# Prize Details

## Prizes and Odds

The following table shows the expected prize and odds of a winning ticket with a certain count of consecutive matching numbers.

Number of Consecutive Matching Numbers | Expected Prize | Odds |
---|---|---|

0 | $0 | 1 / 1.07 |

1 | $0 | 1 / 17 |

2 (Bronze) | $1+ | 1 / 273 |

3 (Silver) | $50+ | 1 / 4,370 |

4 (Gold) | $1,000+ | 1 / 70,000 |

5 (Jackpot) | $21,000+ | 1 / 1,120,000 |

6 (Super Jackpot) | $250,000+ | 1 / 16,800,000 |

Note that an increase in the number of purchased perpetual lottery tickets will **not** decrease the expected prize payouts per winning ticket. This is because as the number of perpetual lottery tickets goes up, so does the size of the lottery pool. What **will** happen as the number of perpetual tickets goes up is more total prize payouts and more winning tickets each week!

Look here to see examples that identify how many consecutive matching numbers a given ticket has.

### The Price Of A Lottery Ticket

Glow Lotto works by awarding you one perpetual lottery ticket per $25 dollars deposited. Another way of looking at this is that each week Glow Lotto uses a portion of the interest from your $25 dollar deposit to "buy" a single use ticket.

Looking at it this way, we see that each entry in the lottery actually costs just 6.5 cents! Talk about a bargin 😁 ( `(pow(1.2, 1 / 52) - 1) * 25 * .75 = 0.65`

)

Continuing with this perspective, an important note is that the expected value of a single use Glow Lotto ticket is actually greater than the cost of the ticket, i.e. for every 6.5 cent ticket you "buy", you expect to get back more than 6.5 cents in prizes! This is because all money that goes into the lotto pool goes straight back to ticket holders, and some is carried over from previous weeks. This is very different from than most lotteries where for every $1 you spend on a ticket, you only expect to get $0.50 back (i.e. where you are playing at an expected loss).

### Expected Prize Calculation

Unlike some lotteries which pay out a fixed prize based on a number of matches (i.e. a fixed $50 for a ticket with 3 consecutive matches), Glow Lotto pays out a variable amount depending on the number of winning tickets for a given tier. This is because Glow Lotto has access to a fixed amount of total funds to pay out in each lottery. In the unlikely event of many fewer winning tickets than expected for a given week, each winner will receive a larger prize than expected. Similarly, in the unlikely event of many more winning tickets than expected for a given week, each winner will receive a smaller prize than expected.

Even so, we can calculate what the expected payout will be for a given number of matches and know that the actual payouts will hover around the expected payout. See the code below. Notice that it doesn't depend on the number of purchased perpetual tickets, but it does depend on the prize distribution which you can find here.

And the corresponding output:

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