FOR MATH AND LEGAL GEEKS ONLY!!!!!
Allright.....otherwise, this is some really boring shit, but I did the analysis, and I figured out exactly how the Oregon Lottery misleads pro football bettors!
One of my friends had wondered that if Sports Action placed the words on their outrageous odds 14-for-14 pick game when nobody won that week: "$18,065.02 rolls into next week's 14 pool"....then, how come after several weeks of NOBODY winning the 14-for-14 pick pool, how come the person that finally DID hit it, got, like, $18,065.02 and not at least $40,000?????
OK.....
He had gotten actual statistics from the Oregon State Lottery (public record....I know too much about that stuff.....) that gave the figures and he forwarded them to me.
Here we go:
NOTE - BE PATIENT AND READ SLOWLY..........
I did tally a few of the figures from the 14-pick pools that were supplied from The Oregon State Lottery Office.
From my calculations, I show 30% of sales to ONLY the 14-pick sales pool going into the 14-pick prize pool.
Thus, let's say that the lottery sold $7046.00 of sales of ONLY 14-pick bets (as they did in draw #904 for the games of 12/24/2006), OF THAT $7046.00 in 14-pick bets placed, they dropped only $2150.43 into the prize pool...or 30.519 blah blah blah percent of SALES into the 14-for-14 PRIZE pool!!!
WTF??? Wait......
The State Lottery says that 60% of sales are paid out as winnings on Sports Action!!!!??!!!
Ooooooooo-Kay! VEEEEERRRRY Clever!
Now, they are NOT stating, but implying, that 60% of ALL money wagered in each specific "division" (including guaranteed-pay 3-pick and 4-pick pools) gets paid out per division (as in, if say $4000 total statewide on a certain week gets bet on 14-for-14, then $2400 of that will get paid out in the 14-for-14 winners)!
Right?
Right??
Right......see below.....
Rules - DIVISION 090 - SPORTS ACTIONsm
177-090-0005 Definitions
(9) “Parimutuel” means a system of wagering in which the money allocated for prizes from the total amount of money
(12) “Prize category” means a division of the prize pool identified by a specific number of events selected by a player.
(13) “Prize pool” means the amount of money allocated from total sales for prizes.
177-090-0040 Prize Pool
(1) General: The prize pool consists of approximately sixty percent of the total amount of money wagered each week.
Sooooooooo, they get off Scot-Free by clever use of "Prize Category"!
So..........let us just pretend that.....
If $10,000 TOTAL Sports Action is bet one week statewide, and let's say that a TON of folks hit four-out-of-four, for, say, a total lottery four-out-of-four payout statewide of $8000, then EVEN IF $3000 was bet ONLY on the 14-pick, only like $1000 would roll into the 14-pick prize pool because they need the rest of the sales proceeds (the remaining $2000 bet on 14-for-14 pick bets) to payout the four-for-four winners!!
Kinda shady and very well misrepresented.....but they saved their asses by explaining "Prize categories" as "divisions" and clever use of the words ".......money allocated from total sales for prizes." Thus, use of the word "total sales" means that the term "Prize pool" covers ALL bets, not just the 14-out-of-14
IDEALLY, they SHOULD have stated "The TOTAL prize pool for all betting categories consists of approximately sixty percent of the total amount of money wagered each week for ALL prize categories."
But they did NOT state "The prize pool IN EACH PRIZE CATEGORY consists of approximately sixty percent of the total amount of money wagered for that specific prize category each week"
IF they did state that, then they woulda hadta pay the 12/25/2006 winner, like, $40,000!!
Thus, when they state in the "results" section that "$18,065.02 rolls into next week's 14 pool" THAT, THAT, THAT $18,065.02 IS THEE Prize. They are talking about the EXISTING prize pool!
They DON'T mean that $18,065.02 in 14-pick ticket SALES is ADDED to the 14-for-14 pot!
In English......what they did was that they used language that (un)clearly states that 60% of ALL sales taken in, regardless of whether it had originated from a four-for-four or a 14-for-14 bet, gets paid out and divided up throughout all categories, including the ones that are guaranteed to pay at a fixed amount (e.g. three-for three and four-for-four winners)!
