When you purchase instant online lottery tickets, you participate in a jackpot that can grow. The amount of your jackpot depends on the type of game you play. If you choose to play a game that involves a progressive jackpot, you can increase the jackpot’s size by adding a percentage of the total ticket sales revenue. This incentive can encourage players to purchase more tickets. It can also further incentivize players to continue playing after winning.
To win the jackpot, you must be able to match the online lottery number with a combination of game-play numbers. Each game-play combination is made up of eight numbers. You can receive the full jackpot if you match all eight numbers or you can split the jackpot prize.
If you buy a two-dollar instant online lottery ticket, you can be awarded 50% of the jackpot. If you are lucky enough to win a three-dollar ticket, you could receive one million dollars. A five-dollar ticket will give you a chance of receiving two million five hundred thousand dollars. However, if you have a one-dollar ticket, you have a 25% chance of winning the jackpot.
In addition to providing an inducement to buy more tickets, these games are also more likely to reward you with a higher average progressive jackpot. These jackpots can be achieved through probabilistic models, third-party prize guarantees, or a combination of both. Using a probability-based third-party prize guarantee, for example, can be more effective than the traditional pari-mutuel-based single-priced-online lottery model.