There are several types of lotteries. Five-digit games, also known as Pick 5 or Daily Numbers, require players to pick five numbers. Most lottery games have fixed prize structures that are equal no matter how many tickets are sold. These are usually referred to as “fixed jackpots,” and the total prize pool is divided among the winners. In addition to fixed jackpots, daily numbers games also usually offer a force-majority clause to protect winners in case of non-performance. Four-digit games, on the other hand, involve selecting four numbers. These are equivalent to five-digit games.
A general utility function can be used to explain why lottery purchases occur. An individual can maximize his expected utility by purchasing lottery tickets, but this requires adjusting the utility function to include the risk factor that is inherent in buying a lottery ticket. People may buy lottery tickets for fun and the fantasy of being wealthy, but these tickets are largely uneconomic. As a result, expected utility maximization models can be used to better explain lottery purchases. There is no need for individuals to buy lottery tickets when there are alternative, more practical ways to achieve the same end.
Other lottery-style games are available online. Some states, such as New Hampshire, have a web presence that allows players to purchase tickets online. In addition, the lottery’s lottery website has been converted to be mobile-friendly, so players can check their winning numbers on the go. A self-service ticket scanner allows players to check their winning numbers immediately. A vending machine is another convenient way to buy lottery tickets. The New Hampshire lottery’s online lottery, NeoPollard Interactive, offers several games on its website. Users can buy Powerball tickets online or download apps that allow quick or custom number selection.