So that $2 14-for-14 bet you made and lost on?? It is actually being used to pay out someone else's four-for-four pick winner INSTEAD of getting added into the 14-for-14 prize pool!!
Whatever is left over AFTER paying the winners of the guaranteed flat-rate payout amounts of three-for-three and four-for-four THEN gets divvied up to the rolled-forward prize pools of the para-mutual categories (five-for-five and higher)!
THAT is the killer, as, statewide, 3-for-3 and 4-for-4 account for the vast majority of what Sports Action pays out. See, in that 12/25/2006 example (post a comment to me and I'll E-Mail you the official Oregon Lottery records on .pdf), they took in sales of 4-for-4 bets of $274,830 but yet they WERE OBLIGATED TO PAY OUT $384,170 in four-for-four winnings that week. If you look carefully at the charts, you'll also note that $973,318 was brought forward for the four-for-four pool.......as a sort of insurance policy in case mega-shitloads of people statewide hit the four-for-four that the Oregon Lottery is legally guaranteed to pay out at a specific flat rate (on four-for-four hits, your winnings are 10X the amount bet)!!!
Now the fives suck because they allotted 50% of five pick sales ($15,786) to the five-pick prize pool ($7,400.47) and they paid out $21.40 on a $2 five pick that particular week, or a total of $6,940 to ALL five-pick winners statewide! And the lottery brought the remaining $500 forward to pay out other pools next week!!!
You see?? It's a really good way for them to edge up their profits!
Thus, even by MY dodgy standards, they'd be un-sue-able as they DID INDEED cover their asses in the language they utilised........
Goddamm, these guys are good......
CUTE, huh?????
Assholes!!!
Seems AT BEST to be rather misleading.....at worst, an out-and-outright scam.......
I gotta run.....I should quit my job as a planner and become a bookie!!! :-)
Can figure out HOW EXACTLY The Oregon State Lottery rooks people and misleads them.........yet, I STILL can't do a simple Soduku puzzle......
-E-
Allright.....otherwise, this is some really boring shit, but I did the analysis, and I figured out exactly how the Oregon Lottery misleads pro football bettors!
One of my friends had wondered that if Sports Action placed the words on their outrageous odds 14-for-14 pick game when nobody won that week: "$18,065.02 rolls into next week's 14 pool"....then, how come after several weeks of NOBODY winning the 14-for-14 pick pool, how come the person that finally DID hit it, got, like, $18,065.02 and not at least $40,000?????
OK.....
He had gotten actual statistics from the Oregon State Lottery (public record....I know too much about that stuff.....) that gave the figures and he forwarded them to me.
Here we go:
NOTE - BE PATIENT AND READ SLOWLY..........
I did tally a few of the figures from the 14-pick pools that were supplied from The Oregon State Lottery Office.
From my calculations, I show 30% of sales to ONLY the 14-pick sales pool going into the 14-pick prize pool.
Thus, let's say that the lottery sold $7046.00 of sales of ONLY 14-pick bets (as they did in draw #904 for the games of 12/24/2006), OF THAT $7046.00 in 14-pick bets placed, they dropped only $2150.43 into the prize pool...or 30.519 blah blah blah percent of SALES into the 14-for-14 PRIZE pool!!!
WTF??? Wait......
The State Lottery says that 60% of sales are paid out as winnings on Sports Action!!!!??!!!
Ooooooooo-Kay! VEEEEERRRRY Clever!
Now, they are NOT stating, but implying, that 60% of ALL money wagered in each specific "division" (including guaranteed-pay 3-pick and 4-pick pools) gets paid out per division (as in, if say $4000 total statewide on a certain week gets bet on 14-for-14, then $2400 of that will get paid out in the 14-for-14 winners)!
Right?
Right??
Right......see below.....
Rules - DIVISION 090 - SPORTS ACTIONsm
177-090-0005 Definitions
(9) “Parimutuel” means a system of wagering in which the money allocated for prizes from the total amount of money
(12) “Prize category” means a division of the prize pool identified by a specific number of events selected by a player.
