Australia Oz Lotto (eff. Mar 2013)

The purpose of this page is to provide Australia Oz Lotto players with the supplemental information that is not readily available on the sponsored lottery site.

 Australia Oz Lotto Highlights Mid-size replace 2 replace 3 replace 4 replace 7 replace 7 replace 7 Class Winners Losers Overall Odds Overall Return Return Sensitivity Payout per \$

We believe this is important because most lotteries only provide players with minimal amount of information: the odds of each winning combination occurring; the overall probability of having a winning ticket; the price of each ticket; the game format; the total number of combinations; and a few other items.

However, this page fills in the missing blanks. Included here are the complete odds and probabilities of every winning and losing ticket. It provides you with a comparison of winners to losers, the monies collected, the monies distributed back to players, and more.

Lottery Power Picks has taken every effort to ensure that this summary information is correct by reading and bookmarking all information provided by the organizing lottery body. But, in certain instances, clearly defined rules are not written. In those instances, we made assumptions that are linguistically consistent with the rules. Should any information be incorrect, please inform us so that we may correct it. We hope you find this information useful in understanding the lottery you play.

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 Table OZ7: Australia Oz Lotto Expanded Odds Calculations

About: Australia Oz Lotto is a Multi-State lottery that is played in the 5 states and 3 terratories. It is operated by New South Wales Lotteries (New South Wales and the Australian Capital Territory), Tattersalls (Victoria and Tasmania), Golden Casket (Queensland, the South Australia Lotteries Commission, and Lotterywest (Western Australia).

Format: Australia Oz Lotto requires a player to make pick 7 numbers out of a set of 45 white balls. Oz Lotto will then select 7 primary and 2 supplemental numbers. If the player picks the same numbers as the main primary numbers that are drawn in the next drawing, the player may win or share the Jackpot prize. Additionally, smaller prizes are awarded for other combinations.

Class: Australia Oz Lotto is a Mid-size Lottery. We classify it as such because its Jackpot Parity is approximately \$36.5 million, which is over \$10 million and less than \$100 million.

Prizes: The minimum Australia Oz Lotto jackpot prize is replace 1, which is paid as a cash value. All other cash prizes are calculated on a parimutuel basis based on a fixed percent of the prize fund (thus, they vary from drawing to drawing. If no one wins the jackpot amount, a portion of the proceeds is rolled forward to the next drawing, allowing the jackpot to grow. All other prize amounts are determined only from the current drawing pool.

Combinations: In the Australia Oz Lotto lottery, there are a total of replace 1 combinations.

Winners: Of these, there are replace 8 winning combinations. This represents replace 2 of the combinations. The overall odds of having a winning combination is replace 4 to 1 (the lower the better).

Losers: There are replace 9 losing Australia Oz Lotto combinations. This is replace 3 of the combinations. The overall odds of having a losing combination is replace 4 to 1 (the higher the better; because as this number gets closer to 1, nearly every ticket is a loser.

Price: Each Australia Oz Lotto ticket costs replace 9 (and options are available to purchase multiple tickets at once).

Money Raised: Assuming all tickets are sold and there are no duplicates, a total of replace 10 will be raised.

 Table OZ-4: Australia Oz Lotto Summary Format 7/45+2Bonus Class Mid-size Min Jackpot replace 8 Jackpot Type Cash Combos replace 1 Total Winners replace 8 Total Losers replace 9 Overall Winners replace 4 Overall Losers replace 4 Pct Winners replace 2 Pct Losers replace 3 Price replace 9 Amount Raised replace 10 Tot Payout replace 11 Avg Ticket Payout replace 7 Normalized Payout/\$ replace 7 ReturnOn\$ replace 7 Jackpot/Odds replace 7 Return Sensitivity replace 7 Jackpot Parity replace 7

Prize Pool: Oz Lotto dedicates 60% of the raised money for the prize pool. Of this, replace 11 will be allocated to the prize pool to be paid back to the players when the jackpot is set to replace 8

Average Winning Ticket Payout: On the average, each winning ticket will pay replace 7 to the players. Since a ticket costs replace 9, the normalized payout per Dollar spent is replace 7

Income Returned to Players: Based on this information, replace 7 of each \$ raised will be returned to the players.

Return Sensitivity: If the Australia Oz Lotto Jackpot changes by \$1.0 million, the above Income Returned to Players will change by replace 7 (up or down).

Jackpot Parity: In order for Australia Oz Lotto to return \$1.00 of each dollar raised, the Jackpot must be equal to replace 7

References:
You can learn more about the Australia Oz Lotto and verify our findings by visiting our references.