Jeffrey Shaw 93 #13 Posted November 29, 2020 (edited) Contrary view: Camelot has scarcely 'spoilt' the National Lottery and Eurolottery. These seem to have operated faultlessly ever since they began, and on a techological basis previously untested. No failures, no murky doings at the top [which stymied an earlier 1567 version: see http://www.bl.uk/learning/timeline/item102765.html]! But I'm none too impressed by what appears a daily drive to extract money from gamblers' pockets. What was just W/Sa and UK-only now runs to six days a week. Were I in charge, I'd cap the maximum prize at £10m. Nobody can really use-up more than that as a one-off capital receipt. Whereas this Tuesday's Eurolottery is, I read, now at £159m [https://www.national-lottery.co.uk/games/euromillions?icid=-:mm:-:mdg:em:dbg:pl:co ] Edited November 29, 2020 by Jeffrey Shaw Share this post Link to post Share on other sites Share this content via...
Baron99 812 #14 Posted November 29, 2020 (edited) When it first started, my wife & I would have £10 for each draw so £20 a week, then there was the syndicate draws at work, so around £25 a week. Now with the price increases, it's £8 a week in total, £4 per draw on the main Lotto. We never bother with any of the other Camelot draws. Highest single prize we've won in all time, £120 for 4 numbers about 15 years ago. For years we've spent £20 a week at the bookies, betting on the Irish Lottery draws, run on a Wednesday & Saturday, which only has 47 balls. It's never going to make us millionaires, but as we can will £750 by correctly picking 3 correct balls from the 6 picked on the night for £1 or £4,000 by selecting 4 balls from 7, again for a £1 bet, reckoning up, we're a good £10k plus up, since starting playing around 10 years ago. Edited November 29, 2020 by Baron99 Share this post Link to post Share on other sites Share this content via...
iansheff 89 #15 Posted November 30, 2020 I stopped doing the lottery when they doubled the ticket price. Do they still advertise on the TV,I can't recall seeing any ads for a while. Share this post Link to post Share on other sites Share this content via...
Janus 28 #16 Posted November 30, 2020 18 hours ago, ECCOnoob said: There must still be plenty buying because the jackpot and prize winner fund has certainly kept high. If 50% of the original players have stopped since the price doubled, surely the £££ income could reasonably be the same? Share this post Link to post Share on other sites Share this content via...
Beamish 19 #17 Posted December 1, 2020 As someone pointed out earlier in the thread the National Lottery is not even UK owned or run. Since 2010 Camelot has been owned by the 'Ontario Teachers Pension Plan' in Canada. So where do you think the money goes if it is owned and run by a pension fund organisation for retired Canadian teachers? Share this post Link to post Share on other sites Share this content via...
Arnold_Lane 0 #18 Posted December 1, 2020 (edited) 15 minutes ago, Beamish said: As someone pointed out earlier in the thread the National Lottery is not even UK owned or run. Since 2010 Camelot has been owned by the 'Ontario Teachers Pension Plan' in Canada. So where do you think the money goes if it is owned and run by a pension fund organisation for retired Canadian teachers? A cursory glance says each £1 spent is split at 55p to winners, 24p to good causes, 12p to the Govt, 4p to the retailer and 5p to Camelot of which 4.5p is running costs and 0.5p is profit. Edited December 1, 2020 by Arnold_Lane Clearer Share this post Link to post Share on other sites Share this content via...
Thirsty Relic 216 #19 Posted December 1, 2020 20 minutes ago, Arnold_Lane said: A cursory glance says each £1 spent is split at 55p to winners, 24p to good causes, 12p to the Govt, 4p to the retailer and 5p to Camelot of which 4.5p is running costs and 0.5p is profit. Taking the most recent Lotto game (Saturday 38th), £20,454,605 was distributed as winnings. Given the figures provided, that gives a stake of £37,189.000 staked, and a profit leaving the UK shores for Canada of £1.8 million. Given that Saturday's game was one of 2 per week (and we're not even looking at scratchcard sales!), that is a whole lot of money going abroad, especially when you take into account (as mentioned elsewhere on this thread) that a rival contender for the National Lottery said it would be run without a profit, with all surplus generated going to good causes. Share this post Link to post Share on other sites Share this content via...
Jeffrey Shaw 93 #20 Posted December 1, 2020 44 minutes ago, Beamish said: As someone pointed out earlier in the thread the National Lottery is not even UK owned or run. Since 2010 Camelot has been owned by the 'Ontario Teachers Pension Plan' in Canada. So where do you think the money goes if it is owned and run by a pension fund organisation for retired Canadian teachers? Er, it is UK-run even if owned elsewhere. Anyway, most major PLCs have major pension funds as shareholders. Why is that a problem in Camelot's case? Share this post Link to post Share on other sites Share this content via...
Arnold_Lane 0 #21 Posted December 1, 2020 (edited) 10 minutes ago, Thirsty Relic said: Taking the most recent Lotto game (Saturday 38th), £20,454,605 was distributed as winnings. Given the figures provided, that gives a stake of £37,189.000 staked, and a profit leaving the UK shores for Canada of £1.8 million. Given that Saturday's game was one of 2 per week (and we're not even looking at scratchcard sales!), that is a whole lot of money going abroad, especially when you take into account (as mentioned elsewhere on this thread) that a rival contender for the National Lottery said it would be run without a profit, with all surplus generated going to good causes. I assume the profit is also taxed by HMRC. I could be wrong though. Edited December 1, 2020 by Arnold_Lane Share this post Link to post Share on other sites Share this content via...
Janus 28 #22 Posted December 1, 2020 Irrespective of who owns it or where it is based, many people who liked to play and received enjoyment & a little bit of excitement no longer do, because of the changes. Share this post Link to post Share on other sites Share this content via...
Baron99 812 #23 Posted December 1, 2020 2 hours ago, Janus said: Irrespective of who owns it or where it is based, many people who liked to play and received enjoyment & a little bit of excitement no longer do, because of the changes. It all seems a lifetime away from when the lottery was first mooted & introduced, when some stated, it was going to turn us all into foaming at the mouth gamblers. Share this post Link to post Share on other sites Share this content via...
max 13 #24 Posted December 2, 2020 15 hours ago, Baron99 said: It all seems a lifetime away from when the lottery was first mooted & introduced, when some stated, it was going to turn us all into foaming at the mouth gamblers. May not be all of us but certainly an unhealthy amount are verging on the not very bright spectrum: Banking on the lottery to fund retirement. Share this post Link to post Share on other sites Share this content via...