Tickets on sale Monday; drawing is June 22
Lansing, Mich. — Michigan Lottery officials are banking they've come up with a winning formula for the next raffle game: A top prize of $1,000 a week — for the rest of the player's life.
Win for Life raffle tickets go on sale Monday for $20 each, and once 300,000 are sold, that's it.
Lottery Commissioner M. Scott Bowen said the state's 12th raffle "not only offers players a whole new way to win, it gives them a way to stretch out a win."
The prize that keeps on giving should go over well with players, said Sam Kassab, owner of the Chene Trombley Market in Detroit, one of the top Lottery retailers in the state.
"Anything new and our sales go up," he said.
Kassab said that while the top prize doesn't offer the same excitement as a $200 million jackpot offered in some multistate games, "a thousand a week is a thousand a week and believe me it will sell."
In addition to the top prize, there will be 25 winning tickets worth $50,000 apiece, and 10,000 ticket holders will collect $100 each. More than $3 million will be divided among the winners.
If a 20-year-old player won the top prize and lived to be 90, he or she would receive a total of about $3.6 million over their lifetime.
And if a 65-year-old player were to win and die the following year, the person's estate would continue to get the $1,000 weekly prize for 19 years. However if the winner had collected prize money for at least 20 years, the payouts would cease upon the player's death.
Win for Life is the first raffle from the lottery with a lifetime prize, although the approach has been used in a handful of $5 instant games. In those games, sales were at least 10 percent higher than traditional instant games, Lottery spokesperson Andi Brancato said.
Winning raffle numbers will be drawn June 22, or later if tickets don't sell out by then.
Lottery sales are up 1.4 percent over last year. However, revenues that go into the state School Aid Fund are down 5.4 percent compared to last year, because of prize payouts. Last year the lottery pumped $740.7 million into the school fund.
I'm sure they will eat u up in taxes, being that is added income.
52,000. plus whatever your gross income. It's cool if u don't make that much
money for a year. I won't buy as many of the $20. as i did the $10.
didn't even have a $70. winner. I guess i'm being a sore loser
I bought three and won $210
Wow, thats great! i'm jealous(LOL)
seriously thats great WTG
Most of all lose. I bought 7 tickets, 10 dollars each. I lost. A Friend of mine had 47 tickets. He got 70 dollars back from one ticket.
Sorry to rub that in your face.
By the way, the new raffle is no where to be seen on the Michigan lottery website... I wonder where the source for this info is?
I can't be bought into spending 20 dollars for a mere chance of winning, but this one looks fun. I plan on buying a ticket.
You and your friend seem to be playing a different game than the one described here.
Actually there is. One the right hand side in the news section there is a title of Newest Raffle. That is the only place though.
Brad
Sheesh. I need glasses.
He's replying to Me or the other guy's post. The LP's forum design is the weirdest and most confusing one on the internet.
Looks Ok, maybe they will add a 50/50 option to a future raffle where you can spend 5 or 10 extra bux and split the pot 50/50 with the state. I beleive at least 3 people would buy the 50/50 option
I like this a lot better than PA's current raffle. Although the $750,000 cash would be great, but this raffle has better overall prizes and more of them. I will be recommending this to PA. 25 prizes of $50,000 is even great. But I would love $1,000 a week for life as that would take a lot of pressure off worrying about investing and when the next check is coming. $36,000 a year is still pretty good, especially on top of another part-time income.