|Posted: April 9, 2007, 3:15 pm - IP Logged|
RAFFLE WITH FOUR TOP PRIZES OF $1 MILLION DOLLARS APPROVED
RALEIGH- The North Carolina Education Lottery Commission (NCEL) today
gave approval to the NCEL to introduce a raffle game in North Carolina.
The proposed game will have four top prizes of $1 million as well as
many other prizes. The odds of winning $1 million will be 1 in 125,000.
"This will be our first raffle, but if successful, it will not be the
last," said Tom Shaheen, NCEL executive director. "We are constantly
looking for ways to maximize sales and raise as much money as possible
for education programs. Since players have been asking for this, and
surrounding states have offered raffles, we want North Carolina to share
in the fun."
The first NCEL raffle tickets, which will cost $20 each, are tentatively
scheduled to go on sale May 11. A drawing is tentatively scheduled to be
held July 4 to determine the winners of the more than 500 prizes. Along
with the $1 million top prizes there also will be two other prize
levels. The second prize level will be five (5) prizes of $100,000. The
third prize level will be 500 prizes of $1,000.
The NCEL will offer a finite number of 500,000 tickets. They will be on
sale until the draw date unless they sell out earlier. If the raffle
game sells out, the NCEL would generate approximately $3.5 million for
Players will not have to fill out a play slip or scratch off latex on
any ticket. They will be able to ask a retailer for a raffle ticket and
the retailer will prompt the terminal to print out the next available
six-digit number from the finite pool.
Here are the odds for NCEL's first raffle:
Prize Number of prizes Odds
$1,000,000 4 1:125,000
$100,000 5 1:100,000
$1,000 500 1:1,000
Money can't buy you happiness... but it does bring you a more pleasant form of misery