Texas Lotto Jackpot Is Highest It’s Been in 13 Years

Everyone is always talking about Mega Millions and Powerball and sometimes forgets that the Texas Lotto has its own drawing. While the jackpot values aren't as high, it is still a chance for you to get rich.  The Texas Lotto drawing hits its highest mark since 2010!  Wednesday's (04/05/23) jackpot has climbed to $62 million. Here is the breakdown of annual payments and cash lump sump.

Wednesday's drawing offers an estimated cash value of $38.3 million. If someone wins Wednesday night and takes the cash value option, they'll pay approximately $9,192,000 in federal taxes (24%) and take home roughly $29,108,000. Texas lottery winners don't pay a state tax on lottery winnings.

Wednesday's drawing is the 86th in the current Lotto Texas jackpot run since starting as an estimated annuitized $5 million for the Sept. 19 drawing. This is the largest Lotto Texas jackpot up for grabs since the drawing on May 29, 2010, when the advertised jackpot reached an estimated $97 million.

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The latest edition has been released recently with the top prize of $250,000  So I thought, I would break down the odds on a full book, just for fun:

GAME 2410 MONOPOLY: 

There are a total of 50 tickets in a book: $500.00 

Guaranteed payout on each book: $250.00 

As you see, the odds always are in favor of the Texas Lottery. However, the question will you buy or play a book that has those extra surprises?

Overall odds of winning any prize on this ticket is 1 in 3.80

A $50.00 winner is found at least once in every two books. The odds are 1 in 33

A $100 winner is found at least once in every 2 books. The odds are 1 in 100

A $200 winner is found at least once in every 8 books. The odds are 1 in 405

A $500 winner is found at last once in every 60 books. The odds are 1 in 3000

A $1000 winner is found at least once in every 400 books. The odds are 1 in 20,000. There is a total of 42 $1000 prizes in this game.

A $10,000 winner is found at least once in every 20,100 books. The odds are 1 in 1,005,000 There are a total of 8 $10,000 prizes in this game. 

A $50,000 winner is found at least once in every 40,200 books. The odds are 1 in 2.010,000. There are a total of 4 $50,000 prizes in this game. 

Top prizes of $250,000 are found once in every 32,160 books, The odds are 1 in 1,608,000 There are a total of 5 top prizes.

All information is courtesy of the Texas Lottery website.

Please play Texas Scratchers responsibly!