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Lottery ticket price rise.
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Posted January 16, 2013 at 7:26PM
Lottery tickets are to jump to £2 per ticket in November.
Will you still play???
I have one lucky dip each week, but I'm not sure that I want to throw £2 away, particulary as I can't remember the last time I got 3 numbers.
The prize for three numbers will rise to £25, but most of the other prizes are dropping in value.
What suprised me was that "800 players match five numbers or five plus the bonus", that's not very many, shows what a long shot it is.
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Posted January 21, 2013 at 6:13PM
Am I being stupid here, if so please feel free to tell me so. The prize money may be changing when the cost of a ticket goes up but surely the odds of me winning are remaining exactly the same. I still have to get a minimum of 3 numbers to win a prize and all six numbers to win the top prize. If the odds for winning were increased perhaps by allowing two numbers plus the bonus ball or some similar combination I might be persuaded to invest again but all I can see is a larger outlay and no more chance of winning.
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Posted January 21, 2013 at 6:29PM
It's not an easy task to complete the application nor should it be. The people awarding the grants have to be sure that they have received as much relevant information as possible. The grant organisation sets the rules and those applying for the grants have to make sure that they jump through all of the hoops and in the correct order. Having said that there is advice available and they should be able to find that advice.
I am sure that there are not any hidden agendas.
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Posted January 21, 2013 at 6:36PM
I've decided to increase my Premium Bonds instead. Having compared my expenditure and returns between Lottery and PBs it's a no-brainer.
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Posted January 22, 2013 at 12:17AM
chub_tor
You're not being stupid at all - the odds against you winning a specific prize are exactly the same, whether the ticket price is £1 or £2.
The change will be that you stand a greater chance of winning a raffle prize of £20,000 because there will be more of them - a quaranteed 50 people will win that amount in each draw.
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Posted January 22, 2013 at 1:33PM
According to Wikipedia... at the present time...
3 numbers £10 Odds 56 to 1
4 numbers 22% of remaining fund Odds 1,031 to 1
5 numbers 10% of remaining fund Odds 55,490 to 1
5 numbers and bonus 16% of remaining fund Odds 2,330,635 to 1
6 numbers 52% of remaining fund Odds,13,983,815 to 1
Come October when they change the price the odds will remain the same but they are going to change the minimum prize to £25 and presumably juggle the percentages so that the prize money allocated to each group will increase. But I still don't understand how they can guarantee that there will a minimum of 50 people each drawing that will win £20,000. What happens if the combination of numbers is such that there are not 50 purchasers of that particular band (eg 5 numbers plus bonus). Surely they can't drop it down to the next level of just 5 numbers and give all of those £20,000 each?
My brain hurts.....
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Posted January 22, 2013 at 3:17PM
I have not looked into it in any detail, but the way I see it is that the Guaranteed 50 people winning £20,000 will be decided by a separate Draw for the £20,000, just as in the Euro Lottery and Draw.
So participants are paying £1 for a Lottery Line, plus £1 for a Draw Number.
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Posted January 22, 2013 at 4:13PM
Nontek
And you aint got no choice! It's take it or leave it!
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Posted January 22, 2013 at 5:31PM
Nontek
That would make sense if it is not part of the main Lotto Draw but is that included in the new £2 ticket?
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Posted January 22, 2013 at 5:39PM
chub_tor it is one of Camelots's reasons for hiking the price! You get the PRIVILEGE of entering a separate raffle (just like the Euromillions one and it's FREE!!!
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Posted January 22, 2013 at 6:26PM
SillBill
"(just like the Euromillions one and it's FREE!!!"
No it isn't, you've invented that idea - you pay £2 per entry on Euromillions, and you have no choice about entering the raffle in that lottery, it's included in the ticket price.
The difference with Euromillions is that there is one guaranteed UK instant millionaire in each draw. That's the reason that the Euromillions entry price was increased to £2
When the new £2 Lotto ticket price comes into effect in the autumn, the prize for 3 correct numbers will increase from £10 to £25
The main jackpot prizes for both weekly draws will increase, and there will be 50 winners of £20,000 in each draw. The entry price will be included in the ticket price, as in Euromillions.
The reason for Camelot "hiking the price" as you put it was (for the umpteenth time) because players said they wanted more raffle prizes and a bigger jackpot. It's pretty simple really, but you seem to be having a problem understanding it.
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