By Dennise Williams , Staff Reporter

BY THE third quarter of 2005, it is possible that Jamaicans could participate in a "Caribbean powerball" lottery game where the starting jackpot is hinted to be US$1 million, payable in local currency.

Brian George, Supreme Ventures president and chief executive officer explained to the Financial Gleaner that, "We have been in discussions with the West Indies Cricket Board and other regional lotteries to establish a multi-jurisdictional lottery company. Similar to the Powerball lottery game in the United States, our Caribbean game would be under the auspices of the Cricket Board."

Powerball is a lottery game regulated by the Multi-State Lottery Association (MUSL) in the US. According the MUSL, Powerball is the number one game in the US and is played in 26 states, the District of Columbia and the U.S Virgin Islands. Currently, the jackpot is US$64 million.

In the Caribbean, Mr. George sees a similar set-up where the lottery companies in Jamaica, Barbados, the Leeward Islands and other islands would set up a lottery firm. "When you tap into a wider population, you immediately get a bigger lottery. Understand that the size of the lottery is a function of the size of the playing population." There are about 5.4 million persons in the English speaking Caribbean.

According to Mr. George, the starting jackpot, "could be US$1 million, but we have not reached that part yet." However, the payout would not be in United States currency. "The prize would be quoted in US dollars but the payout would be in local currency, whether Eastern Caribbean, Barbados or Jamaican dollars," said Mr. George. And this is because the tickets would be paid for by local currency of which, "the ticket price might start at J$100," he said.

While admitting that, "We are in very active discussions with the relevant lotteries," Mr. George said, 'we have to get permission from all of the different jurisdictional gambling regulators. We have to prove that we are operating at their standards. In fact, one of the most stringent regulators is the Betting, Gaming & Lotteries Commission here in Jamaica, so they would set the standard in the region."

However, Mr. George does not believe Caribbean 'powerball' will replace Supreme Venture's existing games. "Yes, we believe that the market will respond very favourably to the regional game, but it will not replace the existing lottery. In the local lottery the odds will be better and people generally are loyal to the local game. People tend to play what they are comfortable with."

Yet, Mr. George is not content with just a regional lottery. "In the next five years, I believe, the Caribbean will participate with the United States Powerball and even trans-atlantically with the United Kingdom. It is not impossible for the lottery jackpot to reach US$1 billion."

When established, Mr. George said, part of the proceeds from the Caribbean 'powerball' would fund programmes at the University of the West Indies, the Carifesta cultural festival and the West Indies Cricket Board.

Recently, Supreme Ventures made history when the Lotto jackpot climbed to J$140 million in August of this year.

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