Lotto lovers are more likely to become billionaires by winning record jackpots next year, as the new operator, Taiwan Lottery Co (
Taiwan Lottery, a wholly owned subsidiary of Chinatrust Financial Holding Co (
The top prize can be rolled over a maximum of 12 times if no one wins, up from the current 8 times, which will lead to potential prizes greater than the current record of NT$1.2 billion, Cole Chen (陳增國), vice president of online lottery development at Taiwan Lottery, told a press conference yesterday, without giving exact figures.
PHOTO: CHEN TSE-MING, TAIPEI TIMES
Retaining six existing products, the company also plans to launch a new game, which will pick winners everyday, to attract female players who usually bet smaller amounts.
The new lotto will feature 39 numbers, and guarantees NT$8 million (US$246,000) for each first prize winner if they select the five winning numbers, the company's president Chang Ruu-tian (張汝恬) said.
The odds of winning the top prize are 1 in 570,000, much higher than 6/38 lotto's 1 in 2.76 million and 6/49 lotto's 1 in 13.98 million, Chang said.
The new operator offers lotto buyers a novel presale service that allows them to bet on each combination of numbers a maximum of 20 times at once, she said.
The company will also lengthen its sales period to 10pm from the current 8pm deadline. People can buy lottery tickets for the next draw after 8pm everyday when the sale for the current draw closes.
Taiwan Lottery will also roll a new instant lottery, called "Scratch it," that will cost NT$1,000 per ticket but offers a whopping NT$10 million top prize, the company said.
Consumers can buy lottery tickets at 5,000 online lottery vendors, 5,000 roadside vendors, and 212 outlets at 26 different financial institutions, including 111 Chinatrust Commercial Bank (
Chinatrust Commercial last December outbid three rivals by offering to pay the Ministry of Finance NT$2.09 billion each year, 10 times the floor price, to win the exclusive rights to run the public welfare lottery.
Taiwan Lottery said it hoped to see sales of NT$80 billion next year, which may not be an easy job considering declining sales of NT$60 billion to date this year, compared to last year's NT$74 billion.
Chang declined to comment on the net margins for the business and when it would break even.
Chinatrust said last year that the operator could garner 4.35 percent in annual sales. Profits will be determined by what remain after deducting a NT$2 billion payment to the finance ministry and operating costs, the bank said.
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