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Texas Lottery launches Set For Life scratch-off games

Aug 3, 2015, 2:02 pm

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Texas LotteryTexas Lottery: Texas Lottery launches Set For Life scratch-off games

Available at four price points

By Todd Northrop

The Texas Lottery today announced a new series of scratch-off games called Set For Life, offering players the chance to win as much as $5,000 per week for the next 20 years.

The new instant game is actually a series of four related games, each with its own price point and prize structure.  The higher-priced games offer the best odds of winning a prize.

Each of the games offers a top prize that pays off a weekly cash amount for 20 years.

"With $1, $2, $5 and $10 games available for play, Set For Life truly offers something for everyone," said Texas Lottery Executive Director Gary Grief. "We expect this to be another successful suite of scratch-off games for the Texas Lottery and look forward to the revenue it will generate for public education."

The new Set For Life games are as follows:

Set For Life $1 game:

  • More than $19.5 million in prizes
  • Top prize of $500 per week for 20 years
  • Five chances to win
  • Overall odds of winning any prize are 1 in 4.77 including break-even prizes

Set For Life $2 game:

  • More than $39.7 million in prizes
  • Top prize of $1,000 per week for 20 years
  • 10 chances to win
  • Overall odds of winning any prize are 1 in 4.36 including break-even prizes

Set For Life $5 game:

  • More than $51.8 million in prizes
  • Top prize of $2,500 per week for 20 years
  • 20 chances to win
  • Overall odds of winning any prize are 1 in 3.81 including break-even prizes

Set For Life $10 game:

  • More than $72.5 million in prizes
  • Top prize of $5,000 per week for 20 years
  • 25 chances to win
  • Overall odds of winning any prize are 1 in 3.52 including break-even prizes

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7 comments. Last comment 5 years ago by computerhead723.
Page 1 of 1
Avatar
New York
United States
Member #157283
July 14, 2014
171 Posts
Offline
Posted: August 3, 2015, 6:01 pm - IP Logged

How can you be Set For Life if the payout ends at 20 years?

    mikeintexas's avatar - h87TsB4
    Texas Panhandle
    United States
    Member #136839
    December 20, 2012
    1660 Posts
    Offline
    Posted: August 3, 2015, 6:08 pm - IP Logged

    How can you be Set For Life if the payout ends at 20 years?

    That's what I was wondering. 

    They already have similar games and one of the very few scratchers I play is Weekly Grand, a $2 ticket.  There's also a dollar ticket, a "Weekly Half-Grand" and other, more expensive ones I don't play that also pay weekly.  I guess this is just a re-branding of those same games.

    Epstein didn't kill himself.

      LottoMetro's avatar - Lottery-024.jpg
      Happyland
      United States
      Member #146340
      September 1, 2013
      1146 Posts
      Offline
      Posted: August 3, 2015, 6:43 pm - IP Logged

      How can you be Set For Life if the payout ends at 20 years?

      Definitely misleading considering the "Set for Life" games in other states are true life annuities with minimum lump sum payouts.

      If the chances of winning the jackpot are so slim, why play when the jackpot is so small? Your chances never change, but the potential payoff does.
      If a crystal ball showed you the future of the rest of your life, and in that future you will never win a jackpot, would you still play?

      P&L % = Total Win($)/Total Wager($) - 1

        fwlawrence's avatar - Yavill
        Austin
        United States
        Member #9378
        December 6, 2004
        221 Posts
        Offline
        Posted: August 5, 2015, 12:09 pm - IP Logged

        The Texas Lottery arranges an "accident" for you after 19 years!

          rcbbuckeye's avatar - Lottery-062.jpg
          Texas
          United States
          Member #55887
          October 23, 2007
          10200 Posts
          Offline
          Posted: August 9, 2015, 11:29 am - IP Logged

          For me 20 years is about it. That would put me at 81 and if my health is bad it would be time to move on.

          Speaking of scratchers, I rarely played them, but lately I've had a little luck with the $5 Break the Bank. Think I'll snag a couple today.

          CAN'T WIN IF YOU'RE NOT IN

          A DOLLAR AND A DREAM (OR $2)

            mikeintexas's avatar - h87TsB4
            Texas Panhandle
            United States
            Member #136839
            December 20, 2012
            1660 Posts
            Offline
            Posted: August 9, 2015, 2:25 pm - IP Logged

            For me 20 years is about it. That would put me at 81 and if my health is bad it would be time to move on.

            Speaking of scratchers, I rarely played them, but lately I've had a little luck with the $5 Break the Bank. Think I'll snag a couple today.

            I've played that one, too, but usually just the two dollar one when they don't have a Weekly Grand.

              computerhead723's avatar - lightbulb
              Buffalo
              United States
              Member #54395
              August 17, 2007
              249 Posts
              Offline
              Posted: August 12, 2015, 12:50 pm - IP Logged

              they  don't  expect  you  to  live  that  long