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An analogy that may help differentiate between “odds” and “RTP” and whether the practice was fair, is to imagine playing a slots game with a progressive jackpot that must trigger by a certain dollar amount. Ongpin sold his shares to Gregorio Ma. For the price of a ticket, two random players were promised a chance to win ,000 per year for 30 years, or million each....

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For the price of a ticket, two random players were promised a chance to win ,000 per year for 30 years, or million each. The consortium failed to deliver promised profit margins to the state. Although unrelated to Northstar, in August 2015 we reported that a state budget impasse was keeping any lottery jackpots from being paid out – that situation continued until a December 2015 bill authorized billion to fund the lottery....

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In that scenario, a small percentage of every bet goes to feed the progressive jackpot. In the first instance of the game, only 64 percent of tickets were sold. If that game were pulled before the progressive jackpot was won, players who had contributed to the rising big prize may feel they didn’t get their money’s worth....

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According to the Tribune report, only 49 percent of the second g In July 2016, it was reported that Illinois was seeking a new private firm to manage the state’s lottery.Northstar Lottery Group became the first private firm in the United States to run a state lottery, rather than the state itself, when Illinois granted a contract to the long time rivals, working together as Northstar in 2011....