ILLINOIS LOTTERY TICKET QUESTION!!?
I usually only buy a few of the $1 scratch-offs out of the machines at like a CVS or something. I'm just wondering how many winning tickets are acually in the machines?? Remember I just get the $1 ones.. I usually get the "Win $500 a week for life" ones.. so that for example, out of those tickets, how many are actually winning tickets in the machine? Because they say you can win up to 5 times with those tickets.. i'm mad becasue I bought 20 of those yesterday & won $10 which is fine, but i'm wondering what are my chances if I bought like 30 or 40 next time? Also.. since the lottery takes 40% off the winning amount.. it would only end up being $200 a week.. but I need the extra money! Thanks for any tips, info, or advice!
- TBLv 79 years agoFavorite Answer
First of all there is no set amount of winning or losing tickets put into the machine you are talking about, it's completely random so there could be 2 winning Jackpot tickets in that machine which would be something because there are only 21 tickets in that game where you win $500 for life but things like that have happened before. A woman a few years ago over the course of a couple of months won a million dollars twice on scratch off tickets from the same store and it turned out she got 2 of the 5 winning tickets in the entire statewide game. Anyway my point is nobody knows how many winners are sent out where because it's completely random. Now for games like this you can check the Illinois Lottery site to see how many of the big prizes are left, that's how I knew there are only 21 tickets in existence for this particular game that will win you $500 for life and of those 21 only 9 are left in circulation. The second prize in that game is $1000, there were 1,050 tickets in existence that would win that and 416 are left in circulation right now. I don't know the game but I am sure there are smaller prizes you can win. Now lets look at the odds for this game as you can find that on the lottery site as well as the back of the ticket, the odds to win a prize in that game are 1 in 4.86. That basically means 1 in 5 tickets is a winner and a lot of those winning tickets are just a free ticket. The odds are stacked against you and it's like that in every lottery game. I don't recommend you buy 30 or 40 of any lottery ticket at any time, like I said you will most likely lose most of your investment or just break even instead of winning a large prize. I will give you the link to the page that shows how many of the big prizes are left, your game is in the left column at the very top.
- John WLv 79 years ago
The Illinois lottery website doesn't have much information on their games. But if you look at a lottery website that does such as Texas and look at one of their $1 games. You'll see that the chances of there being a top prize in any one machine is almost none. For example, in the Texas game Sweet Cash, there were 96 top prizes printed but 11,362,950 tickets printed, there are 150 tickets in a pack so in a pack you could expect there to be 150 * 96 / 11,362,950 tickets with the top prize. so you would expect there to be 0.001 tickets with the top prize, as you can't have a thousandth of a ticket, when you round that off to a whole number, that means you can expect there to be 0 top winning prizes in that machine. You'll also see that there are a guaranteed $72 worth of prizes in the pack so if you bought all $150 of tickets in the pack, you can only expect $72 in prizes, it may be more but it's unlikely to be more. The lottery has a withholding of 25% for federal income taxes for prizes over a certain amount and if your state has an income tax then there will likely be a 8% with holding for state taxes. Those are applied to your income return and aren't really being held by the lottery commission, it's just that in the States lottery winnings count as income and is taxed by the government same as with any income, it's just the incredible lack of education that makes people think the money is being kept from them by the lottery. If you need the money, you shouldn't be buying lottery tickets.
Note that the Illinois website does say there were 21 of those $500 a week prizes printed but it doesn't say how many tickets were printed.Source(s): http://www.txlottery.org/export/sites/lottery/Game... http://www2.illinoislottery.com/subsections/remain...
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- 5 years ago
ILLINOIS LOTTERY TICKET QUESTION!!?
I usually only buy a few of the $1 scratch-offs out of the machines at like a CVS or something. I'm just wondering how many winning tickets are acually in the machines?? Remember I just get the $1 ones.. I usually get the "Win $500 a week for life" ones.. so that for example, out of...Source(s): illinois lottery ticket question: https://trimurl.im/c75/illinois-lottery-ticket-que...
- 6 years ago
if I win 1000.00 on a scratch off can I cash it in where I bought it