Brazil is closer to the launch of a new lottery draw, and then again, it isn’t. What should have been a May 2 launch has now been postponed – once again – to June with the “Millionaria” still having some way to go before it can be added to the nation’s lottery draws.

Millionaria Ready to Change the Lottery Paradigm

Weighing in on the decision were board members from the Brazilian Federation of Lottery Companies (FEBRALOT) and Caixa Económica Federal. Lottery representatives agreed upon final touches for the Millionaria draws and will soon promulgate the new game by adding it to the Official Gazette where more information about the first draw and launch date will be presented.

The prize of entry will also be included in the official announcement. Millionaria is an ambitious project by Brazil’s lottery authorities as it would attempt to emulate the Powerball success in the United States. The lottery market in the country could be worth $4 billion by 2026. This is still short of the $80 billion that people spend in the United States on lottery products, but an impressive number, nevertheless.

Millionaria is hoping to incentivize more Brazilians into trying what is touted to be a brand new concept by local lottery authorities. The similarities with the Powerball should prove good marketing, but the hopes are that the actual experience would be what makes people stick and come back for more.

There will be a total of 50 balls with a number of possible combinations up for grabs. The main prize is fixed at BRL10 million or some $2 million, with a number of sub-prizes. Matching all eight numbers of the main prize would yield the payout, but just like with the Powerball, your chances of winning the Millionaria are astronomical.

Astronomical Odds Defy Huge Payday

There is a one in 238.3 million chance to land the big prize, which is much higher than the one in 50 million for the Mega Sena where the jackpot starts at BRL3 million and grows when it’s not won. The Millionaria will also have the same jackpot progression when the main prize is not won, with the lotteries hoping to elicit better action from customers.