Categories
BLOG

oregon video lottery secrets

Oregon Video Lottery Secrets

Oregon Video Lottery Secrets

Check your lottery numbers or Generate your lucky numbers by clicking on your favorite lotto. We offer a variety of games lucky number generator, winning numbers, and related information for all major Lottery games. The latest winning lottery numbers, past lotto numbers, jackpots, prize payouts and more about Oregon Video Lottery Secrets .

California SuperLotto Plus

California SuperLotto Plus is one of the biggest US state lotteries on the market. California SuperLotto Plus draws every Wednesday and Saturday, offering impressives secondary prizes.

Oregon Megabucks

Oregon Megabucks is the American state lottery that has created over 240 millionaires. Lottery draws 6 numbers from a set of 48 every Monday, Wednesday and Saturday

United Kingdom National Lottery

Lotto UK, also known as UK Lotto or the UK National Lottery, is the UK lottery with huge jackpots and amazing secondary prizes. The draw is conducted on Wednesdays and Saturdays.

United States Mega Millions

In Mega Millions lottery for just $1, you could win the multi-state Mega Millions jackpot, which starts at $15 million.Drawings are held Tuesday and Friday nights at 11:00 p.m., Eastern Time.

Europe EuroMillions

EuroMillions is a European lottery that takes place on Tuesday and Friday evenings. Whereas national lotteries are generally limited to the residents of participating countries.

South Africa Powerball

South Africa Powerball is the South Africa lottery that attracts attention from lottery fans around the world! This lottery draws every Tuesday and Friday at 21.30 CAT offering eight amazing prize categories, all of which are tax-free!

South African Lotto

South Africa Lotto is one of the most popular lotteries in the country! South Africa Lotto’s draws take place every Wednesday and Saturday.

Europe EuroJackpot

EuroJackpot is Europe’s hottest new lottery sensation and offers lottery fans jackpots that start at €10 million and 12 different ways to tax-free win prizes in every Friday draw.

Italy SiVinceTutto

The monthly SiVinceTutto lottery, whose name translates to Win It All, offers lotto fans the possibility of attractive prize roll downs and a suspenseful build-up to the lottery’s monthly draw.

Australia Wednesday Lotto

The Australian Wednesday Lotto is drawn every Wednesday with tax-free prizes, and a fixed guaranteed jackpot of AU $1 million to winner. All that you need are six lucky numbers.

Oregon Video Lottery Secrets

Oregon Video Lottery Secrets. Generate FREE Lucky Lottery Numbers. Try your fortune online about Oregon Video Lottery Secrets.

Oregon Video Lottery Secrets, Euromillions Buy Online, Lotto Result for Today, Play Lebanon Lotto, Recent Lottery Winners in Ontario, Ontario Lottery Winning Numbers, Powerball Play Days, Classic Lotto Numbers, 49s Latest Result, Numbers NY Lotto Results, New Jersey Lottery New Jersey Lottery. Oregon Video Lottery Secrets

Find out your lucky numbers, winning numbers for lottery, gambling, betting. Find your personal lucky numbers, or determine your lucky days! Try your fortune online with lucky numbers, lottery numbers, lotto numbers, winning numbers, numbers game, luck, lucky, luck of the draw, just my luck, fortune, fortunate. It isn’t only about winning huge pots of cash. Find Your Lucky is about making the most of the wonderful blessings already surrounding you. FindYourLucky is a tool for help you to do it every day. Lucky Numbers

Oregon Video Lottery Secrets. Generate FREE Lucky Lottery Numbers. Try your fortune online about Oregon Video Lottery Secrets.

Oregon Lottery Video Poker Specific Numbers

– The “loss rate” for a brisk player at most games is $27 per hour, nearly four times the minimum wage.

– The “house edge” on most games is over five times worse than that with e.g. craps or blackjack.

– Players do react rationally though imperfectly to varying hold
percentages (house edge), and preferentially play games with a smaller
hold (smaller house edge).

– A bar with the legal limit of five such machines would net (EBIT)
nearly $39000 annually, with the state keeping the other $100,000.

– The lottery in effect pays $310 per square foot per year to rent bar
space, a 1000% premium over the downtown central business district.

– These numbers are below the statewide average, which is likely skewed by some very high-volume locations.

