Israel Lottery Subscription Fees Rise, Prizes Shift
Translated & summarized from Ice by baba
The Israel Lottery is raising its monthly subscription fee from 60 to 70 shekels starting March 4th, adding 120 shekels annually per household. The lottery's bonus vacation prize is reduced in number and value, with the destination no longer guaranteed. The organization claims the increased revenue will boost cash prizes, including the first prize rising to 1.8 million shekels, and that the changes were approved by the Ministry of Finance.
The story in 5 lines · by baba
- Israel Lottery subscription fees are increasing by 10 shekels monthly, to 70 shekels.
- The annual cost for subscribers will rise by 120 shekels per household.
- The number of luxury vacation prizes is decreasing from 75 to 50 winners.
- The guaranteed vacation destination has been removed and replaced with a generic prize.
- The first prize cash amount is increasing from 1.5 million to 1.8 million shekels.
The Mifal HaPayis (Israel Lottery) is increasing the monthly subscription fee for its customers from 60 shekels to 70 shekels, effective March 4th. This price hike will result in an additional annual expense of 120 shekels for each household with an active subscription. The lottery has faced criticism, with studies indicating that its revenue primarily comes from low socio-economic areas, leading to its description as a "regressive tax on the poor." Despite presenting itself as a philanthropic organization funding educational and community projects, critics argue it functions as a financial drain on those struggling financially.
In addition to the subscription increase, changes are being made to the monthly bonus program. The number of winners of a week-long luxury vacation for two, previously 75, will be reduced to 50. Furthermore, the grand prize vacation destination, previously a trip to "the Big Apple" (presumably New York), has been removed and replaced with a generic "couple's vacation" valued at approximately 27,000 shekels, without any guarantee of flights to the United States.
Mifal HaPayis stated that the price increase is intended to boost cash prize pools. The first prize will increase from 1.5 million shekels to 1.8 million shekels, with smaller prize tiers also receiving a financial upgrade. The organization claims these changes were coordinated with Ministry of Finance officials after over two years of planning. They assert the adjustments aim to enhance overall winning chances and amounts, as well as upgrade benefits offered through their dedicated app, enabling subscribers to save on other consumer expenses.
