Winning the lottery – Understand the prize breakdown

When people buy lotteries, they assume that they get the whole pot.  This is not true.

If you look at the prize breakdown, you actually get a piece of the pot.

80.50%+5.75%+4.75%+9%=100% of the winnings.

As you can see from the link below, if you get all 6 numbers, you win or share 80.5% of the pot.  The rest is divided among the other winners.  Therefore, a person who gets 4/6 numbers will get 9% of the pot win or share.

If the jackpot is 20 million dollars, and only one person gets 4/6 numbers, he/she will get 9% or 1.8 million dollars since he/she does not have to share.  This would be nice.

Therefore, if a person says that he/she will be happy with the 20 million jackpot, you can correct him/her.  He/she gets part of the pot and not the whole.

https://www.bclc.com/app/DidYouWin/WinningNumbers/Lotto649.asp

Match               Win
6/6                    80.50% of the Pool’s Fund(1), Share of Pool(3)
5/6+Bonus     5.75% of the Pool’s Fund, Share of Pool(3)
5/6                    4.75% of the Pool’s Fund, Share of Pool(3)
4/6                    9% of the Pool’s Fund, Share of Pool(3)
3/6                    $10 prize from the Prize Fund
2/6+Bonus     $5  prize from the Prize Fund

https://www.bclc.com/app/DidYouWin/WinningNumbers/LottoSuper7.asp

Match               Win
7/7                    73% of the Pool’s Fund
6/7+Bonus     5% of the Pool’s Fund
6/7                     5% of the Pool’s Fund (win or share)
5/7                     17% of the Pool’s Fund (win or share)
4/7                    $10 3/7+Bonus     $10
3/7     Free Play ($2 value-three QuickPick selections)
* Win or share

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