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Texas Lottery will guarantee advertised jackpots

Texas LotteryTexas Lottery: Texas Lottery will guarantee advertised jackpots

The Texas Lottery Commission approved guaranteed Lotto Texas jackpots Monday, a measure designed to win back player confidence and avoid more inflated prize estimates by the nation's third-largest lottery.

The lottery was rocked this summer by revelations that former Executive Director Reagan Greer signed off on advertising jackpots that were higher than ticket sales could support. Greer resigned in July after Commissioner Tom Clowe told legislators that he thought the executive director had deceived the public.

As expected, the commission approved the guaranteed jackpot measure by a 2-0 vote Monday.

The measure means grand prize winners will be paid either the advertised jackpot or the jackpot based on sales, whichever is greater.

The Lotto Texas jackpot starts at $4 million and traditionally grows by at least $1 million each time no tickets match all five numbers and a bonus ball.

Under the old rule, the commission could use its reserve fund to pay a grand prize winner if it hadn't sold enough tickets to cover the jackpot during the first four drawings. But ticket sales usually are slow until the jackpot reaches $9 million.

The new rule, which will take effect late this month, requires lottery officials to make a "fair and reasonable" estimation of potential jackpots. If ticket sales fall short, the lottery would be allowed to pull money from other lottery funds to cover the difference.

Since the inflation came to light, officials have been holding the advertised jackpot at the same amount for several drawings until enough tickets are sold to warrant increasing it.

Another major Lotto Texas changes discussed Monday involve the field of numbers from which players choose.

Currently, players can win the Lotto Texas jackpot by matching five numbers between 1 and 44 and one bonus ball number from 1 to 44. Lottery staff members suggested having players select six numbers between 1 and 54 with no bonus ball — the way the game was played before the bonus ball was added in 2003.

AP

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7 comments. Last comment 11 years ago by CASH Only.
Page 1 of 1

United States
Member #379
June 5, 2002
11296 Posts
Offline
Posted: November 1, 2005, 2:40 pm - IP Logged

I like the 6/54 idea. Easier-to-win jackpots, but not too easy. Texas should be considering a free play for 2/6 similar to Massachusetts Ca$h WinFall.

    Todd's avatar - Cylon 2.gif
    Chief Bottle Washer
    New Jersey
    United States
    Member #1
    May 31, 2000
    23269 Posts
    Online
    Posted: November 1, 2005, 2:48 pm - IP Logged

    I'm against free ticket prizes.  I would prefer getting $1, giving the player a choice of how to spend their prize, and not forcing them into a cycle of chasing their money.

     

    Check the State Lottery Report Card
    What grade did your lottery earn?

     

    Sign the Petition for True Lottery Drawings
    Help eliminate computerized drawings!


      United States
      Member #379
      June 5, 2002
      11296 Posts
      Offline
      Posted: November 1, 2005, 3:19 pm - IP Logged

      I have no problem with free plays. NY Take Five has always had a 2/5 prize since it began nearly 14 years ago.

        Avatar
        Northern California
        United States
        Member #19948
        August 9, 2005
        151 Posts
        Offline
        Posted: November 1, 2005, 4:43 pm - IP Logged

        I agree with Todd - I do not llike the idea of "free ticket" prizes.

         

        Many players do not consider them a win in the first place - all they do is allow the lottery to inflate their advertised overall odds of winning (unless they actually post the odds of winning a cash prize).  The prize expense of the free tickets can be much better spent elsewhere, IMHO.

         

        Who wants to bet what happens when they give their "players" (the people who say they speak for the players) back a "6 of" matrix?  I don't see an upsurge of sales happening but I hope they get it.

          Avatar
          Sparta, NJ
          United States
          Member #18331
          July 9, 2005
          1977 Posts
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          Posted: November 1, 2005, 6:22 pm - IP Logged

          A free play is one step away from a sucker bet. No loss to the Lottery nor the retailer, and the fish has been hooked. Its all a degree of how atractive the lure is.

          Cheers

          |||::> *'`*:-.,_,.-:*''*:--->>> Chewie  <<<---.*''*:-.,_,.-:*''* <:::|||

          I only trust myself - and that's a questionable choice

            Avatar

            United States
            Member #1826
            July 11, 2003
            2645 Posts
            Offline
            Posted: November 1, 2005, 6:28 pm - IP Logged

            I think Todd's plan works best. What would you rather have, a sure $1, or a longshot chance at $5? How about this plan for the 6/54 game.

             


            Avg. Prize
            Prize Pool %
            Match 6
            JACKPOT
            75% of remaining pool
            Match 5
            $3,000
            10% of remaining pool
            Match 4
            $80
            15% of remaining pool
            Match 3
            $5 Fixed
            Taken out first
            Match 2
            $1 FixedTaken out first

            52.5% of sales go to prizes. The prize pool is divided between the Match 6, 5, and 4 categories after the fixed Match 3, and 2 categories are paid.

            (insert signature here)


              United States
              Member #379
              June 5, 2002
              11296 Posts
              Offline
              Posted: November 2, 2005, 10:31 am - IP Logged

              I think Todd's plan works best. What would you rather have, a sure $1, or a longshot chance at $5? How about this plan for the 6/54 game.

               


              Avg. Prize
              Prize Pool %
              Match 6
              JACKPOT
              75% of remaining pool
              Match 5
              $3,000
              10% of remaining pool
              Match 4
              $80
              15% of remaining pool
              Match 3
              $5 Fixed
              Taken out first
              Match 2
              $1 FixedTaken out first

              52.5% of sales go to prizes. The prize pool is divided between the Match 6, 5, and 4 categories after the fixed Match 3, and 2 categories are paid.

              IIRC the actual payback in Lotto Texas is 52%. Pretty good for all the criticism the game gets.