Privatization of Texas lottery may get 2nd look in 2009

Comment #5

LANTERN — Sat, 12 Apr 2008 17:29:29 GMT

I made a mistake on the last post.

A pick 5 of the 10 x 10 x 10 x 10 x 10 kind would or should pay up to $50 000 and not $5 000 as I posted before.

Comment #4

LANTERN — Fri, 11 Apr 2008 18:49:21 GMT

I think that it is crazy!

They can make more money for sure, but not as much as they think that they can.

The 2 big problems might be the state government and the lottery itself.

In order to make more money they would have to be free of all and any restrictions, that is being able to handle the lottery on their own, without the state government and the lottery getting in their way.

But even is that was possible which would not, they still would not be able to make as much as they thi... [ More ]

Comment #3

TexasDreams — Thu, 10 Apr 2008 01:40:25 GMT

I play the Texas Lottery every Wed and Sat., its a system with flaws. The TLC payouts are gerrymandered, you may get the advertised jackpot or some other amount based on TLC calculations. The formula can be downloaded from their website for each jackpot, if you trust the numbers. Rick Perry is trying to do anything to make his name a candidate for the GOP Veep nom, so I would not count on the privatization really happening, its just Texas Politics at it's best.

Comment #2

Drivedabizness — Wed, 09 Apr 2008 00:24:17 GMT

The article is interesting, but like almost every other article I've seen on this topic, short on details and loaded up with not-necessarily-true assumptions.

Lantern - did you know that the Legislature dropped payouts in TX some years back? They made the unfounded assumption that the Lottery is a zero-sum game and if you lower payouts, those dollars will simply flow though to profits. They lost several hundred million in profits before they PARTIALLY restored payouts in TX - but they st... [ More ]

Comment #1

LANTERN — Tue, 08 Apr 2008 18:08:27 GMT

If they want more sales, they should pay more money out in wins, more wins and higher wins.

Privatization of Texas lottery may get 2nd look in 2009

Lottery Post — Tue, 08 Apr 2008 14:42:00 GMT

Texans could buy lottery tickets at the checkout lines in supermarkets and big-box department stores, at coffee shops and cabarets. They could pay with credit cards or personal checks and play online or the old-fashioned way with a ticket that's also a tiny ad for anything from soft drinks to sporting events.

Those are just some of the proposals offered to state officials by some of the nation's largest financial firms that have an interest in remaking the 16-year-old government-run Texas Lot... [ More ]