Thought a $10 lottery ticket was a bit more than you could risk? Well, the Maryland Lottery regulators will soon be enticing players with a $30 scratch-off ticket. The decision to offer this new ticket comes after a record sales year, with the hops of increasing sales. The question is will consumers be willing to take the risk and spend $30 a pop on a chance to win big.
Georgia and Ohio began selling $30 lottery scratchers in 2014. Georgians responded to the new challenge fairly quickly, according to Georgia Lottery. California Lottery celebrated their 30th Anniversary, with the $30 instant ticket. Tennessee Lottery introduced their $25 scratcher in April 2013.
Maryland hopes to draw consumers to the $30 ticket, by offering them a chance to win $2 million prize. The ticket is expected to debut the first quarter of next year, after it was approved on a voice vote at its last monthly meeting. Lottery officials are hoping the $2 million prize, highest in the state for instant tickets, will encourage players to skip the $1 ticket for the high-end ticket.
The highest instant ticket sold in Maryland is $20, with sales increasing 21 percent from 2013 ($62.1 million) to 2015 ($75.2 million). The results left the $1 ticket flat, with a decline of $2 and $3 tickets.
The new ticket will be designed to make it more alluring to players. Exclamation points and dollar signs will be sprinkled into the vivid colorful design. It will also have names such as “Your Fortune,” Blingo Bingo” and “Platinum Play.” Instant tickets are alluring to players in themselves, because they offer instant payouts.
The lottery is a major source of revenue for the general fund, falling behind incomes, sales, and corporate taxes. In the last fiscal year, the state received a total of $507 million from the lottery.
This may just be the opportunity that Prince Georgians have been waiting for.