Fred Zed

Administrator
Dec 31, 1969
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moresex4me said:
I think the jack pot is determined by the number of tickets sold, like a 50/50 draw. So much of the sold tickets goes into the big pot, which determines how much each level gets once winners are determined. That's why the always say "estimated jackpot".
That is correct. A fixed percent is allocated to each prize category.
So the final prizes are only known after the draw.
 

dhs

New member
Jul 29, 2009
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649

Fred Zed said:
That is correct. A fixed percent is allocated to each prize category.
So the final prizes are only known after the draw.
No winner last night!
$23 million for Saturday's draw.

Cheers

DHS
 

Fred Zed

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dhs said:
No winner last night!
$23 million for Saturday's draw.

Cheers

DHS
I think it might be another 2 draws before this is collected as it's end of the
month. Many people cut down on gambling at the end of the month due to other financial commitments ( rent, mortgage etc ).
 

Nameless_1

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Nov 7, 2002
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Jeeze. Only $23 million LOL
Hardly worth the drive to pick it up.

Does anyone have actual historical stats on how the number of tickets sold is affected by the then-current jackpot size? Seems to me that when the jackpot size goes up, more folks might be inclined to buy more tickets.
 

dhs

New member
Jul 29, 2009
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649

Nameless_1 said:
Jeeze. Only $23 million LOL
Hardly worth the drive to pick it up.

Does anyone have actual historical stats on how the number of tickets sold is affected by the then-current jackpot size? Seems to me that when the jackpot size goes up, more folks might be inclined to buy more tickets.
You are right...as the pot gets bigger...more tickets are sold >

http://lottery.sympatico.msn.ca/cgi-bin/english?job=show_results&lottery=na_lotto_649


I think it will be won as it is the 1st of August and pensioners get paid!

cheers
dhs
 

Nameless_1

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dhs said:
You are right...as the pot gets bigger...more tickets are sold
Which indicates to me that the OLG would have a vested interest in having a large jackpot. Large jackpot ==> more sales ==> more profit. Nothing like two or three draws with no BIG winner to pump up the size of the next jackpot.

However, I was hoping for actual hard data, not just an opinion (no offense intended)

dhs said:
I think it will be won as it is the 1st of August and pensioners get paid!
I take it that was said with tongue in cheek?
N_1
 

dhs

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Jul 29, 2009
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I take it that was said with tongue in cheek?
N_1
__________________
I'm so old that I can remember when the air was clean and sex was dirty.


My cheque just arrived!

Cheers

dhs
 

Nameless_1

New member
Nov 7, 2002
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dhs said:
I take it that was said with tongue in cheek?
N_1
__________________
I'm so old that I can remember when the air was clean and sex was dirty.


My cheque just arrived!

Cheers

dhs
Great news dhs. That means the YOU will be buying the next round.
Regards
N_1
 

dhs

New member
Jul 29, 2009
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Nameless_1 said:
Great news dhs. That means the YOU will be buying the next round.
Regards
N_1
That is...pension cheque...not lotto cheque!:D

Yes the next round is on me Fred if Lotto comes through!


Cheers
DHS
 

Fred Zed

Administrator
Dec 31, 1969
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$35 millions Wed

dhs said:
No winner last night!
$23 million for Saturday's draw.

Cheers

DHS
_________________________________

Winning Numbers :
13 14 24 31 40 48
bonus: 44
__________________________________
6/6 Carried Over 0
5/6+ $121,583.80
1 WC
1 Ont
3 Que
5/6 $2,324.90 216
4/6 $75.00 12,684
3/6 $10.00 245,684
2/6+ $5.00 167,651

Next Lotto 6/49 Jackpot: $35 Million Est.

3/6

245684

$10.00

2/6 + Bonus

167651

$5.00
 

dhs

New member
Jul 29, 2009
58
0
0
Fred Zed said:
_________________________________

Winning Numbers :
13 14 24 31 40 48
bonus: 44
__________________________________
6/6 Carried Over 0
5/6+ $121,583.80
1 WC
1 Ont
3 Que
5/6 $2,324.90 216
4/6 $75.00 12,684
3/6 $10.00 245,684
2/6+ $5.00 167,651

Next Lotto 6/49 Jackpot: $35 Million Est.

3/6

245684

$10.00

2/6 + Bonus

167651

$5.00
Are you in Fred?

That will buy a few rounds! :D

Cheers

DHS
 
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