(13) “Prize pool” means the amount of money allocated from total sales for prizes.
177-090-0040 Prize Pool
(1) General: The prize pool consists of approximately sixty percent of the total amount of money wagered each week.
Sooooooooo, they get off Scot-Free by clever use of "Prize Category"!
So..........let us just pretend that.....
If $10,000 TOTAL Sports Action is bet one week statewide, and let's say that a TON of folks hit four-out-of-four, for, say, a total lottery four-out-of-four payout statewide of $8000, then EVEN IF $3000 was bet ONLY on the 14-pick, only like $1000 would roll into the 14-pick prize pool because they need the rest of the sales proceeds (the remaining $2000 bet on 14-for-14 pick bets) to payout the four-for-four winners!!
Kinda shady and very well misrepresented.....but they saved their asses by explaining "Prize categories" as "divisions" and clever use of the words ".......money allocated from total sales for prizes." Thus, use of the word "total sales" means that the term "Prize pool" covers ALL bets, not just the 14-out-of-14
IDEALLY, they SHOULD have stated "The TOTAL prize pool for all betting categories consists of approximately sixty percent of the total amount of money wagered each week for ALL prize categories."
But they did NOT state "The prize pool IN EACH PRIZE CATEGORY consists of approximately sixty percent of the total amount of money wagered for that specific prize category each week"
IF they did state that, then they woulda hadta pay the 12/25/2006 winner, like, $40,000!!
Thus, when they state in the "results" section that "$18,065.02 rolls into next week's 14 pool" THAT, THAT, THAT $18,065.02 IS THEE Prize. They are talking about the EXISTING prize pool!
They DON'T mean that $18,065.02 in 14-pick ticket SALES is ADDED to the 14-for-14 pot!
In English......what they did was that they used language that (un)clearly states that 60% of ALL sales taken in, regardless of whether it had originated from a four-for-four or a 14-for-14 bet, gets paid out and divided up throughout all categories, including the ones that are guaranteed to pay at a fixed amount (e.g. three-for three and four-for-four winners)!
So that $2 14-for-14 bet you made and lost on?? It is actually being used to pay out someone else's four-for-four pick winner INSTEAD of getting added into the 14-for-14 prize pool!!
THAT is bullshit....and that's the way they do it!
Whatever is left over AFTER paying the winners of the guaranteed flat-rate payout amounts of three-for-three and four-for-four THEN gets divvied up to the rolled-forward prize pools of the para-mutual categories (five-for-five and higher)!
THAT is the killer, as, statewide, 3-for-3 and 4-for-4 account for the vast majority of what Sports Action pays out. See, in that 12/25/2006 example (post a comment to me and I'll E-Mail you the official Oregon Lottery records on .pdf), they took in sales of 4-for-4 bets of $274,830 but yet they WERE OBLIGATED TO PAY OUT $384,170 in four-for-four winnings that week. If you look carefully at the charts, you'll also note that $973,318 was brought forward for the four-for-four pool.......as a sort of insurance policy in case mega-shitloads of people statewide hit the four-for-four that the Oregon Lottery is legally guaranteed to pay out at a specific flat rate (on four-for-four hits, your winnings are 10X the amount bet)!!!
Now the fives suck because they allotted 50% of five pick sales ($15,786) to the five-pick prize pool ($7,400.47) and they paid out $21.40 on a $2 five pick that particular week, or a total of $6,940 to ALL five-pick winners statewide! And the lottery brought the remaining $500 forward to pay out other pools next week!!!
You see?? It's a really good way for them to edge up their profits!
Thus, even by MY dodgy standards, they'd be un-sue-able as they DID INDEED cover their asses in the language they utilised........
Goddamm, these guys are good......
CUTE, huh?????
Assholes!!!
Seems AT BEST to be rather misleading.....at worst, an out-and-outright scam.......
I gotta run.....I should quit my job as a planner and become a bookie!!! :-)
Can figure out HOW EXACTLY The Oregon State Lottery rooks people and misleads them.........yet, I STILL can't do a simple Soduku puzzle......
-E-
posted by CN250 at 1:10 AM
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