ND1101114

Title: Powerball Prices, Payouts to Increase

Description: Texas lottery officials maintain higher ticket costs and payouts will benefit players, retailers and the state?s Foundation School Fund.

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FORT WORTH, TX ? Beginning next year, the Powerball game will increase from $1 to $2 per ticket for Texans, though payouts will also increase, the Star-Telegram reports.

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?We are excited to provide the enhanced Powerball game in Texas,? said Gary Grief, executive director of the Texas Lottery Commission. ?By introducing this new game at a $2 price point, we are able to emulate our successful instant-ticket strategy of providing a range of games at varying price points. Players who prefer to spend $1 per play will still be able to participate in the Lotto Texas and Mega Millions drawing games.?

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Beginning January 18, Powerball?s starting jackpots will double to $40 million. Players will still choose five numbers among 59, but the Powerball number will be from a pool of 35 instead of 39.

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The revised game will also allow players to pay an extra $1 with a chance to win increased non-grand-jackpot prizes, including the chance to win $2 million or more.

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Lottery officials said the changes improve the odds of winning the jackpot to 1 in 175 million, down from the current 1 in 195 million.

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Texas first launched Powerball in January 2010, partway through its fiscal 2010, during which it generated $68.5 million in sales for the state. In fiscal 2011, the game generated $124.2 million.

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?We feel that the new game will benefit Texas lottery players and retailers and, more importantly, we hope it will provide increased revenues for the Foundation School Fund,? said commission Chairwoman Mary Ann Williamson.?

Content Subject: Marketing/Merchandising

Formatted Article Date: November 1, 2011

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