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Did  Camelot  Spoil The Lottery For The Majority Of Us?

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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 by Jeffrey Shaw

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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 by Baron99

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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.

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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?

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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?

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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 by Arnold_Lane
Clearer

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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.

 

 

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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?

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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 by Arnold_Lane

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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. 

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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. 

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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.

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