- »The Lott Announces Set for Life Game Changes
The Lott Announces Set for Life Game Changes
The Lott announced changes to the Set for Life lottery game that will give more people the chance to win with every draw. There will be a new fixed annuity prize for winners in the second division. And it will all begin on March 23, 2020.
Current Set for Life Lottery Play
The goal of Set for Life is simple: to give players the chance to win enough money that they will be paid for the next 20 years. That may not be all of life for many winners, but it is quite a few years of an impressive income that — if invested properly – can easily set a player up for life.
Players simply choose eight numbers from 1-37 for a lottery draw. And there are two ways to choose those numbers.
- QuickSET ticket: randomly computer-generated numbers for a set number of games
- Marked entry: player-chosen numbers for at least two sets (up to four sets for in-store play or up to 50 sets for online play
There are also choices for when to play the numbers.
- Single week: play the numbers for one week of draws, every night of the week
- Advance draw: choose numbers for drawings up to 10 weeks in advance
- Multi-week entry: play the same numbers for two weeks – up to ten weeks – at a time
Drawings take place every night of the week, and results can be found online or in stores by 9:45pm AEST each night.
Winning Set for Life
Match all eight numbers in one set, and that’s the ticket!
The winner receives $20,000 per month – every single month – for 20 years. For those math nerds, that comes out to 240 payments.
Each Set for Life drawing can declare up to four winners. But fewer correct numbers in a draw also award generous cash prizes. And it is easier to win those prizes based on these odds:
- All 8 numbers = 36,608,020-to-1
- 7 numbers plus 1 bonus number = 2,413,001-to-1
- 7 numbers = 178,741-to-1
- 6 numbers plus 1 or 2 bonus numbers = 25,070-to-1
- 6 numbers = 3,928-to-1
- 5 numbers plus 1 or 2 bonus numbers = 946-to-1
- 5 numbers = 236-to-1
- 4 numbers plus 1 or 2 bonus numbers = 89-to-1
In the nearly five years since Set for Life launched, there have been 55 first-place winners. Their payments collectively total $264 million.
In 2019 alone, there were 11 first-place winners, and The Lott is set to pay them $52.8 million over the next 20 years.
More Winners to Come
Beginning Monday, March 23, 2020, all players winning Division 2 will win a fixed monthly prize as well. Those players who correctly choose seven of the eight numbers plus one of the bonus numbers will win $5,000 per month for one year.
The Lott conducted research with its customers, and unsurprisingly, they wanted more chances to win.
Matt Hart, spokesperson for The Lott, noted, “Players told us they loved how Set for Life’s division one prize was paid in installments over time and wanted to see this concept of a fixed-annuity prize expanded.” The awarding of monthly sums to second-division winners will equate to “12 months of enjoying that winning feeling.”
Hart explained that the chances of winning any prize will increase from 1-in-59 players to 1-in-50. Even the chances of winning the very top prize will improve.
Players will have 44 numbers from which to choose going forward, as of March 23. This changes the following odds:
- Top prize chances increase from 38,608,020-to-1 to 38,320,568-to-1
- Chances of winning any prize increase from 59-to-1 to 50-to-1
The second change is because players can soon win for as few as three numbers plus one bonus number instead of the previous four plus one bonus requirement.
There will be an additional five cents added to the price of each ticket.
Hart explained that players will not be able to purchase advanced tickets for draws on or after mid-March until closer to the time. Regulators must approve the proposed changes, and The Lott will require some time to change the system to offer the new sets of numbers and ticket information.