LOTTO PRICEs to go up

Prices for Lotto tickets will increase as from the end of next month by R1, to R3,50. A Lotto Plus ticket will cost R1,50.

Prices for Lotto tickets will increase as from the end of next month by R1, to R3,50. A Lotto Plus ticket will cost R1,50.

"The price increase, which will come into effect on March 26, entails that a Lotto entry will go up from R2,50 to R3,50 and the costs of a Lotto Plus entry will increase from R1 to R1,50," lottery operator Gidani spokesman Thembi Tulwane said.

Tulwane noted that this was the first time since the launch of the national lottery nine years ago that the price of the Lotto tickets would go up.

Tulwane said the price increases, to take the effects of inflation into account, would be accompanied by larger prizes and more money going to charities. Gidani had increased the percentage of contributions to good causes from 22percent by the previous operator, to 34percent, she said.

Tulwane said the increase was a precursor to "a number of exciting announcements" to be made in the coming weeks.

"Based on the annual average Consumer Price Index percentage changes from 2000 to last year, a lotto entry today should be retailing at R4,22," she said.

Tulwane said the value of the jackpots had also not kept up with inflation.

She said a R2million jackpot won in 2000 on a R2,50 lotto ticket would be worth R600000 today. - Sapa

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