K1000 cost lottery tickets will be sold starting February next year, announced the Internal Revenue Department under Ministry of National Planning and Finance on October 16.

The grand prize of K1000 lottery will be Ks1.5 billion and other prizes will be increased too, said Director General Min Htut from the department said.

“Our main intention is to provide a good range of prizes. Public mainly want to try their luck at the lottery. The minimum prize is set at Ks50,000. The sale of the K500 lottery tickets will continue. The department will sell K1000 and K500 lottery tickets also,” said Min Htut.

Lottery dealers can apply to buy at Aungbarlay State Lottery Department (Yangon), Aungbarlay State Lottery Department (Mandalay) and offices of heads of township internal revenue in respective townships.

They will need to deposit Ks200 per bundle of lottery tickets for three month in advance to buy the lottery tickets to ensure the dealers stick to their proposed amount to sell in a year.

If they failed to follow rules and regulations in the agreement between them and the department, the deposit will be confiscated and they will be banned from selling lottery tickets, announced the department.

Dealers are selling K500 lottery tickets with the price higher than fixed prices in the market and the department has been criticized for failing to control lottery prices in the market as punters have to pay Ks700 per ticket in some places.