maryland lottery- im not buying this story
“Our Pick 4 is killing us,” Martino said at a Maryland Lottery and Gaming Control Commission on Thursday. “The percentage of payout is astronomical. ... We’ll pay out sometimes several hundred percent of what we take in.”
Quote: strictlyAPunless its inside job no way this is probable
Agreed. This makes no sense whatsoever.
Quote: tringlomaneThis had to be BS, or they seriously screwed up the payout.
“Our Pick 4 is killing us,” Martino said at a Maryland Lottery and Gaming Control Commission on Thursday. “The percentage of payout is astronomical. ... We’ll pay out sometimes several hundred percent of what we take in.”
So everyone rushes out to buy Pick 4 and win before it disappears ... and low and behold... a few months later they get another compliant reporter to write a scare story.
Everyone knew when 000 came up in the numbers, Dutch Schultz would be killed. Other than that, ANY number made him money.
Its the same way with the lottery. Find a few months of results that make good headlines and then send a bottle of Scotch to a reporter.
Quote: tringlomaneThis had to be BS, or they seriously screwed up the payout.
“Our Pick 4 is killing us,” Martino said at a Maryland Lottery and Gaming Control Commission on Thursday. “The percentage of payout is astronomical. ... We’ll pay out sometimes several hundred percent of what we take in.”
Sounds like they need some better risk management. In PA the lottery will close numbers that have too high a play for the day. Not sure if they did this before the famous fixing back in about 1980 or not but they do it. Every now and then a popular number will be locked out for weeks as people hear it was locked and figure it is "due."
Only government could lose money running a numbers game.
Quote: JBI'm sure if they published their results from day one to today (as opposed to just cherry-picking the results of a particular month), they have likely made very close to the 50% (straight bets) or 52% (box bets) profit as expected.
Those are outrageous figures for the "house edge". And the reporter didn't think it was worth reporting those ? Her editor and whatever journalism school she attended should be ashamed of themselves.
Paytable Chart
Quote: WizardTerrible reporting. How about some numbers as evidence?
They used numbers. The story is about the Pick 4
Isn't the pick 4 usually parimutuel for just this reason?
There are three types of advertising, classifieds, display ads and news articles.Quote: JohnnyQThose are outrageous figures for the "house edge". And the reporter didn't think it was worth reporting those ? Her editor and whatever journalism school she attended should be ashamed of themselves.
Quote: tringlomaneThis had to be BS, or they seriously screwed up the payout.
Quote: article“Our Pick 4 is killing us,” Martino said at a Maryland Lottery and Gaming Control Commission on Thursday. “The percentage of payout is astronomical. ... We’ll pay out sometimes several hundred percent of what we take in.”
It's conceivable that a higher than proportional number of players are betting winning numbers.
No pity for any operator of a game with a 50% edge who loses.
Sure, some days they'll payout 3 or 4 times what they take in... and many other days they'll take in much more than they pay out.
