CB2Bank Lotto - Starting Jackpot: $100,000! (in Contests)

Coming Soon
Progressive Lotto!
Starting Jackpot: $100,000!
Next Drawing: April 30, 2005

CB2Bank is starting a new weekly lottery based off of Lotto Texas, and is easy to play. The Jackpot is constantly growing as each fee is added to the current Jackpot. Multiple people can choose the same numbers, so do not worry about someone taking your lucky numbers before you. Take a chance at the progressive jackpot with your $1,000 CB2$ ticket today!

To commemorate this new Lottery, we are starting it a couple of days early. This particular thread is for the drawing that will be held on Saturday, April 30, 2005.

To Play:

1. Choose 5 numbers between 1 and 44. These numbers cannot repeat each other. 2. Choose 1 bonus number between 1 and 44. This can be the same as a number chosen in step 1. 3. Send $1,000 to CB2Credit. (You can send one payment if purchasing multiple tickets.) 4. Post your number set to this thread like this "1,2,3,4,5 BB 1". (You can put multiple sets in your post if purchasing multiple tickets.) At 9:12PM CST (usually 8:12PM Server Time) on Saturday, we will no longer accept numbers for the current drawing. 5. Every Saturday after 10:12PM CST (usually 9:12PM Server Time), check http://www.txlottery.org/ for the winning numbers! (We are only using Saturday's drawing in this contest.) 6. A new thread will be started every Sunday for the new weekly drawing!

How to Win:

Match 4 numbers: 10% of the Jackpot will be split between all tickets that match 4 of the 5 numbers! Match 5 numbers but not the bonus ball: 30% of the remaining Jackpot will be split between all tickets that match all 5 numbers but do not match the bonus ball! Match 5 numbers and the bonus ball: 80% of the remaining Jackpot will be split between all tickets that match all 5 numbers and the bonus ball! All remaining Jackpot money will be rolled into the next week's Progressive Lotto Jackpot!

FAQ

1. How many tickets can I buy each week? You can buy as many tickets as you can afford. Each ticket is $1,000 CB2$. 2. Can I use the same numbers that someone else uses? Yes. Any number of players can use the same number combination. 3. Can I pre-pay for the same numbers for multiple weeks? No. It would be difficult to keep track of who has how many weeks left on their numbers, and how much of each purchase would go into which Jackpot. If there is sufficient interest in this, we may implement it in the future. 4. Why can I not purchase numbers for the current drawing after 9:12PM on Saturday? The drawing will not happen until 10:12PM! This is to ensure that no one attempts to purchase numbers after the drawing is held. We decided on an hour buffer to prevent disputes regarding the timing of a ticket purchase. 5. What happens if no one wins any of the prizes? Any portion of the Jackpot left each week will roll into the following weeks Jackpot. The term Progressive indicates that the Jackpot will keep growing until a player wins. 6. Why do the 5 number wins say "Remaining Jackpot"? In the event of multiple winners winning different levels of the Jackpot, we will pay the smallest prizes first. The rest of the prizes are paid out of the remains of the Jackpot after the smaller prizes are awarded. This is to ensure that the prize amounts do not exceed the Jackpot amount. 7. Why are there no 100% winners of the Jackpot? Doesn't that break the rules of the Contest forum? We want this Lotto to keep going for a long time. To ensure this, we have designed the prizes to never exceed the Jackpot. No one is interested in a zero dollar Jackpot, so we have also designed the prizes so that a part of the current Jackpot will always roll over into the new Jackpot. This does not break the rules of the Contest forum because we are not profiting from this activity, we are only ensuring that each week has a Jackpot! For those who are still worried, if we ever decide to stop this Lotto, we will hold a final contest designed to award out 100% of any remaining money. 8. How do we know that you won't short change the Jackpot or winning percentages and pocket the extra money? All incoming fees can be seen by viewing the Lotto threads, and all outgoing prizes will be posted in the Lotto threads. We invite you to review the numbers yourself. There may be occasions where we make a mistake (we are only human), and would be grateful to anyone who would be kind enough to point out our mistake!

very nice Bubo. I'll probably play since it's only 1K/ticket...

