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AMENDMENTS TO LOTTO TEXAS GAME

18/05/2005

The three-member Texas Lottery Commission voted unanimously to authorize proposed amendments that could bring changes to the Lotto Texas game as early as mid-July.

“Today's vote sends a strong message to our players,” said Texas Lottery Commission Executive Director Linda Cloud. “That message is, Lotto Texas is a winning game, and now, it's even better with a chance for larger jackpots and higher winning prizes!"

Players of the Texas Lottery's six-of-six game currently attempt to match six-of-50 numbers for a minimum jackpot prize of $4 million. Currently, the odds for winning the top prize are 1 in 15.9 million. When the new changes take effect, players will choose six-of-54 numbers with top winning odds of 1 in 25.8 million.

But while the odds of winning the top jackpot decrease the amount of prize levels is increasing. The prize payout, or amount of cash winnings returned to Lotto Texas players, will also be raised from 50% to 55% of total Lotto sales.

"A large number of our players, and retailers, have told us they want bigger jackpots and higher prizes," Cloud said. "Now, we are in a better position of being able to give them exactly what they want."

Today's action marks the first significant changes to Lotto Texas since the games inception seven-and-a half years ago. For the last three-and-a half years Lotto sales have been declining. This can be attributed to a natural decline in sales and revenues experienced by other states as well as more frequent jackpot amounts of less than $15-$20 million.

"Until now, the majority of our players voted against Lotto Texas status quo by not buying tickets," Cloud said. "Hopefully, after these new changes take affect, they will begin to experience the excitement and winning experience they've been missing and return to the Lotto game."

The proposed changes are projected to bring $166 million more in yearly sales and to contribute $26 million more to the Foundation School Fund. Over the next five years, more than $111 million in additional deposits are anticipated which will help fund Texas' educational programs.

Retailers can expect to see a total of $8.3 million in additional sales commissions per year. There are approximately 15,594 Lotto Texas retailers in Texas. An additional 1,117 retailers sell instant tickets only.

The changes to Lotto Texas under this proposal are the following:

* The number of balls used in the drawing will change from 50 to 54;

* The payout will increase from the current 50 percent of sales to 55 percent;

* Odds of winning the jackpot decrease from the current one-in-15.9 million to one-in-25.8 million;

* Lower-tier prizes will climb, on average, from the current $3-$1,500 to $5-$2,500. The guaranteed $3.00 prize for 3 of 6 winning numbers will increase to a minimum of a $5.00 prize for 3 of 6 winning numbers;

* The average jackpot will increase from the current $11.3 million to a projected $19 million over a 52-week period.

“This is a process all successful groups follow to improve their products and revenues," added Cloud. "And with increasing competition around every corner today's action will go a long way towards keeping the Texas Lottery a leader in lottery sales."

Currently, the Texas Lottery ranks 4th in total lottery sales in North America.