Inflating Luck

July 22, 2008 (LBO) – The Sri Lankan government is going to double the prices of lottery tickets from September onwards.

The national lotteries board and the development lotteries board have an effective duopoly on selling lotteries in Sri Lanka.

Updated National Lotteries Board chairman A De vass Gunewardena says that the last price revision was done in 1988.

The new price of 20 rupees will be for weekly and instant lotteries.

The national and development lotteries will also increase prize money.

Last year, the national lotteries board had earned 6.5 billion rupees in revenues and paid almost half as prizes, Gunewardena says.

The board also paid around three billon rupees to the government consolidated fund.