26,42,7,17,13 BB 37
44,42,35,23,1 BB 24
12,23,41,43,12 BB 41
15,28,42,15,29 BB 29
9,37,25,37,12 BB 32

sent 5k from YourNewMinion (fun with poop)

You've got a repeat in that last set (37)

then my fifth one is changed to 11,27,39,18,40 BB 22

theres also a repeat in the 3rd and 4th. 15, and 12

You know, it's tempting... but the reason anyone wins such lotteries is that literally millions of tickets are sold... it's going to be months (read years) before anyone gets 4, let alone all 5.

Here are my 2x5 numbers choices :

1) 2-5-7-10-13 BB 14
2) 1-3-5-7-13 BB 8

Decided to work it out...

Odds of getting 4 out of 5 : 1 in 5,569

Odds of getting 5 out of 5 no bonus: 1 in 30,961

Odds of getting 5 out of 5 and bonus: 1 in 1,176,509

Like I said, moths (read years) before anyone wins anything. The actual odds on the last one, 5 out of 5 with bonus are actually a little worse, cause I didn't factor back in repeats.

To be fair, your odds are actually better than the real odds are. I'm afraid, however, that there is one point that I have to disagree with you on.

The "odds" that you are talking about simply indicate how difficult it is to win and have no bearing on how long it will take to find a winner. Every week is a fresh start, and past history does not change the odds or have any bearing on how likely someone will win. What this means is, the phrase "It's been two months since anyone has won, so a winner is going to show up soon" is false. The odds show how likely someone is going to win the contest, but they have no bearing on how long it will take to find a winner.

I just want to say that I see the good intention behind this and understand that it's a good idea but believe me, fatalxception has a point. it will be real hard for anyone to win and even if the jackpot gets out of control and everybody goes crazy and buys like 50 tickets a week it's still gonna be real hard for anyone to win b/c of the size of the community. yes, somebody might in the first week, that's possible, but extremely unlikely. I would like you guys to continue this but i think allowing 3 out of 5 to win also, would be more logical and reasonable. and it would probably increase participation, too.

still, to show my support, i'll buy a ticket :) will write numbers after sending money

numbers: 9-13-29-22-36 BB- 23

you do realize that the powerball winner takes about a month...and those odds are 1 in 80 mil...you have better odds of getting srtuck by lighting 2 in your life than winning the powerball...you chould do something a little smaller, like max of 4 + a powerball and range numbers 1-30 or 35...other wise with a populatin of 6,000 max ppl i think it was...will take maybe 7 to 8 months..another big problem is that when ppl don't win they gonna wait for it to get huge...you need to put up about 10mil and make tickets abotu 10k a peice...then you might have a more realistic lotto for the CB community...Millions of people play powerball each week and they run twice a week...and those millions of ppl lose, some get money back some make a good profit but the chances of anyone in CB to hit the 5 numbers with the BB is insane...i would give my char and all my stuff to anyone who hits in within 6 month let alone 100 USD...i would make that bet. i just feel that your out to far and ppl arn't gonna want to play for 100k when i can make 100k in a day without whacky money(yes i have the Newbie Bonus). you'll get better returns on players who want to play and the money they will win altogher...If you got 100 players each week that pay 10k a peaice, theres your million dollars per week..now there odds of hitting are slim to none and slim never came to town...10k is pretty easy for most ppl, a max prize of 10mil is a great pay out, and once it gets started you can up the jackpot..these are my ideas and i think ppl might like them..i know i would play just for the fast of 10mil...but not 100k

I agree with KCC, 100k is just too little

My qualms about the lotto contests is they end before all the jackpot money ever gets split. The way you are doing it, when you decide to stop running it there will be money left over.

Basically I see them as a way to get around the no profit from a contest rule. Not saying that's your intent bubo, but just my two cents on the issue.

I think a lotto is a good idea, but like everyone else has said, you can't use this setup. 6,000 active people with odds of hitting jackpot at 1 in 120,526,770.

Or look at it this way. It costs $1000 to win a min of $100,000. Thats payout odds of 1:100. Real powerball is $1 entry, with a min of $10,000,000. Which is payout odds 1:10,000,000.

Powerball Odds/Rules

Sounds like fun to me my numbers are:
13, 27, 8,3, 43 BB 21
37, 17, 15,44, 7 BB 12
will send money
Koala

I find it distressing to defend a contest that I decided to run for the enjoyment of others. This contest was guaranteed to cost me a significant amount of time, and had started with a 100k contribution out of my pocket to start the jackpot with. However, I have decided to attempt to defend this contest one last time before shutting it down. There are a few things that need to be realized.

