The instant online lottery jackpot is a prize that can be won when a player purchases a lottery ticket. There are several options for the size of the online jackpot. Some players opt to play for a fixed amount while others prefer to participate in a progressive jackpot. Both of these schemes provide an incentive to purchase tickets.
Traditional online lotteries are designed to sell tickets for a single price. These games typically have a minimum jackpot after the winning number has been selected. However, in an instant online lottery, the jackpot can start at a lower level, such as ten dollars, and continue to grow over time. This allows the player to continue playing and win even if the jackpot is not won.
With a multi-priced instant online model, players can purchase tickets at three different prices. While a one-dollar ticket will have a chance at twenty-five percent of the progressive jackpot, a two-dollar ticket will have a fifty-percent chance at winning the jackpot. A three-dollar ticket will have a sixty-five percent chance at winning the jackpot.
Ticket sales increase the overall size of the progressive jackpot. In addition, more players participate in the game. Therefore, the average progressive jackpot can be higher than in a traditional lottery game.
Third-party prize guarantees can help achieve a higher average progressive jackpot. This is especially true if the starting jackpot is relatively high. It is also possible to increase the average payouts by using probabilistic models.