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Beginning in April 2013, Lotto Texas gives players the opportunity to increase the size of their winnings. By purchasing the Extra option for $1 more, all prizes except the Jackpot will be tripled.
Is this a good value for players? Should the player buy this option? Lottery Power Picks believes that the answers are both Yes and No , depending on the Jackpot size.
For this analysis, LotteryPowerPicks calculated and compared the the payout return values of buying 1 Lotto Texas Ticket against buying 1 ticket with the Extra Option for $2. The higher the return, the better for players.
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Table TX6-Xtra1 Lotto Texas Summary
Money Returned to Players per $1 Spent
| | Jackpot | $0 | $5,000,000 | $11,408,876 | $20,000,000
| | 1 Ticket | $0.095 | $0.289 | $0.537 | $0.869
| w/ Extra | $0.316 | $0.413 | $0.537 | $0.703
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| Breakeven
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As Table TX6-Xtra1 illustrates, the Extra Option returns more money to players when theJackpot is less than $11,408,876 $11,408,876. When the Jackpot is greater than this amount, more money is returned to players who buy tickets without the Extra Option.
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Lotto Texas Extra Rule
Jackpot < $11,408,876 : Buy Extra
Jackpot > $11,408,876 : Do NOT Buy Extra
How These are Calculated
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| Probability
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| $0 Jackpot
Constant Variable 'c'
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| $1 Million Jackpot
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| $11,408,876 Million
Jackpot Breakeven
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| $20 Million Jackpot
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Table TX6-Xtra2 Lotto Texas
Probability Matrix
One Ticket
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| Won | Probability
| | 6 | 0.000004%
| | 5 | 0.001115%
| | 4 | 0.065512%
| | 3 | 1.339365%
| | 2 | 11.300892%
| | 1 | 39.779140%
| | 0 | 47.513972%
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Table TX6-Xtra3a Lotto Texas
$1 Single Ticket
No Extra
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| Won | Prize | Prob
Wtd
| | 6 | 0 | $0.000
| | 5 | 2,000 | $0.022
| | 4 | 50 | $0.033
| | 3 | 3 | $0.040
| | 2 |
| $0.000
| | 1 |
| $0.000
| | 0 |
| $0.000
| | Per $ | $0.095
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Constant Variable 'c'
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Table TX6-Xtra3b Lotto Texas
$1 Single Ticket
No Extra
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| Won | Prize | Prob
Wtd
| | 6 | 5,000,000 | $0.194
| | 5 | 2,000 | $0.022
| | 4 | 50 | $0.033
| | 3 | 3 | $0.040
| | 2 |
| $0.000
| | 1 |
| $0.000
| | 0 |
| $0.000
| | Per $ | $0.289
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Table TX6-Xtra3c Lotto Texas
$1 Single Ticket
No Extra
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| Won | Prize | Prob
Wtd
| | 6 | $11,408,876 | $0.346
| | 5 | 2,000 | $0.022
| | 4 | 50 | $0.033
| | 3 | 3 | $0.040
| | 2 |
| $0.000
| | 1 |
| $0.000
| | 0 |
| $0.000
| | Per $ | $0.537
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Jackpot Breakeven
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Table TX6-Xtra3d Lotto Texas
$1 Single Ticket
No Extra
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| Won | Prize | Prob
Wtd
| | 6 | 20,000,000 | $0.774
| | 5 | 2,000 | $0.022
| | 4 | 50 | $0.033
| | 3 | 3 | $0.040
| | 2 |
| $0.000
| | 1 |
| $0.000
| | 0 |
| $0.000
| | Per $ | $0.869
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| With Extra Option
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Table TX6-Xtra4a Lotto Texas
$2 Single Ticket
With Extra
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| Won | Prize | Prob
Wtd
| | 6 | 0 | $0.000
| | 5 | 12,000 | $0.134
| | 4 | 150 | $0.098
| | 3 | 13 | $0.174
| | 2 | 2
| $0.226
| | 1 |
| $0.000
| | 0 |
| $0.000
| | Sum | $0.632
| | Per $ | $0.316
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Constant Variable 'c'
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Table TX6-Xtra4b Lotto Texas
$2 Single Ticket
With Extra
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| Won | Prize | Prob
Wtd
| | 6 | 5,000,000 | $0.194
| | 5 | 12,000 | $0.134
| | 4 | 150 | $0.098
| | 3 | 13 | $0.174
| | 2 | 2
| $0.226
| | 1 |
| $0.000
| | 0 |
| $0.000
| | Sum | $0.826
| | Per $ | $0.413
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Table TX6-Xtra4c Lotto Texas
$2 Single Ticket
With Extra
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| Won | Prize | Prob
Wtd
| | 6 | $11,408,876 | $0.442
| | 5 | 12,000 | $0.134
| | 4 | 150 | $0.098
| | 3 | 13 | $0.174
| | 2 | 2
| $0.226
| | 1 |
| $0.000
| | 0 |
| $0.000
| | Sum | $1.074
| | Per $ | $0.537
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Jackpot Breakeven
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Table TX6-Xtra4d Lotto Texas
$2 Single Ticket
With Extra
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| Won | Prize | Prob
Wtd
| | 6 | 20,000,000 | $0.774
| | 5 | 12,000 | $0.134
| | 4 | 150 | $0.098
| | 3 | 13 | $0.174
| | 2 | 2
| $0.226
| | 1 |
| $0.000
| | 0 |
| $0.000
| | Sum | $1.407
| | Per $ | $0.703
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