Lotto Texas jackpot reaches $62.7 million, highest since 2010
This is the largest Lotto Texas jackpot in play since the May 29, 2010 drawing, when the announced jackpot reached an estimated $97 million.
There was no winner in Monday’s Lotto Texas jackpot drawing, bringing the state lottery’s largest announced jackpot in more than 12 years to an estimated $62.75 million for Wednesday night.
Wednesday’s drawing offers an estimated cash value of $38.3 million. If someone wins Wednesday night and chooses the cash value option, they will pay approximately $9,192,000 in federal taxes (24%) and take home approximately $29,108,000. Texas lottery winners pay no state income tax on lottery winnings.
Gary Grief, executive director of the Texas Lottery, said last week that Lotto Texas sales are steady and “will generate significant revenue for public education in Texas.”
Texas Lottery officials say if you ever get a winning ticket, sign it and keep it in a safe place. Then seek financial and legal advice and call the Texas Lottery to schedule an appointment to claim the prize.
In March, Grief said that while the jackpot is still in play, many Texas Lottery players have walked away with lower-tier Lotto Texas prizes during the recent jackpot race, so he encouraged players to check their tickets after each drawing to see if they have won other cash prizes.
If there is no jackpot winner for Monday night’s Lotto Texas drawing, the Wednesday, April 5 jackpot will exceed $62 million.
The latest jackpot announced is the third largest in North America. Lotto Texas is eclipsed only by the multi-state Mega Millions and Powerball jackpots, whose jackpots are $355 million and $147 million, respectively.
This is the largest Lotto Texas jackpot in play since the May 29, 2010 drawing, when the announced jackpot reached an estimated $97 million.
Lotto Texas has boasted nine different winning jackpot drawings in the $50 million range over the game’s 30-year history.
The last time was for the January 26, 2005 drawing, when a Garland resident claimed a $57 million advertised prize.