| Rule Number: |
12P059 |
| Title: |
Hot Lotto Rule Changes Effective 05/12/2013. |
|
Type:
|
Standard |
|
Status:
|
Adopted |
| Agency: |
Vermont Lottery Commission.
|
| Legal Authority: |
31 V.S.A. § 654a(a) |
| Summary:
| The effects of these rule changes are as follows: 1. The first ball matrix is chanted from five (5) out of thirty-nine (39) to five (5) out of forty-seven (47). This changes the jackpot odds to 1 in 29.1 million. The current game has jackpot odds of 1 in 10.9 million. The overall odds of winning a cash prize will change to 1 in 17.2 (currently 1 in 16.1). 2. The Grand Prize will begin at $1 million cash and increase by a minimum of $50,000 cash. A Grand Prize winner will receive no less than the Advertised Grand Prize amount. Withholding taxes are to be paid on behalf of the Grand Prize Winner. 3. The Match 5+0 prize level is increased from $10,000 to $30,000. The 4+1 prize level is increased from $500 to $3,000. The Match 4+0 prize level is increased from $50 to $100 and the Match 3+0 and 2+1 prize levels are increased from $4 to $6. All other prize levels remain the same. |
| Persons Affected:
| The affected parties include Lottery players, licensed retailer agents, Vermont Lottery Commission, and the State of Vermont Education Fund. |
| Economic Impact:
| The economic impact is that the Vermont Lottery Commission would contribute more money each year to the Vermont Education Fund. The changes proposed to the game are intended to increase player interest in the game with a cash jackpot that is "taxes paid". The amount of the advertised jackpot is the amount the player is paid, already reduced by taxes. Low tier prizes have been increased. These changes are designed to make the game more appealing and create an overall sales increase. The increased sales for Hot Lotto will therefore increase the contribution to the Education Fund. |
| Posting date: |
Dec 19,2012 |
