The British National Lottery plans to double the price of Lotto tickets from £1 to £2, and people are not happy about the changes.
In January the British National Lottery announced its plan to raise the price of tickets for their Lotto game from £1 to £2 in order to allow for larger prices. This decision came after Camelot Group wanted to give people larger prizes as well as benefit lottery retailers. The average payout for a Saturday Lotto game currently is set at £4.1 million, and the price increase could bring it up to £5 million. The payouts for Wednesday games could rise up to £2.5 million. This is the first price increase for the game since its introduction in 1994. The price hike will go into effect for the Oct 5 drawing.
To play Lotto, players pick 6 numbers from 1 to 49, as well as an additional bonus number. It is the UK’s biggest game, and drawings take place every Wednesday and Saturday. Players only need to match 3 of their numbers in order to win a prize. Players only win from the bonus number if they are able to match at least 5 of the regular numbers.
Despite the promise of higher prizes, many lottery players are upset about the price hike, some threatening to boycott the lottery. Many lottery players feel the price increase is an attempt for Camelot Group to make more money. Others fear their weekly lottery spendings will go up more than they can afford. In the UK, approximately 60% of people 16 and older play the Lotto game on a regular basis. IF someone plays both Lotto drawings each week, they could spend as much as £208 per year, as opposed to the £104 they would currently pay.
Many lottery players are threatening to boycott the game as well as the lottery. They believe the price hike will not bring the higher payouts as promised. Additionally, the British National Lottery has not specified whether or not the price hike will mean better chances, or if they will be paying more for the same chance at a few million.
The Multi-State game Powerball recently went through a ticket price hike. In January 2012, Powerball doubled the price of their tickets from $1 to $2. Additionally, they gave players more ways to win, and increased their odds of winning. Powerball’s adjustment of their game resulted in higher jackpots, and more growth and popularity for the game.
The British National Lottery is hoping for their changes to achieve the same results as Powerball, however players are skeptic. Unless it can prove how the winner will benefit from the price hike, the British National Lottery will continue to face scrutiny.