New Ireland Lottery operator expected to raise prices

Dec 16, 2014, 9:00 am (9 comments)

Ireland National Lottery

Ireland's National Lottery is expected to raise ticket prices next year as part of a shake-up of the business aimed at halting several years of declining sales.

The new operator, Premier Lotteries Ireland (PLI), is under pressure to recoup its €405 million outlay for the licence and is known to have set ambitious growth targets for its 20-year tenure in charge.

While higher ticket prices would, in theory, generate bigger jackpots and potentially more publicity around its weekly draws, the move could alienate recession-weary Irish lottery players, who are still feeling the after-affects of the financial crisis.

As part of a review, the operator will examine the optimum pricing structures for its weekly prize draws, its growing suite of online games and its scratchcard products.

According to a source, the Government agreed to various product changes, including potential price hikes, in its pre-sale negotiations with PLI.

This means a price increase would not need the approval of National Lottery regulator Liam Sloyan, who took up the position last month. Currently it costs a minimum of €3 to buy two lines for the main draws, with 91 percent of customers opting to include their numbers in the lotto plus draw for an additional €1.

A PLI spokeswoman said, "We continually review our game portfolio. This includes looking at new games as well as game developments and pricing."

The PLI consortium, which involves An Post and the Ontario Teachers' Pension Plan — owners of UK operator Camelot — formally took charge of the business earlier this month.

The operator is being advised in its strategy and pricing policy by Camelot Global, the British company's international arm.

In October, Camelot in the UK doubled its standard ticket price from £1 to £2, the first such price increase since the game was launched in 1995, drawing criticism from consumer groups. The company's new chief executive, Andy Duncan, said the price increases would give players more opportunities to win more money.

The Irish operating consortium is banking on growing the franchise, in part through a revamped online portal, to claw back its investment.

It is expected to launch of a series new online games next year, exploiting the easing of restrictions on its digital arm.

Thanks to myturn for the tip.

Irish Times

Comments

RedStang's avatarRedStang

This game will fall like Monopoly. It can't compete against Euro-millions.

myturn's avatarmyturn

Players can subscribe to the Irish Lottery online, but you do need to an Irish address and bank account to register.

mypiemaster's avatarmypiemaster

What else is new?.

HaveABall's avatarHaveABall

Does anyone from Ireland, or here, know what this proposed €5 would convert to in this week's U.S. dollars value?  [I'm not sure what the name of this symbol is called.]  Thanks, in advance, for educating us!

Thinking of... Type

mikeintexas's avatarmikeintexas

£5 = $7.86 at the current exchange rate.

Just go to Google, type in "currency converter".

mypiemaster's avatarmypiemaster

Quote: Originally posted by HaveABall on Dec 17, 2014

Does anyone from Ireland, or here, know what this proposed €5 would convert to in this week's U.S. dollars value?  [I'm not sure what the name of this symbol is called.]  Thanks, in advance, for educating us!

Thinking of... Type

€5.00
EUR - Euro Member Countries Eur

$6.22
USD - United States Dollar
That symbol is the EURO. As of this morning, 1 EUR =1.2445  USD, and $1 =0.8030 EUR. Hope that helps.
mypiemaster's avatarmypiemaster

Quote: Originally posted by mikeintexas on Dec 17, 2014

£5 = $7.86 at the current exchange rate.

Just go to Google, type in "currency converter".

£5.00
GBP - British Pound

$7.85
USD - United States Dollar
mikeintexas's avatarmikeintexas

Quote: Originally posted by mypiemaster on Dec 17, 2014

£5.00
GBP - British Pound

$7.85
USD - United States Dollar

Sorry, I just glanced at it, didn't pay close enough attention to the symbol, figured the Irish were still using the pound.  I believe N. Ireland still does.

My figure was correct...for yesterday.

"The dollar's up, down, you'd better buy the pound!"

Moneytalks - AC/DC

HaveABall's avatarHaveABall

Quote: Originally posted by mypiemaster on Dec 17, 2014

€5.00
EUR - Euro Member Countries Eur

$6.22
USD - United States Dollar
That symbol is the EURO. As of this morning, 1 EUR =1.2445  USD, and $1 =0.8030 EUR. Hope that helps.

Thanks, mypiemaster, you were the only one who answered by first looking at the symbol I had typed.  Kudos!

I don't think that this lottery game should increase in price.  Unless, it is only a once a week drawing! Certainly, if I had to begin paying over $6 U.S./drawing to buy an equivalent jackpot earning Powerball or Megaball ticket (w/'multiplier insurance fee' added), I wouldn't be able to participate in EVERY drawing for both games if each game had a drawing more than once a week.

Anyhow, I'm curious, how would this proposed apx. $6.22/play for each game's drawing work out for other member's gambling budgets?

Hippy Turkey

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