Joe-b-1 Posted September 30, 2013 Share Posted September 30, 2013 I`m not 100% sure how it all works out, but if there are less players (winners) doesn`t that mean that with the big prizes there is less people to share the winnings amongst, so the payout to each winner becomes greater. No because the prize pool will get smaller in direct proportion to the number of players. ie, if there are 40% less players then there will be 40% less in the prize pool. Doubling the price of a ticket however will basically have the same effect as everyone being told that you must buy 2 tickets at a time now for any given draw and that you have to put the same numbers on both of them. If the same amount of people were to play any winner would have 2 winning tickets so double the prize money for double the stake, however I very much doubt that there will be the same amount of players so proportionately less winnings for each pound. I wonder if someone who has a £10 bet on a horse race occasionally put up with being told that only £20 bets are acceptable? Link to comment Share on other sites More sharing options...
Obelix Posted October 1, 2013 Share Posted October 1, 2013 I`m not 100% sure how it all works out, but if there are less players (winners) doesn`t that mean that with the big prizes there is less people to share the winnings amongst, so the payout to each winner becomes greater. Not really The jackpot is shared equally amongst all the tickets who matched the numbers. If only half as many people play, then the jackpot pool is halved, but there are only going to be half as many winning tickets so the pool is only split half as much - end result the average jackpot prize is the same. Link to comment Share on other sites More sharing options...
Manlinose Posted October 1, 2013 Share Posted October 1, 2013 i'm no statistician, but, if everyone who plays the lottery still only spends the same amount, the prize fund won't increase, but the potential number of winning tickets will halve so the chances of winning will be reduced but the prizes will be higher or am i missing something? Link to comment Share on other sites More sharing options...
Joe-b-1 Posted October 1, 2013 Share Posted October 1, 2013 i'm no statistician, but, if everyone who plays the lottery still only spends the same amount, the prize fund won't increase, but the potential number of winning tickets will halve so the chances of winning will be reduced but the prizes will be higher or am i missing something? It will be impossible for people who have one ticket to spend the same amount. If what you mean is if the total spend on a weeks lottery is the same with less (half) the amount of tickets the prize pool will be exactly the same. The chances of winning will remain the same for each ticket since the probability of a particular ticket winning is not affected by how many tickets there are. Since there will be half the amount of tickets in this situation then instead of say 4 people on average (made up number used to facilitate my explanation) winning you would expect 2 people. So yes the actual amount won would be doubled but so is the stake so each pound still wins the same amount (on average as it wouldn't be quite as simple as this). Think of a horse race, if you put £1 on at 2-1 you get £3 back, if you put £2 on at 2-1 you get £6 back which is still £3 for each £1 staked. This is basically the same principle Link to comment Share on other sites More sharing options...
Joanl Posted October 1, 2013 Share Posted October 1, 2013 Apparently, 3 numbers will pay £25 from Saturday instead of £10 as is now....... Link to comment Share on other sites More sharing options...
Joe-b-1 Posted October 1, 2013 Share Posted October 1, 2013 If so, it looks as if the whole prize structure may have changed which negates all of the previous discussion on this thread. Link to comment Share on other sites More sharing options...
Mikes10 Posted October 1, 2013 Share Posted October 1, 2013 It with the increased cost of ticket Camelot expect the prize fund to increase: The updated game will also include an increase in the prize for matching three numbers from £10 to £25 and an anticipated increase in size of the average jackpot prizes from £3.9m to £5m for the Saturday draw and from £2.1m to £2.5m for the Wednesday draw. It will be really interesting if people transfer their loyalty to a charity lottery game. Link to comment Share on other sites More sharing options...
watchcoll Posted October 1, 2013 Share Posted October 1, 2013 There is also now a raffle for every draw that guarantees 25 winners of £20000 (i think) each draw, bit like the euromillions one. If fewer people now buy tickets then you'd have a greater chance of winning the raffle prize, & every rollover it doubles to 50 winners, 100 winners etc What they haven't advertised much is that the prizes for matching 4/5/5 & bonus ball have pretty much halved compared to before. I never play anyway. So doesnt affect me. Link to comment Share on other sites More sharing options...
Bruno Posted October 1, 2013 Share Posted October 1, 2013 It with the increased cost of ticket Camelot expect the prize fund to increase: The updated game will also include an increase in the prize for matching three numbers from £10 to £25 and an anticipated increase in size of the average jackpot prizes from £3.9m to £5m for the Saturday draw and from £2.1m to £2.5m for the Wednesday draw. It will be really interesting if people transfer their loyalty to a charity lottery game. Think I read somewhere that although three numbers pay 25 the prize for four and five numbers is lower. Link to comment Share on other sites More sharing options...
Manlinose Posted October 2, 2013 Share Posted October 2, 2013 If so, it looks as if the whole prize structure may have changed which negates all of the previous discussion on this thread. maybe, but at least your explanation made sense - thank you Link to comment Share on other sites More sharing options...
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