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Texas proposes Mega Millions changes

Topic closed. 1 reply. Last post 12 years ago by Todd.

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Queens, NY
United States
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April 15, 2002
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Posted: March 16, 2005, 10:20 pm - IP Logged

Below is a press release from the Texas Lottery Commission with changes they want when California joins Mega Millions.


 


Texas Lottery Commission Votes To Propose Mega Millions" Game Changes

(Austin, March 11) - Today, the Texas Lottery Commission voted to propose rule amendments to the Mega Millions" game. The proposed changes come after the California Lottery announced last month that it plans to become the 12th lottery member to join the multi-state game.

"We welcome the opportunity to work with the California Lottery, and having them as an addition to the Mega Millions game will help generate those larger jackpots that players like," said Reagan E. Greer, executive director of the Texas Lottery Commission. "Since Texas joined the game in December 2003, sales in Texas for Mega Millions and the Megaplier feature total more than $343.1 million. Of those sales, more than $136.3 million has been transferred to the Foundation School Fund, which helps support public education in Texas."

The new Mega Millions game is expected to begin this summer, and is projected to generate more than $67 million in additional revenue to the state from sales for the remainder of Fiscal Year 2005 through Fiscal Year 2009.

"There are certainly some new aspects of the game changes that our players will want to be aware of," said Greer. "Overall though, I believe these changes will create a positive scenario for all players and the participating states."

Some of the proposed changes to Mega Millions include:


  • New Matrix: Players will choose five numbers from 1 to 56 and then a Mega Ball number from a second field of 1 to 46.
  • Higher Starting Jackpots: The starting grand/jackpot prize amount will change from $10 million to $12 million.
  • Higher Payouts For Second And Third Tier Prizes: The second prize level will change from $175,000 to $250,000 and the third prize level will change from $5,000 to $10,000.
  • Odds To Win Grand/Jackpot Prize: The odds of matching all the numbers and the Mega Ball for the grand/jackpot prize will change from 1 in 135 million to 1 in 175.7 million.
  • Better Overall Odds: The overall odds of winning any prize will be approximately 1 in 40.

There will be no changes made to Texas' Megaplier" feature, in which players have the chance to double, triple or quadruple any non-grand/jackpot Mega Millions prize. That means players could have the chance to win up to $1 million for matching the first five numbers, but not the Mega Ball (second prize level) if the Megaplier number drawn is a 4.

The proposed changes will be published in the Texas Register for a 30-day public comment period, and a public hearing to comment on the proposed changes is scheduled for April 7, 2005, at 9 a.m. at Lottery headquarters in Austin.

For more information about the Texas Lottery®, please visit the official Texas Lottery Commission Web site at http://www.txlottery.org


. . .


The Texas Lottery supports public education by contributing to the Foundation School Fund.

Megamillionaire

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    Chief Bottle Washer
    New Jersey
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    May 31, 2000
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    Posted: March 16, 2005, 10:32 pm - IP Logged

    Please check the news section for this story.

     

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