Everyone is always talking about Mega Millions and Powerball and sometimes forgets that the Texas Lotto has its own drawing. While the jackpot values aren't as high, it is still a chance for you to get rich.  The Texas Lotto drawing hits its highest mark since 2010!  Wednesday's (04/05/23) jackpot has climbed to $62 million. Here is the breakdown of annual payments and cash lump sump.

Wednesday's drawing offers an estimated cash value of $38.3 million. If someone wins Wednesday night and takes the cash value option, they'll pay approximately $9,192,000 in federal taxes (24%) and take home roughly $29,108,000. Texas lottery winners don't pay a state tax on lottery winnings.

Wednesday's drawing is the 86th in the current Lotto Texas jackpot run since starting as an estimated annuitized $5 million for the Sept. 19 drawing. This is the largest Lotto Texas jackpot up for grabs since the drawing on May 29, 2010, when the advertised jackpot reached an estimated $97 million.

93.1 KISS FM logo
Get our free mobile app

The latest edition has been released recently with the top prize of $250,000  So I thought, I would break down the odds on a full book, just for fun:



There are a total of 50 tickets in a book: $500.00 

Guaranteed payout on each book: $250.00 

As you see, the odds always are in favor of the Texas Lottery. However, the question will you buy or play a book that has those extra surprises?

Overall odds of winning any prize on this ticket is 1 in 3.80

$50.00 winner is found at least once in every two books. The odds are 1 in 33

$100 winner is found at least once in every 2 books. The odds are 1 in 100

$200 winner is found at least once in every 8 books. The odds are 1 in 405

A $500 winner is found at last once in every 60 books. The odds are 1 in 3000

A $1000 winner is found at least once in every 400 books. The odds are 1 in 20,000. There is a total of 42 $1000 prizes in this game.

A $10,000 winner is found at least once in every 20,100 books. The odds are 1 in 1,005,000 There are a total of 8 $10,000 prizes in this game. 

A $50,000 winner is found at least once in every 40,200 books. The odds are 1 in 2.010,000. There are a total of 4 $50,000 prizes in this game. 

Top prizes of $250,000 are found once in every 32,160 books, The odds are 1 in 1,608,000 There are a total of 5 top prizes.

All information is courtesy of the Texas Lottery website.

Please play Texas Scratchers responsibly!

MORE: See 30 toys that every '90s kid wanted



More From 93.1 KISS FM