texas lottery

     

Lotto Texas is one of the games offere by the Texas Lottery. It began in the early 1990s, and has undergone several format changes (including one with a mega ball, similar to Texas' most popular game Mega Millions.) Lotto Texas has always been drawn Wednesdays and Saturdays. The matrix as of spring 2007 is a pick-6-of-54. Players win by matching three, four, five, or (for the jackpot) all six numbers. Three numbers wins $3; the other prize levels are parimutuel. The jackpot starts at $4 million (annuitized) and increases by at least $1 million for each rollover. Unusual among US lottery jackpot games is that, when buying a ticket (instead of after winning), players must choose whether they wish to collect a jackpot either by "cash value option" (CVO) or annual payments. The vast majority of players choose lump sum. (In Texas, having to choose when playing also applies to Mega Millions.)

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