2 quick Lotto Texas winners put state in bind

Comment #8

tiggs95 — Tue, 24 Aug 2010 18:23:57 GMT

huh..

Comment #7

rdgrnr — Tue, 17 Aug 2010 01:52:29 GMT

I've been married to a few women like that. Constantly looking for something to complain about. Lord knows there's nothing about me to complain about. No flaws, no shortcomings of any nature. Mild mannered, easy going, polite, disciplined, cultured, responsible, generous, slow to anger, forgiving, reserved, thoughtful, giving, fun-loving, adventurous, witty, caring, kind, romantic, spontaneous, soft-spoken, funny, long-lasting, educated, gregarious, trustworthy, loyal, loving, truthful, jovial,... [ More ]

Comment #6

Todd — Mon, 16 Aug 2010 22:40:22 GMT

It is unfortunate that Nettles gets so much attention in Texas. For some reason, the local newspapers feel she has some kind of experience to draw upon, but now the lack of depth is clearly exposed. I'm not sure why they feel that Nettles has the financial background to comment on a story like this. (I took the Nettles quote from a local newspaper story.

Comment #5

KY Floyd — Mon, 16 Aug 2010 21:14:55 GMT

Nettles must not understand business or math.

The two prizes totaled $27 million. Let's assume that the payout is 60% of sales instead of the typical 50%. To have $27 million in the prize pool the lottery would then have to sell just shy of $45 million. If they were $3.4 million short they had $23.6 million. That would mean sales were a bit over $39 million. 39 million - 27 million = 12 million. I'll assume those prizes are annuites and the actual cash value is 50%, so it becomes 19.5 - 13.5... [ More ]

Comment #4

rcbbuckeye — Mon, 16 Aug 2010 00:06:53 GMT

Nettles is a chronic bitcher. For whatever reason she has always had a bug up her rear about the Texas Lottery Commission.

I read about sales not covering winnings in the paper, and obviously, people aren't playing like they used to, probably because of PB and MM, and also the economy. But if the Commission does what Nettles wants, it will kill the Lotto game. There are people who are loyal to the Lotto game more so than the MM and PB.

Overall the lottery is making money, which is what it... [ More ]

Comment #3

Todd — Sat, 14 Aug 2010 19:50:00 GMT

Unlike Nettles, I love what the Texas Lottery is doing. They're putting some skin in the game too. Nice.

Comment #2

RJOh — Sat, 14 Aug 2010 16:26:21 GMT

Ohio had a similar problem at one time.

Ohio use to have a state lottery game that started at $4M and grew $4M each draw. After surrounding states started their own games and Ohio lost out of state players, they changed their game by starting it at $4M and increasing it by $2M each draw and when that didn't work they got rid of it and replaced it with Lot'O Play which they said would be more fun even though its tickets were $2 ea. with higher odds and paid out less.

After a year they go... [ More ]

Comment #1

PERDUE — Sat, 14 Aug 2010 15:45:38 GMT

I'm glad to see that the TLC is willing to Rob the state to pay the player. Makes me feel good to know that when I go cash my lottery check I don't have to wonder if it will bounce because of non-sufficient funds. If they decide to do what Ms. Nettles suggest I'll still play the TX Lotto. Mega Million and PowerBall are nice and fun to play, but the TX Lotto--TX Two-Step--TX Cash 5 are my preferred games. Of course I gotta dabble with TX Pick 3 and TX Pick 4.

2 quick Lotto Texas winners put state in bind

Lottery Post — Sat, 14 Aug 2010 13:28:50 GMT

By Todd Northrop

Two recent Texas Lotto winners have hit jackpots of $21 million and $6 million, but for the Texas Lottery it has meant dipping into revenues by $3.4 million to cover the prizes.

In just the past 10 days, two lucky lottery players have matched all six Lotto Texas numbers, but the lottery did not sell enough tickets during that period to fully cover the advertised prize.

The shortfall was created by the way the Texas Lottery generates its new advertised jackpot amount eac... [ More ]