Lotto / Euromillions

Degag · 06-10-2021 5:20pm #1

May have been other threads on this topic, not sure, but the payout structure of the Irish Lotto and the Euromillions is fairly terrible.

In last nights EM draw there were about 2.8 million prizewinners. Great you might say. But only about 6000 of them got 50 quid or more. 2.77 million got 12 quid or less. I just don't get the point. Maybe i'm the outlier here but i don't think too many people care about getting 12 euro or less back from a ticket.

Those 2.8m people shared nearly 14m in prize money. Why not make 14 new millionaires? Or give 140 people 100k? Something that could be construed as someway lifechanging at least.

The Irish Lotto is not much better (or not at all maybe). Last Wednesday it reached it's highest ever jackpot i believe, which wasn't won - 19m. What was the highest prize won?

€1500.

By 43 people.

And lets not mention all the money going over to Canada.

Croohur1 · 06-10-2021 5:32pm

According to the most recent Lotto results, two winners won 826,392 euros each on last Saturdays draw with Match 5 + Bonus. Not disagreeing with your general point, but thats not a bad payout for those two. If you do the Lotto, you have to assume your money is gone, the odds are not in your favour.

Degag · 06-10-2021 5:40pm

https://www.boards.ie/discussion/comment/117985118#Comment_117985118

That was because the jackpot couldn't go any higher so they had to redistribute the money that ordinarily would go towards the jackpot. Ordinarily those people would have won multiples less than the 800k i imagine.

Sure, you have to assume your money is gone. And the only way you should get it back is with a substantial (relatively) win!

Croohur1 · 06-10-2021 6:46pm

Ah, I see what you mean! Right, I'm with you 100%! I do plan on winning it outright tonight mind you. So from next Saturday on...

Boooourns · 06-10-2021 10:35pm

I just had 5 numbers on the lotto tonight. It's a crazy bittersweet feeling.

Shao Kahn · 07-10-2021 5:41am

https://www.boards.ie/discussion/comment/117986324#Comment_117986324

Yes, "bittersweet" that's one way of putting it alright.

Another way of putting it would be... "@£$%&* ... $%££&#@"

If I missed out on the jackpot by like one number, and won a small amount, I'd probably end up punching a wall in frustration. Then going to A&E and spending more than I won just to fix my broken hand. End up with a net loss from winning the lotto!

Better to just not play the lotto me thinks. I can live with being unlucky in a more mundane general everyday sense. lol

Tom Mann Centuria · 07-10-2021 5:52am

https://www.boards.ie/discussion/comment/117986324#Comment_117986324

A euro in the betting office on 5 numbers in the Euromillions would have won you half a million. Hope that didn't make you feel worse.

sydthebeat · 07-10-2021 6:28am

https://www.boards.ie/discussion/comment/117986582#Comment_117986582

Not the same odds at all, if that makes the poster feel any better

Boooourns · 07-10-2021 7:23am

https://www.boards.ie/discussion/comment/117986582#Comment_117986582

Well you have to pick the exact 5 numbers and not 5 from 6. So no that actually doesn't bother me at all.

Does bother me it's such a low payout for 5 in the lotto alright ha!

Tom Mann Centuria · 07-10-2021 7:26am

https://www.boards.ie/discussion/comment/117986716#Comment_117986716

I remember donkeys years ago my mum and dad got five numbers in the UK lottery and won about 2 grand. Pathetic really, that or they won loads and just didn't tell us kids.....

Now all those trips they used to take without us make sense.

Parachutes · 07-10-2021 7:37am

Never done it, know people that do it religiously. If you get a bit of enjoyment out of checking the numbers there’s worse you could be spending your money on.

Dempo1 · 07-10-2021 7:43am

Just curious on the prizes for 5 + Bonus on Lotto jackpot Draw last night. 2 lucky people won €565k, congrats to them.

Curiously however, it struck me that in the last Draw were the Jackpot prize is the same due to capping , 2 lucky winners with 5 + Bonus got €826k. Assuming the pot has increased to facilitate more prizes etc (Allegedly) can someone explain why this weeks 5+ Bonus winners got far less in prize money, seems very very odd .

I'm not one of the winners by the way 🙄🙄🙄😏

Boooourns · 07-10-2021 7:48am

https://www.boards.ie/discussion/comment/117986759#Comment_117986759

I never do it tbh, just done it on a break in work because I saw it was so high and it was a bit of craic.

Logged in and saw my winnings a got a great buzz off it, then saw I had 5 numbers and realising I was so close ha, but in actual fact to get the 6th is still about 42-1 from there. It was a good what could have been moment.

Scary amount to win though, your life turns on its head.

NIMAN · 07-10-2021 7:53am

Apparently its raising a wil' pile of cash for good causes, if you believe the radio adverts.

