Texas Holdem Poker Directory

Mega Millions Multi-State Agreement

26/05/2005

Reagan E. Greer, Executive Director of the Texas Lottery Commission, signed a multijurisdiction game lottery agreement making Texas the eleventh state to sell tickets for Mega Millions™, a multi-state game known for its big jackpots.

'This is a big day for Texas,' said Greer. 'Joining Mega Millions brings the Texas Lottery to a new level and increases opportunities for us to generate more revenue for the Foundation School Fund.'

Greer said he would be getting copies of the signed agreement to the other ten member states to sign today and then work with staff to determine a start date for ticket sales.

'I'm still looking at a late fall time frame, and hope Texas players can participate in their first Mega Millions drawing shortly after Thanksgiving,' Greer said.

Mega Millions drawings are conducted in Georgia and are held on Tuesdays and Fridays. Each play costs a dollar. To play Mega Millions, players choose 5 numbers from 1 to 52, and one Mega Ball number from a second field of numbers from 1 to 52. Players must match the five numbers plus the Mega Ball to win the jackpot, which starts at $10 million and increases until it is won.

In the past year, Mega Millions jackpots have averaged $42.3 million. The largest Mega Millions jackpot was $183 million. The Big Game, Mega Millions predecessor, began in 1996 and had a $363 million jackpot in May 2000. The name changed when Mega Millions was created with a new matrix and additional states in May 2002.

In joining Mega Millions, Texas added its own twist to the game. Texas players will have the option of multiplying their non-jackpot prize winnings two, three or four times through an add-on feature called the Megaplier.

'We like to think of it as 'Texas-sizing' your winnings,' explained Greer. 'For an extra dollar, players can choose to 'megaply' their non-jackpot prizes, which can range from $2 up to $175,000.

'Let's say the number three was chosen that night as the Megaplier. A $2 prize for matching the Mega Ball is now $6 for those players who purchased the Megaplier feature,' Greer explained. 'The $175,000 prize for matching five numbers, but not the Mega Ball, is now $525,000 for those players who purchased the Megaplier feature.'

The overall odds of winning any prize in Mega Millions are 1-in-43. The odds of winning the jackpot are one in approximately 135 million.

Texas was able to join Mega Millions through the passage of HB 3459, which Governor Perry signed on June 10. The bill authorized the Texas Lottery Commission to enter a multijurisdiction lottery game. The staff considered Mega Millions and another multijurisdiction game, Powerball, before Greer recommended Mega Millions on August 5 as the game for Texas to join.

'I believe this agreement will serve Texas and Texans well,' said Greer. 'My recommendation to join Mega Millions was based on three factors: revenue to the state, cannibalization of existing games, and the game that was the best fit for Texas.

'I anticipate that the net revenue from Mega Millions will meet or exceed the Legislative Budget Board's initial estimate of $101 million for the biennium,' Greer said.

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