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CAL-LottoPlayer

California
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May 9, 2010, 9:58 pm

The "Lotto Texas" game is now at a huge $89 Million or $58 Million cash level. That's quite an amount considering the odds are "only" 25 million to 1 against you. Nice, really nice. Kinda makes me wish I could drive over there and play a few bucks. California's SuperLotto jackpot hasn't been that high for years and the odds are twice as bad.
Raven62

25

New Jersey
United States
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June 28, 2005
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May 9, 2010, 10:12 pm

Quote: Originally posted by CAL-LottoPlayer on May 9, 2010
The "Lotto Texas" game is now at a huge $89 Million or $58 Million cash level. That's quite an amount considering the odds are "only" 25 million to 1 against you. Nice, really nice. Kinda makes me wish I could drive over there and play a few bucks. California's SuperLotto jackpot hasn't been that high for years and the odds are twice as bad.

You can find it here:

https://www.lotterypost.com/results/tx

Next Drawing: Wed, May 12, 2010, 10:12 pm Central Time

A mind once stretched by a new idea never returns to its original dimensions!

Catch-22: A dilemma or difficult circumstance from which there is no escape because of mutually conflicting or dependent conditions.

Corruptissima re publica plurimae leges: When the republic is at its most corrupt the laws are most numerous.

The best way to learn is to never stop being an Experiential Student!
CAL-LottoPlayer

California
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October 7, 2009
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May 9, 2010, 10:24 pm

ADDENDUM: I checked and the last time the California SuperLotto was $93 Million, the highest in years, was Sept. 1, 2007, drawing #2130. There was one winner from Alameda. It will be interesting to see if the Lotto Texas game goes this high within 2 weeks.
Todd

50

Chief Bottle Washer

New Jersey
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May 31, 2000
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May 9, 2010, 11:01 pm

<Moved to Jackpot Games forum>
Please post in the appropriate forum ... thank you.
Longarm

DFW, Texas
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August 18, 2009
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May 9, 2010, 11:24 pm

I've been watching the "estimated jackpot calculation documents" and found something interesting. The interest factor used to calculate the annuitized amount has gone down significantly for the past few draws. This has resulted in lower annuitized values. For the last two draws the cash value increased by over $1,000,000 while the annuitized value increased by only one million. The reason is that the lower interest factor decreases the projected return on all of the money in the pool.

They have to increase the annuitized amount by at least one million. The past $2,000,000 increases have come back to bite them. Their last pre-draw estimate was about a quarter million short of the cash value needed to support the 88 million in the last draw, but they still had to increase it by at least a million.

This brings up an interesting mathematical question, since current interest rates affect all of the money in the prize pool, and a drop can result in a lower annuitized amount than might be expected after a rollover.

Also, this was the 59th roll, continuing the record streak.
rcbbuckeye

100

Texas
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October 23, 2007
17,726 Posts
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May 9, 2010, 11:35 pm

Quote: Originally posted by CAL-LottoPlayer on May 9, 2010
The "Lotto Texas" game is now at a huge $89 Million or $58 Million cash level. That's quite an amount considering the odds are "only" 25 million to 1 against you. Nice, really nice. Kinda makes me wish I could drive over there and play a few bucks. California's SuperLotto jackpot hasn't been that high for years and the odds are twice as bad.

Well, this is the highest the jackpot has been since the matrix change. It looks impressive, but let me tell you this game is a b**** to win even $3 (3 out of 6).

I run a pool at work with 11 players, and I have tried wheels, qp's, LP's RNG, and playing all the numbers in the matrix in 11 lines, (each player plays $1 per draw). Since I took over in January, we spent $391 and won exactly $9 (3 out of 6 three times).

I'm seriously considering going to MM or PB, whichever has the highest jackpot, (right now it's PB). The overall odds in Tx Lotto are 1 in 71, where in PB it's 1 in 35 and MM is 1 in 40. It would be nice to win even a couple bucks here and there. For sure once it gets hit, we're moving on to one of the other games.

CAN'T WIN IF YOU'RE NOT IN

A DOLLAR AND A DREAM (OR $2)
rcbbuckeye

100

Texas
United States
Member #55,887
October 23, 2007
17,726 Posts
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May 9, 2010, 11:37 pm

Quote: Originally posted by Longarm on May 9, 2010
I've been watching the "estimated jackpot calculation documents" and found something interesting. The interest factor used to calculate the annuitized amount has gone down significantly for the past few draws. This has resulted in lower annuitized values. For the last two draws the cash value increased by over $1,000,000 while the annuitized value increased by only one million. The reason is that the lower interest factor decreases the projected return on all of the money in the pool.

They have to increase the annuitized amount by at least one million. The past $2,000,000 increases have come back to bite them. Their last pre-draw estimate was about a quarter million short of the cash value needed to support the 88 million in the last draw, but they still had to increase it by at least a million.

This brings up an interesting mathematical question, since current interest rates affect all of the money in the prize pool, and a drop can result in a lower annuitized amount than might be expected after a rollover.

Also, this was the 59th roll, continuing the record streak.

Yeah, I noticed that too. We (and I) only play the cash option.

CAN'T WIN IF YOU'RE NOT IN

A DOLLAR AND A DREAM (OR $2)
CAL-LottoPlayer

California
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October 7, 2009
94 Posts
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May 10, 2010, 5:08 am

Yes, I called the California Lotto Office a couple years ago and they told me the same thing. Because of lower interest rates, they lowered their jackpot estimates.
Raven62

25

New Jersey
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May 10, 2010, 8:17 am

Quote: Originally posted by rcbbuckeye on May 9, 2010
Yeah, I noticed that too. We (and I) only play the cash option.

Cash Value Minus Taxes Equals Your Take

A mind once stretched by a new idea never returns to its original dimensions!

Catch-22: A dilemma or difficult circumstance from which there is no escape because of mutually conflicting or dependent conditions.

Corruptissima re publica plurimae leges: When the republic is at its most corrupt the laws are most numerous.

The best way to learn is to never stop being an Experiential Student!
Raven62

25

New Jersey
United States
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June 28, 2005
180,983 Posts
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May 10, 2010, 8:23 am

Quote: Originally posted by CAL-LottoPlayer on May 10, 2010
Yes, I called the California Lotto Office a couple years ago and they told me the same thing. Because of lower interest rates, they lowered their jackpot estimates.

It's better known as the Time Value of Money: Cash Value before Taxes Plus Interest over the Life of the Annuity equals Advertised Jackpot Amount.

A mind once stretched by a new idea never returns to its original dimensions!

Catch-22: A dilemma or difficult circumstance from which there is no escape because of mutually conflicting or dependent conditions.

Corruptissima re publica plurimae leges: When the republic is at its most corrupt the laws are most numerous.

The best way to learn is to never stop being an Experiential Student!

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"Lotto Texas" Now At $89 MILLION ($57.9 Million Cash)Prev TopicNext Topic

"Lotto Texas" Now At $89 MILLION ($57.9 Million Cash)Prev Topic Next Topic