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The hard truth behind scratch cards

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Let me tell you a thing or two about scratch cards”. Listen carefully. Did you know that before being printed and put up for sale, they must be described , publicly and in detail, through an official  AAMS  document in Italy’s Official Journal? All the information is in the public domain, you just need to know where to look. I’ve done it for you.

I chose an issue of “scratch and win” that was issued (10 November 2016), the “100x”. I will not express any opinion here. I’ll stick to facts.

Ticket price: €20

Tickets printed:17,760,000

Prize Breakdown:

Presented like this, it may not convey much to you, but read it carefully.

First of all, a simple sum tells us that there are 8,265,096 winning tickets out of a total of 17,760,000. So, more than half of them are losing tickets. To be exact, we will win a prize only46.5% of the time. Moreover, about 5.7 million tickets will not result in a profit, but will only give us back the amount we spent on the ticket (money which, as often as not, is reinvested in a new ticket … and please don’t try to deny you do this!). So, this means that 15,294,704 tickets, out of 17,760,000 will not bring us any net profit (because they are either losing tickets or they make us break-even). It’s painful, I know, but when we buy a ticket, 86% of the time we’ll have nothing to celebrate.

Now, let’s consider the probability of winning the € 5,000,000 first prize; with only 2 winning tickets, this means only 1 chance in 8,880,000. I repeat, statistically, you will only win about once every 8 million tickets, but the prize is 5 million. A poor return considering the effective chances of winning.

In short, and to save you any complicated mathematical calculations, this “100x” can expect to gather about 355 million euros in takings (number of tickets printed multiplied by ticket cost of 20 euros) and something under 300 million will be paid back to the players (number of winning tickets multiplied by the amount won on each), meaning that this “scratch and win” game is calibrated at 84%.

Now that we have talked about one very popular game in Italy … shall I tell you something about another, very popular game?  Here  I’ll let you in on the secrets of Lotto.

And if you want to know more about the “Scratch and Win” scratch cards mentioned above, please consult Prot. 109494 / RU by clicking here.   

This article was written some time ago for followers of the blog, Giocopulito.it. You can find the original article here.

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