Presented Evidence the Mass. Lottery Produces Inequality, Treasurer Grossman Urged to Drop $30 Scratch Ticket
With casinos closing in, Lottery rolls out $30 ticket
Wednesday, March 26, 2014
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The Massachusetts State Lottery is betting on a $30 instant ticket with a
$15 million top payout to keep its customers scratching in the face of upcoming competition from casinos.
“World Class Millions” launches April 22 as the highest-priced scratch game in the agency’s history with the highest prize.
“It’s a strategic business decision that’s not only going to increase lottery revenue and net profits, but it’s also going to position our instant ticket portfolio in a rapidly changing gaming environment in the state,” Executive Director Beth Bresnahan said. “For 42 years, the lottery was one of the only games in town. Now we need to adapt to provide our players an exciting game of chance.”
The lottery has printed 25 million of the $30 tickets. A total of $600 million in cash prizes is in the offing, including four $15 million prizes and 36 $1 million prizes. There also will be five $1 million prizes in a second-chance drawing.
Some lottery players yesterday were willing to take a chance on a $30 instant ticket.
“Every so often I’ll buy a $20 ticket and I’ll probably buy a $30,” said Laurie Dowdy of South Boston, who was in Schubert’s yesterday. “Not all the time, but every now and then.”
But Lee Pumphret of South Boston said he wouldn’t shell out that much for a scratch ticket.
“I’d rather have $30 in my pocket,” Pumphret said.
The $30 game has the potential to generate $756 million during each of its 11⁄2- to two-year shelf-lives, with profit of $86.8 million.
“We’re looking at incremental sales of $125 (million) to $150 million in the first year on top of what we’re already generating,” Bresnahan said, citing a “conservative” estimate.
Connecticut was the first state to sell a $30 ticket in 2002. Fourteen states now have $30 tickets, and Texas has $50 games.
“We’re really well-positioned in the market right now to introduce a new price point, diversify the instant ticket portfolio and offer larger, more exciting prizes to our players,” Bresnahan said.
Kathryn Breen contributed to this report.
http://bostonherald.com/news_opinion/local_coverage/2014/03/with_casinos_closing_in_lottery_rolls_out_30_ticket
“World Class Millions” launches April 22 as the highest-priced scratch game in the agency’s history with the highest prize.
“It’s a strategic business decision that’s not only going to increase lottery revenue and net profits, but it’s also going to position our instant ticket portfolio in a rapidly changing gaming environment in the state,” Executive Director Beth Bresnahan said. “For 42 years, the lottery was one of the only games in town. Now we need to adapt to provide our players an exciting game of chance.”
The lottery has printed 25 million of the $30 tickets. A total of $600 million in cash prizes is in the offing, including four $15 million prizes and 36 $1 million prizes. There also will be five $1 million prizes in a second-chance drawing.
Some lottery players yesterday were willing to take a chance on a $30 instant ticket.
“Every so often I’ll buy a $20 ticket and I’ll probably buy a $30,” said Laurie Dowdy of South Boston, who was in Schubert’s yesterday. “Not all the time, but every now and then.”
But Lee Pumphret of South Boston said he wouldn’t shell out that much for a scratch ticket.
“I’d rather have $30 in my pocket,” Pumphret said.
The $30 game has the potential to generate $756 million during each of its 11⁄2- to two-year shelf-lives, with profit of $86.8 million.
“We’re looking at incremental sales of $125 (million) to $150 million in the first year on top of what we’re already generating,” Bresnahan said, citing a “conservative” estimate.
Connecticut was the first state to sell a $30 ticket in 2002. Fourteen states now have $30 tickets, and Texas has $50 games.
“We’re really well-positioned in the market right now to introduce a new price point, diversify the instant ticket portfolio and offer larger, more exciting prizes to our players,” Bresnahan said.
Kathryn Breen contributed to this report.
http://bostonherald.com/news_opinion/local_coverage/2014/03/with_casinos_closing_in_lottery_rolls_out_30_ticket
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