If you found just 18 losing tickets a day, you’d have an expected value income of over $100 per day, or $36,500 per year if done daily. This means that not only would it be worthwhile to enter that losing ticket into the drawing, it would be profitable and worth it in the long run to place an ad in the paper offering to pay people $3 for their losing scratch ticket! And it means it’s certainly worth it to dig through the trash if you happened to see some scratch tickets in the trash.Īt a value of $5.82 per non-winning ticket, you could drive around all day to different gas stations, dig through their trash, and make money. This mean each losing ticket had an expected value of $5.82 cents before tax, ($100,000 prize divided by 17,192 entries). There was a $100,000 prize, and only 17,192 entries. It also meant a player would be stupid to throw away that losing ticket without entering it into a second chance drawing.Įxpected Value of Losing Oregon Lottery TicketsĮntering the second chance drawing is free, and in this case the smart play, even if you think you are too busy to input a few numbers, or even if you think the odds are long. We don’t know how many tickets ever sold, but we do know that there were only a total of 17,192 entries into the lottery’s second chance drawing, where the one grand prize was also $100,000.Īssuming all 240,000 scratch off tickets were sold, this means that only 7.163% of all tickets were entered into the second chance drawing, or roughly 1 in 14 ticket buyers took the time to enter the second chance drawing for $100,000. I did a quick analysis, and this seems to be backed up by the data on their website.įor example, the Oregon lottery recently had a $10 scratch off game, called “Classic Gold.” The top prize was $100,000 and you had a 1 in 120,000 chance of winning one of the two $100k prizes offered. That means only one in 15 scratch-off ticket buyers are entering the tickets into second chance drawings. “The base of players participating with our 2nd Chance program only represents 6.7% of our overall Scratch-it players.” We can explain this by using language on the lottery’s website: Unfortunately, the Oregon lottery has changed their second chance lottery scratcher drawing rules, partially eliminating what appeared to be fantastic odds for big prizes. You may enter the Oregon Lottery’s 2nd chance drawing 25 times per day for each game. This is the only way to enter the Oregon second chance drawing, as tickets mailed in, or physically dropped off to lottery offices will not be accepted. The Oregon Lottery Has a Second Chance Drawing You Should Always Enter
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