I want to echo the comments about the gradual erosion of the quality prizes in the scratch-off games over the past several years. Statistically, the return on the scratch-off games has declined over the several years. This has happened in three general ways:
- Top prizes have been reduced in value from a $3M (or more) top prize and a $1M (or $500K) second place prize to a $3M top prize and a $100K second place prize. (compare the Billion Dollar Blockbuster, $3M Monopoly, Millionaire Club, Gold Rush Tripler, $200 L4L, etc to the new Super Millions, $600M Gold Rush and Flamingo Fortune). This is true for $20 games. The $10 games have been changed a little less drastically but the $20,000 prize level was eliminated in all $10 games after the $200M Spectacular.
- The top prizes in all $10, $20 and $25 games are now paid over 25 years instead of 20 years which results in a lower value when claiming the lump sum prize (which almost everyone does).
- The lower tier prizes of $500 and $1,000 have been made gradually more difficult to win. Also, the new $25 games no longer offer a $10,000 prize level. The overall changes do not have to be very drastic all at once. The Lottery operates on a large volume of ticket sales. If the return on a new game drops from 55% (old game) to 53% (new game), most players will not notice the difference. But that additional 2% margin is huge to the Lottery when they are looking at ticket sales in excess of $100M for multiple new $5 - $25 games.
I suspect these changes to increase profitability are due to the fact that the legislature needs more money each year from the Florida Lottery to fund Bright Future's Scholarship and higher education. Also, operating costs (distribution costs, dealer incentives ($2K bonuses for selling top prize tickets), wages increases) increase every year.
The Florida Lottery has to earn more money from a relatively static group of players. Unlike other businesses, the Florida Lottery cannot easily raise prices to make up the difference. They are not going to sell $21 scratch-off tickets or $1.15 scratch-off tickets.
Every time a new game comes out or a change is made to an existing game, the new product is typically inferior to the old product because the new product's sole purpose is to generate more revenue for the Florida Lottery than the old product.
I don't foresee any change in the near future. I am just going to have to hope to be in the right place at the right time...