So you think your number is due?

[MikeDee]

Due column wagers at their very best. Ask Pat Murray how it is done.

Check this out


http://www.cleveland.com/ohio/plaindealer/index.ssf?/base/news/1044354625213850.xml

[GR1@HTR]

Ouch, the lotto take out in Tx is something like 32%, probably similiar in Oh. The guy shoulda tried the ponies instead...

[sq764]

Now I don't feel so bad for backing up my pick 4 in the last leg the other night at Delta, then hitting the pick 4, and realizing I cut my profits in half because of all the backup losses :-)

[JustRalph]

I lived in Ohio most of my life (up until a couple of months ago) and the Ohio Lottery is a joke. They have people standing in bread Lines in southern Ohio and they buy more tickets in the poor sections than anywhere else. The Black community in the larger cities play like its a retirement fund. It's disgraceful. A study in the Cleveland area years ago found that one dollar out of every 12 earned in the black community in Cleveland was spent on the lottery. Now they play the pick 3 twice a day. The takeout is about 40% if I remember right. Of which only 40% of that goes to the schools. The rest is spent on administrative charges and salaries for lottery officials. When they first proposed it in the late 70's they said it would take the place of real estate funding for school systems. yeah right............ the state says the lottery is only providing 25% percent of what was projected. The state is under a court order right now to spend at least 112 million more each year for the next 5 years in poor school districts. They just keep coming up with more scratch off games........... And the Governor here in California just raised our tax rate again. In some counties they are going to be paying just short of 10% state tax on every purchase. What the hell is next?

[MikeDee]

The list of state gov with budget shortfalls is quite long. I contunue to be amused with governments like Oh who are steadfast in opposing slots at tracks and internet wagering from home, while they run the biggest gambling operation in their states.

[Derek2U]

Ground Control 2 Major TOM ..... I just kinda imagined what
those 3 guys left UP there in the space station must be Feeling.
Yikes. I got no complaints at all, Do You?

[Tom]

Originally posted by Derek2U
Ground Control 2 Major TOM ..... I just kinda imagined what
those 3 guys left UP there in the space station must be Feeling.
Yikes. I got no complaints at all, Do You?

Not a one that means anything, when you look at it like that!

[hurrikane]

the lottery. They call it the stupid tax...because you have to wait in line to pay it. Fitting name.

[GR1@HTR]

I agree...Lotto sucks...It takes money from the poor and is bad for the economy...$$$ normally spent on good and services is now spent on a horrible money sucking event. In Tx a while back, the lotto sales were lagging and the state wanted to do something to boost their income...so guess what they did? Increase the take out for the states benefit...

[andicap]

what I really hate about the Lotto is standing behind someone waiting to buy a paper and they're shooting out 30 tickets -- and you know they can't afford it. I mean that's their 401K plan.

[anotherdave]

According to the article they would pay 50-1 on a 100-1 bet, so the takeout on that paricular bet is 50%. Here in Canada the takeout is around 50-55%. Hey, when the mafia ran numbers they only took out 50%.

AD

[Tom]

The "24" has been working good on a private farm. Should be in the hunt this week. Looking at a wheel. The "4" is always tough in cold weather. Can't say the 33 looks too good lately-may be tailing off. 40 and 41 are JOFE. 1 is ok for pick 5 but never hangs on in lotto.
Good luck!

[BillW]

Originally posted by anotherdave
According to the article they would pay 50-1 on a 100-1 bet, so the takeout on that paricular bet is 50%. Here in Canada the takeout is around 50-55%. Hey, when the mafia ran numbers they only took out 50%.

AD

I thought I remembered the daily number paying $600 straight.

Texas pays $500 (at least the last I looked) :o

[anotherdave]

I just notice the article said:

"With a split-pair bet, a bettor must correctly choose the first and third numbers.

Murray also followed his pattern of placing $5 on each bet. A win meant a payoff of $250, an amount that was below the threshold for reporting income to the Internal Revenue Service. "

Getting the 1st and 3rd number correct is a 1 in 100 shot. And he's betting 5 to get 250 so that is a fair pay for a 1 in 50 shot.

That's where I got the values from. If all 3 correct pays $500 that's a 50% take too. Depends on the jurisdiction.

AD

[rrbauer]

anotherdave wrote:
Hey, when the mafia ran numbers they only took out 50%.



Comment:
And, they let you play on credit without writing a check....but, you better not miss that payment!

[so.cal.fan]

When they installed the Lottery in Calif. money was suppose to go to schools.
We have some of the worst public schools in the US.
Our state is bankrupt.
I agree that it takes money from the poor, and I would really like to know who gets the money?
Does anyone know? I'm serious.
:confused: :confused: :confused:

[cj]

Governor Davis could probably answer better than I...vote Republican in that state for a change, how much worse could it be?

CJ

[Derek2U]

a B+ NY group calld Nada Surf has a Very enjoyable CD out
called "Let Go" and I recommend it.

[freeneasy]

Did you see the news coverage they did on some of the High schools here in the L.A. area So.Cal? their main focus was on the conditions of the restrooms, and let me tell you So. Cal. the last time I saw a restroom in the conditions that some of those high school restrooms were in was when I stopped in at some old beat up run down near abandoned gas station in the middle of some mule town. Beyond and long past shame and disgrace. Yeah, Lotto. FY. After seeing that demonstration of Lotto promisies to help maintain our schools , I wouldnt buy a Fkg ticket if you broke my arm.

[andicap]

Its long been known in New York that Lotto money goes into the general fund. It's all accounting anyway. They can put the Lotto money in the education fund and then take money out of the education fund.
Lotto does help raise a ton of money for the states -- so that's good. But it's a sucker's bet and is regressive: it's basically a tax on the poor people who believe they have no hope to be rich other than a lightning strike of a shot in the Lotto. From that perspective it's terrible, a tax on the poor. (Yes, yes, poor people don't have to play it. Well I agree. Free will. That's why I wouldn't outlaw it. I just wish people who can't afford it would put the money into a savings account or something.)