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Scratch card payouts

  • 15-04-2004 11:54pm
    #1
    Capt'n Midnight
    Moderators, Recreation & Hobbies Moderators, Science, Health & Environment Moderators, Technology & Internet Moderators Posts: 92,550 Mod ✭✭✭✭


    If you get 10 scratch cards for (say) €1 each you will probably win nothing - but lets say you win two free card and €2. Now many people will probably buy another two cards with the €2 (that is the reason for such a low prize) and of these four cards you win another scratch card. And it's a dud.


    So the lotto have sold €10 of card and given out €5 worth of prizes - that is a payout of 50% - but you feel a little miffed 'cos you've no money left.

    So what is the maximum payout a lottery can give and still remain profitable ...

    (Assume players arent totally stupid and if there is a way of milking the system they will do so.)


Comments

  • #2
    The Real B-man
    Moderators, Society & Culture Moderators Posts: 3,740 Mod ✭✭✭✭The Real B-man


    The National Lottery:
    FOOLS TAX


  • #3
    Capt'n Midnight
    Moderators, Recreation & Hobbies Moderators, Science, Health & Environment Moderators, Technology & Internet Moderators Posts: 92,550 Mod ✭✭✭✭Capt'n Midnight


    Actually I've always considered it a self-assesment tax on optimism.


  • #4
    Syth
    Registered Users, Registered Users 2 Posts: 1,865 ✭✭✭Syth


    Nah, stupidity tax it is. The more you have, the more you pay.


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