Officials from the Massachusetts Lottery announced Tuesday that they are launching a new record-breaking game: a $50 scratch ticket.
The game is called “Billion Dollar Extravaganza” and will award more than $1 billion in total winnings. It will also feature three $25 million top prizes, which are the largest ever offered by the Massachusetts Lottery on an instant ticket.
The game will feature five prizes worth $2 million and 15 prizes of $1 million starting February 7.
“This will be your best chance to win $500 or $1,000 in the history Massachusetts Lottery,” Lottery Interim Director Mark William Bracken stated at a Tuesday meeting by the Lottery Commission.
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Officials state that the 82% prize payout on the $50 ticket is the highest of any state lottery game. The $100 minimum prize will ensure that no winner will go below breaking even with a single ticket.
Players can now purchase the lottery’s most expensive instant ticket for $30
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Bracken stated that officials are “very, very excited” to join the 14 or 15 other states with a $50 price point in the market.
“It is something that our players, our agents, and almost every other focus group tell us repeatedly, ‘Why hasn’t you launched the $50 ticket? He said that he didn’t think it was the right moment.
Powerball states that it has 1 in 24.9 odds of winning any prize, and 1 in 292.2 millions of chances to win a jackpot. Mega Millions claims that there is a 1 to 24 chance of winning any prize and a 1 out 302.5 million chance for winning a Jackpot.
Mass. Edward Farley, Chief Marketing Officer at Lottery, stated that the agency had “literally turned this tickets upside down”, working on it before its launch.
“As the 50th anniversary of the Lottery approaches, it is a perfect time to introduce the $50 ticket for our next 50 years!” Deborah Goldberg, Treasurer, released a statement. “Our customers have been asking for this ticket for a while. After careful consideration, we believe the Lottery will offer them the excitement and thrill they are looking for.
According to the commission, the Lottery is expected to sell more than $1.5 Billion in “Billion Dollar Extravaganza” lottery games. This would generate more that $150 M in net profit which gets returned as unrestricted local assistance to all 351 cities.
December saw another milestone for Lottery. It exceeded $50 million in claims through the Massachusetts Lottery Mobile App, which was launched in September 2021.