When the average consumer thinks about lottery, they imagine life-changing prizes such as last year’s $1.6 billion Powerball jackpot. When we buy one of these tickets, even at the “smaller” $40 million jackpot level, we are buying into a dream for a better tomorrow without financial worries. We all dream of hitting the big one. Well, maybe not all of us.
Weekend-changing prizes have a long history in North American lottery sales as well. In many states, Pick 3 and Pick 4 type games with top prizes ranging from $500 to $5,000 keep pace with or outsell their jackpot driven brethren. Scratch off tickets, which make up the bulk of the lottery portfolios today, more often feature prizes that deliver players a dream weekend or dream month instead of a dream house.
According to our research of 1,853 lottery and non-lottery players conducted in partnership with industry leader Ipsos, those lower payouts are also what Millennials find compelling. They believe in their ability to make it on their own and therefore are more likely to look for win frequency and opportunities to create experiences outside of the core game over life-changing jackpots.
Then expressed as a prize range between $300 and $1,000, the EquiLottery top prize was one that interested Millennials with a favorable/unfavorable of 62% – 18%. With odds of winning as low as 336-1, Millennials were drawn to the idea of winning more often. To quote one of our younger focus group participants, “If you could spend $2 and have a chance to win a minimum of $300, what’s wrong with that?” We couldn’t agree more.
But it’s not just the top prize that makes EquiLottery appealing to Millennials. At a rate of 58% – 20%, this generation finds our secondary cash prize between $5 and $40 for matching all three numbers in the wrong order a compelling piece of this game. For that matter, the use of three numbers as the basis of our game is a winner. When presented with the statement “three horses is the right number to use for this game”, Millennials agreed 64% – 14%.
Cash prizes are obviously very exciting to anyone. However, this generation loves getting to stay in the game beyond the initial race watching experience. They scored 57% – 19% when given the statement “the second chance draw prizes are appealing” which included a Triple Crown Dream Trip, a VIP racetrack experience, horse ownership and gift cards at local retailers. And at a 51% – 21% clip, Millennials were drawn to our Every Ticket Is a Winner program which converts all tickets into winning experiences by awarding all players a giveaway at participating racetracks through our mobile app. The giveaways they considered were racetrack general admission, a food or beverage item, a betting voucher and a racetrack program.
When you combine these prize appeals with a 63% – 20% score on “results determined by the result of a live horse race are more exciting than other draw games”, you start to gain a real picture of what this experiential crowd likes so much about our game. It’s the entire experience of winning and not just the bottom line payouts that matters most to Millennials. And this is ultimately reflected in an 82% – 8% net prizes score for a generation that normally looks beyond lottery for their entertainment.
These numbers show Millennials love our prizes because they love our game experience. EquiLottery is still a lottery game and so there needs to be the potential for return on the money invested in our tickets. But just like everything else Millennial, it’s not just about the money. It’s the experience that counts. And EquiLottery is all about the experience from its unique ticket layout to its authentic live event mobile app reveal to a day at the track with friends.ICYMI: Why Millennials Love EquiLottery: It’s Relevant, Authentic and Unpredictable ICYMI: Why Millennials Love EquiLottery: It’s Social and Experiential