what is the basic working method of the super lotto companies?
what is the profit of the companies providing super lotto?
who is providing with the money?
2007-06-05 01:45:30 · 2 answers · asked by souvik s 2 in Games & Recreation ➔ Gambling
The people who buy the ticket provide the money. This why you not know how much a Lotto Total is until there no more tickets sold. Many State Lottos you will notice for example; 1 million dollars and if no one win, next time it may be 2 million. The money will build until there is a winner payout. I not sure of %, but, there is a cut that goes to the State and probably the Stores selling the Tickets. May not be much for the store, say 5 cents a ticket sold and maybe a Bonus if they the store that sold the winning ticket. This prvides the incentive for them to sell tickets. The State for example will use the money to Fund various things like Education and Health Programs. This all I know.
Horse Racing is similar; People bet on various Horses to Win, Place and Show (Paramutual Betting). The more money placed on one horse determines the odds of that horse. Then the money Pool will be paid out to the winners, the Horse Track gets a cut of the Bets.
2007-06-05 02:00:20 · answer #1 · answered by Snaglefritz 7 · 0⤊ 0⤋
Oh wow! This is a very good question. I'm so sorry but I won't be much help. The only thing that I know about the lottery is that they have 3 different games for Mid-day and 3 games for night. They have pick 3, pick 4 and some kind of 5 ball game. I'm not sure where the money comes from wither but I'm guessing that it comes from the people that spend all of their money on playing numbers everyday.
2007-06-05 01:54:52 · answer #2 · answered by PrincessNene 4 · 0⤊ 0⤋