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  1. #1
    ABW Ambassador Packy's Avatar
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    Whats the odds on one of the biggest dates in History on the 1 year anniversary of a certain Lottery number coming up. The New York Lottery besides. To me its kind of errie.

    Yesterdays Pick 3 Numbers for NY State. 911
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  2. #2
    ABW Adviser Panel Dynamoo's Avatar
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    From CNN - Lottery officials won't know until Thursday morning how many people played those numbers or the total payout, she said.

    Wowsers.

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  3. #3
    ABW Ambassador Packy's Avatar
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    Eeeeks, I wonder if were bankrupt? We use to (at least I think) put a cap on how many times certain numbers can be picked and then couldn't be sold anymore once a certain amt of people played them. At least I hope it's like that anyways. Gonna cost alot I would think to pay off all the winners.

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  4. #4
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    To make it even stranger, the S&P closed at 911 the night before. I guess that technically, that means it opened at 911 yesterday.

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  5. #5
    Affiliate Manager Lionstail's Avatar
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    The odds of that number coming up were one in one thousand. Most States that do three number lotteries pay out 50%, meaning that if the purchase price was $1, the payout for each person would be $500 and the lottery would keep the other $500 for itself. This works if 0.1% of the people pick the winning number, which should be the average number of players picking the winning number on any given night. If 0.2% of the people pick the winning number, they break even. More than that, they lose. I have no idea what percent played that this time, though I'm betting it was above 0.2%. Dave

  6. #6
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    Yes, the odds of that number coming up is 1 in 1000, but the odds of it happening on 9/11 would be (remembering old skool stats) 1000*365 or 1 in 365,000.

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  7. #7
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    DaPackster,

    <BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>We use to (at least I think) put a cap on how many times certain numbers can be picked and then couldn't be sold anymore once a certain amt of people played them.<HR></BLOCKQUOTE>

    You're right. The article I read today said that the number was closed out, and that:

    "The Lottery routinely closes out betting on a number when its liability would reach $5 million if that number wins. On average, the Lottery closes out between seven and 10 numbers every day . . ."

    This is "the house" we're playing against. ;

  8. #8
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    Actually in most states lotteries pay out on a parimutuel basis; a certain percentage (typically 40% to 50%) is *divided equally* amongst all winners.

    Let's say there is $1000 in the kitty, and the payout is 50%:

    If one person hits the number, it pays $500.

    If ten people hit the number, it pays $50.

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  9. #9
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    <BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>Originally posted by Pete:
    Yes, the odds of that number coming up is 1 in 1000, but the odds of it happening on 9/11 would be (remembering old skool stats) 1000*365 or 1 in 365,000._Tick_<HR></BLOCKQUOTE>

    Actually, the date doesn't increase the odds. They're still 1 in 999 (not 1 in 1000 which is an oversimplification by the media)

    Where the odds would increase is e.g. if you had to get 9/11 and 9/12 (911 and 912) drawn on the respective dates, which in this case would equal a probability of 1/999*1/999 or 1/998001

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