Brazil approves adjustment of lottery prices

November brings price increases

In a recent announcement published in the Official Gazette on October 31st, the SECAP.ME in Brazil has authorized an increase in the prices of lottery products. This means that starting this month, Caixa Econômica Federal, the national bank that manages lotteries in the country, is allowed to adjust betting prices.

The new values for simple bets on numerical prediction lotteries are as follows: Double Sena, Lotofácil, and Lotomania will cost €0.55, Mega-Sena will cost €1, and the popular Quina will cost €0.45. As for sports forecasting lotteries such as Loteca and Lotogol, the new price will be €0.35. Additionally, the specific forecast mode called Timemania will now cost €0.70.

Moreover, Caixa will establish the maximum and minimum amounts of split bet odds, also known as the lottery jackpot. These adjustments are set to take effect from January 1, 2020.

Positive outlook

From November 11th, the prices of lotteries throughout Brazil will be readjusted. This exciting announcement coincides with the start of sales for Mega da Virada, a special lottery event.

Addressing the public, Caixa Econômica Federal president Pedro Guimarães shared some encouraging news, "We have very important news. When we met with the president in June, we had six proposals. We have already completed five of them. And today we have just accomplished the sixth, which is adjusting prices. This is very important because it not only allows us to recover last year's losses but also creates peace of mind about the future. Actually, we achieve predictability of income. In addition, for September, we exceeded revenue expectations, which indicates a growth of more than 20%."

Guimarães also mentioned that there will be a meeting between lottery representatives in Brazil and Caixa managers to discuss solutions and address any issues within the lottery network. "In about a month, we will have the first event with more than 500 people. It will bring together 250 lotteries and 250 managers of Caixa Econômica Federal to talk with you, listen to you, discuss solutions and problems," he concluded.

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