Toto top prize up to $1m, but odds slimmer

Toto top prize up to $1m, but odds slimmer
A notice in a betting outlet about impending changes to the Toto system.

From Oct 7, the odds of winning the grand prize in the Toto draw will be steeper - from one in eight million to one in 14 million. Punters will have to pick a set of six numbers from 49, up from the current 45.

But you will be richer if you manage to beat the odds as the jackpot prize will go up from a minimum guaranteed amount of $500,000 to $1 million per draw.

Singapore Pools announced yesterday that it is making changes to the Toto game in response to customers' requests for a higher jackpot prize and new prize category for matching three numbers.

This is the first time in 17 years that changes are being made to the Toto game.

Last month, the Government increased the duties on lotteries by 5 per cent, but Singapore Pools said it would not pass the effect of the tax increase to customers.

Yesterday, a Singapore Pools spokesman said that to "increase the minimum guaranteed amount for the jackpot from $500,000 to $1 million and to have more prizes", price increases are necessary.

The spokesman added: "The increase in betting duty, effective 1 July 2014, has no bearing on this change. Consistent with our press statement issued during Budget 2014, Singapore Pools is not passing on the effect of the tax increase to customers."

The cost of each betting category in the Toto game will also be doubled - an ordinary bet of six numbers will now cost $1 as opposed to 50 cents previously - and punters will still need to bet a minimum of $1. A System 7 (punter picks seven numbers) will now cost $7, compared to $3.50 previously.

Punters, however, get a higher chance of recouping their bets with the introduction of a new winning tier of $10 by matching three numbers. The odds of winning any prize will improve from 1 in 321 to 1 in 54 with the new Group 7 prize category, said Singapore Pools.

Customers need to only match three numbers to win $10 in this category. The Group 6 prize has also increased to $25 and Group 5 amount to $50.

This article was first published on Aug 29, 2014.
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