Welcome Guest
Log In | Register )
You last visited December 2, 2016, 7:21 pm
All times shown are
Eastern Time (GMT-5:00)

New Ireland Lottery operator expected to raise prices

Ireland National LotteryIreland National Lottery: New Ireland Lottery operator expected to raise prices
51
Rating:

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

We'd love to see your comments here!  Register for a FREE membership — it takes just a few moments — and you'll be able to post comments here and on any of our forums. If you're already a member, you can Log In to post a comment.

9 comments. Last comment 2 years ago by HaveABall.
Page 1 of 1
RedStang's avatar - tallman zps6gf4inoc.jpg
NY
United States
Member #121961
January 21, 2012
3157 Posts
Offline
Posted: December 16, 2014, 11:06 am - IP Logged

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

    Bondi Junction
    Australia
    Member #57242
    December 24, 2007
    1102 Posts
    Offline
    Posted: December 16, 2014, 5:00 pm - IP Logged

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

    We all get a lot out of lotteries!

      mypiemaster's avatar - 2015021003pileofcash
      JACKPOT HUNTER

      United States
      Member #141034
      April 2, 2013
      1406 Posts
      Offline
      Posted: December 16, 2014, 6:00 pm - IP Logged

      What else is new?.

      Seek and ye shall find -Matt. 7:7 ...Ask and ye shall receive -John 16:24 ...Give and it shall be given unto you -Luke 6:38 ...Be careful what you ask for!!! -Mypiemaster 1:1

      Having Money Solves Problems That Not Having Money Creates Yes Nod ****John Carlton****

        HaveABall's avatar - rocket

        United States
        Member #72448
        March 18, 2009
        1226 Posts
        Offline
        Posted: December 17, 2014, 12:56 am - IP Logged

        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

        Having several millions of dollars in my financial accounts means receiving several valuable services each day!

        Disney

          mikeintexas's avatar - tx avatar-1.gif
          Texas Panhandle
          United States
          Member #136843
          December 20, 2012
          1257 Posts
          Online
          Posted: December 17, 2014, 1:12 am - IP Logged

          £5 = $7.86 at the current exchange rate.

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

            mypiemaster's avatar - 2015021003pileofcash
            JACKPOT HUNTER

            United States
            Member #141034
            April 2, 2013
            1406 Posts
            Offline
            Posted: December 17, 2014, 8:26 am - IP Logged

            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.

            Seek and ye shall find -Matt. 7:7 ...Ask and ye shall receive -John 16:24 ...Give and it shall be given unto you -Luke 6:38 ...Be careful what you ask for!!! -Mypiemaster 1:1

            Having Money Solves Problems That Not Having Money Creates Yes Nod ****John Carlton****

              mypiemaster's avatar - 2015021003pileofcash
              JACKPOT HUNTER

              United States
              Member #141034
              April 2, 2013
              1406 Posts
              Offline
              Posted: December 17, 2014, 8:45 am - IP Logged

              £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

              Seek and ye shall find -Matt. 7:7 ...Ask and ye shall receive -John 16:24 ...Give and it shall be given unto you -Luke 6:38 ...Be careful what you ask for!!! -Mypiemaster 1:1

              Having Money Solves Problems That Not Having Money Creates Yes Nod ****John Carlton****

                mikeintexas's avatar - tx avatar-1.gif
                Texas Panhandle
                United States
                Member #136843
                December 20, 2012
                1257 Posts
                Online
                Posted: December 17, 2014, 9:49 am - IP Logged

                £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 avatar - rocket

                  United States
                  Member #72448
                  March 18, 2009
                  1226 Posts
                  Offline
                  Posted: December 17, 2014, 6:42 pm - IP Logged

                  €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

                  Having several millions of dollars in my financial accounts means receiving several valuable services each day!

                  Disney