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Robert Catena, an Orange County businessman has just won the $1,000,000 prize in the Million Dollar Raffle. Robert discovered that he was the winner when he looked in the newspaper on sunday morning. According to him, at first he couldn't believe it - "I stared at the numbers for about 30 minutes, I couldn’t believe it". Now he is planning to invest some of the money in his business and to improve is house. Congratulations Robert!

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California Lottery Payouts Here

knowing Lottery Payouts and Odds

California Lottery Payouts and Odds percentages are estimated by several factors. A couple of factors are the number of lottery players playing the game and the ratio of ticket sales that the lottery is required to offer to the awarding of prizes. Directors must account for the possible estimation of the numbers, as well as the estimation of the winning numbers series. Finally, some lotteries specify that the order of these sssseries must be in order to make a lottery player win; this is another factor that contributes towards the lottery odds.

The exact probability and true odds of winning any game of california lottery often can be found over the Internet. Usually the exact probability and odds of winning the game are printed on the state or provincial lottery commission’s website. Explicating the odds of playing a certain lottery game is a way of being an economical shopper before playing the lottery.

The Chances of Winning

Still, if the players are interested in the practicum and math of lottery payout and odds percentages, here is how it could work in a six number lottery game. You can use the Lotto 6/49, which is in vogue in Canada. It has forty-nine numbers from which to choose. The player must match all of the numbers drawn to hit the jackpot. The odds of this happening are one in 13,983,911, or approximately one in 15 million.
To put these odds of winning the jackpot in perspective, a player needs to pretend to have been taken a sip of the elixir and had been granted the wish of immortality. Let’s just say you can live forever, and you buy one ticket every fortnight. You would have to wait 13,983 weeks. Keep in mind too, that these figures are based on a lottery act that is accepting the numbers called in any order.

Expected Value

Another thing that most california lottery players don’t factor into their predicated numbers is that the jackpots are usually not paid out in lump sum. In certain countries, however, especially the United States of America, the winner gets to opt between a one-time payment and an annuity payment. The one-time payment is usually much smaller, indeed 1/2, of the actual lottery jackpot.
However, this is often more attractive than accepting an offer to receive the original amount which is out over 30 years. Lotteries played online are the ones in which, payments are as low as $30,000 over 30 yrs with a huge final payment in the final year.