For the first time in almost twenty years Australia has launched a new lottery game called Set For Life.
Instead of a onetime bulk win, winners of the game will receive $20, 000 a month for twenty straight years! Two decades of monthly stipends will hopefully draw in younger crowds of lottery participants. The aim was to draw in new generations and it seems like it may be just the thing to do so.
Tickets will be on sale next Monday and the draw will take place the following Friday – July 31. So what does the draw look like? Well, for $8.40 you will get one ticket. That one ticket will give you two sets of numbers (eight numbers each). There are a total of 37 numbers. Your numbers will be entered into a draw for seven straight days. Ten numbers will be drawn on Friday (eight and two bonus numbers). First prize winners will have numbers matching all eight shown. Second place will be seven numbers (plus one bonus) and so on and so forth. The odds of winning first prize is one in 36, 608, 020 which may be a bit of a deterrent. However, your odds of winning ANY prize are much better…one in fifty-nine
Paul Andrew is the Lotterywest chief executive. He commented on the new Set For Life game and said:
“It’s different to traditional lottery games as it offers a draw each night of the week and has a unique game mechanic with the first prize paid in monthly installments to winners. (…) Market research has shown that Australians are seeking a win that will enhance their lives and give them the financial security to enjoy those experiences they could have if they had more time and more money. (…) This new game offers players the chance to set themselves up for life. (…) Imagine the possibilities; the things you could do and the places you could go if you won a guaranteed $20,000 a month for 20 years.”
So how would that sort of allowance change your life? What would you buy? Where would you go? What would you do? Lotterywest sent Claire Trolio, a Lifestyle blogger, to Winebar in Northbridge to experience life as a Set For Life winner. She said the money would give her peace of mind and allow her to give back. She reported:
“If I won, I’d love to open a soup kitchen and drop in center to help the Perth homeless population, with access to doctors and other facilities. (…) Aside from that, I’d end up doing what I do now but with less financial stresses and more freedom.”
The chances may not be better than playing the regular lottery, but there is something appealing about being given money every month for two decades that attracts me and I’m sure will attract the rest of my generation too.