The mouth-watering wins in competitions have encouraged me to suggest an approach to offering larger prizes for nonjackpot wins. I’m questioning the current marketing consensus of one huge win and only modest rewards down the scale.
The popular belief is that if the top prize is large, it acts as an incentive to potential participants to buy a ticket. But what if Lotto were to try a scheme in which many entrants receive payouts, even if they don’t hit the jackpot?
The idea came to me when I noticed a similar range of rewards in professional golf and tennis. The winner, deservedly, gets a few million dollars or so, but others are well rewarded right down the scale. It has been very successful and I see a parallel with Lotto.