strictlyAP
strictlyAP
Joined: Jun 20, 2012
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August 16th, 2014 at 9:09:37 PM permalink
http://www.bizjournals.com/baltimore/news/2014/08/15/so-many-pick-4-players-are-winning-that-its.html
The bet will not be paid- not now not ever
tringlomane
tringlomane
Joined: Aug 25, 2012
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August 16th, 2014 at 9:28:17 PM permalink
This 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.”
onenickelmiracle
onenickelmiracle
Joined: Jan 26, 2012
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August 16th, 2014 at 9:53:55 PM permalink
Lotto is such a rip off they have no reason to complain. Everyone gets rich but the players thanks to the lottery. New slogan should be "Lotto: You might be dumb enough to win if you ever thought maybe this dollar could buy everything you want in life."
#FreeNATHAN #Paytheslaves
strictlyAP
strictlyAP
Joined: Jun 20, 2012
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August 16th, 2014 at 9:57:59 PM permalink
unless its inside job no way this is probable
The bet will not be paid- not now not ever
tringlomane
tringlomane
Joined: Aug 25, 2012
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August 16th, 2014 at 10:16:31 PM permalink
Quote: strictlyAP

unless its inside job no way this is probable



Agreed. This makes no sense whatsoever.
onenickelmiracle
onenickelmiracle
Joined: Jan 26, 2012
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August 16th, 2014 at 10:24:00 PM permalink
Weren't they talking only about one month? I noticed some numbers like 2222 paid out over a million in Ohio, other days numbers pay under 100k, so just assumed a few popular numbers hit soon together. West Virginia will limit numbers sold if too many are bought, so it's really about taking the money or not.
#FreeNATHAN #Paytheslaves
JB
Administrator
JB
Joined: Oct 14, 2009
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Thanks for this post from:
onenickelmiracle
August 16th, 2014 at 11:19:11 PM permalink
The Pick 4 game is high-variance (95.77 to 2499.75 depending on the type of bet), and with such a small sample size (approximately 60 drawings), anything could happen. I'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.
FleaStiff
FleaStiff 
Joined: Oct 19, 2009
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August 16th, 2014 at 11:22:59 PM permalink
Quote: tringlomane

This 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.
AZDuffman
AZDuffman
Joined: Nov 2, 2009
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August 17th, 2014 at 4:53:43 AM permalink
Quote: tringlomane

This 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.
Tolerance is the virtue of believing in nothing
JohnnyQ
JohnnyQ
Joined: Nov 3, 2009
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August 17th, 2014 at 5:00:31 AM permalink
Quote: JB

I'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
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