Options
National Lottery ticket price increase
FM Lover
Posts: 50,851 Forum Member
✭
I heard on the 2 o'clock news today that the price of a National Lottery ticket will increase by 100% in the autumn to £2.00 per ticket, the first ever increase since its inception in 1994
How on earth are they able to justify such a huge increase? The smaller prizes will increase which is good news but surely people are likely to buy less tickets.
How on earth are they able to justify such a huge increase? The smaller prizes will increase which is good news but surely people are likely to buy less tickets.
0
Comments
With all these stores closing and now this, 2013 hasn't been the best of starts.
Apparently winnings will increase too.
I'd say the fact it was the same price for almost two decades inspite of inflation putting the price of almost everything else up is probably reason enough.
No great surprise.
I agree here, however have the prize amounts increased since 1994?
If they're doubling the price of ticket, then they need to increase the prizes too.
You're paying twice as much for the same chance of winning a little more.
Not worth it IMO.
There has been 70% inflation since 1994.
in line with inflation the ticket price would be £1.70, so £2 is probably reasonable since they have been behind for a while and there wont be another increase for years.
I only do euromillions anyway.
They need to increase the £10 for three numbers to something like £20 then.
Obviously the prizes will go up.
By law the national lottery returns 50% of it's sales in prize money.
either all the prizes will double, or they'll fiddle with it, say by introducing a new bonus ball or something to increase odds of winning.
it's the same as buying two tickets. it's not a scam.
the lottery's mandate is to raise money for good causes. obviously for the same number of players the value of the money they raise has nearly halved since 1994.
Yep - the jackpots used to be around the 6-8 million mark at the start - now down to around 2.
£2 million these days wont buy anything like what it would have done at the start of the lottery in 1994 - the value has reduced significantly due to inflation (winning £2 million in 1994, would be equivalent to winning £3.2 million now).
It'll probably go to £15. I can't see it going to £20.
Yes but inflation doesn't affect the fact that you still win a million for £1 bet.
A million may not be worth the same now because of inflation, but it is still a million.
Unless they are making the prize +70%.
But I'd still rather pay £1 than £2 for the same chance of winning a large amount.
Apart from the fixed minimum prize of £10, surely the others have always been calculated in terms of the total amount of money from ticket sales. Also depending of course on the number of winners at each level.
Since the odds will stay the same - the lower prizes should also increase by a comparable amount.
But who cares about that? I play it for the big win, and justify the "idiot tax" because it's something that happens with little input from myself, is cheap, and a percentage goes towards charity and good causes.
It shouldn't be turned into a gambler's game.
http://www.guardian.co.uk/uk/2013/jan/16/national-lottery-autumn-doubles-fee
Doesn't justify the rise IMO.
Has it ever been worth it? Gambling is a mugs game.
And presumably, the "match 3" prize will now be £20, so it's just increasing stakes and prizes by a factor of two.
the odds stay the same. the stake goes up. it's not about inflation eroding the value of the prizes so much as the value of the money raised for good causes.
imagine if the lottery had been launched in the 70's, tickets would have been 10p, the jackpot would be £100,000. it has to change.
So that's slightly better then (10-1 payout to 12.5-1) still a lot less than the actual odds of getting 3 numbers though...