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Monday, November 28, 2016

AKSHAYA LOTTERY PRIZE STRUCTURE


Akshaya Lottery Prize Structure

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TERMS AND CONDITIONS OF AKSHAYA WEEKLY LOTTERY 
1.    Tickets will be printed in seven series.
2.    The maximum retail price of one ticket will be Rs.30/- only. One book of tickets will contain twenty five tickets.
3.    The first and second prizes will be drawn in full coming under the assured portion of prizes. The remaining prizes will be under variable portion depending upon the sale of tickets.
4.    The consolation prizes of Rs.10, 000/- each will be awarded to the tickets in other six series, having the same number of 1st prize winning number.
5.    The third prize will be determined by drawing the last five digits once and extended to all sold tickets in all series.
6.    The fourth prize will be determined by drawing the last four digits twelve times and extended to all sold tickets in all series.
7.    The fifth prize will be determined by drawing the last four digits ten times and extended to all sold tickets in all series.
8.    The sixth prize will be determined by drawing the last four digits twenty times and extended to all sold tickets in all series.
9.    The seventh prize will be determined by drawing the last four digits twenty five times and extended to all sold tickets in all series.
10. The eighth prize will be determined by drawing the last four digits sixty times and extended to all sold tickets in all series.
11. If any prize numbers in any category is repeated the same will be cancelled and redrawn.
12. An amount equal to 10% of prize money will be deducted from Ist and 2nd prizes and given as agents commission on prize to the agents concerned. An amount equivalent to 10% of the prize money on 3rd to 7th prizes and consolation prize and 20% of the prize money on 8th prize will be given to the agents concerned as agents commission on prize from Government fund.
13. (i) Registered agents will get the tickets at the following discounted rates, for the entire purchase irrespective of the district of purchase.
(a) Up to 2000 tickets – 74% of the maximum retail price
(b) Up to 10000 tickets – 73% of the maximum retail price
(C)Above 10000 tickets – 72% of the maximum retail price
(ii) The highest eligible discounted rate will be allowed for the entire tickets purchased by an agency. The above mentioned discounted rate will be allowed based on the total purchase of tickets from the different District Lottery Offices. The dues or excess amount collected, if any, will be adjusted in future claims or by exchange of tickets of the next lottery ,as the case may be, from the office of registration.
14. The prize winners shall prefer their claims within 30 days from the date of draw. First and second prize winning tickets should be surrendered to the Director of State Lotteries in person or by insured registered post or through Nationalized/Scheduled Banks/ State or District Co-operative Banks supported with necessary documents.
15. The prizes of Rs.1, 00,000/- and below may be claimed from the District Lottery Offices / Directorate of State Lotteries. In the case of claimants from outside the state , the claims should be submitted in the Directorate. The prize winners should record their name, address and signature in the space provided on the reverse side of the ticket. Payment of prize money will be made only after ascertaining the genuineness of the tickets with counterfoils or by any other method as decided by the Director from time to time.
16. Agents are allowed to collect prize tickets with prize money of Rs.5000/- and below and pay the prize money to the prize winners themselves and thereafter claim prize money on behalf of prize winners by exchange of tickets. The agents should clearly state whether the prize tickets are collected and prize money already paid to the prize winners by them, while presenting the same for payment.
17. Claims on mutilated or tampered tickets will be rejected outright. One ticket can win only the highest prize awarded on it. Income Tax and Surcharge etc. if any will be deducted at source from the prize money as laid down in the Finance Act (Central).
18. Legal jurisdiction of this Lottery will be at Thiruvananthapuram.