I was looking over this site:
http://www.masslottery.com/games/ins...s-81-2010.html

This ticket (along with all of the others ive seen) shows chances of winning, in this case 1 in 4.77 - a totally worthless statistic. I was after the ROI or EV on each ticket so I did the math manually

$60,480,000 in tickets
$44,135,600 in prize money
= 0.729 EV on each ticket



I have a whole slew of questions about this:

1. It seems this ticket has a finite prize pool and finite amount of tickets - is there any way to see a list of tickets and their (number of tickets left) : (prize pool left) ratio? - if so one could use this strategically to buy tickets.

2. Are all tickets based off of a finite prize pool and finite number of tickets such as this one? or do some tickets just get printed indefinitely with a running prize pool?

3. Is there a place where I can find the EV w/o having to calculate it manually?

4. Are there any minimum required standards/regulations for payouts, odds to win, etc?

1. It seems this ticket has a finite prize pool and finite amount of tickets - is there any way to see a list of tickets and their (number of tickets left) : (prize pool left) ratio? - if so one could use this strategically to buy tickets.
Yes, almost everything that exists in the Universe is finite. There are very few infinite objects (especially when you are talking prize pools and lottery tickets).
2. Are all tickets based off of a finite prize pool and finite number of tickets such as this one? or do some tickets just get printed indefinitely with a running prize pool?
Yes and Yes, or No and No, Yes/No, and No/Yes with some exceptions
3. Is there a place where I can find the EV w/o having to calculate it manually?
No
4. Are there any minimum required standards/regulations for payouts, odds to win, etc?
Yes, absolutely. Contact your local State Lottery Comission, they will let you know all the standards, rules, regulations, procedures, and laws.

what? i think you might want to re-read question 1 and 2 because your responses to each dont apply at all.

im looking at hoosierlottery.com for indiana scratchoffs. it lists the top prizes remaining for each ticket and the totals but doesnt list the lower amounts left or totals.

One of the little-known scandals of many scratch off games is that some states don't stop the game and pull the remaining tickets (or print and distribute more winners) after all possible winners have been sold already. They sell the rest of the tickets with 0% chance for them to win. This allows the state to get their expected EV based on the print run.

So you can never know your EV in the game unless it is one that is continually replenished to keep the same number of unclaimed winners in circulation.

I think you'll find that the EV is fixed somewhere near .5 -- the lottery commission will disclose where the money goes, and you need to understand where ALL of it goes, because they do some funny accounting when they provide payout stats.

does this exist? every ticket ive come across has had a set number of a tickets and a set prize pool, so once that big 1million dollar jackpot ticket has been sold, no one else can get one.

They have them because they bring in revenue obv

When you're looking for data or trying to figure out when runs of tickets are discontinued, it probably depends on your state's specifics. I have no idea if the numbers are actually accurate, but the Ohio Lottery site shows how many are left of every possible prize for every run of instant ticket. (Example: http://www.ohiolottery.com/games/ins...ls.aspx?Id=528 and scroll to bottom) On the other hand, the site doesn't outright tell you the total tickets produced, or remaining, like your lotto.

I don't play instant tickets but I imagine you can calculate a fair bit more with that data, if you can get it all for a particular game. Maybe it's the kind of thing your lotto commission would share with you upon request.

There was a story a few years ago. I can't remember where.. Maybe Indiana. But a handful of guys got together and looking at the Top Prize data on the website figured out it was +EV to buy up all the remaining tickets and the number of top prizes remaining would more than pay for it and they'd make a nice profit. So they criss-crossed the state and bought up every roll of the particular game in like 2 days. (I believe an expired game where no more tickets would get printed up). Well it turned out the lottery website wasn't kept up to date and there were actually no more top prizes left for this game and these guys ended up getting screwed and sued the state lottery for bad information on their website.

Not sure whatever came out of it.

I'd be curious to hear the verdict

So would I -- appreciate any info you can add.

http://www.lotterypost.com/news/148302

New lawsuit claims Indiana Lottery did not award all prizes
Jan. 6, 2007, 9:07 p.m.


http://www.lotterypost.com/news/177937

$20M lawsuit against Hoosier Lottery gets class-action status
Jul. 11, 2008, 1:35 p.m.



I've searched and searched.. Can't find anything more on it.

Im from vegas and thank god we dont have scratch tickets in our grocery stores because the state of Nevada would be $5 richer each time.

I'll hijack this thread with a few Qs:

1.) If you buy a winning ticket (say buy in back etc) is it DEFINITELY -EV to buy your next ticket of the same kind?

2.) Is playing a ticket that is first in the roll guaranteed to lose?

1.) If you buy a winning ticket (say buy in back etc) is it DEFINITELY -EV to buy your next ticket of the same kind?
Yes, in fact, it is DEFINITELY -EV to buy an additional ticket of any kind.

2.) Is playing a ticket that is first in the roll guaranteed to lose?
Yes, if by 'guaranteed to lose' you mean -EV

Thanks -- that cleared up a lot.

I suspect it got laughed off of the docket...

Have you read the links? I'd take that to the Supreme Court.

YES

That's the EV for the state, or whoever is selling them. The buyer pool has an average -$0.27 EV per $1 spent. It would be exactly that per ticket if they are all $1 and all the same.