Lotto is an Illinois-only $2 jackpot game
The Illinois Lotto is an exclusive state-based lottery game. Players can purchase tickets for $2 each to play for a chance to win a multimillion dollar jackpot. Drawings take place every Monday, Thursday, and Saturday at 9:22 PM CT. The jackpot starts at $2 million and increases every two draws. To win the jackpot, players must match all six numbers on their ticket.
It is a pari-mutuel game
Lotto is a pari-mutual game, which means that all players share the same prize pool. A smaller percentage of the total bets is deducted by the house, which is typically a government agency or private company that specializes in pari-mutuel betting. The prize amounts are not fixed, so a winner may get a bigger share of the prize money than someone who doesn’t.
It has a pari-mutuel prize structure
Lotto is the only major lottery game in which the jackpot prize is calculated on a pari-mutuel basis. All other prizes are fixed and guaranteed to each player. When one player matches all five numbers, he wins the jackpot. The other winners share the prize pool, and the amount each wins depends on how many tickets are sold and the number of other winners at that level.
It is a game of chance
The Lotto debate centers on whether the lottery is a game of chance or one of skill. A game of chance involves elements of chance, such as the use of a randomizing device, while a game of skill uses mathematical probability and other strategies to increase the odds of winning. Different jurisdictions define these terms differently.
It’s a game of chance
Lotto is a game of chance in which players choose a set of numbers from a large list. If those numbers match a second set, the player wins prizes. In a typical game, players choose six numbers from a set of 49. The lottery randomly selects these numbers at a predetermined time and the player must choose six of them. If all six numbers match, the player wins a major prize. In other cases, the player may win smaller prizes if only three of the numbers match.