Do we believe this? by raistlin

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raistlin
http://www.independent.co.uk/news/uk/home-news/price-of-a-national-lottery-ticket-set-to-double-8454569.html

The first thing that springs to mind is that a lottery is not subject to the vagaries of inflation, the prizes being in direct proportion to the amount staked.

Curious that a 100% increase in ticket price doesn't generate anywhere near a 100% increase in prize money.

I don't see a mention of increased profits for Camelot either. OR an increase in the money available for charitable causes.

Me? Just cynical I guess :lol:
Paul

Cogito ergo sum... maybe?

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Posted 16 Jan 2013, 19:27 #1 

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MrDoodles
As sales have fallen since the Lottery was launched with the ticket price remaining the same (effectively reducing when taking inflation into affect) doubling it's price in the middle of one of the longest and deepest recessions ever, some may find that foolish!

They might want to look up the law of diminishing returns!
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Posted 16 Jan 2013, 19:45 #2 

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raistlin
I see your points and agree except that I still don't see why inflation needs to be taken into account as the prizes and ticket prices are linked so the ratio of the price of a ticket and the value of a given prize remains constant irrespective of inflation so the increase in ticket price is purely down to increasing their income.
Paul

Cogito ergo sum... maybe?

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Posted 16 Jan 2013, 20:49 #3 

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Bermudan 75
They can do what they want with the ticket prices.....I still won't win.
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Posted 17 Jan 2013, 07:27 #4 

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Duncan
They are taking lessons from the people who run the M6 toll. Not enough people are using it, so they put the price up to encourage more people to use it. Oh, didn't think that one through! They even discourage regular users. Crappy 5% discount for using a tag, offset by a monthly charge for having one. Then if you dare to have more than one car, you can't use the same tag, you have to have one for each, with the associated monthly rental. No wonder the A38 / A446 is so busy! (it's the M6 toll bypass).
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Posted 17 Jan 2013, 22:35 #5 


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