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Another news day in the lottery world takes place, and another state lottery office is raising the top price of tickets for one of its games — this time, it is CASH POP from the New Jersey Lottery.
New wager amount for CASH POP
In New Jersey, lottery officials announced the CASH POP game will begin offering a new $20 wager starting Monday, November 4, 2024. With the recent announcement that the price of Mega Millions tickets would be going up in 2025, why do lottery officials continue to offer higher-priced tickets?
For this game, officials said the change is part of the lottery's efforts to continuously improve games to enhance the entertainment value for players.
New Jersey Lottery Executive Director James Carey said in a press release:
This game has been a favorite with lottery players since its inception in 2019. Adding the $20 wager gives our players a chance for bigger prizes, which they have been requesting for some time now Cash Pop has been easy to play and offers great odds of winning. Now there's just more to go around!
What does this mean for CASH POP players?
For CASH POP players in New Jersey, the change doesn't affect the gameplay too much. You can still wager the lower amounts ($1, $2, $5, or $10) to play the game. This new change is just allowing players to bet up to $20 per play for a chance at winning even more money per draw.
Why do states keep raising ticket prices?
Many players keep asking why lottery officials keep raising the bar for ticket prices, especially when inflation concerns have many people being very tight with their spending. There are a few reasons that could be a part of the decision process for offering higher-priced tickets:
- Bigger jackpots for players: As with CASH POP above, the higher ticket prices allow these lotteries to offer bigger jackpots to their players. The idea of a bigger jackpot can draw in more players, which means more revenue for the state. The chance of winning bigger prizes often outweighs the increased ticket price for many players.
- Offset operational costs: Many industries are facing rising operational costs because of inflation, and the lottery industry is no different. By raising the ticket prices, they are helping to cover some of these increased expenses.
- Players want more “high-stake” games: As New Jersey officials mentioned above, the players are requesting this. They want higher stake games and bigger payouts. To do this, they have to charge you more for the tickets.
- Competition: The lottery isn't like it was when it first started. Now, players can go on their phones and play online casino games or bet on sporting events. These lotteries are now competing for the attention of players. They want to offer bigger prizes to stay competitive, which means higher ticket prices at the same time.
What is CASH POP?
For those unfamiliar with the game, CASH POP is a game where players can pick at least one or as many as 15 numbers between 1 and 15. Now players in New Jersey can wager from $1 up to $20 per number. Each number played will cost the amount of the wager selected.
Prizes for CASH POP vary per number and range from 5X up to 250X the wagered amount. The player's ticket will show them the number they selected and the corresponding randomly assigned prize amount for each number played.
The top prize can be as much as $5,000 now, double the previous top prize of $2,500. Drawings for CASH POP take place every four minutes.
Enjoy playing the New Jersey Lottery, and please remember to play responsibly.
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