Showing posts with label xtra. Show all posts
Showing posts with label xtra. Show all posts

Tuesday, January 13, 2015

Pick-6 Lotto (NJ) finally gets an add-on.

For a while now, most NJ lottery games have offered an add-on feature; a chance to win more provided you pay an extra dollar. Pick 3, Pick 4, and the recently ruined Jersey Cash 5 all have Instant Match, while the two multi-state mega jackpot games have their respective multipliers. Now, New Jersey's original jackpot game, Pick-6 Lotto, has a multiplier too. It's very similar to the Xtra feature in Florida's Lotto; in fact, New Jersey's version is also called Xtra. Pay an extra dollar, and you can multiply non-jackpot prizes between 2 and 5 times; and also win $2 cash by matching 2 numbers (something you can't do in the $1 version of Pick-6, and you still can't do in Jersey Cash 5).

I'm not sure if I can recommend this, though. As of yet, there have been no indications about the odds of a particular multiplier coming up. Maybe once I see the drawing, I could find out. My guess is that there's an equal chance of any multiplier coming up, but there's no guarantee. Tennessee's ill-fated Lotto Plus had a multiplier heavily weighted towards the lowest factor, 2x. This created a situation where adding the extra dollar would actually raise the house edge, from 50% for the $1 base game, to about 58% (IIRC) once you added the Plus feature. Hopefully, New Jersey hasn't done this and has created an equitable multiplier scheme. Multipliers are good bets if they're done right.

Thursday, December 20, 2012

New Feature coming to Lotto Texas

In my opinion, the best add-on to a game anywhere is the Xtra feature in Florida Lotto. It not only betters your odds of winning something, but it also raises your expected return from 50% to 60%.

Well, something very similar is coming to Lotto Texas, according to a rules change proposal. It will increase non-jackpot prizes as well as a prize for matching 2 numbers (provided you pay the extra dollar). The difference is that instead of a multiplier, each prize category will have a set prize amount. In addition, matching 2 out of 6 will win $2 cash (Florida pays out a free Lotto ticket with Xtra). The actual amounts are as follows:

MatchPrize
6/6Not Applicable
5/6Regular Prize + $10,000
4/6Regular Prize + $100
3/6$13
2/6$2

Now when this is launched, should you buy it? That is, should you pay the extra dollar? This does raise your rate of return, but only to 51.85%. But considering Lotto Texas contributes less than 10% of sales to lower tier prizes, I'd say Extra is a good buy. Much more of your money will go towards the lower tier prizes (the prizes you might actually win); and along with the $2 prize, getting Extra will play to your advantage.