But making multiples more for the company that owns it.

strawdog · 07-10-2021 7:58am

Yeah look it's a stupidity tax but I still do it fairly regularly knowing that. It's the hope, the little bit of excitement, and the regular disappointment / occasional mild pleasure when you check. It also serves as a reminder that I need to keep thinking of ways to get myself out of the rat race!

ednwireland · 07-10-2021 8:12am

https://www.boards.ie/discussion/comment/117986821#Comment_117986821

unfortunately you used to apply to the lottery for funding and now its distributed by gov departments so as far as i see top sup general funding. you see a lot less small groups getting funding these days (or that may be that we dont have a gov. minister)

NIMAN · 07-10-2021 8:14am

I'd say I spend maybe €20 per year on it. Only do it when there is a huge jackpot, like the last couple of weeks.

But spend the minimum amount each time. And always QP.

lisasimpson · 07-10-2021 8:18am

Moreand more playin the lotto via bookies now. Way better payouts. Actually it was quite funny Joe Duffy ome day during the summer whether there should be a ban on people playing the lotto in bookies. Only buy a ticket on payday thinking of switching to playing in bookies

pgj2015 · 07-10-2021 8:23am

https://www.boards.ie/discussion/comment/117986806#Comment_117986806

How much did you win?

Parachutes · 07-10-2021 8:32am

https://www.boards.ie/discussion/comment/117986907#Comment_117986907

I’m not aware of this, how is it different?

Boooourns · 07-10-2021 9:10am

https://www.boards.ie/discussion/comment/117986931#Comment_117986931

Screenshot_2021-10-07-10-08-34-75_4cfcffb16b1fefc8f28827562b023be8.jpg

48 of us won 1,472. Not sure how I'm getting yet ha!

pgj2015 · 07-10-2021 9:24am

https://www.boards.ie/discussion/comment/117987117#Comment_117987117

What are you going to do with the winnings? nice to get it.

Dempo1 · 07-10-2021 9:25am

https://www.boards.ie/discussion/comment/117987117#Comment_117987117

I wasn't one 😄, I'm still wondering why the 5+Bonus payouts much less this week , it was €826k paid out last week with same Jackpot and also 2 people got the 5+ Bonus previous week

nj27 · 07-10-2021 9:32am

Why do they put a cap on the jackpot? Would be better if it just kept going up and up until somebody wins.

pgj2015 · 07-10-2021 9:34am

https://www.boards.ie/discussion/comment/117987228#Comment_117987228

They should cap it but the money left over should go to good causes.

RGARDINR · 07-10-2021 9:34am

https://www.boards.ie/discussion/comment/117987186#Comment_117987186

Not sure maybe less people done it for Wednesday draw then do Saturday's draw. As pay day for people usually Thursday and Friday so more people might do the Saturday draw. So bigger amount in the pot then?

Dempo1 · 07-10-2021 9:34am

https://www.boards.ie/discussion/comment/117987228#Comment_117987228

I believe its a regulatory thing but honestly I think it's wise but have to question why other prizes have not increased for less number's, its quite disgraceful actually

Degag · 07-10-2021 9:39am

https://www.boards.ie/discussion/comment/117987240#Comment_117987240

30% already goes to good causes…. apparently!

AdrianG08 · 07-10-2021 9:44am

https://www.boards.ie/discussion/comment/117987241#Comment_117987241

More people winning the smaller prizes perhaps

Degag · 07-10-2021 9:47am

650k less in prizes than last Saturday night.

seems odd with the jackpot the highest it’s ever been.

Boooourns · 07-10-2021 9:50am

https://www.boards.ie/discussion/comment/117987183#Comment_117987183

Ah delighted to get it, going to treat the Missus and kids.... and myself of course!

Dempo1 · 07-10-2021 10:05am

https://www.boards.ie/discussion/comment/117987266#Comment_117987266

I prefer to use the word "allegedly " 😏

Dempo1 · 07-10-2021 10:05am

https://www.boards.ie/discussion/comment/117987307#Comment_117987307

Well done 👏

Dempo1 · 07-10-2021 10:09am

https://www.boards.ie/discussion/comment/117987294#Comment_117987294

Thats my point raised earlier, even if there was less players (very doubtful) the Jackpot has been the same for two weeks, camelot claiming better prizes down the pegging order as Jackpot capped and this is clearly not true, enormous decrease in value of 5+Bonus this week with little to explain why.

Boooourns · 07-10-2021 12:16pm

https://www.boards.ie/discussion/comment/117987396#Comment_117987396

Funnily enough it's one of the reasons I had a go, I heard they were paying out more so it just caught my attention. I thought the prize money would trickle down but it hasn't, its a bit odd. Not complaining at all but when I saw the 5 + 1 being about 300k lower I thought it didn't make sense.