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TattsLotto is a weekly lottery game played on Saturday nights in Australia, known as Saturday Lotto in New South Wales, South Australia and Western Australia, and Gold Lotto in Queensland. It was the first European-format "lotto" style lottery in Australia.
Lottery mathematics is used to calculate probabilities of winning or losing a lottery game. It is based primarily on combinatorics, particularly the twelvefold way and combinations without replacement. It can also be used to analyze coincidences that happen in lottery drawings, such as repeated numbers appearing across different draws. [1
The first Tattslotto draw, with the first prize of A$50,000, was on 24 June 1972, televised on HSV-7 Melbourne. Tattslotto, which was the first of its type in Australia, was originally based on the European style 6-from-49 lotteries, where six numbers are selected from 40 in a standard game.
Lottery payouts are the way lottery winnings are distributed. Typically, lotteries pay out around 50–70% of stakes (turnover) back to players. The remainder is then kept for administration costs and charitable donations or tax revenues. In gambling terminology lottery payouts are the equivalent of RTP (Returns To Players).
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Lesser prizes are won if one's number is up to 50,000 either side of the Bullseye, with prizes increasing in value as one's number gets closer to the Bullseye number. For the purposes of winning, the numbers are viewed as circular, with 999999 followed by 000000 (e.g. if the winning number was 975555, the winning range would be 925555 to 025555).
Using a five horse box trifecta, the bettor may wish to lay only $20 on the outcome. Their percentage of winnings is now calculated as $20/$60 = 33.3%. If the bet is successful, the payout will be 33.3% of the winning amount for a full unit bet. In recent times the "Roving Banker" variant for Trifecta and First4 betting is now offered. For a ...