LottoPool Advantage

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LottoPool Advantage

Powerball 4.96x 3,163 $490
Mega Millions 1.65x 4,471 $493
Cash 4 Life 3.28x 244 $100

This metric shows the advantage of playing in groups.
Last updated: Sep 29, 2015 11:25:50 PM

10,696

Tickets Sold

$2,617

Winnings Processed

380

Lottery Pools

3.3x

Social Lotto Pool Advantage

4.96x

Powerball

1.65x

Mega Millions

3.28x

Cash 4 Life

What is the advantage of using Social Lotto Pool?

The advantages of using Social Lotto Pool are plenty. First, there are more members contributing to each pool and thus increase odds of winning the jackpot. Second, Based on our 'Social Lotto Pool Advantage' chart we can see the advantages of payouts as compared to playing individually. Suppose the overall odds of winning any prize 1:40, meaning for every 40 tickets $1 is won, thus $80 tickets should expect to win $2. While the overall odds are still the same, instead of the payout being a step function with Social Lotto Pool the payout function becomes more continuous because we can payout smaller denominations. Therefore our Win to Ticket-Entry ratio should remain below the 1:40 as given the in example. Example, our total lottery payout is $134 for 671 tickets processed, thus the entry to win ratio is 1:5, 4x better than 1:40

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Powerball

Total Winnings: $490
Total Tickets Processed: 3,166
Total Pools: 118
Avg. Pool Size: 27
Entry-Winning Ratio: 1:6.5
Overall Odds: 1:32
LottoPool Advantage: 4.95x
Jackpot Odds: 1 in 175,223,510
Current Jackpot: N/A
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Mega Millions

Total Winnings: $493
Total Tickets Processed: 4,475
Total Pools: 119
Avg. Pool Size: 38
Entry-Winning Ratio: 1:9.1
Overall Odds: 1:15
LottoPool Advantage: 1.65x
Jackpot Odds: 1 in 258,890,850
Current Jackpot: N/A
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Cash 4 Life

Total Winnings: $100
Total Tickets Processed: 247
Total Pools: 34
Avg. Pool Size: 7
Entry-Winning Ratio: 1:2.5
Overall Odds: 1:8
LottoPool Advantage: 3.24x
Jackpot Odds: 1 in 21,846,048
Current Jackpot: $7,000,000