First of all, each new jackpot will not start with only $100,000 in the jackpot. This one started with a $100,000 contribution out of my pocket, which is where that number came from. With the odds set the way that they currently are, it is guaranteed that if all three prize tiers are won in a single week, the new jackpot will still be in the multi-million dollar stage. It is highly unlikely that it will ever dip below the million dollar amount for a brand new jackpot. Also, for those who want larger guaranteed payouts, keep in mind that if I have to constantly add money from my pocket then this contest will end up bankrupting me. The 80% max threshold was chosen to guarantee that this contest would be able to keep itself going for a long time (as stated in the FAQ).

Second, it has not been stated anywhere that we will not introduce the lower match prizes. However, adding even one more level of prizes to the game gives the following odds: 3 balls - 1:150, 3 balls with bonus ball - 1:6,449. This means that if we add the 3 ball level with bonus ball, the odds of winning that prize are worse than winning the 4 ball level without bonus ball (to me, it's not worth adding 3 balls with bonus ball to the win list). If we add the 3 ball level without bonus ball, then it would only take a $150k investment to almost guarantee a prize win. If we were to introduce the 3 ball payout at this time, there are so many players who could easily afford it that by the time the drawing is held and prizes doled out, 3 ball payouts would be in the range of a couple of hundred CB2$ back for each $1,000 CB2$ investment. The original plan was to surprise the community with 3 ball payouts when the payout rate grew to above $1,000 CB2$, but still below $150,000 CB2$. Congratulations folks, if the jackpot ever grows to that size you have already ruined the surprise.

Third, it must be realized that the economy of CB2$ is vastly different from real world economies. I think that everyone has failed to take into account that it would only take $5,699,000 to almost guarantee a 4 ball win in this lotto. In the real world, this is amount of money will very difficult to come by. In CB2$, loans are made and paid back for this amount and more all the time. The payout thresholds were chosen in an attempt to prevent the players who generate that much money in a relatively short amount of time (i.e. campers and loansharks) from dominating the winners list.

To address a few individuals concerns:

For those who have said that $100,000 is not enough to be worth a $1,000 gamble, please take a second look at where it says "Progressive Jackpot". At the current odds, I guarantee that the Jackpot will never be this small again. If you still think that the current jackpot is too small, then just wait to enter until it is large enough to be worth it to you. It may grow slower without your gamble, but there are a few players who enjoy this type of entertainment regardless of the current jackpot size, or who are willing to gamble $1,000 on only a currently $108,000 prize.

The official odds are :
5 + 1 = 1:47,784,352 (I have no idea where you got 1:120,526,770)
5 = 1:1,111,265
4 = 1:5,669
3 = 1:150

Regarding the $10 million dollar powerball. Keep in mind that the particular powerball drawing that you refer to is played across more than 20 states! They are generating well over 10 million ticket sales per drawing, and if you look in the fine print they are only contributing 50% of sales into the pot. This drawing, as has been pointed out multiple times already, has a much smaller player base, but it is contributing 100% of sales into the pot. Also keep in mind that the grand prize of 10 million dollars is to be paid out over a 30 year period. If you like, I don't think it would be a big issue to pay the grand prize winner only $28,000 CB2$ per month. Just let me know when you want us to start using that payout scheme.

Regarding extra money left over after the contest(s) are ended: I invite you to take a second look at the paragraph on the contest forum page. Specifically to where it says all leftover profits must be sent to TourneyPrizes. From what I understand, failure to do so is a reset offense. However, since the concern was brought up, I will add to the future FAQs that, in the event that the Progressive Lottery is brought to a complete close, either a final raffle will be held to distribute all remaining jackpot money, or it will be sent in full to TourneyPrizes.

In closing, I intend to attempt to keep this going with the current prize payouts, and add the 3 ball win level when the prize payout is worth a $1,000 gamble. If there are any further complaints about how this is handled, then I ask you to run your own Lottery under the rules you think it should have. I don't see any real problems with having multiple Lotteries with different rules run at the same time. If you do feel you must complain before trying this, then I will go ahead and officially end this contest (with refunds of course). It's already guaranteed to cost me a great deal of time to provide gambling entertainment for others, I don't want it to cost me my own enjoyment at the same time.

My bad, the current jackpot is already $110,000 instead of $108,000