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Finance drafts regs for new sports lottery
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Posted on Oct 09 2005
The Department of Finance has proposed a $50,000 maximum jackpot for a new sports lottery game in the Northern Marianas.
The Marianas Sports Lottery, to be operated by Marianas Lottery, is a lottery game based on the outcome of a game or a special play.
The Finance Department drafted regulations for the operation of the lottery game and it is now accepting comments from the public.
The proposed regulations require Marianas Lottery, during the sports lottery season, to make available an official program that lists the events for that play program.
For each game listed, the official program will indicate the favorite and the underdog and include a point spread. The point spread is added to the underdog score, which is then compared to the favorite’s score to determine the outcome of the game.
The team with the highest score is the winner.
However, a game may have no winner if the sum of the point spread and the underdog score is equal to the favorite’s score.
The cost of the sports lottery ticket will be determined by the amount of money a player chooses to wager. The minimum wager is $1 per ticket.
The Finance Department said the amount per play program would be subject to a maximum payout of $50,000. “Should the total prizes paid exceed the maximum payout, the prize payout will be prorated based on the total payout for each ticket divided by the total payout determined without regard to the maximum payout,” the department added. (Agnes E. Donato)
