(This is the Commissions Press Release)
Lottery Debuts First
$10 Instant Ticket
It's called Jingle Bucks and it qualifies as another first for the Texas Lottery---the first $10 instant ticket.
"Jingle Bucks has the best odds of winning of any instant ticket we've ever produced, one in 2.46," said Stephanie Goertz, Texas Lottery Commission instant ticket product manager. "What players can expect is more than $70 million in prizes."
Goertz says the ticket was tested with focus groups in several cities around the state. Group participants rated the game favorably because of the tickets play style.
"What they liked was the 10 opportunities each ticket offers to win," she said. "Folks also told us they liked the fact that the top prize was $100,000, and that there were plenty of significant prizes at different levels."
"Jingle Bucks is a seasonal ticket," she said. "It's just in time for the holidays." According to Goertz, several other state lotteries have produced similar $10 ticket games.
"Some states such as Connecticut have already offered a $20 ticket," she said. "As lotteries mature, they start offering their players different kinds of products. It's all part of the maturing process of lottery games."
Jingle Bucks offers eight top prizes of $100,000. Players can also win prizes of $10,000, $1,000, $500 and more down to $10. (end press release)
And this is the cold hard truth ...
The player spends $10 to buy this ticket. He gets $10 back - tell me, what did he win? Didnt he just break even? The TLC is promoting the odds of winning as 1 in 2.46 for this game - in their calculations, they include the numbers for that $10 return. A very good way to make the odds look better. Huh? But clearly not the truth. I dont know about you, but Id like to know the truth about my odds of winning. To use Governor Bush's words, Id call this fuzzy math.
- The True Odds for Jingle Bucks -
(Odds based on 10,080,000 tickets but they
actually received 10,157,175!)
The odds of NOT LOSING are 1 in 2.45
The odds of WINNING (getting back more than your $10)
are 1 in 7.87
The odds of winning individual prizes in this game are:
$100,000 - 1 in 1,260,000
$10,000 - 1 in 672,000
$1,000 - 1 in 63,000
$500 - 1 in 1,600
$250 - 1 in 600
$100 - 1 in 142.8
$50 - 1 in 50
$20 - 1 in 23.07
$15 - 1 in 18.75
$10 - 1 in 3.57
- The Complete Breakdown -
||# of Tickets
For a true picture, take
$10 "break-even" tickets
||Cost of Ticket
- The Truth Is -
- Out of 10,080,000 tickets -
Winning Tickets - 1,269,843
Break Even Tickets - 2,822,400
Absolute Losers - 5,987,757
Note: There were more tickets printed than what is shown here. The TLC, like most of us, receives what printers call "overs." The number, 10,080,000, is probably indicitive of what they ordered, but they actually received more than this. I asked the TLC for the "exact" number printed but they told me I would have to make an Open Records request to get it. Imagine that!
11-22-00 - Today I received the total number of tickets printed - They received 10,157,175 tickets. That is 77,175 additional tickets for this game. As to how many of those give a return of any kind, I do not know. I will have to find out.
Again, I emphasize, the Commission owes us the truth. They can make as much money as they want - as much as people are willing to spend - but tell us the truth and quit misrepresenting the facts.