How Much Can Government Lotteries Make on $1,000,000 Raffle?

A cool million dollars is up for grabs in the Belize Government Lotteries raffle! Tickets are already on sale, and the big draw is set for December twenty-first. They’re promoting it as a celebration of the lottery’s one-year anniversary. But remember, the house always has an edge! Despite that advantage, the Cabinet announced in a late afternoon briefing that the profits will be directed to the National Health Insurance (NHI) and other social programs and charities across Belize.

 

Prime Minister John Briceño

“In this case what we have done is that Boledo is a game of statistics, chance. So, looking at the statistics the people at the Boledo/ lottery believe we can create enough hype to sell more than a million dollars and make money out of it. Imagine paying five dollars and you could potentially win a million, or half a million, or a hundred thousand, depending on how much people win that. For five dollars, people are going for it. I must confess in the U.S. I buy the mega bingo or Power Ball. I pay my two dollars, and you know what, I never check back if I win. But Belizeans know about it. I sure you done buy your number.”