(Some numbers have been rounded to fit annual time frames.)

This machine had ten normal games, of which all had a 10% hold, except
one with 6% (“Flush Fever”) and one with 8% (“Oregon Gold”). The
“draw high” game is 0% hold (no house edge).

Contrast this with

5.3% for roulette,

1.5% for craps, and

1-2% for blackjack.

By far the most money was played on “Flush Fever,” the game with
the lowest hold. This is probably because the difference between
a 10% hold and a 6% hold is so dramatic, that even without labeling, a
player can detect it readily. About 45% of the action (money
played) was at this game. “Jacks or Better” got about 12% of the
action. With 8% and 7% respectively, were “Deuces Wild” and
“Oregon Gold” (the 8% hold game).

Since there are ten games, and the #1 and close #4 games are the least
and second-least holding games, we can surmise that people play more at the lower hold games.

Previously, I had speculated that the least you would expect a player to lose
under a 10% hold, playing one 25-cent game every ten seconds (brisk but
not blazing) would be $9 an hour. In fact, nearly all games recorded an
average bet of 75 cents or more. That means that the hourly loss
rate would be at least $27 an hour, an hourly rate equating to a full-time salary of
$54,000 a year.

In fact, the overall hold percentage is reduced by two facts: 1.
players preferentially play the less-biased games, and 2. an
even-money, “double or nothing” bet with no house edge is offered to
winning hands. The overall theoretical hold for the machine as
played should have been 6.37%, though it lagged slightly with only 5.8%
actually held.

Of the cash that had, over three years, been fed into the machine, more
than half is denominated in $20s (the largest). About $267,000 in
bills had been put into the machine. About $184,000 in winning
tickets had been printed. Although on each coup the player might
expect 90% back, for every buck actually put in the machine, only 69
cents come back out.

The machine in question had about $1.4 million in action put through it
over 3 years (recall, action is calculated each bet, so it will be many
multiples of cash drop). The total hold was about $83,000, about $2300 a month (one machine), or
about 5.8% of action (the “draw” game counts toward action, but cuts
down on the hold percentage since it has no inherent advantage).

How much play did this box get? With an 83 cent average bet, and
476,400 dollars put through a year, that’s about 574,000 bets per
year. That’s about 1752 a day, or 131 an hour through a 12-hour
day. This sanity-checks my 360/hour estimate — 1/3 of the
time in rapid play seems sane.

The bar had five video lottery machines (the legal limit), but only one
of them was kind enough to tell us its financial history. To
situate it, it’s a youngish, dive-y 20s and 30s bar, with pool tables, the kind
of place where a cuba libre costs less than 4 bucks and they don’t call
it a “cuba libre.” In those terms, the patrons of that bar could
have had another 21,000 cubas libres over the last three years instead
of playing video poker. This is not “el primo” territory for
video poker, though I would guess they do OK by video poker standards.

To do some quick math:
5 machines * 89000/year/machine = $445000 / year / bar drop
5 machines * 27667/year/machine = $138335 / year / bar hold
Retailer commission (average, per Oregon Lottery) 28% = $38733 / year / bar hold

To get $38733 annually, risk free, at 2% interest, you’d need
nearly a cool $2 million in the bank. What does the retailer
stake for this? About 25 square feet per machine, including chair
space. With five machines, that’s 125 square feet generating
$38733, or $310 / sq ft / year. Today in Portland, Oregon’s
largest city, you would be hard presesed to find Class A office space
renting for more than $30 / sq ft / year. So the rental rate that
the Lottery is paying dive bars is only a 1000% premium over that for a
suite in Portland’s toniest skyscraper.

To bring it back to earth, let’s sanity check all of this against the known figures:

circa 2100 retailers * $138335 / year / retailer = $290 M hold overall

This is in sanity-range with the lottery’s published $530 M figure
(there tend to be a few top-performers in the video lottery that skew
the results to the high end).

This could be an interesting case study for anyone looking at the
recently-again-in-the-news issue of Oregon’s video lottery.
Unfortunately, nobody is talking about how we can mitigate the harms;
instead, everybody just wants to wring more money out of the program.

Oregon Lottery Video Poker Specific Numbers – The “loss rate” for a brisk player at most games is $27 per hour, nearly four times the minimum wage. – The “house edge” on most games is over